Tuesday, August 9, 2011

Invest in Altria or Philip Morris?

PM's ratios are not quite as good as MO's but the legal risk and market growth prospects seem better. PM sells cigarettes abroad and developing nations just can't get enough American cigarettes. It's hard to believe that some third-world country is going to get all health conscious and sue PM anytime soon. It takes at least 20 years or so between market and a significant number of deaths from cigarette smoking. You should be safe in PM for at least that long.

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