Ben Bernanke only owned tobacco shares when he became chair of the Fed

During the transition period, 1947-1965, shares in the tobacco industry underperformed by 3 percent per year in the USA. Still, it was a temporary trend and the decades from the 1960s to the 2000s, when the health impact of tobacco was well known, saw tobacco companies outperforming comparable firms by over +3 percent per year. 

Source: Responsible Investing: Does It Pay to Be “Bad”?  – Credit Suisse.

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