Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Harshu Vyas who wrote (73840)	10/4/2023 2:00:08 PM
From: E_K_S	1 Recommendation Recommended By apatel1 Read Replies (1) \| Respond to of 78666

I refuse to invest in services, Products or Companies that kill. I sold my RTX for that reason. Like Lockheed I can no longer support companies that build efficient killing hardware (like missiles) and especially 'cluster' bombs & landmines. Cluster landmines are now banned by international law, but they are still used by some countries and armed groups. They are particularly dangerous in post-conflict areas, where they can remain active for many years after the war has ended. FWIW, the use of cluster munitions in Ukraine would be a violation of the Convention on Cluster Munitions but US still sent them. I do not invest in any of this nonsense! My Dad was assistant to the President of Lockheed for over his career. He said it was different time during the 70'-80' during the Cold War.

To: Harshu Vyas who wrote (73840)	10/4/2023 3:36:02 PM
From: Spekulatius	Respond to of 78666

we still find ourselves to be stronger than the PIGS (Portugal, Italy, Greece, Spain) - not that that's an achievement! Agreed, although Greece is on a tear economically and it's stock market as well. I have a soft spot for Italian small caps. Italy has probably the most interesting IPO market in Europe, with many small but profitable semi family controlled companies coming to market. The quality and foremost the valuation of Italian is head and shoulders above US IPO's (which are overpriced in general). borsaitaliana.it

To: Harshu Vyas who wrote (73840)	10/4/2023 4:00:33 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78666

I don't smoke either. My parents did but both gave it up when they got older. However I love the cig / nicotine business economics. It's amazing that cig consumption has been declining for decades (since the 1950's) and yet tobacco has been one of the best business of all time, due to high FCF, low valuation (helps with buybacks) and virtually zero tangible capital required to run the business. All this due to pricing power offsetting volume declines. I think PM with their substitutes has probably the best path to create a very durable business that will throw of cash decades from now. BTI is second with their vapes and the lozenges (big in Scandinavia). They also a 29% stake in ITC which is basically the Indian tobacco monopoly (not quite a monopoly but very close). They have some work to do get the vape business profitable (there is regulatory nonsense going on the US where every dinky vape shop sells unapproved cheap vapes from China, but a high bar is set to get nicotine products from legit companies approved by the FDA at the same time with a tremendous backlog for approvals). Over time, I think these things will get resolved