is not a good thing... But it may increase the returns on some mutual funds... I noticed in last Friday's Wall Street Journal that some of the "socially responsible" mutual funds are relaxing their restrictions on the stocks that are eligible for their portfolios. The lack of "vice" companies has held back the performance of these funds for some time now. Shame on the funds for easing their morality- I thought it was their #1 motive in their investments.
I have no moral problems with the vice stocks- in fact, I am the proud owner of Altria stock (cigarette manufacturer). My morality makes me believe that you have the right to pollute your body with anything you wish, just don't let your habit infringe on my rights. Some choose nicotine to pollute themselves, I choose chocolate. Nevertheless, I am a good death merchant, and always smile when I see someone buying Marlboros at the gas station...
Vice stocks always seem to do well when the economy slows- so if you believe we're in a slow-down, go get some vice stocks!
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