312. Sin stocks vs ethical investing

Ethical investing sounds simple until you actually look at what you own. A broad market ETF can give you exposure to tobacco, weapons and companies you might never choose individually. But an "ethical" fund can still hold businesses someone else would reject, charge a higher fee and draw its ethical line somewhere completely different.

So where do you actually draw the line?

In this episode, Jack and Tash unpack the uncomfortable overlap between money, values and investing. They look at why so-called sin stocks can be financially attractive, whether controversial companies can trade at a discount, how greenwashing complicates ethical labels, and why global supply chains can make even apparently positive investments difficult to judge.

In this episode we'll discuss:

🚬 The extraordinary historical performance figures raised for tobacco, and what addiction, pricing power and brand loyalty can mean for a business.

🎰 Why gambling, alcohol, tobacco and defence companies can behave differently from the broader economy, and why the investment case doesn't automatically settle the ethical question.

📦 How broad market ETFs can quietly expose investors to businesses they might never choose to own directly.

💰 Why some unpopular or taboo companies may trade at a discount, including the episode's discussion of the so-called "Grindr discount".

🌱 Why an "ethical" label doesn't necessarily tell you whether a fund actually matches your personal values.

🧼 How greenwashing and marketing can make it harder to work out what an ethical investment is really screening in or out.

🌏 Why solar panels, cobalt, banks and global supply chains can make the ethical picture far more complicated than simply avoiding a handful of industries.

⛏️ Why mining can look very different depending on whether you're thinking about jobs, essential resources, environmental damage or corporate accountability.