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Industry 7. Addictive pleasures (nicotine and alcohol) (1/3)
Addiction in inelastic and such is alcohol and nicotine. We expect people to keep using these products despite the economic state of the world.
During the 2008 US recession, alcohol sales rose by 9% money.cnn.com/2011/06/08/n...
According to the fund's strategy, we sell short 5 % of the S&P 500 large-cap firms that have the highest p/e ratios (i.e. total 25 firms).