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Non-Tech : Philip Morris (MO)
MO 56.67+0.5%Nov 3 9:30 AM EST

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To: Geoff who wrote (28)4/8/1997 6:38:00 PM
From: Jack L. Dlugach   of 50
 
I sold off MO and RN last year because we ended up with a huge
holding of Imperial Tobacco from the Hanson spin-off and didn't
want so much tied up in the tobacco stocks.

Most educated guesses seem to think the litigation is already
priced into them, expecially MO, but it's hard to say how long
this stuff is going to keep the stocks depressed.

If you have a lot of it like we do with Imperial, maybe you should
consider your comfort level with the stocks and consider diversity.
Lots of good growth stocks still offer good dividends and don't
have that legal baggage to weigh them down.

Good luck.
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