At the moment I am leaning toward Heineken, which seems reasonably valued at a p/e of 12.8 and 2.13% dividend. I need to read more about BUD. Probably both will do fine as you say.Another possibility would be to look at the more desirable parts of Heineken's business (or BUD's), the emerging markets for instance where they have partners, and buy shares in the partners. United Breweries in India has been on a tear this year, but Asia Pacific Breweries is still reasonably valued at a p/e of about 16 with a clean-looking balance sheet, and it trades on the pink sheets. But I am looking for one-stop stocks actually, because my BAC account is becoming a Merrill Lynch one, and they do not allow the foreign mutual fund I have been reinvesting for years, so I thought I would put half into a foreign beer co., and half into a foreign tobacco one, and save the annual 1% management fee to boot. (Nestle would be fine too, but it is a little more expensive.)
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