Altria

Sehr interessant für mich als Zweifler und Skeptiker zu lesen, wie DividendSensei das totale Gegenteil ist und volle Kanne zuschlägt!

".. But Altria is where I really made my move, pounding away with gleeful opportunistic buying again and again in recent weeks. That's due to a perfect storm of merger uncertainty and scary vaping headlines causing this 8% yielding dividend king (that's still growing at 8% over time) to fall off a cliff and become 35% undervalued (40% based on 2020s expected growth).

With my risk limits set to levels I can sleep very well at night with (even if I turn out to be totally wrong), I plan to chase Altria down to its final bottom (or a 1,000 share position, whichever comes first).
.. 
Then again, Altria is the best performing stock of all time (20% CAGR returns over 55 years), despite:

• US smoking rates falling every year since 1964.
  
  
• Cigarette volumes falling every year for over 50 years.
  
  
• The US banning tobacco advertising on TV in 1970.
  
  
• Smoking banned on planes in the 1990s.
  
  
• 1998 $206 billion Master Tobacco Settlement (many thought this would bankrupt the industry).
  
  
• Smoking banned in most businesses in the 2000s.
  
  
• Smoking banned in most US parks by 2014.
  
  
• Current FDA regulatory threats against menthol/vaping/nicotine levels.
  
  
  

Management's job is to deal with risks, and grow cash flow and dividends despite risks to the fundamentals. Altria's track record on delivering 8% historical cash flow and dividend growth is exceptional. Not because nothing ever went wrong, but despite something ALWAYS going wrong. .. "


https://seekingalpha.com/article/4292958...-portfolio