There are a lot of mixed reviews about this tobacco but there are a lot of people that love the flavour
The Economist talks about why American tobacco stocks have outperformed tech in recent years and textbook example of "price-inelastic" buyers: Over the past decade, the # of US smokers has declined by 20m (and cigarettes sold is down by 1/3rd) So, cigarette firms have charged more to their most committed smokers (operating margins grown from 50% to 60%) In 2025, cigarette makers in the US will make operating profit of $22B While the industry goes away, only the most addicted smokers are left
Tobacco products are defined as cigarettes, smokeless tobacco, cigars, and pipe tobacco. A third note below the figure says, The estimated numbers of current users of different substances are not mutually exclusive because people could have used more than one type of substance in the past month. The number of people who used alcohol in the past month was 138.5 million
I want this one all to myself
GK: Not long at all, because Frank and I had been in so many dances together