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Strategies & Market Trends : Value Investing

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To: Demetre Deliyanakis who wrote (16517)	3/1/2003 11:00:32 PM
From: 249443	Read Replies (1) of 78486

Demetre: re MO The lawsuit issue has been around for longer than a decade. :) The dividend is good and MO has a dominant market position. Any negative verdict will be fought in the courts for years. One either accepts the litigation risk and buys the common or chooses to a) buy other securities, or b) buy MO common, or c) choose to buy MO with some downside protection (hedging, puts, long/short other tobacco stocks). I choose option C. I really prefer to buy quality companies, w/o the litigation risk, that can increase their dividend and in the long run (5-10 years) will have a higher yield on cost basis than MO at current prices.

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