Investing in Phillip Morris unethical?

I had a friend trying to argue with me tonight that I would be a bad person if I continued to hold PM stock as my cornerstone in my portfolio. I politely added that it has been the single best performer in the S&P 500 since the 50's and has something like 20,000% return from 1970-2007 whereas coke and Procter gamble returned around 3000% percent and thats without dividends reinvested. Personally I think after the spinoff from altria now that PM is free from litigation from US lawyers I feel the stock is gonna skyrocket over the next 20-30 years......now would you guys consider me a bad guy for continuing to profit from PM. I know its a horrible thing but smoking is a choice, I guess im insensitive because I don't know anyone harmed by cigarette smoke and know I'd be way different if I had a loved one hurt by them.

 

No.

 

With returns like that, I would say he's just mad he doesn't own the stock himself.

 

Why keep it all wrapped up in one company?

the mutual fund "VICEX" invests in tobacco, alcohol, and gambling.

 

The gambling industry isnt so hot right now with travel to vegas being so pricey...check out WYNN stock and sands las vegas which owns palazzo and ventian.....theyre way waay down this year and dont even pay a dividend while pm has a veyr nice dividend and is actually up from its spinoff price, not too many stocks are up in this market but when you're strictly overseas cigarette sales and haven't even tapped china,india,vietnam and bangladesh who consume something like 2 trillion cigs a year, o and they signed a contract with china national tobacco to start selling the marlboro man in china soon, thats why theyre the biggest chunk of my portfolio combined with 20,000+% gains over the last 30 years now minus headaches of american attorneys = goldmine in my book.

 

Forget what you're friends are saying, they're not putting food on your table! Smoking is definitely a choice and standing around a smoker is also a choice. People who complain of secondhand smoke should all live in a bubble!

 

Not at all.