If you are contemplating making an investment in big tobacco, and have not yet done so, you need to read this.
The money quote:
“China had 182 million smokers in 1980, and nearly 282 million in 2012, it said. India gained 35 million smokers – bringing its total to 110 million – even though the smoking rate fell from 19 to 13 percent of the population.
Russia, where about one third of people smoke, has added 1 million smokers since 1980.
Globally, the number of smokers has climbed from 721 million in 1980 to 967 million in 2012. The number of cigarettes smoked annually has also risen 26 percent over the past
… Read the rest of this article! “Philip Morris International Is The Best Long-Term Tobacco Investment”
Even Bruce Springsteen, long after raking in the millions from Born To Run, Darkness on the Edge of Town, The River, and Born in the U.S.A., still needed to borrow money short-term to make ends meet:
Considering the money he’ll earn from his two new albums, it’s hard to believe Bruce Springsteen once needed a $500,000 loan from the Orioles’ Rick Sutcliffe for a down payment on a southern California home.
Actually, “needed” probably isn’t the right word. Springsteen had plenty of money back in 1986; he repaid Sutcliffe two days later. But as so often happens with rock stars, baseball players and other rich people, he just wasn’t liquid.
… Read the rest of this article! “Even Bruce Springsteen Had To Borrow Money For Short-Term Liquidity”