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Bonds Are a 'Safe' Investment: A Big Lie Gets Even BiggerThe Wall Street Journal recently featured a piece titled Financial Sector Is a Precarious State of Affairs. According to article: "If defaults by subprime borrowers begin to affect other parts of the economy noticeably, analysts say, financial stocks will suffer the brunt of it, bringing the market lower."
While some may see opportunity amid concerns about financials, particularly subprime lenders, others will want to steer clear of that sector. One interesting way to do that is with the Amana mutual funds, a group that invests based on the principles of Islam. One of the core tenets: not buying financial stocks, because lending money with interest (or borrowing) goes against Muslim law. The funds have an impressive track record to boot, and both the Amana Growth Fund and the Amana Income Fund are currently rated 5-stars by Morningstar.
So even if you're not Muslim, the Amana funds may be worth looking into as a way to avoid financial stocks. Log on to AmanaFunds.com to learn more.
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