Philip Morris International Stock’s Steep Drop

Philip Morris International stock, which had been trading around $100 per share, fell sharply to $83 per share before closing the day at $85 per share. For long-term shareholders of this international tobacco giant, the 15-17% one-day jolt is something that hasn’t been seen since the financial crisis of almost a decade ago. It is a very real reminder that the cautionary warnings about stock market fluctuations are not merely some ancient vintage proverb from your grandmother’s generation, but an actual reality that accompanies any form of equity ownership.

I have long paid attention to the success of the tobacco sector as an investment ever since I read Jeremy Siegel’s book “Stocks for the Long Haul” in which he pointed out that an investment in the old Philip Morris was the single best investment of the latter half of the 20th century, trumping even Warren Buffett’s amazing story at Berkshire Read the rest of this article!