Are you looking for a play on stable markets with few disruptors and resilient growth? Well then beer and cigarettes are for you. As Goldman notes, ...this type of ‘boring’ growth may often mean that these companies belong to industries that do not appear very glamorous at first glance: they are centered on an immutable product, typically not very differentiated, and do not attract huge capital or talent flows. But often, the routine nature of the product can mask an interesting growth opportunity. Dominators in more fragmented markets: where market leaders are in a favourable situation to consolidate and gain further market share, especially if they have access to cheap debt capital. Additional consolidation could be a source of margin expansion (or resilience), as has been the case for the tobacco and the beer brewing industries over the past 10-15 years. And visually: (Charts: Goldman) So what are you waiting for? Go get drunk and smoke some cigarettes - after you load up on the shares.