John Mackey, Co-Founder & CEO, Whole Foods Market delivered the Keynote Address to the Automate 2015 Conference on Tuesday, March 24, 2015.
Mr. Mackey’s topic was Conscious Capitalism: Blueprint for a New System for Doing Business, and he discussed the successes enjoyed by companies that strive for a higher purpose (beyond just profit).
During his presentation, Mr. Mackey called attention companies identified as “Firms of Endearment” by authors Raj Sisodia, Jag Sheth, and David B. Wolfe in their book titled Firms of Endearment: How World-Class Companies Profit from Passion and Purpose.
These firms have long enough track records to document their financial successes, and Mackey expressed his amazement that no one has yet created a mutual fund to focus on these firms which would include: Amazon, BMW, CarMax, Caterpillar, Commerce Bank, Costco, eBay, Google, Harley-Davidson, Honda, JetBlue, Johnson & Johnson, Southwest Airlines, Starbucks, Timberland, Toyota, UPS, and Whole Foods Market.
Mackey compared the performance of these “Endearment” companies to companies identified in Jim Collins book Good To Great, and also to the companies that comprise the S&P 500.
Over a 15 year period in Mr. Mackey’s presentation, Endearment companies returned 1,681% compared to 263% for the Good to Great companies and 118% for the S&P 500.
Will a mutual fund company created a mutual fund to invest in companies that practice Conscious Capitalism?
