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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: md1derful who wrote (1730)	6/6/1998 7:32:00 PM
From: Xpiderman	Read Replies (1) \| Respond to of 6439

According to Investor's Business Daily (6/8/98), David Dreman, manager of Kemper-Dreman High Return Fund, is the mutual fund industry's leading proponent of an investment style that many of his contemporaries find absurd. Instead of putting the fund's $4.5 billion in assets into the market darlings of the moment, Dreman chases resilient companies that have been beaten down. He bought bank stocks when they were out of favor in the early 1990s. He took in pharmaceuticals when they came under pressure in 1993. Dreman has made his style work for fund shareholders in a market that rewards earnings and growth. The fund is rated A+ by IBD for its 36-month total return of 139%. It rose 40% in the past year. It's struggling so far this year, with a 6% return. The biggest holding in the fund right now is Philip Morris. "We are lagging the market currently because we are playing the tobacco stocks the same way we played the bank stocks a few years ago. Tobacco is the most hated industry I can recall, but some of the stocks will rebound". He believes Philip Morris will have the biggest rebound. "It is an enormous consumer products company. It's trading at 37, but the breakup value of the food and beer business alone is about 45. The entire company is worth 60". He also owns Freddie Mac and Fannie Mae and Hewlett-Packard.