While a number of mutual funds take the high road and invest only in companies that do not promote smoking, drinking, gambling and other vices, other funds do the exact opposite. This year on Wall Street, the "sin" funds are outdoing their adversaries. "We're not advocating these behaviors at all," said Charles L. Norton, portfolio manager of the Vice Fund, which invests substantially in "sin stocks." "We're just looking at this through the eyes of an investor."

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