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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (3905)4/24/1998 5:51:00 PM
From: Michael Burry  Read Replies (1) of 78465
 
The tobacco stocks are falling to another litigation-induced round
of lows. UST now has a 5.5% yield on about a 67% payout, and
Philip Morris has over a 4% yield on a much smaller payout. How
far will the market let them fall with those fat yields? I'm definitely
interested despite my loathing to go long. Price appreciation
should come once the litigation settles and also with a weakening
dollar.

Disclaimer: I bring these up only for discussion. I and the
accounts I manage have no ownership in these stocks.
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