The following video is part of our "Motley Fool Conversations" series, in which consumer goods editor and analyst Austin Smith discusses topics across the investing world.

In today's edition, Austin helps investors answer the question: Should I buy Kraft today? He sees a bear and bull case to be made as they move closer towards their spin-off into two companies: a global snacks division and a domestic grocery business.

Austin Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Altria Group, PepsiCo, and Philip Morris International. Motley Fool newsletter services recommend PepsiCo and Philip Morris International. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.