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 57.43

-1.3%

2:29 PM EST

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To: md1derful who wrote (3353)	3/18/1999 11:25:00 AM
From: capitalistbeatnik	Read Replies (2) of 6439

Check out last weekend's Barron's: Article on the Nifty Fifty and the valuation of giants. Guess which Nifty Fifty stock in 1972 had the highest annualized return? Not Coke, not Gilette, not Merck, but good old MO. It had a PE of 24 then (before the 73-74 debacle) but even so, according to its future growth of 18.8 percent annually(!), it warranted a PE of 68.5. Meaning at current levels this is practically discounted five fold. So, go ahead and factor in a legal doomsday scenario, this is still cheap.

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