Q: If you owned BTI and MO, would you buy more, hold or sell them and why? Is inflation a good reason to own tobacco stocks? Do they make sense as marijuana plays, to some extent? Thanks.

Q: Can I please get your opinion of Altria's recent Q results. Thank you !

Dave

Q: Hi, what does Return on Equity can tell us? Is it an efficient indicator of stock long-term performance? e.g. MO's ROE is very high as 149%, but stock price is flat for many years, could you explain why? BTW, should I use ROA instead of ROE? Thank you for your great service!