I don't have a lot of time, so I'll keep this post short. Today I bought 40 shares of British American Tobacco (BATS) at a price of £49.35 for a total of £1,974.38 (about €2,218.40 or $2,603.96).
BATS was already on my stock watchlist in September. The share price has climbed a little from then, but I still think it's an attractive buy today.
If you want to know why I like this company, I'd recommend you read this article on Seeking Alpha. It makes a very strong case for the tobacco industry, and BATS in particular.
Another reason why I initiated this position now is because of the weak pound sterling. €1 currently gets me about £0.89, which is at the higher end of it's historical average. Reason for this is obviously the Brexit. Even though the Brexit will continue to cause some uncertainty for the foreseeable future, I'm happy to take lock in this exchange rate for now.
What do you think about this purchase? Would love to hear your thoughts in the comments down below.
SD
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