Follow the Money

A recent article in the NY Times was about a religious order, the Passionist Fathers, who were enduring financial problems forcing them to sell off property. In an effort to recoup they invested $50,000 in a Broadway musical "A Leap of Faith" about a swindler's redemption. The show opened on April 26th and closed on May 13th after only 20 performances. Rather than a "leap" it was more like a "broad jump" and they might have had better luck with the lottery.
In an unrelated news event J.P. Morgan, the investment bank, just announced a loss of two Billion dollars on a risky transaction. Their chairman had to address the shareholders this week to explain.
Among the shareholder questioners was a priest member of the Oblates of Mary Immaculate (O.M.I.)
who apparently had invested in J.P. Morgan, a bank "too big to fail" or as one pundit put it "perhaps too big to manage". While these two events are unrelated it illustrates where these religious orders are placing their bets. Perhaps they could use a risk management department. I would like to assist the good Fathers but my portfolio has taken a bruising of late.
tjs
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