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Articles tagged as "British American Tobacco"

Q&A: Understanding Orbis’ performance and potential

By Duncan Artus and Edward Blain on 28 Oct 2019

Market breadth has been very narrow offshore, with few winners and many losers. Among the losers have been emerging markets and select cyclicals. At the same...

Reflecting on our top equity holdings

By Leonard Krüger on 28 Oct 2019

The performance of the Allan Gray Equity, Balanced and Stable funds has been disappointing over the past couple of years. Low single-digit returns from...

Equity Fund update: Focus turns to locally listed international businesses

By Duncan Artus on 04 May 2018

The market had a volatile first quarter with positive sentiment towards South African equities continuing against a backdrop of volatile international market...

Stable Fund update: How to invest in ‘interesting’ times

By Mark Dunley-Owen on 15 Jul 2016

‘May you live in interesting times' is an English expression which many believe to be a translation of a traditional Chinese curse. The expression seems to...

Tobacco economics

By Ruan Stander on 30 Jun 2012

Most industries have a single factor that helps investors to understand them better. Unfortunately for investors looking for easy wins, it does not necessari...

The trend is your friend till it bends at the end

By Duncan Artus on 24 May 2012

For some time we have been concerned about the sustainability and unbalanced nature of consumption growth in South Africa. I don’t believe you can consume,...

The investment case for BAT

By Simon Raubenheimer on 30 Jun 2010

British American Tobacco provides the rare opportunity to invest in a superior quality business in a stable industry at a discount to the average company. Wi...

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