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Philip Morris International, Inc. Message Board

  • gollywogazoo gollywogazoo Oct 22, 2008 5:42 PM Flag

    Hedge funds are liquidating. Their losses

    in the energy sector have got to be enormous. PM is a very liquid asset making it easy for funds to sell & raise cash. I have noticed, however, that the last 1/2 hour drops in PM are getting less severe indicating these funds may well be running out of inventory allowing buyers to step in.

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    • I think your absolutely correct about hedge fund cashing in at customer requests.

      There is a whole other aspect to it though. In general investors are exiting the markets. I work closely with annuities. At an alarming rate people are switching from variable market based annuities to fixed interest bearing annuities. Some are paying as high as 6% annually. People in 401ks and other retirement plans are switching all mutual funds over to bond funds, even though the bond funds are producing a small loss on a monthly basis, it's the only place you can hide in a retirement plan.

      In simple terms, there is a mass exit from the market. From all angles. Mix in the media frenzy about this and a cut the losses mentality has taken over. Toss in hedge funds and no matter how much you beat earnings you won't go anywhere.

    • PM owners are taking things way to personal. Look at mighty Apple (AAPL)..even though iyt was up today, it close at $96, down from it's 52 week high of $202!!!! PM has been hit ard, but it's a being at 45% of it's 52 week high.

      Also, PM has one of the largest ownership levels among the Mutal Funds! When those guys gotta raise cash in a hurry, they go to their "inventory" to find things to sell, and PM makes up a large part of it!! Not to mention that it has suffered near as much as the Oil/Oil related stocks!

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