S&P 500 Stocks Shifted To S&P 475
By JIM KEVLIN • for www.AllOTSEGO.com
COOPERSTOWN – Rejecting the advice of the village treasurer, the Village Board this evening voted unanimously to shift its investments in S&P 500 stocks over the next year into an S&P 475 scrubbed free of fossil-fuel companies.
Trustees acted despite Treasurer Derek Bloomfield, citing guidelines for CFAs (chartered financial analysts), advising them that a fully diversified portfolio, including fossil-fuel stocks, is the most stable. “Social investment should be done with one’s own money,” he said.