Listen to this episode from Chit Chat Stocks on Spotify. British American Tobacco provides tobacco and nicotine products to consumers worldwide. The company operates under different brands including popular names such as Lucky Strike, Camel, Natural American Spirit, and Modern Oral brands. Listen as Brett and Ryan ask Devin questions about the company, its business model, and valuation. Enjoy the show! ***************************** This episode is sponsored by Quartr, the new way of doing company research. Access conference calls, presentations, transcripts, and more for FREE on your mobile device. Download Quartr on the App Store here: https://apps.apple.com/us/app/quartr-investor-relations/id1552412128 Download Quartr on the Google Play Store here: https://play.google.com/store/apps/details?id=se.quartr.android ****************************** This episode is sponsored by Stream by AlphaSense, the highest quality expert network library. Sign-up here and get a 14-day free trial:  https://streamrg.co/CCM ****************************** Access our “Not So Deep Dive” episodes by signing up for CCM+. Sign-up directly through Spotify or Apple Podcasts. If you listen on another podcast player, use this link and create a private RSS feed: https://anchor.fm/chitchatmoney/subscribe Need more information? Check-out our launch newsletter: https://chitchatmoney.substack.com/p/welcome-to-chit-chat-money-plus ****************************** Want updates on future shows and projects? Follow us on Twitter: https://twitter.com/chitchatmoney Interested to see more of Devin's work? Follow him on Twitter here: https://twitter.com/DevinLaSarre?s=20&t=8A1z1Kf9_AQJ7FW1hFP9dw Contact us: chitchatmoneypodcast@gmail.com Timestamps Industry | (4:05) British American Tobacco | (14:51) Business Segments | (24:10) Disclosure: Chit Chat Money hosts and guests are not financial advisors, and nothing they say on this show is formal advice or a recommendation. Brett Schafer and Ryan Henderson are general partners and portfolio managers at Arch Capital. Arch Capital and its partners may hold securities discussed on this show.