Undervalued Stock #1 ========== -------------- Morgan Stanley (NYSE: MS) -------------- Insider Name: Roy J. BostockInsider Position: DirectorInsider Action: 6,250 shrs on 12/15/2006Insider Total Holding: 25,052 shrs -------------------------------------------------------Undervaluation Merits... P/E Ratio = 11.5 (Industry Average 13.5)P/S Ratio = 1.12 (Industry Average 3.63) Industry: National Investment Brokerage -------------------------------------------------------Other Merits... Dividend Yield = 1,30% -------------- Morgan Stanley (NYSE: MS)