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While the actions of the investor may not have any influence on the company, they do have an influence on the investor him/herself, and that's where the real story is. Do you want your wishes aligned with higher tobacco profits? Higher oil company profits? Or not? Or do you care (i.e. "If it's legal, it must be OK, I'll invest in it, and let the US Congress choose my morals and values for me")

That is an excellent point, and probably the strongest argument in favor of SRI that I've ever read. When I buy a company's stock (unless I'm buying it short, of course), I automatically start identifying with and hoping for that company's success and growth. And you're right, I don't want Philip Morris to be successful. That's a very good point. I just wish it were presented that way, so that people understood the limitations of what they were doing, and don't start thinking that the concept of SRI is a substitute for direct action. I wonder how many people wouldn't touch oil company or Haliburton stock, but still drive their SUVs to work every day.
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