Mary Davy, thanks for the discussion. Quick clarification:

1. My point was about arguing in favor of a stock with the benefit of hindsight, and the point stands whether it is about oil futures or a stock. I did quote a research study which addresses the issue of performance.

2. I am afraid I am not the best person to explain how the Australian funds are implementing tobacco exclusion.

3. The argument here is that tobacco stands out, it is not just one of the many things that are not good for one's health. There is both an economic case and an ethical case against tobacco, as explained in the interview.

Thanks again for your interest in the interview.

Regards

Usman