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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)
MO 63.64+1.0%3:59 PM EST
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To: don kramer who wrote (3432)3/31/1999 4:04:00 AM
From: don kramer  Read Replies (3) of 6439
 
A psychological disaster...there are now no longer any persuasive
reasons to introduce in to your portfolio new positions in MO.

To paraphase from my insider info of a major giant
institutional manager. The indivduals and managers were
instructed, essentially to close down ...no more accumulation
of MO.

One can expect that other portfolio managers have been instructed
along the same lines.

In view of the obvious alternatives to the market place,
in conjunction with Mr. Greenspan's obvious contentment with
general price valuation. The alternatives for major money
managers , who for the most part, must obey the prudent man
rule, further introduction of MO shares to an account might
prompt question as to whether the money manager is following the
prudent man rule. As well, as possibilility of regulator
questions. I draw your attention to the real possibility that
a state government or the federal government might begin to ask
why are you placing your beneficiaries at risk with MO in your
portfolio. Public money such as CAWPERs and TIAA CREF It is becoming extremely difficult to answer that question.

There for, regardless of the important internnational case
in Baltimore i.e., Guatemala vs. tobacco, regardless of the
time and money to "settle ? the state suits", regardless the
brilliance? of MO's lawyers, and regardless of the Appelate court
decisions, there remains the fact that today caused alot of
long term buyers to stop buying. And under (?probably) internal
instructions will not be buying for some time.

I agree. I in good conscious can not recommend the stock anymore.

dk (still long person account).

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