Does the devil pick the best stocks? How sin can pay

Holding on to principled investments may come at a (small) price, according to a new study of the long-term performance of "sin" stocks like tobacco and alcohol companies.

Since 1900, the best-performing industries have been tobacco in the U.S. and alcohol in the U.K., according to a new study by Elroy Dimson, Paul Marsh, and Mike Staunton, emeritus professors of finance at the London Business School, for Credit Suisse.