Monday, June 10, 1996
Ma AOL, a "Sin" Stock?
By MF Health

Let me just begin by saying that I own a few shares in Ma AOL. I did it because of my deep disdain for the proponents of socially conscious investing. But, I want to give those socially conscious folks their due; they've taught me a great deal about the markets. Yes, indeed, they introduced me to the concept of a "sin stock." And, I'll be eternally grateful because I can't buy enough stocks that blatantly exploit the weak spots in consumers' psyches.

You're probably thinking I'm buying Philip Morris or some hot casino stock, yes? No no no no, I'm loading up on Ma AOL because I'm quite addicted to her product. Me and roughly 5,999,999 other onliners who are tapping away at our mice, trackballs and keyboards every day -- utterly hooked! Now, to her credit, Ma AOL attempts to aggregate one huge pile of informational content to suit the needs of the virtuous, and I use that quite a bit. But, this whole chat room "thing" is phenomenal. Who woulda thunk it?

Usually, when I drop into a chat room, it's one of the hallowed Fool rooms, but since getting into one of those these days is like being granted an audience with the Pope, I've tried others. In these other rooms I've heard (names changed to protect the sinful) Bambi069 talk about how her tan lines go ALL the way up, or Knife111 talk about how he loved using his trusty bayonet during "the war." And, I just smile. I love these folks. This, my friends, is online sharing, and Ma is going to make a mint on this!

Now, I'm as virtuous a guy as you'll ever find. I don't lie or cheat on my taxes. I don't smoke, and rarely even have a drink now that I've entered my 30s. I've turned into the boy next door, but I'll be darned if I'll join up with the socially conscious when these types of investments are just coming into their own. Ever the capitalist, I'll sell this service to the clamoring masses as long as they'll buy. And, history has shown us that addictions last a wee bit longer than fads. Perhaps that's why the sin stocks cruise ever higher. Ma AOL is pushing a new, highly addictive culture, sprinkled with a generous helping of news and information so you don't feel the need to leave your PC to do something silly like watch Tom Brokaw or Sportscenter.

I'm no rocket scientist, I'll grant you that. And I've purposefully stayed away from calculations in this fribble. You can handle that ROE, P/E and Book Value stuff on your own, but just take a few minutes to ponder what's happening here, and how Ma AOL reigns supreme. Love your mother, and log on often!

Transmitted: 6/10/96