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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (19964)	10/26/2004 2:35:33 PM
From: Larry S.	Read Replies (2) \| Respond to of 78659

MMC - MArsh McClennan rallying back towards 30 on news of new CEO and no criminal charges from Spitzer. Stock now has divi yield of over 5% and PE of 10 (which will go up as write offs occur)- i see MMC as another TYC/CD/EDS and the value guys will be sniffing around it soon. i have a small position, and one in AIG too that i've entered in the past two weeks. larry

To: Paul Senior who wrote (19964)	10/28/2004 11:07:42 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78659

re BUD What i don't like with BUD is that they have been increasing their debt steadily over the last years, mostly due to the cash spend on stock buybacks. This has steadily reduced the # of stocks outstanding and subsequently increased their earnings/share growth rates. I feel that given the current debt levels this is not going to be sustainable much longer. If BUD bites the bullet and reduces the stock buyback to conserve cash the earnings growth rates will fall deep into the single digits which will make a stock with a P/E of 19 anything but cheap.