Investing in betting companies is less ethical than in tobacco
I’m not blowing smoke when I tell you that investing in tobacco companies is arguably more ethical than a punt on shares in a bookies
The two in which I am invested – Imperial Tobacco and BAT – have delivered returns well ahead of the indices of which they have been part over the past decade. But Paddy Power (in which I am no longer invested) has done better than Big Tobacco in share price terms over the past decade. It has done better than rivals William Hill and Ladbrokes, too – much better.
However, having done some detailed study on the company...
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