Cancelling a Citibank card, buying gun stocks

Sebastian notes that Citibank is pushing some “common-sense” measures like requiring all gun-related “clients who offer credit cards backed by Citigroup or borrow money, use banking services or raise capital” to raise the required age for buyers to 21, not sell bump stocks or Magazines of UnusualNormal Size, or sell to buyers who haven’t passed a background check (clearly they’re not familiar with federal law).

My wife has a Citibank card. We will be cancelling it immediately. We have other credit cards at banks that are at the very least gun-neutral, so this doesn’t affect our day-to-day spending at all other than not supporting Citi at all.

Update: my wife was one step ahead of me, and had already cancelled the card. Excellent.

I’ve also made the choice to buy some shares in publicly-traded gun-related stocks, specifically Ruger, Smith & Wesson, and Vista Outdoors (owners of Federal Premium Ammunition). It’s not a huge investment, only a few hundred bucks in total and a small fraction of my well-balanced portfolio, and I don’t think such investments will get me rich, but it makes me a voting shareholder which is nice. I mainly invest in index funds that, as part of their index tracking, own such shares, but I wanted to explicitly own those individual shares in addition to the index funds.

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