Source: Financial Times

At the 21 Club, a longtime redoubt of corporate chieftains and big names, alcohol sales are up 9 per cent from last year, and businessmen can be seen drinking $14-a-glass cocktails as early as 3pm on a weekday.

If you believe that alcohol is a recession-proof business, take a look at Corby Distilleries (CDL.A on TSX), or (DEO: 114.05 +0.02%) Diageo, the largest multinational beer, wine and spirits company in the world.

(MO: 71.47 +0.08%) Altria (Philip Morris) also goes well with these. Where there’s drinking, there’s smoking.

An argument in favor of buy-and-holding (investing for the long-term):

If you remove the 10 ten biggest one-day moves for the U.S. Stock market over the past 50 years, your returns are cut in half. Half the gains in the stock market are directly due to events that the mathematical models we rely on assume will never happen.

Edited to add (see comments for more info and source):

“…by missing the 10 worst days along with missing the 10 best days increased your terminal worth by 200%. Missing the worst 100 days & 100 best days increased your terminal wealth by an astounding 40,000+%”

As of a few days ago, I’m in the black for the year (so far; spit over your left shoulder and knock on wood for me).

I still hold 2 junior miners, but thinking of their value as $0. One of them is trading at 1 cent today, not that far off. The mine is being put on care-and-maintenance, until metal prices improve.

I’ll think of these shares as options, without expiration date. In a couple of years they may be worth something, who knows.

A lot of money lost, a few lessons learned. No more penny stocks.

Hurts 🙁