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[3] The Camel cigarette became the most popular cigarette in the country

The bottle will become an ornament of any vanity shelf

Smoking reduces the flow of saliva, which, because saliva cleanses the lining of the mouth and teeth and protects the teeth from decay, promotes infection [7]

In other words: Holdings with lower expected risks and higher expected returns should have larger position sizes Holdings with higher expected risks and lower expected returns should have smaller position sizes There are a million ways to do this, but I start by categorising holdings as defensive or cyclical and give them a default size of 4% or 3% respectively (I'm looking to hold around 20-25 companies, so 3-4% each is in the right ballpark)

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