David Wolfe has an excellent post at Ageless Marketing on myths about Baby Boomer health. Noting a recent Washington Post article on high obesity rates and associated diseases, Wolfe notes that statistical reality is out of tune with marketing hype suggesting Boomers are the healthiest generation of aging Americans in history. Sure, there’s a segment of Boomers who pay close attention to diet and exercise. But the demographic segment is so large that generalizations are bound to be inaccurate:

“The myth of boomers’ health is just one of numerous myths promoted by many who are looked upon as “boomer experts.” Take-away lesson: Beware of self-styled boomer experts bearing a portfolio of impressively sounding statistics who make one claim after another about the worldviews, values, aspirations and behavior of boomers.”

We’ve noted previously Centers for Disease Control data showing two out of every five Americans age 55 to 64 are obese.

Scripps Howard News Service reports this week on the surprising number of Boomers who haven’t lost their youthful drug habits–or are revisiting them. The statistics on drug abuse among older Americans are surprising and sobering: 400,000 Boomer-aged patients have been treated in hospital emergency rooms for overdoses. Citing federal data, the news service reports that in 2003, Boomers accounted for half of all deaths from drug-related causes, mostly from overdoses:

One of the few comprehensive studies of the problem found that 3 million Americans older than 50 in 2004 had used illicit drugs such as marijuana, cocaine or heroin, or had misused anti-anxiety, anti-depression or other prescription drugs. Research by the federal Substance Abuse and Mental Health Services Administration estimates that number could more than double by 2020.

In a separate report earlier this year, Scripps Howard noted Centers for Disease Control and Prevention data pointing toward abuse of certain prescription medications, psychotherapy medications and cocaine. The data point to an under-reported health care issue for older Americans that could balloon in the years ahead.

Item: Sara Lee targets empty nest Baby Boomers with single-serving frozen pies called Simple Sweets. . .yet another product introduction based on the brilliant premise that empty nest households will find small portions more convenient and useful.

Item: Two out of every five Americans age 55 to 64 are obese, according to data from the Center for Health Statistics at the Centers for Disease Control and Prevention (CDC). Half of this population suffers from high blood pressure, putting them at above average risk for heart disease and stroke.

Question: Is this really the kind of consumer product “targeting” 50+ Americans need?

Goldman Sachs’ new basket of Japanese stocks that will benefit from the Boomer age wave got me thinking about U.S.-based boomer stocks. What companies will benefit most from the potent combination of increased longevity, affluence and the enormous size of the Boomer demographic segment? Top investment analysts have been weighing in on Boomer stock plays; most are focusing on the obvious sectors—financial, healthcare, real estate and travel.

50+Digital will be monitoring market analysis and commentary on stocks that represent age wave plays, and collecting pointers to the best commentary. The most interesting analysis we’ve seen so far comes from Erik Dellith at Reuters, who recently published a list of ten favorite stocks . He started with a list of more than 1,000 companies, and boiled it down to just over 100 using various Reuters filters for quality. The final cut filtered for above average earnings-per-share growth within an industry category for both the trailing 12 months and the past five years. Two of his favorites: Goldman Sachs Group Inc. and Nicholas Financial Inc.

Below is a live chart of the Reuters picks so you can keep score:

CNBC wild man Jim Cramer also has some views on boomer stocks. Like Reuters, Cramer likes Goldman Sachs. His picks also include Legg Mason Inc. and T. Rowe Price Group.

The hotel sector should be a strong play, according to a study by the Urban Land Institute (ULI) and PricewaterhouseCoopers LLP, supported by rising leisure travel by aging boomers. The study points to full service hotels as a best bet.