NYT front-pager: "Tobacco’s Stigma Aside, Wall Street Finds a Lot to Like."
The article deals mostly with Altria, and its sale of Kraft, but it should resonate closer to home.
"For all the industry’s apparent troubles, however, the future of cigarettes appears to be brighter than ever...Cigarettes have
certain advantages over other consumer products, not the least of which
is that they are addictive. They are inexpensive to make, require
almost no innovation, there is a global market for them, and cigarette
makers can raise prices without seeing much of a drop in business.
"On
top of all that, a recent string of court decisions has convinced
investors that the worst of the litigation against tobacco companies is
over."
The Vice Fund, mentioned in the article, "invests in tobacco, gambling, alcohol and military contractors."
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