🚀 go-pugleaf

A current Reuters news story by Christina Pantin says that Philip Morris has
gained a favored spot in a mutual fund called Yacktman Managed Mutual Fund.
Tobacco comprises about 13.5 percent of Yacktman's investment strategy;
pharmaceuticals represent 21.9 percent.

Last year, Philip Morris disappointed its investors by becoming the Dow
Jones' worst 1993 performer. This year, however, the company's stock is up
almost 10 percent, closing just short of it's 1994 high of $64 oer share, and
it has raised its dividend. 

Some speculators have tied Philip Morris's financial gains to its scores on
the political front. The company has made headway in its battle for
California's Proposition 188 by interspersing canard issues like property
rights throughout the debate. While most of the financial support for the
initiative has come from tobacco industry sources, the company has managed to
maintain an appearance of "grass-roots" support. 

Philip Morris's political gains in one of the nation's most economically
powerful states has animated support from its competitors in the tobacco
industry as well, and may have encouraged investors to consider tobacco a
more secure place to commit their hard-won dollars.