Tuesday, March 8, 2011
Why I Try Not to Invest in Mutual Funds
Altria Group Inc., which owns Philip Morris, is a favorite of large investor funds and institutions including VA CollegeAmerica, Capital Research Global Investors, Vanguard 500 Index Investors, State Street Corp, Vanguard Group, Blackrock, and on and on. Details on the stock and its owners can be found at Morningstar.com. (see quote for MO to get Altria details).
When I was blogging about death statistics for the book Cause of Death, I became more aware than ever how bad cigarettes are. In fact, a high % of medicare costs could probably be attributed to tobacco since it is often the culprit behind most cancers. So, the last thing I want to do is own the company that manufactures and sells this poison. And the only way to do that is to stay away from the funds that own it.