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The company manufactures and sells cigarettes and other tobacco products in markets outside of the United States.
I bought this in September 2010, and it's my primary holding. Now I have no illusions that I will ever see the returns of 2011 ever again. There has been a lot of "safe harbor" demands pressuring the buy button of this stock. When the economy improves, the safe harbor will be somewhat forgotten but that does not necessarily mean a drop. Instead, I anticipate that the growth prospects, which are truly fantastic, will sustain the price and deliver a trend that bests the SP500 for the next 5 and 10 years. Consider that a company like Apple has to invent new products to be king of the hill. In contrast, PMI has to execute its proven business plan. Long live the dividend portfolio.
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