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

To: Robert Hoefer who wrote (3761)	4/4/1998 9:21:00 PM
From: James Clarke	Respond to of 78525

RN (RJR Nabisco) looks unbelievably cheap. And has looked unbelivably cheap for the last two years without going anywhere. Spin off the food business and you've got a domestic tobacco stub which last I checked trades for about $5 and pays a dividend of about $1.50. This is why a lot of value hedge funds buy RJR and short Nabisco which trades as a separate letter stock I believe. That said, RJR is no substitute for Philip Morris because RJR does not have the international tobacco business.