Nina Montagu-Smith has put together a portfolio of 'ethically questionable' stocks such as tobacco to see if it proves the theory that such shares do well in a downturn 
http://www.telegraph.co.uk/finance/personalfinance/2816818/Will-we-make-a-packet-out-of-fags.html
Vice shares outperform ethical investments 
Sinners have done better than saints on the stock market over the last year, with unethical stocks beating the FTSE For Good and FTSE100 indices. 
http://www.telegraph.co.uk/finance/personalfinance/investing/3079913/Vice-shares-outperform-ethical-investments.html
