Alliance one is simply in the tobacco business. They basically buy tobacco from tobacco growers,process the tobacco then sell it to cigarette manufacturers like Philip Morris. What makes this company such an interesting value investment is its valuation. The company sells below book value or all Assets minus Liabilities. This gives me a margin of safety in knowing that if the company where to go bankrupt today, they could simply liquidate and still give me back my principal. Alliance one also is generating tons of free cash flow. The company is highly profitable and has been for the past three years. This is not only a great investment but a great defensive play. Tobacco revenue is consistent because of the continued demand for tobacco products like cigarettes. Alliance one is a major tobacco leaf merchant. I’m personally beginning to accumulate shares and advise my readers to do there due diligence and check out this undervalued company.