Consumer >> Analyst Interviews >> August 27, 2001

Tobacco Stocks: David Adelman – Morgan Stanley Dean Witter

DAVID J. ADELMAN is a Managing Director and follows the US tobacco and packaged foods industries for Morgan Stanley. He joined the firm in 1990. He was ranked number two in tobacco in the 1999 and 2000 Institutional Investor All-America Research Team surveys. He earned a BA in Economics with honors and an MBA in Finance and Business Policy from the University of Chicago. He has testified before the Senate Commerce Committee and the Senate Judiciary Committee regarding national tobacco policy and the Department of Justice tobacco lawsuit. He is a member of the Consumer Analysts Group of New York and the New York Society of Security Analysts. Profile
TWST: David, how have the tobacco stocks performed in 2001 year to date?

What has been driving the performance of the stocks?

Mr. Adelman: To put it into context, the group performed extremely