Barclays warned on Friday that Petrobras could be a value trap over the next 18-24 months.

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The emphasis on high dividend paying stocks is a value trap unless fundamentals of these companies are sound.

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But before you fall into a value trap, check out the current buy list in Forbes International Investment Report.

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"Some of these companies looked good by a lot of historic measures, but they fell into the classic value trap, " says Jeb B.

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Now this could be a value trap if RIM truly missed the market and is on the verge of a major shift in customers.

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In particular, Chanos highlighted ITT as a value trap.

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Looks like a value trap to me.

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Or is it a value trap?

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