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