A Quote by R. J. Reynolds
If our company is to survive and prosper, over the long term we must get our share of the youth market.
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It should be said that we are presently, and I believe unfairly, constrained from directly promoting cigarettes to the youth market...Realistically, if our Company is to survive and prosper, over the long term, we must get our share of the youth market. In my opinion, this will require new brands tailored to the youth market.
We started our company out of a need to survive, but we've built it based on a mission not only to help others survive but to prosper. Because of that, our purpose - to empower people to live more beautiful lives - compels us to keep community at our core.
Value investing doesn't always work. The market doesn't always agree with you. Over time, value is roughly the way the market prices stocks, but over the short term, which sometimes can be as long as two or three years, there are periods when it doesn't work. And that is a very good thing. The fact that our value approach doesn't work over periods of time is precisely the reason why it continues to work over the long term.
We have always said that over the medium and long term, we will disinvest some part of our holding in our major subsidiary companies, and life insurance is our largest subsidiary company.
Our society does reward beauty on the outside over health on the inside. Women must not be blamed for choosing short-term beauty "fixes" that harm our long-term health, since our life spans are inverted under the beauty myth, and there is no great social or economic incentive for women to live a long time.
As long as we place millions of Indians at the canter of our thought process, as long as we think of their welfare, their future, their opportunities for self realization we are on the right track. For India can grow, prosper, flourish only if they grow, prosper, flourish. We cannot grow by any esoteric strategies. Our purchasing power, our economic strength, our marketplace all depends on the prosperity of our people.
It's not about market share. If you have a successful company, you will get your market share. But to get a successful company, what do you have to have? The same metrics of success that your customer does.
We started our company out of a need to survive, but we've built it based on a mission not only to help others survive but to prosper. In fact, we view ourselves as a mission with a business, rather than a business with a mission.
Evidence is now available to indicate that the 14-to-18- year-old group is an increasing segment of the smoking population. RJR-T must soon establish a successful new brand in this market if our position in the industry is to be maintained over the long term.
A market downturn, doesn't bother us. For us and our long term investors, it is an opportunity to increase our ownership of great companies with great management at good prices. Only for short term investors and market timers is a correction not an opportunity.
Being captive to quarterly earnings isn't consistent with long-term value creation. This pressure and the short term focus of equity markets make it difficult for a public company to invest for long-term success, and tend to force company leaders to sacrifice long-term results to protect current earnings.
We believe strongly that in the long term, we will be better served - as shareholders and in all other ways - by a company that does good things for the world even if we forgo some short term gains. This is an important aspect of our culture and is broadly shared within the company.
If our country is to survive and prosper, we must summon the courage to condemn and reject the liberal agenda, and we had better do it soon.
Our economy will not prosper as long as it is monopolised (by the government). The economy must be rid of monopoly and see competition, it must be freed of insider speculation, be transparent, all people must be aware of the statistics. If we can bring transparency to our economy, we can fight corruption.
India is a large market where our focus will be to grow faster than the market and add few percentage points to our market share every year.
Over the long term, despite significant drops from time to time, stocks (especially an intelligently selected stock portfolio) will be one of your best investment options. The trick is to GET to the long term. Think in terms of 5 years, 10 years and longer. Do your planning and asset allocation ahead of time. Choose a portion of your assets to invest in the stock market - and stick with it! Yes, the bad times will come, but over the truly long term, the good times will win out - and I hope the lessons from 2008 will help get you there to enjoy them.
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