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In fact, during the 1970s (highlighted in the chart below), when inflation averaged more than 7% annually, and both consumer staples and the broad market generated significantly negative real returns, tobacco stocks performed extremely well, with real returns averaging more than 6.5% annually, versus roughly -1.8% for both staples and the broad market
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(2019) 143:e20182741
Well recognized brands subtly alter their blend intentionally, from time to time
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