I like to think that I have much in common with Warren Buffett. Well, OK, at least one thing: We both prefer to invest in companies that we understand. The operations of certain high-tech firms such as Emulex (NYSE:ELX) are beyond my grasp (what the heck is a networking host bus adapter?). And like Fool Tim Beyers, I find biotech companies such as Transkaryotic Therapies (NASDAQ:TKTX) downright baffling.

Anything involving beer, junk food, and sports, however, falls well within my core area of expertise. Chocolate, for example, is a product that anyone can relate to. Except for a few individuals (such as my soon-to-be sister-in-law) of questionable celestial origin, everyone universally loves chocolate, and domestically there's only a handful of players waiting to satisfy that demand. Combined, Hershey (NYSE:HSY), Nestle (Pink Sheets: NSRGY), and the privately owned Mars control four-fifths of the market.

Each of these companies was likely pleased by the findings of a new health study recently conducted by cardiologists in Greece. According to the study, chocolate can actually help prevent heart attacks. That's right; chocolate is high in flavonoids, natural antioxidants that help fight damage that oxygen can cause to the endothelial cells that line the walls of blood vessels. I wasn't aware that oxygen caused any bodily damage, but then maybe that's why I avoid biotech stocks.

Cacao has long been used medicinally, but discovering that chocolate can stimulate endothelial function, make blood vessels more flexible, and actually improve cardiovascular health came as something of a revelation. The scientists cautioned, though, that too much chocolate could lead to weight gain, offsetting any potential benefits.

While it is doubtful that this study will have shoppers lining up at Wal-Mart (NYSE:WMT) to fill their carts with Kit-Kats, Reese's, Mounds, and Milk Duds, Hershey may still look sweet. The company has a loyal customer base, streamlined manufacturing and distribution capabilities, healthy free cash flows, and an above-average 1.8% dividend yield.

After posting record revenues and earnings on rising margins last quarter, management is forecasting double-digit earnings growth for the year. Though, with a PEG ratio of 2.4, the stock is fairly rich, and just a nibble may be enough.

Hungry for more chocolate news? Maybe these will help:

Fool contributor Nathan Slaughter prefers Hershey's Special Dark. He owns none of the companies mentioned.