Peter Arment of JSA Research, Inc. has some interesting words to say about the effect of an Iraq draw-down on ammunition sales.

Mr. Arment: Wall Street is worried that if there is a draw-down in Iraq, ammunition sales will be hit. That is not the case. Post 9/11, we have changed all the training requirements and 90% of the ammunition that gets consumed in the small caliber category is for training. Those training requirements are very unlikely to change any time soon.

For the full interview, click here.

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