Should You Buy Sin Stocks?Rupert Hargreaves
Does vice pay? It depends on where you look.
Indeed, there's plenty of evidence which shows that vice or sin stocks outperform the market (more on this later). Although, a recent study published in The Journal of Law and Financial Management, a publication of The University of Sydney, questions these results.
The study was conducted by Greg Richey, a lecturer of finance at California State University, San Bernardino who, in his own words was looking to determine, "how the individual vice industries have performed against the market portfolio".
"This article examines the return characteristics of . . .
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