Make the Most of a Dog's World

Cultural anthropologist Jim Williams of the Williams Inference Center in Connecticut observes that the humanization of pets is one more sign of the isolation of humans. In a recent note to investment clients encouraging them to focus on companies capitalizing on this trend, he mused that the money spent on animals may infer a certain lack of loyalty in humans.

Our animals always love us, even when it seems that everyone else we know is talking on cell phones, plugged into iPods or journaling on blogs. Add to this the empty-nesters who seek pet companionship and the younger couples who delay having children, and you've got an absolute pet epidemic on your hands.

In a moment, I will bring to your attention two great and undervalued companies that should help you make some money off your own moocher. But first you really need to get the bigger picture.

Puppy Pacemakers

Health care for animals today is just a step away from the advances offered to humans. Rather than just putting their ailing mutts to sleep as in the old days, people are treating dogs and cats for cancer, replacing their joints and fitting them with pacemakers. A quarter of owners in dog-crazed England have pet insurance costing nearly half a billion a year.

I've got two black Lab mixes at home, and not only do they get priority seating on sofas and walks in the freezing rain, but they also get (unlike us) truly relaxing vacations at the "paradise" pet lodge when the family goes skiing or camping. I just hope they never get sick, because the number of veterinarians has not kept pace with the growth in the number of pets, and vets' fees are skyrocketing. The 28 U.S. vet schools are maxed out with 2,600 new students per year, according to reports, and overseas vet schools are challenging offshore med schools for the smartest candidates out of colleges.