MARC HASENFUSS: More sinned against than sinning
While investors once could seek solace in ‘sin sector’ shares in times of uncertainty, things are looking decidedly parched on that front today
09 May 2024 - 05:00
The “sin sector” — widely renowned as a custodian of damned fine long-term returns — is just not what it used to be.
In times of trouble, investors could traditionally find consolation in shares issued by casinos, liquor makers and tobacco product peddlers. Spending on these vices would, back in the day, continue unabated even in the leanest economic times … and especially in times of prolonged uncertainty. A portfolio of sin stocks might have been just the defensive foil needed to cope with the increasing unpredictability of the outcome of the election...
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