With each passing year, weapons manufacturers such as Smith & Wesson ( NASDAQ:SWBI) and Sturm, Ruger ( NYSE:RGR) here in the U.S., and their counterparts abroad, are sending new guns to market - which tends to push "used" gun prices down. In one widely cited example, Foreign Policy magazine editor Moises Naim noted that in 1986 the price of an AK-47 in Kenya approximated the value of "15 cows." By 2005, that same AK-47 rifle could be purchased for just four cows. They're not finite resources that can be exhausted, but renewable resources that can be infinitely replenished. In theory, the answer is that, unlike investments in land, gold, or for-sale historical relics, workaday firearms such as the AK-47 can be manufactured brand-new on factory floors. As a general rule, guns such as the AK-47 don't perform quite as well as investments. Truth be told, profits like that earned at the Wyatt Earp revolver auction come but once in 150 years.
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