The re-election of Barack Obama has seen gun sales soar. I hope the investor who asked me for advice listened to me and bought up large before the election.
Gun sales in America are soaring in the wake of President Barack Obama’s re-election with weapons retailers reporting AK-47s flying off shelves “like hotcakes.”
Owners of guns have been stocking up because they are concerned about a potential tightening of regulations on assault weapons in the president’s second term.
In October the number of background checks on people applying to buy guns, an indicator of future sales, increased by 18.4 per cent.
There was a similar jump whenÂ President ObamaÂ was first elected in 2008. A total of 12.7 million background checks were carried out that year, up from 11.2 million the year before, and the number has been rising since then.
Shares in weapons manufacturers like Smith & Wesson and Sturm, Ruger also surged after Mr Obama’s re-election.
Those are the companies I advised him to buy into.