8 years ago
3
Private Prison Stocks Sink After U.S. Signals the End
The U.S. government halted a decade-long experiment to hire private companies to help manage the soaring prison population, sending shares of facility operators Corrections Corp. of America and GEO Group Inc. plunging.
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http://www.bloomberg.com
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Good. These sociopaths need to be bankrupted financially, they were morally bankrupt years ago.
These private prison companies are tanking in the stock market!
The GEO Group is a REIT that manages prison properties, its down 39.6% today
CXW is another prison REIT, down 35.6% today
Unfortunately, these serious losses are hurting investors more than the companies themselves. But that's what you get if you spend your money on immoral equities. There are companies and mutual funds with reputable ESG criteria ratings.
For instance, I own $TRSCX as part of my retirement portfolio, and its up over 7% since I bought it in March 2016. Historically, it has a respectable performance record. And it has a very reasonable expense ratio of 0.43%, so its not a loser in that regard either. Its similar to broad market funds but this one gives special consideration to that ESG criteria, and avoids immoral companies to a degree.
So you don't need to ignore your ethics if you want quality, diverse companies to invest in.
Much like you, I could not possibly care less that people who invested in private prison companies are losing money. I hope they lose every penny. 80 year old great grandma? Don't care. Kick the bitch to the curb.