The European financial crisis has been blamed for everything from earnings misses to the stock market's daily movements to bursting of the Tara Reid bubble.
Fears of what's next have slammed European bank stocks like Banco Santander and even providers of utility goods like France Telecom and Telefonica. But within that broader economic storyline, shareholders of Philip Morris International have profited handsomely. Even though Philip Morris relies on the European Union for 40% of its sales, its stock has almost tripled from its lows in 2009. All the while, it's been paying a hefty dividend that's still at a post-run-up 3.6%.
Fool analyst Anand Chokkavelu explains how this is just another example of the danger in relying too much on top-down analysis. The market always surprises.
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Anand Chokkavelu owns shares of Altria, Philip Morris International, and France Telecom. Andrew Tonner has no positions in the stocks mentioned above. The Motley Fool owns shares of France Telecom. Motley Fool newsletter services recommend France Telecom and Philip Morris International. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.