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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Sonny McWilliams who wrote (6169)	3/26/2001 4:06:48 PM
From: md1derful	Read Replies (3) \| Respond to of 6439

Yup..nice follow thru on MO today..hopefully can close out the 42.5's for a double tomorrow...she ran down from 50 on relatively light volume, so my guess is she could easily go back to that level before the resistance kicks in again...I'm not sure I agree with fed targeting wealth effect, rather it appeared to be targeting overcapacity, which takes time towork out and may not justify anything draconian..of course I'm a bit biased since I remain short and defensive at this point doc

To: Sonny McWilliams who wrote (6169)	3/26/2001 5:31:56 PM
From: Frank Ellis Morris	Read Replies (2) \| Respond to of 6439

"the FED targeted the wealth effect so the FED SHOULD now target the negative wealth effect. This would bring confidence back to the consumer" Sonny, I do not know how many times I look back at Philip Morris and remember when it was trading at 19 and 20. It was indeed clear to me that if I would dump all my techs and throw it into big MO that I could sit back and retire on the dividends. The fact that troubled me then was all the negative press and law suits. The Clinton administration seemed that it was trying to put them out of business and it looked like AL Gore was going to be the next commander in chief. Today I received the shareholders report for Philip Morris and find that the dividend payout to shareholders increases every year by almost 10%. This was the percentage payout for the last 5 years. I think it is a good defensive position and excellent company to have in your portfolio. Elaine Garzarella was on the NBR Friday night and she endorsed Philip Morris. We are in a minority with regard to the Fed and their actions to take away the wealth. Most people think that they are omnipotent and miraculous. I agree with you that their should be an aggressive cut in interest rates to stimulate the economy and win investors confidence. Can't wait until techs begin showing positive earnings again. Later Frank