The investors next door: trying to figure out the best moves in today's market? Listen to the strategies from members of some of the nation's leading investment clubs. (Investment Roundtable).IT HAS BEEN A TOUGH MARKET FOR THE SMALL INVESTOR Small investor An individual person investing in small quantities of stock or bonds. This group of investors makes up a minimal fraction of total stock ownership. small investor . SOME DON'T EVEN BOTHER TO OPEN their quarterly 401(k) statements, frustrated frus·trate tr.v. frus·trat·ed, frus·trat·ing, frus·trates 1. a. To prevent from accomplishing a purpose or fulfilling a desire; thwart: by their eroding nest eggs Nest Egg A special sum of money saved or invested for one specific future purpose. Notes: Examples of the purposes for which nest eggs are usually intended include retirement, education, and even entertainment (vacations and cruises). . Moreover, investor confidence has not been revived re·vive v. re·vived, re·viv·ing, re·vives v.tr. 1. To bring back to life or consciousness; resuscitate. 2. To impart new health, vigor, or spirit to. 3. by Senate hearings on shabby shab·by adj. shab·bi·er, shab·bi·est 1. a. Showing signs of wear and tear; threadbare or worn-out: shabby furniture. b. corporate accounting practices or handcuffed execs doing a "perp perp n. Slang One who perpetrates a crime. perp Noun US & Canad Informal a person who has committed a crime [short for perpetrator] " walk before television cameras. Not even President George W. Bush or Fed chairman and market oracle Alan Greenspan Alan Greenspan Dr. Greenspan is Chairman of the Board of Governors of the Federal Reserve System. Dr. Greenspan also serves as Chairman of the Federal Open Market Committee (FOMC), the Fed's principal monetary policymaking body. has had any effect on a market noted for sucker rallies sucker rally A sharp, abbreviated upturn in stock prices that occurs during a major bear market. and false bottoms. We have assembled as·sem·ble v. as·sem·bled, as·sem·bling, as·sem·bles v.tr. 1. To bring or call together into a group or whole: assembled the jury. 2. what we call "the investors next door"--individuals who seek to build wealth through investment clubs. They represent top stock-pickers from leading investment clubs: Bernadette Johnson, past president of the Raleigh-Durham, North Carolina-area-based Black Women Investment Corp., a 13-year-old organization comprised of black women between the ages of 30 and 55; Marcus Plump, chairman of Millionaires-Thru-Christ Investment Club, an 18-month-old club whose working-class members belong to Salem Baptist Church in Chicago; Okorie Ramsey, treasurer of the San Francisco-based investment club Awareness To Action Investments (ATAI ATAI Art Teachers' Association of Ireland (Dublin, Ireland) ), an organization mostly comprised of members of the National Association of Black Accountants; Clark Grain, treasurer of the 19-year-old Zenith zenith, in astronomy, the point in the sky directly overhead; more precisely, it is the point at which the celestial sphere is intersected by an upward extension of a plumb line from the observer's location. Investment Club in Framingham, Massachusetts Framingham is a town in Middlesex County, Massachusetts. As of the 2000 census, the population was 66,910, making it the most populous town in New England. The 2005 population estimate is 65,598. ; and Baunita Greer, a director of the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of chapter of the National Association of Investors Corp. (NAIC NAIC See National Association of Investors Corporation (NAIC). ), an organization that helps develop investment clubs and a member of New York-based CMG CMG Coastal & Marine Geology (USGS) CMG Chipotle Mexican Grill, Inc. (stock symbol) CMG Companion (of the Order Of) St Michael and St George CMG Computer Measurement Group Investment Club, which is composed of several professionals. Our editorial team discussed with them their strategies for collective and individual wealth building. BLACK ENTERPRISE: How do your members feel about investing in this tough environment and have they been able to maintain their financial commitment to investing? OKORIE RAMSEY: As accountants, we are very positive about the market and what it can do. We've seen the downs and the ups. Actually, I would say that our financial commitment is stronger. As far as the impact of the market on our investments, we've probably lost about 20% of our initial investment from inception. But we believe this is a time to buy the right stock. You shouldn't just buy anything. They're all cheap right now. By knowing where these companies can go and [by] doing the research, you can still find good deals and get a good return. MARCUS PLUMP. Our commitment has kind of fallen off a bit. The treasurer and I have had to be motivators because we're working people and what we put in could affect whether someone is going to eat. Basically, we've had to inform [our members] that right now is the best time to buy. B.E.: Has your membership held steady? PLUMP: We were up to 18 members. We went down to about eight, but now we're back up to about 12. We're a God-based club and we're looking at Proverbs Proverbs, book of the Bible. It is a collection of sayings, many of them moral maxims, in no special order. The teaching is of a practical nature; it does not dwell on the salvation-historical traditions of Israel, but is individual and universal based on the 13:22, where a wise man leaves an inheritance inheritance, in law inheritance, in law: see heir. inheritance, in biology inheritance, in biology: see heredity. inheritance Devolution of property on an heir or heirs upon the death of its owner. to his children's children. That's why we started [the club]. If my grandfather had left me a quarter of a million dollars, would I be in the same situation that I'm in right now? We have let [members] know that this [bear market] is a test. BERNADETTE JOHNSON: Our financial commitment has held up very well. We've been blessed that our partners' job situations have been fairly stable throughout this period. As far as financial commitment, we've kept our minimum fairly low to $35 a month plus some dues and fees to take care of incidentals, mailings, [etc.]. We did not want the club to be another wolf at the door. But also there is a commitment to the club so if someone were to lose a job or hit a tough spot, and were not able to meet our financial commitment, we would [first] ask that she let the president know. Second, [we ask members to] maintain the rest of their commitment to the organization [by] following their stock and helping the club in other ways because this is a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. commitment for us. We wouldn't say, `Well, you missed three payments so you're out.' We would work with [the individual to create] something that is workable for the long haul Long distance. Long haul implies traversing a state or a country. Contrast with short haul. . BAUNITA GREER: We have seven members and haven't lost any. We recently had a meeting. Our group is comprised of one very conservative person, two very aggressive people, and everyone else in the middle. We do quarterly reviews of our portfolio. [Right now] we see buying opportunities. We're re-evaluating a lot of stocks that [sold at] premiums before to see if this is the opportunity for us to get in. CLARK GRAIN: Well, we haven't lost any enthusiasm. In fact, we've added a new member during this market fluctuation Fluctuation A price or interest rate change. . We have 16 [members] now. Everyone was a highflier high·fli·er also high-fli·er n. 1. One who is extravagant or extreme in manner or opinions. 2. A stock that sells well above its original value. Noun 1. during the mid- mid- pref. Middle: midbrain. 90s. We made one fundamental mistake, [though]. We did not pay attention to the charts. We've lost about 30% of our value. We could have probably lessened less·en v. less·ened, less·en·ing, less·ens v.tr. 1. To make less; reduce. 2. Archaic To make little of; belittle. v.intr. To become less; decrease. that to 10% or 15% had we paid attention to the charts. The one lesson we learned [is that] there is a time to sell--even with your favorite stock the one that has been making beaucoup beau·coup also boo·coo or boo·koo Chiefly Southern U.S. adj. Many; much: beaucoup money. n. pl. money for you. In the past, we have held no more than 1% cash. All of [our portfolio] had been in equities. These days, we have 35% of [it] in cash. We're just waiting for the right moment to pounce on a stock that we think is going to appreciate. And we've actually made some purchases and have done reasonably well, but we are very, very careful now. It may take two or three meetings to even think about buying a stock. But that means that everyone has done a lot of work. B.E.: Has your club changed its investment strategy or philosophy in this environment? GRAIN: We're looking at more data. For example, we recently focused on the cash flow statement [and it] helped us get out of some really bad stocks. [One example is] AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner (NYSE NYSE See: New York Stock Exchange : AOL). After they bought Time Warner, which was probably the dumbest move that any company could have made, we began to look at their cash flow statements and they were not good. So we dumped dump v. dumped, dump·ing, dumps v.tr. 1. To release or throw down in a large mass. 2. a. them. We did the same thing with Tyco (NYSE: TYC TYC Texas Youth Commission TYC Torneos Y Competencias (Argentina) TYC To Your Credit TYC Toronto Youth Cabinet (youth members of the Toronto City Council) TYC Teconnaught Youth Club (Ireland) ). Before the scandal broke, we dumped Tyco because its cash flow statements were beginning to look kind of shaky. RAMSEY: Actually, now we're looking at the auditors just as a security measure. Besides that, we have not really gotten off course. One of the tools we use is the [NAIC] Stock Selection Guide [SSG SSG abbr. staff sergeant ], which helps you look at historical sales, earnings per share, [and] company performance. One thing that we are doing a little bit differently is that we used to look at one or two companies in the same industry. Now we have broadened that to maybe three or four. We try to figure out which one has the best results, historically, and which has the best potential for future growth. That has been a strategy that has worked pretty well for us. B.E.: How do you identify stocks to avoid? GREER: We look at the SSG [for] anything that is fundamentally deteriorating de·te·ri·o·rate v. de·te·ri·o·rat·ed, de·te·ri·o·rat·ing, de·te·ri·o·rates v.tr. To diminish or impair in quality, character, or value: . We look at historical sales and revenues, and then our [growth] projection with regard to [how well the company] will do over the next five years. [Next,] we look at management, the price-earnings [ratio], what we call `the buy range', and [whether] the stock [price] will appreciate 15% within five years. We look at those five criteria and see if three or four of those are deteriorating [or] not meeting the mark. We want to make sure our stocks are doubling their price every five years. JOHNSON: We've tried to continue to make purchases with dollar-cost averaging dollar-cost averaging Investment of a fixed amount of money at regular intervals, usually each month. This process results in the purchase of extra shares during market downturns and fewer shares during market upturns. [purchasing stocks at a set amount at regular intervals] in mind. [We] try to stick to what we know, continue to choose good companies, and stick to our fundamentals. PLUMP: We basically stood still and took more cash. We [reviewed] the situation with the war and looked at the government, which needs money. [Therefore] we've looked into savings bonds Savings bond A government bond issued in face value denominations from $50 to $10,000, with local and state tax-free interest and semiannually adjusted interest rates. savings bond A nonmarketable security issued by the U.S. . That's the safest [place to] invest right now. B.E.: How are you managing members' expectations, especially those of aggressive younger investors vs. older conservative members? GREER: We listen to what a person's concern is. If someone is bringing something to the table and we're a little aggressive, we are going to sit back and take in what [he or she is] saying. We are all equal partners and we are trying to work together. We are definitely not going to discount our conservative member. We make sure that everyone is comfortable with what we're doing and if they're not, we have to re-evaluate it. GRAIN: First, look at the age make-up Make-up The amount of deficiency when a cash flow or capital item is deficient. For example, an interest make-up relates to the interest amount above a ceiling percentage. of our club. It ranges from early 30s to mid-70s. We do have our aggressive and conservative wings. Surprisingly, one or two of the mid-70s are the aggressive ones. The arguments usually result after someone proposes buying a certain number of shares. We aggressive types, if we think the company is going to move, [we say], `Hey, let's get a bunch, [maybe a] couple of hundred, [maybe] $300 shares.' The conservative folks will usually object. Most of the time there is a compromise. B.E.: Can you give an example of such a compromise? GRAIN: When we were high flying, I was an advocate of the younger, very high-growth companies, as long as their earnings per share were increasing at a phenomenal rate. I introduced that type of company but sometimes I hadn't done all of the homework. Of course the conservative person, naturally, does all of the homework There are debates with how carefully you've done your analysis. [Therefore, we ask] `Are you too enthusiastic about something that is flawed flaw 1 n. 1. An imperfection, often concealed, that impairs soundness: a flaw in the crystal that caused it to shatter. See Synonyms at blemish. 2. ?' GREER: But that's the positive of an investment club, having a variety of personalities and philosophies so that you can balance it out. JOHNSON: For us, balance is really the key. Having 16 partners from schoolteachers to salespeople sales·peo·ple pl.n. Persons who are employed to sell merchandise in a store or in a designated territory. , we bring all of our different experiences to the table. [Since] we've been together for awhile a·while adv. For a short time. Usage Note: Awhile, an adverb, is never preceded by a preposition such as for, but the two-word form a while may be preceded by a preposition. , we also know what will fly with the club and what will not. I think it's important for [those who are] considering getting involved in an investment club or starting [one] to set the parameters of what you are looking to do. If you want to build a club of highfliers--people who are extremely aggressive--then say that up front. If you need a conservative group of people, then go ahead and get a conservative group, but know what types of investments, time horizon, and returns you're interested in. PLUMP: My club is between 35 and 50. We're real conservative because we're kind of new to the game. We haven't been through the [stock market] crash of 1987 or anything [like that]. A lot of our members are just learning the stock market and what a stock is. So we are looking at companies that have been around for a long time and that we know, over the long haul, will make money. B.E.: How have the goals of the investment club changed since this bear market? How have you diversified diversified (di·verˑ·s your club's holdings? RAMSEY: Our goals haven't really changed as far as education, shared risk, and shared reward [are concerned. We're looking to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. .]When you buy a consumer staple 1. (language) STAPLE - A programming language written at Manchester (University?) and used at ICL in the early 1970s for writing the test suites. STAPLE was based on Algol 68 and had a very advanced optimising compiler. 2. or a technology stock, you're in equities, so you are still not diversified. Now, we're looking at mutual funds [and] real estate. We ventured into mutual funds seven years ago because we wanted to mitigate mit·i·gate v. To moderate in force or intensity. mit  i·ga tion n. our risk from
an individual stock.JOHNSON: I would say that our goals haven't changed over the years but how we look to implement them is evolving. Since we've been together for a while and have a good number of stocks in our portfolio, we are interested in looking at other avenues, not because of the current economic situation but because we want to learn more about other ways to make money. In addition to stocks, we are looking at real estate--maybe not directly, but [through] real estate investment trusts [REITS REITS Real Estate Investors of the Tri-States (Harrison, TN) ]. PLUMP: We're looking at [diversifying] about 20% [of our holdings] into real estate. We want to rehab a neighborhood, fix and sell [properties], and put [the money] back into the club. GREER: We evaluate our investment philosophy, which is long-term but we also want to make sure that we have diversity in the equity markets in regard to large-, mid-, and small-cap [stocks]. So we review the portfolio quarterly and see if we need to get rid of one company or another, B.E.: At this point, how does your individual portfolio differ or match your investment club's portfolio? GREER: Well, mine differs in that stock that the club is not necessarily interested in--like [The] Men's Wearhouse Men's Wearhouse (NYSE: MW) is the largest men's dress apparel retailer in the United States. The company is based in Houston, Texas, and is publicly traded on the New York Stock Exchange. The company was founded by George Zimmer in 1973. (NYSE: MW)--I would have in my portfolio. You're able to review your portfolio on a regular basis [and] just buy what you want. [However,] I know in a number of cases, I've had companies and [my club members have] said, "Why didn't you share that with us?" GBAIN: Essentially, my personal portfolio has some of the stocks that are in our club portfolio, but since I'm the aggressive one in the club, I've taken my aggression aggression, a form of behavior characterized by physical or verbal attack. It may appear either appropriate and self-protective, even constructive, as in healthy self-assertiveness, or inappropriate and destructive. out on my personal stocks. [My personal portfolio has] actually done pretty well I have the advantage of being able to buy, sell, and review if I wanted to on a daily basis, but at least a weekly basis, to re-balance and so forth. It has been a nice experience to have the freedom and still make money. RAMSEY: I'm a little more aggressive outside of the club. My wife and I got into a couple of mutual funds, some individual stocks, and IRAs to help build our personal portfolio. It definitely doesn't mirror [the club's holdings]. We just try to put money where we think it will add value and maintain a pretty good cash flow as well. JOHNSON: I set aside a small amount of my personal portfolio for more aggressive things. I [have invested in] things like eBay (Nasdaq: EBAY), which was interesting [and] didn't have the long history that the club would have been comfortable with. B.E.: Do you believe President Bush's handling of the current accounting scandals Accounting scandals, or corporate accounting scandals are political and business scandals which arise with the disclosure of misdeeds by trusted executives of large public corporations. has either hurt or helped investor confidence and the economy overall? RAMSEY: I think Bush's handling of [the scandals] has not had an impact or a somewhat negative impact. I think part of the issue is that people don't trust him. [He] can't even get [his] story straight as to his own personal issues with accounting and explain that in a way that the American people An American people may be:
B.E.: Early on, each time Bush spoke on TV about this, the market went down. JOHNSON: That's not a good sign. What I've seen from both investor confidence and consumer confidence is the response to Alan Greenspan. He's been maybe more instrumental in calming things down and trying to get everybody on an even keel keel 1. the ventrally directed large surface of the bird's sternum, the site of attachment of the major muscles of flight. Called also carina. 2. the prominent area over the sternum in Dachshunds. . GREER: Investors are cautious and wary. In regard to Greenspan, they see him saying that we are recovering but they see their friends, neighbors, and themselves losing positions. After 1987, we didn't lose a lot of people down on Wall Street, but [from] 1989-1990, it became a little bit like a ghost town ghost town, term for any once flourishing American community that has been abandoned, generally for economic reasons. While most of the towns have little or no population, they often contain old buildings, which may serve as tourist attractions. . It's happening again. B.E.: Do you believe we'll see a market bottom this year? GRAIN: I think it's going to be a little more painful [because] 2003 is not going to be a wonderful year. [The market] may improve a little but it's going to be slow and painful. GREER: Clark is right. I think we'll see a slight improvement but even if there is a drastic improvement, we are going to go through some more pain. B.E.: So what should investors do now? GREER: Unfortunately, Americans are into instant gratification GRATIFICATION. A reward given voluntarily for some service or benefit rendered, without being requested so to do, either expressly or by implication. and [they] don't want to see that a bond price is better than [their] stock returns. You see what happened in the 1980s when we had those interest rates [as high as] 14%. Everybody was ready to forget about equities and put everything into the bond market. The reality is that all of us should have a percentage of our portfolios in bonds. That's part of the diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. . If you're sitting on the side, you're going to miss your opportunity. JOHNSON: Your time horizon is so critical. We talk about five or 10 years. We talk about people saving for retirement in 20 years or [so]. If we can segregate seg·re·gate v. seg·re·gat·ed, seg·re·gat·ing, seg·re·gates v.tr. 1. To separate or isolate from others or from a main body or group. See Synonyms at isolate. 2. parts of our portfolio then we [can identify] what we need in 10 years, 20 years, [or] what we can pass on to the next generation. I recently found out that my great-great grandfather owned stock. [My family] had shares of American Home For the American mortgage lender, see . The American Home is a center of intercultural exchange located in Vladimir, Russia. The home is designed to model a typical American suburban home and its main focus is the ESL school that provides lessons for Russian students. Products [now called Wyeth (NYSE: WYE)] that they sold in 1937. If [those dividends] had been reinvested, our family would have easily had a million dollars that we could use to put all the kids through college [or] give everybody a nest egg when they start out. Think about [investing] for your grandchildren's retirement instead of buying all the Tinkertoys. With that time horizon, it makes it more comfortable to live through the day-to-day turmoil in the market right now. PLUMP: Get started and stay focused. Get your people together and hammer it in that you're not just doing it for them but for their children. Three years ago I didn't even think about investing. But now, I'm thinking about my children investing. My daughter just [turned] 15. She wants to start her own investment club--at 15. If I had started my own [club] at 15, I could probably have a nice nest egg for my children. So, it's making me think bigger. I'm not intimidated in·tim·i·date tr.v. in·tim·i·dat·ed, in·tim·i·dat·ing, in·tim·i·dates 1. To make timid; fill with fear. 2. To coerce or inhibit by or as if by threats. .
ZENITH INVESTMENT CLUB
Price at
Stock (Exchange: Ticker) Recommendation *
Automate Data Processing (NYSE: ADP) $34.75
Freddie Mac (NYSE: FRE) 61.01
Fannie Mae (NYSE: FNM) 73.01
5-Year Estimated
Stock (Exchange: Ticker) EPS Growth Rate
Automate Data Processing (NYSE: ADP) 14.4%
Freddie Mac (NYSE: FRE) 14.4
Fannie Mae (NYSE: FNM) 13.8
* AS OF AUGUST 5, 2002 SOURCES: YAHOO! FINANCE.COM; ZACKS.COM
MILLIONAIRES-THRU-CHRIST INVESTMENT CLUB
Price at
Stock (Exchange: Ticker) Recommendation *
Procter & Gamble (NYSE: PG) $88.00
ExxonMohil (NYSE: XOM) 32.29
Coca-Cola (NYSE: KO) 48.36
5-Year Estimated
Stock (Exchange: Ticker) EPS Growth Rate
Procter & Gamble (NYSE: PG) 10.4%
ExxonMohil (NYSE: XOM) 9.0
Coca-Cola (NYSE: KO) 11.4
* AS OF AUGUST 5, 2002 SOURCES: YAHOO! FINANCE.COM; ZACKS.COM
AWARENESS TO ACTION INVESTMENTS
Price at
Stock (Exchange: Ticker) Recommendation *
Costco (Nasdaq: COST) $31.85
Starbucks (Nasdaq: SBUX) 18.63
Wellpoint Health Systems (NYSE: WLP) 66.31
5-Year Estimated
Stock (Exchange: Ticker) EPS Growth Rate
Costco (Nasdaq: COST) 13.9%
Starbucks (Nasdaq: SBUX) 21.7
Wellpoint Health Systems (NYSE: WLP) 15.7
* AS OF AUGUST 5, 2002 SOURCES: YAHOO! FINANCE.COM; ZACKS.COM
BLACK WOMEN INVESTMENT CORP.
Price at
Stock (Exchange: Ticker) Recommendation *
Harley-Davidson (NYSE: HDI) $42.83
Oracle (Nasdaq: ORCL) 9.01
CISCO (Nasdaq: CSCO) 11.36
5-Year Estimated
Stock (Exchange: Ticker) EPS Growth Rate
Harley-Davidson (NYSE: HDI) 18.5%
Oracle (Nasdaq: ORCL) 18.2
CISCO (Nasdaq: CSCO) 20.3
* AS OF AUGUST 5, 2002 SOURCES: YAHOO! FINANCE.COM; ZACKS.COM
BAUNITA GREER/ NAIC NEW YORK CHAPTER
Price at
Stock (Exchange:Ticker) Recommendation *
Pfizer (NYSE: PFE) $29.75
Amgen (Nasdaq: AMGN) 42.22
Target (NYSE:TGT) 31.50
5-Year Estimated
Stock (Exchange:Ticker) EPS Growth Rate
Pfizer (NYSE: PFE) 16.3%
Amgen (Nasdaq: AMGN) 20.1
Target (NYSE:TGT) 14.8
* AS OF AUGUST 5, 2002 SOURCES: YAHOO! FINANCE.COM; ZACKS.COM
RELATED ARTICLE: October 2001 B.E. Stock Update. With war, terrorism, and corporate scandals A corporate scandal is a scandal involving allegations of unethical behavior by people acting within or on behalf of a corporation. A corporate scandal sometimes involves accounting fraud of some sort. , it's no surprise that the stock picks of last 0ctober's roundtable participants were pummeled. Harboring a penchant for name-brand equities and market leaders, our stock pickers--James Francis, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Paradigm Asset Management Co. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . (No. 10 on the BE ASSET MANAGERS list with $1.5 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. ); Rahimah Lateef, head of the Convertible Group/Securities Investment Department for New York Life Investment Management L.L.C.; Michael Ray, head equity trader for Baltimore -based Legg Mason Founded in 1899, Legg Mason, Inc. (NYSE: LM) is a leading Global Asset Management Firm that serves the institutional, mutual fund and wealth management markets. The firm is headquartered in Baltimore, Maryland, and is located on Lombard and Charles Streets in the Legg Mason Funds Management's mutual fund group; and Mark D. Lay, CEO of MDL MDL - (Originally "Muddle"). C. Reeve, Carl Hewitt and Gerald Sussman, Dynamic Modeling Group, MIT ca. 1971. Intended as a successor to Lisp, and a possible base for Planner-70. Basically LISP 1.5 with data types and arrays. Capital Management Inc. (No. 7 on the BE ASSET MANAGERS list with $3.2 billion in assets under management)--didn't identify one stock that produced a total return better than -13.45% Our panel, however, offered advice that investors should heed: develop a diversified portfolio of equities and bonds--and think long-term.
James Francis, Paradigm Asset Management
Company (Exchange: Ticker) Current Price *
Harley-Davidson (NYSE: HDI) $46.96
Home Depot (NYSE: HD) 28.29
TMP Worldwide (Nasdaq: TMPV) 9.32
Stock Pick Average
Current Value of $3,000 Investment
Price at
Company (Exchange: Ticker) Recommendation ([dagger])
Harley-Davidson (NYSE: HDI) $49.49
Home Depot (NYSE: HD) 48.46
TMP Worldwide (Nasdaq: TMPV) 49.58
Stock Pick Average
Current Value of $3,000 Investment
Company (Exchange: Ticker) Total Return
Harley-Davidson (NYSE: HDI) -5.11%
Home Depot (NYSE: HD) -41.62
TMP Worldwide (Nasdaq: TMPV) -81.20
Stock Pick Average -42.65%
Current Value of $3,000 Investment
Current Value
Company (Exchange: Ticker) of $1,000 Investment
Harley-Davidson (NYSE: HDI) $948.88
Home Depot (NYSE: HD) 583.78
TMP Worldwide (Nasdaq: TMPV) 187.98
Stock Pick Average
Current Value of $3,000 Investment $1,720.64
Rahimah Lateef, New York Life Investment Management
Company (Exchange: Ticker) Current Price
Barnes & Noble (NYSE: BKS) $20.05
Venator * (NYSE: Z) 9.65
School Specialty (Nasdaq: SCHS) 21.40
Stock Pick Average
Current Value of $3,000 Investment
Price at
Company (Exchange: Ticker) Recommendation
Barnes & Noble (NYSE: BKS) $46.66
Venator * (NYSE: Z) 17.83
School Specialty (Nasdaq: SCHS) 38.80
Stock Pick Average
Current Value of $3,000 Investment
Company (Exchange: Ticker) Total Return
Barnes & Noble (NYSE: BKS) -50.69%
Venator * (NYSE: Z) -45.88
School Specialty (Nasdaq: SCHS) -44.85
Stock Pick Average -47.14%
Current Value of $3,000 Investment
Current Value
Company (Exchange: Ticker) of $1,000 Investment
Barnes & Noble (NYSE: BKS) $493.11
Venator * (NYSE: Z) 541.22
School Specialty (Nasdaq: SCHS) 551.55
Stock Pick Average
Current Value of $3,000 Investment $1,585.88
* CURRENTLY KNOWN AS FOOT LOCKER INC.
Michael Ray, Legg Mason Funds Management
Company (Exchange: Ticker) Current Price
Citigroup (NYSE: C) $34.31
SBC Communications (NYSE: SBC) 26.96
Gateway (NYSE: GTW) 4.00
Stock Pick Average
Current Value of $3,000 Investment
Price at
Company (Exchange: Ticker) Recommendation
Citigroup (NYSE: C) $49.64
SBC Communications (NYSE: SBC) 44.52
Gateway (NYSE: GTW) 11.03
Stock Pick Average
Current Value of $3,000 Investment
Company (Exchange: Ticker) Total Return
Citigroup (NYSE: C) -30.88%
SBC Communications (NYSE: SBC) -39.44
Gateway (NYSE: GTW) -63.74
Stock Pick Average -44.69%
Current Value of $3,000 Investment
Current Value
Company (Exchange: Ticker) of $1,000 Investment
Citigroup (NYSE: C) $691.18
SBC Communications (NYSE: SBC) 606.57
Gateway (NYSE: GTW) 362.65
Stock Pick Average
Current Value of $3,000 Investment $1,659.40
Mark D. Lay, MDL Capital Management
Company (Exchange: Ticker) Current Price
Veritas Software (Nasdaq: VRTS) $17.83
Wal-Mart (NYSE: WMT) 49.20
Lucent (NYSE: LU) 1.49
Stock Pick Average
Current Value of $3,000 Investment
Price at
Company (Exchange: Ticker) Recommendation
Veritas Software (Nasdaq: VRTS) $38.66
Wal-Mart (NYSE: WMT) 53.60
Lucent (NYSE: LU) 6.51
Stock Pick Average
Current Value of $3,000 Investment
Company (Exchange: Ticker) Total Return
Veritas Software (Nasdaq: VRTS) -53.88%
Wal-Mart (NYSE: WMT) -8.21
Lucent (NYSE: LU) -77.11
Stock Pick Average -46.40%
Current Value of $3,000 Investment
Current Value
Company (Exchange: Ticker) of $1,000 Investment
Veritas Software (Nasdaq: VRTS) $461.20
Wal-Mart (NYSE: WMT) 917.91
Lucent (NYSE: LU) 228.88
Stock Pick Average
Current Value of $3,000 Investment $1,607.99
SOURCE: YAHOO! FINANCE TOTAL RETURN REFLECTS STOCK APPRECIATION AND
INCLUDES STONK SPLITS AND DIVIDENDS AS OF
([dagger]) AUG. 10,2001
* AS OF AUG. 9,2002
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