Philip Morris - A Stock For Wealth Or Poverty (MO) Message Board

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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)

MO 65.37

+0.3%

3:59 PM EST

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To: Geoff who wrote (2266)	9/4/1998 11:28:00 AM
From: Rarebird	Read Replies (1) of 6439

Really? Where have you been? I see a 30 Year long bond that has rallied to a yield of 5.29% while stocks have declined over 20%! That is exactly what is supposed to happen in a deflationary global environment. It will continue. The Fed is not looking to save the U.S. Stock Market at these levels. If we get another leg down, they may ease a bit. The solution to the global economic deflationary spiral will require a lot more than simple easing of rates. Many people, like myself, are waiting till next year to purchase another PC because it will be substantially cheaper. Look at commodity prices. You know what it spells: D E F L A T I O N. By the time Deflation really hits the U.S.A, the stock market will have already priced it in. MO is a good investment here partly because they have Pricing Power. People will not stop smoking, nor stop drinking beer and eating Kraft Foods in a recession. Yes, all of the above might very well increase. The global economic crisis is a lot more serious than you think it is. Try to understand what is going on here, rather than living in DENIAL as the Stock Market expresses its rational caution and heads lower. Weak hands are not selling here. It is astute minds and strong hands that understand the economic reality. Money Market Funds and Treasuries are appropriate vehicles in this economic environment. Those people have made money over the last 6 Weeks and have not lost 20%. I'll let you know when we enter a New Bull Market, just like I let you know a month ago that we entered a Bear Market. The School of Hard Knocks is the best teacher.

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