When the economy is booming, we pound a six-pack of Bud with our buddies and watch the game. When the economy is lousy, we pound a six-pack of Coors with our buddies and watch the game. When the economy is flat, we pound a six-pack of Miller with our buddies and watch the game. This is why companies that make beer—like those that make diapers, electricity, and cereal—have countercyclical stocks. When the economy hits a soft patch, investors take refuge in them.

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