The key to making money in the stock market this year?
In a word: Guns.
So much for gun control, which observers say is pretty much a dead duck with the exception of a few isolated areas.
The Wall Street Journal’s Marketwatch has an article today about the great profits that have been made by investors in gun companies.
It’s written in a rabidly vicious anti-gun slant. But the bottom line is gun stocks outstripped most others in the stock market this year.
The only paragraphs written without anti-gun hatred dripping from every line:
Financial speculators who took advantage of the crisis to invest in gun manufacturers at rock-bottom prices have spent the past 12 months racking up incredible profits.
Those who bought Smith & Wesson shares SWHC in the immediate aftermath of the massacre 12 months ago have made profits of more than 60%. Those who bought rival gun maker Sturm, Ruger RGR are sitting on profits of nearly 80%. Those returns have left almost any other financial speculation in the shade. They’ve beaten the overall stock market by more than two-to-one.
…So investors got a double whammy. They got the stocks cheap, because of the panic — and then they benefited from extra sales and profits.