I read Scott Fearon's book dead companies walking which I highly recommend over the holidays. Was just reading some of his articles.

Some interresting views especially some counter conesnsus on funeral homes - quote below:

On the short side, we look for companies that have debt and shrinking revenues. We are hunting for companies that will go bankrupt—we don’t short Tesla or Netflix. Sixty to eighty percent of our shorts are below $10 a share when we first short them. We believe that they are at $5 or $8 a share but should be valued at 50 cents or 80 cents a share.

We also short those we have reason to believe are in a sun-setting industry. Today that could be the cable industry or the funeral home industry.

Korajczyk: People are going to stop dying?

Fearon: Cremations! About 55 percent of all funerals last year were cremations. That’s going to be 100 percent: my kids and then their kids will all be cremated. Typical cremations—without a service or viewing—are two thousand bucks. But normal funerals cost $10,000—the casket alone is $2,000–2,500.

There are other sun-setting industries, too: the milk industry is in deep distress because a growing percentage of the next generation doesn’t drink cow’s milk; they drink almond milk or soy milk. Dean Foods just filed for bankruptcy.

How to Pick a Loser (northwestern.edu)