Breakfast in Budapest, reading the Financial Times, and wondering: is Big Tobacco on its way into the canna industry.
Big Tobacco has big money, and is wondering what to do with it...
"A recent report from Credit Suisse covering industries with data going back to 1900 showed that tobacco had performed best, with an annualised return of 14.6 per cent compared with an average of 9.6 per cent. A dollar invested in tobacco companies in 1900 would have grown, with reinvested dividends, to $38,255 by the end of 2014. If you had invested the same dollar in shipbuilding and shipping, you would have a measly $1,225."
"It seems quite possible that, 100 years from now, it (Big Tobacco) will still be churning out cash at a rate to turn the rest of the Dow Jones green."
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