Afte the Fall, he reasoned, life and work in this world is always tainted by sin.He believed faith-based funds were overly optimistic about their moral purity, and weren’t sufficiently realistic about the moral ambiguity of our world.To the issues of stewardship and conscience, he added a third critique, this time with a theological lens:.This is a reference Romans 14, which described Christians with a “weak conscience,” whose moral alarms were always going off like a malfunctioning alarm clock. He believed faith-based funds were shrewdly packaged products designed to make money from those with a weak conscience.But Matt said that was only true on the basis of my second concern:.Faith-based funds, values-based funds, socially responsible funds - they all seemed simply like the latest gimmick by which actively managed funds continued to underperform. He said his analysis of the numbers led him to a clear verdict: smart money commits to low-fee index funds, while stupid money chases returns in actively managed, high-fee funds.
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