J. Christoph Amberger Says Stay Away from Vice Stocks
Aug 21st, 2008 | By J. Christoph Amberger | Category: Featured, Financial News, Stock Market InvestingTraditional wisdom says vice stocks, such as MGM Mirage (NYSE:MGM), Las Vegas Sands (NYSE:LVS), Wynn Resorts (NASDAQ:WYNN), are supposed to do well in tough economic times.
Today’s Financial News editor J. Christoph Amerger says if they are it’s news to MGM Mirage. On Tuesday, the company’s stock had plunged 10% since the casino complex opened.
The reality is the economically depressed may not have the money to fly to Las Vegas. J. Christoph says stay away from this sector…