The Dow wasn’t the only indicator to hit an all-time high yesterday:
As the investing world celebrates the all time nominal high of an archaically-weighted index of an ever-changing basket of stocks, there is another – this time unprintable asset – that appears in all-time high demand – firearms. Smith & Wesson just released earnings not only with record high revenues but increasing their outlook dramatically for fiscal year 2013.
The surge in ‘background checks’ and sales since the election (and furthermore since the Tragedy in Newtown) continues (+29% YoY) and as SHWC notes “The tragedy in Newtown has understandably inspired an important national discussion about how to cope with violence in our communities – we possess a broad range of products and a highly flexible manufacturing operation. Taken together, these allow us to be highly responsive should the market and/or legislative developments drive a change in sales mix.”
Note to my financial planner, should you happen to be reading this today; I really, Really, Really hope you plunked a ton of my portfolio into S&W, Sturm Ruger and Glock USA when I mentioned it last fall…