The Meb Faber Show – Jonathan Fell, Ash Park Capital: “Consumer Staples & The Bull Case for Tobacco Stocks”
Jonathan Fell, Ash Park Capital: “Consumer Staples & The Bull Case for Tobacco Stocks”
In episode 375, we welcome our guest, Jonathan Fell, founder of Ask Park Capital, where he manages the Global Consumer Franchise funds.
In today’s episode, we’re talking all things consumer staples and tobacco stocks. Jonathan has covered the space for over 30 years and shares the drivers behind successful consumer staples. Then we walk through the evolution of the tobacco industry and why he likes the setup for these stocks today. We touch on the company’s current valuations, factor profile, return drivers, and the impact of ESG.
As we wind down, Jonathan shares the impact of direct-to-consumer companies on large incumbents.
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20211209
