Posted this on the General Dynamics board this morning, and thought I'd cross post it to this one as well:

Don't believe it. Although peace from here on would be a milestone achievement in human history it might yet be a little early to relax in that regard.

And yet from the valuations currently being given to many defense contractors you'd swear wars and the possibility of terrorism have been vanquished from the face of the earth.

The best time to buy any stock is when nobody else wants it.

For more on this:
Does the market see more war?
http://www.smartmoney.com/investing/stocks/does-the-market-s......

Risk and opportunity in defense:
http://seekingalpha.com/article/220100-opportunity-and-risk-......