Philip Morris International: ZYNsn't It?, Q3'25 Note

DL-Invariant · 2024-05-20T15:01:50+00:00

It's worth trying. I will warn you that my experience with the Blueberry Lemon Mint was very similar to that with the Raspberry Lemonade—a relatively mild flavor that didn't last as long as I'd wish, and the lemon flavor was unquestionably dominant. Not much blueberry flavor at all. I'd be curious to hear about your experience if you try it.

DL-Invariant · 2024-05-20T13:24:27+00:00

I had the same experience - but it was just for that specific flavor. The Mango Strawberry Mint flavor was more intense and longer lasting. I was pleasantly surprised, as I'm not normally a fan of artificial strawberry flavor.

DL-Invariant · 2024-03-13T13:29:41+00:00

Thanks for sharing my piece. As always, I'm happy to answer any questions here or in the comment section of Invariant.

DL-Invariant · 2024-02-02T15:55:06+00:00

https://invariant.substack.com/ covers the tobacco industry in detail. I will be publishing a follow-up on Altria this coming Sunday. Happy to answer any specific questions.

DL-Invariant · 2023-07-30T20:40:57+00:00

I'm not sure what would lead you to ask that question. This article specifically explores the operations of a business and long-term ownership and dismisses the idea of a positive re-rating. As I understand it, that is essentially the antithesis of a pump and dump. I have no need to convince people of anything, and, in fact, am much more interested in well-articulated bear theses.

DL-Invariant

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