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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who started this subject	6/16/2001 1:40:15 PM
From: James1000	Read Replies (1) of 2155

People are rushing to the food sector as a haven from the market decline. Phillip Morris just sold Kraft foods for 9 billion. Krispy Kreme doughnuts stock has gone up several hundred percent in the last few months, for a pricetag of 2 billion, reaching a P/E of well over 100. They like these stocks because in a down market people will still need food. However, I think this is a huge mistake. Yes, people will need food, but people certainly do not need doughnuts, and they don't need premium brand food that costs more than runner up food sellers that offer better deals. It would only makes sense for people to buy cheaper food if they barely have enough money for food. Chart of Krispy Kreme finance.yahoo.com Food sector news marketwatch.com

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