Great piece. As a citizen, I’m appalled how authorities (CDC, FDA, WHO, influential politicians) mislead people -- it is clear that vaping, heat not burn and nicotine pouches are much less risky than cigarettes, even though some uncertainty remains about the risks of these newer products.
As an investor, I must take authorities behavior into account. A portfolio approach to nicotine stocks therefore makes a lot of sense, as you’ve previously pointed out.
Great piece. As a citizen, I’m appalled how authorities (CDC, FDA, WHO, influential politicians) mislead people -- it is clear that vaping, heat not burn and nicotine pouches are much less risky than cigarettes, even though some uncertainty remains about the risks of these newer products.
As an investor, I must take authorities behavior into account. A portfolio approach to nicotine stocks therefore makes a lot of sense, as you’ve previously pointed out.