Cover of MoneyWeek magazine issue no 586

Sturdy stocks

27 April 2012 / Issue 586

How to beef up your portfolio

PLUS:

  • It's time to back the pound against the euro
  • Let a politician lead the Bank of England
  • The man behind the gold rush in space

Excerpt

Don’t knock capitalism

I chaired a session at the Just Banking Conference at Edinburgh University last week. The speakers were good. The audience was intelligent. The panel answered their questions nicely. I was pleased.

Then afterwards a woman came up to me, and said that she wanted me to know that she had cancelled her subscription to this magazine. Why? Because we don’t write enough about how to help others. And there isn’t enough on ethical or community investing. She doesn’t want to invest in ‘ordinary’ companies. She wants to invest in those that do good and that do so locally. She also didn’t want to hear so much about making money: she wanted to help other people with her money.

I nodded, had a slug of wine and explained that our aim is to help our readers to grow and protect their wealth. It seems clear to us that one of the best ways to help the poor is not to be one of them. If you can establish your own financial security to the point where you will never be a burden to the rest of the nation’s taxpayers or to your children, you’ve already helped a whole load of people. If you want to help more – by giving to charity, or by volunteering, you can do so from a stable core. She nodded nicely, we agreed that perhaps she should find another magazine to read, and that was that.

• Read the full editor’s letter here: Don’t knock capitalism.