Tobacco Stocks: A Classic Defensive Play

S&P says industry fundamentals and stock momentum trends signal strong price performance ahead for shares in the group

Only three Standard & Poor's 500-stock index subindustries posted an increase in average price performance during the 11 market declines associated with recessions since World War II: Alcoholic Beverages, Household Products, and Tobacco. I guess that's the reason for the old Wall Street Saying "When the going gets tough, the tough go eating, smoking and drinking."

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