The election of a gun control friendly president and Congress has been kind to gun makers and ammo manufacturers. In the most recent quarter, Smith & Wesson Holding Corp. (SWHC) reported a 45% increase in handgun sales over 2008. Sturm, Ruger & Co. (RGR), another major gun manufacturer, reported a quadrupling from 2008 net income. And sales are said to be brisk at the smaller, privately held manufacturers that comprise the bulk of the industry.

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