From the Port Phillip Insider (AUS) – Some folks would argue that there is a perpetual smell that hangs around the stock markets — and that it’s not a good smell either.
But, as it turns out, getting into the ‘smells’ business a year ago would have been a good idea for your portfolio.
As Bloomberg reports:
‘Inter Parfums Inc. gained for a fifth straight trading day after analysts gave a rosy outlook for the fragrance company, saying it could benefit from a pickup in growth and M&A activity.
‘The shares rose as much as 8.1 percent to $32.47 in New York on Monday, the biggest intraday increase in almost seven months. Elizabeth Arden Inc., another seller of perfume and cosmetics, also has rallied in recent days. The stock jumped as much as 26 percent to $9.64 on Monday, its best performance in more than a decade.’
We thought that would be worth playing around with. How have ‘smelly’ stocks (smelly in a good way) performed over the past year?
It turns out they’ve done pretty well.