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Exhibit 1: Sector has modestly outperformed the market We don't believe the consumer defensive sector offers much value in the aggregate, with the median stock we cover trading at a modest 7% discount to our valuation

Young people online are sharing videos of themselves smoking dried rose petals, raspberry leaves, and chamomile as a way to kick a tobacco habit

The decision to ban smokeless tobacco is going to incite debate about whether the league is overstepping its bounds

they'll bring the tobacco into proper humidification and no higher than you like, they'll do so without supervision, and maintain correct moisture levels well into the future