DJIA 2004 4 Most Undervalued


S&P 500 EBI Portfolio - Averaged 19% Since 2003!!

DJIA 2004 4 Most Undervalued Sorted by Return
Company Name	Ticker	Price 1/1/2004	Price 12/31/2004	2004 Return	10 Year Downside Target 1/1/2004	10 Year Upside Target 1/1/2004	Price / Downside Target 1/1/2004	Expected Earnings Growth 1/1/2004	Altman Z Score 1/1/2004	Simple Intrinsic Value 1/1/2004
Johnson & Johnson	JNJ	$51.66	$63.42	24.9%	$57.88	$83.81	-10.8%	13.7%	7.26	$56.32
Home Depot	HD	$35.49	$42.74	21.3%	$44.13	$85.19	-19.6%	10.9%	7.72	-
AT&T Corp.	T	$20.30	$19.06	-1.4%	$33.24	$61.09	-38.9%	108.8%	-	$97.83
Merck & Co.	MRK	$46.20	$32.14	-27.2%	$63.16	$98.97	-26.9%	5.5%	3.88	$61.26
** Total Portfolio Return				4.41%

** Total Portfolio Return assumes equal amounts of cash invested into each company and includes dividends.