Avoid financial speculation: Pontiff
Wednesday, 22 July 2009 11:20am
Pope Benedict XVI has put his weight behind fundamental long term investing and warned against speculative short-term investment in synthetic assets.
In his latest encyclical "Caritas in Veritate", Pope Benedict warned that "what should be avoided is a speculative use of financial resources that yields to the temptation of seeking only short-term profit, without regard for the long-term sustainability of the enterprise."
I know whenever I want investment advice I go and see somebody who has taken a lifelong vow of poverty!!!!!