Just say no to cigarette stocks…
The numbers are straightforward. And stark. Consumer Staples (XLP) has been a terrible place to put your money in 2018. There’s been a nearly -11% drop this year in the sector, with cigarette companies Philip Morris (PM) and Altria Group (MO) among the biggest losers.
Hedgeye CEO Keith McCullough has had XLP among our favorite sectors shorts all year. Avoiding “sin stocks” continues to be a smart play.
“These are Consumer Staples stocks that have slowing top line growth and rising costs,” McCullough explains in the clip above. “I’m not trying to be humble or cocky. I’m trying to tell you where the money is to be made and, most importantly, where the money is not to be lost.”
Watch the clip above for more.