HERE ARE SOME of the smartest ways to increase value from your investments: "Although cyclical 'value' stocks are unpopular, many are good values these days," says contrarian David Dreman. "Investing in companies with low price-earnings ratios is the smartest way to go."

"Sure, tax-free municipal bonds are confusing, but get to know them. They provide safety -- especially in a 'nosebleed' market like this one, and you'll never share your profits with Uncle Sam." (Working Woman)

"Find companies that raise payouts frequently. A stock yielding 1 percent with a 20 percent dividend growth rate is better than a 5 percent yield with a 5 percent dividend growth rate." (Moneypaper)

JUNE JOURNAL: "A great number of companies are overvalued. This condition could end miserably. We could be on the verge of a very bad market correction." (Carl Icahn in this week's Barron's)

"Never use an annual report as the only barometer for investment decisions. Use advisory services like Value Line and S&P; Outlook." (Carolyn Brown, financial writer)

"Internet companies that will thrive are firms that sell products or services online and companies that transform the Internet into a reasonably priced, reliable way for people to do what they need to do online." (Short on Value)

MARKET WATCH: This year "will duplicate 1998 -- another year of incredible double-digit gains. All fundamentals still intact -- steady growth, low inflation, low interest rates." (Robert Markham, money manager)

"It's a mistake to underest- imate this market's ability to climb a 'wall of worries.' " (S&P; Outlook)

"Investors should ride a young bull -- Europe." (Personal Finance)

Pub Date: 6/02/99