Thanks Nishant for starting a topic very close to my heart. Largely I agree with Aniket Gore that I think like a conumer and 100% business owner of the company before deciding.

Some companies I have avoided due to personal beliefs (not that I would have surely bought, but stopped evaluating further once I realized it does not confirm to my beliefs):
1. Avanti Feeds (Non-Vegetarian).
2. MCX (speculative, view also shared by Prof. Bakshi)
3. Tasty Bite Eatables (Non-Vegan; they sell some paneer and other dairy based foods).

In the following I do not wish to hurt any one’s religious (or lack thereof) or other personal beliefs. I am just stating part of my perception of the world, parts of which could be incorrect.

As an example, most Hindus traditionally consider cows as sacred. So they don’t own businesses like leather (shoes, etc.). For this reason, most such businesses were traditionally owned by Muslims in Inida. However, most of the same Hindus don’t have any qualms about purchasing leather goods. Some of them don’t realize the consequences of their actions, some do subconsciously realize this; but without realizing that the supply arises because of the demand, they think, one more doesn’t make a difference. I don’t fall into this camp (or so I believe), and I think this is the essence of Aniket’s post.

Another example is that of banking. In Christianity, usury is considered a sin and in Islam it is considered Haram. It is for this reason that in the last 4, 5 centuries most of the money lenders (think sharks) in Europe were Jews. In fact most of the banks and central banks are highly influenced by Jews today also. Hindus historically never had to form opinions on usury since people of other religious backgrounds have ruled over the dispora since many centuries. Ofcourse, some Hindu kings (like kings everywhere) used to fool their subjects by making smaller coins, or mixing other metals in gold/silver coins. Christians now-a-days don’t seem to have many qualms. In Islam, there is a concept of Shariah investing. There was also an ETF formed for this reason. Most of the world does not blink while thinking about bankers, except sporadically after the 2008 crisis. I think if India has to progress while making exports/imports, we need to leverage for making faster progress. In leveraging, people who start earlier get major gains. I hope the economically backward countries (think Africa) are not leftout – because the HFCs are surely goind to make finance available to the Indian masses. I think of it like a pyramid/ponzi scheme, where the people at the bottom level pay the bill. ( On a slightly tangential note, conincidentally it is just today that RMB got a 10% weightage in the SDR of IMF. James Rickards of currency wars fame says this is the currency which will be devalued next time there is a financial crisis. After more than 5 centuries, the sun might again rise in the East. While we are talking of history, let me give some more information about one factor which led to the demise of India and China. Isaac Newton, the infamous investor of South Sea Bubble was the origin of the idea of the bimetallic standard – 1:16 ratio for gold:silver. This created lot of problems for India and China. When today I hear hypocrites from West talking about China, or India few years back, not respecting open markets while devaluing currency I am reminded of their lack of knowledge of the past and present.)

Another issue I think about at times is animal testing done by Pharma companies, though I have not yet formed an opinion on this.

There is also the issue of environmental concern, global warming etc. I have not yet avoided any companies because of this.

On the flip side, businessman typically start businesses about which they are passionate. On similar lines, I own Ujaas Energy (though its not like I disregard financials before buying). I would also be happy to own Mayur Uniquoters, though failed to find MoS till now.