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Strategies & Market Trends : Value Investing
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To: Demetre Deliyanakis who wrote (16517)3/1/2003 10:36:40 PM
From: James Clarke  Read Replies (1) of 78490
 
<<Also, some cities and states have sold tobacco bonds to raise cash. The bonds are secured by tobacco payments. It is impossible to sell the bonds, if tobacco use continues to decline.>>

Check the tense of the verb. They already sold them. Thats the bondholders' problem, not the states - they took their money up front.

I used to trade Philip Morris until the government did their thing in 1999 - since then I'm just a watcher. Great great company, but they've got a big problem.
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