Swedish Match, best known perhaps for the history of its creator - the "Match King" and financial crook extraordinaire Ivan Kreuger (at left and Freddie is no relation) - is laughing off the greatest financial crisis and scandal-ridden era since the suicide of its founder back in 1932. It is all things tobacco and pretty much the cash machine addiction to its products demands.
Kerry Group, on the other hand, deals in the other things (more) people cannot do without: food and - true to its Irish domicile stereotype - drink. Even the non-alcoholic versions.
Further, I am happy to report that these activities do not remotely touch on the adulteration of wine. It is therefore our champion for today.
Its accounts are also pleasantly and strappingly robust. But its biggest advantage is its very domicile, a source of panic for investors despite the group's mitigating global profile.
Relative valuations for the two are at extreme levels. Sell SWMA @SEK195.7 / Buy KRZ @€24.61
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