Daily Reckoning: Investors quit the fag

Investors are turning away from tobacco stocks although this is one of the best-performing industries, according to a report co-authored by Professor Elroy Dimson, Chairman of the Newton Centre for Endowment Asset Management (CEAM) at Cambridge Judge. The Global Investment Returns Yearbook for Credit Suisse analysed data since 1900, and found that tobacco was one of the best-performing industries in the history of the US stock market.