Tobacco Stocks Routinely Outperform While Being Very Cheap

Tobacco stocks currently find themselves in a steep drawdown, with industry titans Altria Group and Philip Morris International currently down about 30% and 34%, respectively, from their all-time highs. A rise in bond yields, - which lessens the appeal of tobacco stocks' hefty dividend yields, - increased regulatory concerns, and disappointing financial performance have combined to push the stocks to their worst performance in more than a decade: