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Parnassus Endeavor Investor (PARWX)

Nasdaq - Nasdaq Delayed Price. Currency in USD
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37.15+0.07 (+0.19%)
At close: 6:06PM EDT
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  • B
    Bill F.
    Bill F.
    The investment philosophy of this fund is to invest in companies that are a great place to work, believing that companies that treat their employees well will do well. I'm not sure this philosophy is actually followed though, when looking at some of the holdings, which include a large stake in Wells Fargo (WFC). As we now know, Wells Fargo drove its employees to commit crimes and create fake bank accounts, then may have fired potential whistle blowers when middle management thought the scheme might be uncovered. Not only is that not a great workplace story, it's quite the hellish opposite. Yet, this fund continues to own WFC, which may now be a good value investment even if this fund really doesn't follow its purported investment philosophy.