To: Jon Klaus who wrote (48817 ) 2/25/1998 3:16:00 PM From: Xpiderman Read Replies (1) | Respond to of 186894
Goldman Sachs Global Priority List Up Almost 24% on First Anniversary, Intel among the List Feb. 25 /PRNewswire/ -- The Global Priority List, Goldman Sachs' ''Best of the Best'' list of stocks, launched in February 1997, appreciated by 23.9% in US dollars, 3.8% above the FT/S&P-Actuaries World Index over the full year, the leading international investment banking and securities firm announced today. The list outperformed most markets in most sectors, with Europe making the most significant contribution to the absolute and relative performance. In addition, there was relatively little turnover during the year, in keeping with the long-term investment horizon laid out when the list was first formulated last year. Commenting on its performance, Jeffrey Weingarten, Global Equity Strategist said, ''We are very optimistic about the outlook for this List. Based on our criteria of choosing stocks of companies with sustainable competitive advantage, shareholder orientated managements and reasonable value, we believe this group of companies will outperform the global index.'' The continued aim of the Global Priority List is to bring focus to Goldman Sachs' best investment ideas globally. The current List includes twenty-six names, companies involved in businesses with an average return on equity of 24%, and expected long-term earnings growth of over 17%. The stocks listed are as follows: United States: AlliedSignal Inc [NYSE:ALD - news], Citicorp, El Paso Energy Corp. [NYSE:EPG - news], Gillette, IBM, Intel Corp . [Nasdaq:INTC - news], MBNA Corp. [NYSE:KRB - news], MGIC Investment Corp. [NYSE:MTG - news], Safeway Inc. [NYSE:SWY - news], The Estee Lauder Cos Others: Bass, BAT Industries, Ericsson, ING, Roche, Sema, Unilever, VEBA, Wolters Kluwer, Zurich Insurance Fujitsu, NTT, Sony Corp. [NYSE:SNE - news], Sumitomo Electric Inds Hutchison Whampoa, National Mutual Asia