it is the most powerful company in the world $150 billion company philip morris international. it is very powerful their printing money because the cigarette paper wrapped in paper so you they use the war chest from litigation that is why we still smoke 6 trillion cigarettes which by the way 6 trillion cigarettes smoked every year is 350 billion miles of cigarettes and that is enough to make a continuous chain of cigarettes to the errors and the sun and back. and several round trips to mars. they are produced a 350 million miles per year faster than the rate of satellite's orbit the earth so pitcher a continuous cigarette smoked faster seeking get a sense of the scale of the problem. >> host: we're talking with professor robert proctor from stanford university. professor of history of science and here is his most recent book "golden holocaust" origins of the cigarette catastrophe and the case for abolition" >> now joining as a stanford university a more familiar name is the newest book this save your general's hall five great commanders say doors that were lost dr. hansen what

people $10,000 of philip morris stock in 1958 is worth $50 million today so these are still the most powerful companies in the world to love morris international law hundred $50 billion company they are very popular and printing money because the cigarette is paper wrapped in paper wrapped in paper with a war chest to influence government that is why we smokes $6 trillion. that is 350 million miles a cigarettes. with the continuous chain of cigarettes to the sun and back with enough left over with a round trip to mars. says cigarettes are produced a 350 million miles per year faster than the rate that satellite's orbit the earth. so pitcher being smoked data rate faster you forget a scale of the problem. >> host: booktv on c-span2 talking to professor robert proctor from stanford university from history and science professor his book "golden holocaust" origins of the cigarette catastrophe and the case for abolition"

let's begin by leaping in here, one of your choices is philip morris, i guess that's philip morris international as compared with altria. why do you like it? >> the main thinking, we're going for div dens and stability. div den growth. 3% dividend yielder, 10% growth potential in the underlying dividend. great when you can get that sort of an income, plus the growth on top of it, a stable business. people smoking habits, unfortunately, don't change through the times and they also have a very substantial growth exposure, a large market going into emerging markets and we think that is a huge growth opportunity for a lot of companies out there the other companies we're talking about meet that as well. they are seeing 10% to 20% increases in their wages in emerging markets. they spend more money on everything from toothpaste to cigarettes. >> talking about toothpaste, colgate on your list. the stock down today, but it's been up sharply this year. same investment theme, right? >> very similar investment theme. going for stability. toothpaste and dish washers, this is a -- this is your staples. you do

today, philip morris international alone is worth that much. $174 billion.ondelez and kraft, 109 billion. altria has more than doubled before the first spinoff was announced. that's where the s&p was just up 14%. oh, and that 100%-plus gain doesn't include the bountiful returns you get over the years, because they all pay hefty dividends. wow. those are the big three anchor breakups. what about the breakups here on mad money? marathon oil said it was breaking up into an oil and gas and refinery company. a few years later, marathon and conoco philips as a company i thought could follow in marathon's footsteps. marathon gave you a 30% gain between the announcement and when the breakup happened in 2011. how about this conoco? finally broke up in may, 2012. since then, conoco phillips are up. i think occidental, oxy could be next, which is why my charitable trust has been aggressive when it went down to the low- to mid-'80s. i bet you can get an advance similar to conoco if they would bring out the cleaver. how about this covidien, it was spinning off its pharma

planned as philip morris we need a third party validator so why don't we develop a tea party so they went out and hired literally that phrase oh not just the phrase you know the imagery of the flags they went and hired p.r. firms corporate p.r. firms to go to kentucky go to d.c. and organize these rallies and this is in ninety three it's ninety three it just didn't take off i mean they had these rallies it just didn't have cache and we see this over and over again in one thousand nine hundred seven dick armey with a set of other republican congressman they go to boston at that moment they're working with a bunch of corporate lobbyists that are trying to push the flat tax they want to get rid of the progressive income tax replace it with a flat tax everything with the same amount they dumped on the harbor they launch all these you know kind of organizations to support a new boston tea party to support the flat tax they were just kind of lampooned in the media no one took them seriously and we see. the koch brothers. their group citizens for a sound economy which changed to americans f

philip morris international is 150 billion-dollar company. very powerful, they are basically printing money in the cigarette industry. wrapped in paper, they use this that they get in litigation influencing government and that is why we still smoked 6 trillion cigarettes per year. which by the way, 6 trillion cigarette smoke every year, that's like 350 million miles of cigarettes. that is enough to make a continuous chain of cigarettes from the earth to the sun and back. with enough left over for several round trips to mars. it's amazing about mars being near orbit. so they have produced this each year, which is faster than the rate that satellites orbit the earth. so a continuous cigarette being smoked at a rate faster than you can get a complex scale of the problem. >> you're watching booktv pommel we have been talking about professor robert proctor of stanford university. professor of history of science and here is his most recent book. genteel. >> next, we sit down with doctor dr. scott atlas of the hoover institution to discuss his book,

irs is going to have to do a wholesale name change, sort of like philip morris came up with new nameews for the most part of the irs, people do not trust it. taking care of your most personal details, it's not going to work. >> eric: you are smiling. >> greg: the irs in charge of obamacare, like a junkie running a pharmacy. what it really is it's like the tsa. tsa invades you at most vulnerable stated. you are at the mercy of these entities, the irs in a way is like the tsa guilty of profiling. this persecution is more pernicious. they violent you at the -- violate you at healthcare. liberals don't violate us at bedroom and then crawl up your ass. >> you are terrible. >> remember this, targeting conservative groups. $179,000 that is salary plus bonus. 2010, $200,000. 2012, $203,000. salary plus $103,000 in bonuses. >> this woman should go. >> if she were in the private sector she would be getting paid for the responsibility three times that. >> bob: you point out about people in government. senior executives, she may not be very good one but you can't keep them unless you pay a decen

cbs, disney, philip morris, at night, those are all reaching new highs.ould just like to point out of this first day of make here at the milken conference, we are looking at record earnings for the s&p 500. anybody that you saw a business network to was whining about how bad earnings would become a record earnings for the s&p 500. 70 percent of companies have been estimates. let's get rights to the "floor show" with that in mind. the traders at stock exchange, cme, and nynex. of course, nicole petallides standing by. i want to get to the traders. we begin with doreen. i just gave that stuff 70 percent of the company's. better and better. yet they are still continuing to have a little bit of negativity where people are saying, watch out. they're missing certain revenue misses or bottom line, top lines >> reporter: everything seems to be so good all the time. recently, new high after new high. suddenly five months of straight dow jones new record performance . we get some disappointing job numbers out of atp. so a stark realization when you get numbers like

the irs is going to have to do a wholesale name change, sort of like philip morris when it loste its, retooled, revamped, comes up with a new name, a company that stays out of the news for the most part. the irs has -- people do not trust it. so you can't have them taking care of your most personal details. it's not going to work. >> greg, you're smiling. >> because the irs in charge ofe obamacare, it's like a junky running a pharmacy. what it really is, it's like th tsa, the tsa invades you at youa mostde vulnerable state. you are at mo the mercy of these entities. the irs in a wayies is like thea in that it's guilty of profiling. this percent persecution is more perion knishes. first they is violate you at the airport. they violate youle withnt your . they violate you with health care. t liberals always said, stay out of my bedroom and yet, it's okay for them to crawl up your ass. hold on. [ laughter ] >> take a look at what sarah hall ingram has made -- remembeu this, while she was targeting conservative groups. look at these numbers. $179,000, that's salary plus is bonus in 2009.

and big tobacco was fully complicit, to say, hey, smoke in your movies, philip morris paid for larks,000 for winston and campbells to smoke in "never say never again." so getting away from that is good for america. >> yeah, when you see cultural influence is huge. in looking at the segment, i looked at a study from 2006 that showed proof/correlation between watching a movie with alcohol in it and kids being more likely when they grew up to drink alcohol. and that was even controlling for other factors like whether their friends drank, which obviously is an impact. so you have that cultural predicate. you see it here as .37, the correlation on the chart. this is a real documented thing. which makes intuitive sense. if you see something enough, if it's cool, like, what's happening, then maybe you want to do it. the settlement you mentioned, toure, was important, because the attorneys general got tobacco to not only pay up for the daniels but also pulled back from this, which they knew -- they didn't need a study, they knew how to get people smoking. it reminded me something of senator

that lead us to things like philip morris international, colgate-palmolive and yum brand, all of whichached to that emerging markets theme. ashley: of course so much of the emerging markets are tied to china and we can never really get a clear picture what is going on in china. is it really, when we get this numbers is it really that good and or is it really that bad and how can you play that if you don't have all the facts? data in the emerging markets is going to be relatively sparse. there are going to be data points you can not trust. what you can trust though is the interactions with the global markets. you can trust the interactions between countries that you can trust their data reporting and the countries they do trade with, china being a relatively large trading partner we know exactly what their imports, exports look like. we have a pretty good idea what their electricity prices look like and there are a number of outside non-china data reporters, point to stats maybe a little muted than what the chinese government itself tends to report. we continue to believe there is stren

i mean, you look at pfizer and philip morris, you'll see that -- >> ibm. >> -- consumer staples, you know, they sort of are really marginal as far as further up side is concerned. but what you've seen is a rotation. as i said, all tech and defense companies, unloved and unwanted areas look attractive right now. >> are you out of bonds or you still have a fixed income component? >> very small fixed income component, short duration. i think you need to -- it may be two, three, four years before we see interest rates come up, but nobody wants to be caught leaning the wrong way. >> yeah, how about you, michael? >> i think that chris is right. i think that there's a significant rotation going on. it's noteworthy that the leaders in the market this year have been the defensive companies, not the industrials, not the technology companies, and the reason that that's the case is simply because they have dividends and good dividends. so, as people have been staying out of bonds and moving into equities, they've been looking for the yield. that's very good for those companies, but we may very w