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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 58.42-0.7%Dec 3 3:59 PM EST
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To: Rob Rob who wrote (1301)4/4/1998 1:05:00 AM
From: Rarebird  Read Replies (2) of 6439
 
What is going on here is quite Real and not " BS ". There is a lot of hatred, vengeance and hostility here on the part of Congress and the President. The resentment seems to be based on a few factors: 1) Adding additional nicotine to cigarettes in order to make it more difficult to quit. 2) Marketing to children, via Joe Camel Ads. 3) Denial that nicotine is addictive. 4) Politics: The tobacco industry is staunchly Republican Conservative.
With all this being said, I think that MO will come out a winner in court. I see no problem in marketing to children with the intent of them becoming smokers in the future, as adults. Moreover, if the industry did add additional nicotine or other substances to make sure smokers remained hooked, I don't see that as a reason for the tobacco companies to be liable for a smoking related death. The original decision to begin smoking in the face ( or denial ) of the health risks is the original cause of death.
The tactics of Congress and this Administration is purely Mobster like intimidation at this point. The real question here is if the tobacco industry is strong enough to withstand the onslaught. I know MO can handle the heat here because of their cash position and great management team. RN seems to be cracking here as the new legislation may very well cause them to go bankrupt. I'm extremely Bullish on MO, and quite patient. Most investors don't have the guts, character and courage to invest here. In spite of a possible 10% downside risk here, the " Smart Money " is loading up on the long side and buying aggressively on the way down.
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