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While two days of not smoking can be intense, its useful to bear in mind it gets better after that

This means that nearly all Tobacco Nation residents are exposed to flavored tobacco product marketing, including young people, low-income individuals, and Black individuals who are overrepresented in Tobacco Nation compared to the rest of the country

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)