Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.570

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3:59 PM EST

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To: Bill Wexler who wrote (6001)	1/11/2000 8:40:00 PM
From: Bill Wexler	Read Replies (5) of 10293

STRONG BUY RECOMMENDATION: PHILIP MORRIS (MO) The stock has been burned to the ground on concerns over ongoing tobacco litigation. I'm betting that the litigation problem will be resolved without it being necessary for MO to protect itself in bankruptcy. The fact of the matter is that these cases have consistently been struck down on appeal, and the U.S. Supreme court recently sent a clear message that it sides with tobacco. I think that we have seen the peak of American anti-tobacco sentiment in 1997-1999. I am also doing a simple thought experiment; Will I walk into a supermarket in 10 years and still see Philadelphia brand cream cheese, Oscar Meyer hot dogs, Miller beer and (gasp) Marlboro cigarettes? MO has a long history of returning shareholder value, it is a near-certainty that they will do something to unlock it even if the tobacco unit stagnates. Spinning off the foods division alone will easily return $50 a share+.

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