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That this is unique to defense and tobacco can be seen in the scatterplot below, where other high-quality businesses in technology and consumer staples, both stalwarts of the broad quality universe, are often expensively valued*: In addition to this unique combination, tobacco and defense have historically been reliable inflation shelters, rewarding investors with positive real returns during periods of higher inflation that more negatively impacted both their respective sectors and the broad market

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"The world litters 4.5 trillion cigarette butts a year

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Karelias, Managing Director Corporate Social Responsibility and Sponsorships [edit] Karelia has a long history of providing support to organizations and activities in its local community