Slate's Daniel Gross on the Free Enterprise Action Fund** (a.k.a., The People Who Heckled Hank Paulson for Being a Tree-Hugger at the Last Goldman Shareholder Meeting):
Are you a right-wing, free-market type who believes that Fortune 500 CEOs have devolved into a gaggle of eco-friendly squishes? Do you like paying high expenses for stock market returns that lag the S&P 500? Would you trust a former tobacco executive and a critic of junk science to manage your money? Then have I got a mutual fund for you!FEAF takes itty bitty positions in companies that eschew corporate social responsibility policies, and publishes a list of its investors. But perhaps most telling is its requisite risk disclaimer: "Mutual fund investing involves risk, including loss of principal." We assume it's just the wording, but it almost sounds like loss of principal is expected.
**er, micro-fund. FEAF has all of $5 million under management.
A Very Curious Right-Wing Mutual Fund [Slate]