[oarabbus_]

There is research suggesting that "sin" or "vice" stocks outperform, as many people refuse to touch them, therefor creating an artificially lower demand which corrects itself by those who don't have the ethical dilemmas being able to pick up greater amounts of undervalued shares.

https://www.robeco.com/en/insights/2017/09/research-reveals-...

[bcoates]

That link says the opposite -- that the vice premium disappears once you factor in their unusual capital structure.

Essentially, sin stocks are unusually well managed because they can't be used for empire-building by crappy executives.