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Show Page 4 The Gunnison Valley Gazette Thursday, January 29, 2009 Here’s “Checklist” for The Outdoor Report surviving financial crisis Cougar Country - Ten tips to stay safe Submitted by DARIN FRANDSEN Over the past few months, the news has been almost incomprehensible. It’s hard for many of us to make sense of the failure of major Wall Street firms and large banks and the $700 billion bailout of the financial sector. And it’s hard for investors to be calm when stocks have fallen more than 40 percent between October 2007 and Inauguration Day in 2009. What can you do to cope? Consider the following “checklist” for surviving a financial crisis: _____Close your ears — but open your eyes. These days, you may hear some socalled “experts” talking about end-of-capitalism scenarios. Try not to listen to these doomsayers. We still have the most powerful economy in the history of the world and we will recover from these setbacks. However, even if you close your ears, you should keep your eyes wide open. Specifically, look for opportunities. Stock prices are down now, but they won’t always be — and, all else being equal, investors who buy into the stock market at lower prices are likely to earn higher returns than those who buy stocks when prices are higher. _____ Focus on things you can control. During a financial crisis, your success at weathering the storm depends on your ability to stay calm and concentrate on the things you can control. For example, you can control your emotions so that you aren’t panicked By the time you read this, the legislature will have been in session for perhaps two, maybe three, days. We will have completed the formalities and will be dealing with the major task of considering the adoption of a “base budget”. During recent years there has developed a practice of adopting a base budget early in the session. It is based on the preceding year’s revenue. Once that is adopted, the focus shifts to allocation of additional revenue from what has been a growing economy. The assumption has been that using last year’s numbers is a conservation approach that will assure we have something in place if we are in a “standoff” as the session winds down. This year the process is turned upside down because the current fiscal year’s revenue is some 7½% below what was projected and budgeted. Moreover, the pro- into making unwise, shortterm decisions, such as putting all your money under your mattress. And, to a certain extent, you can even control your portfolio’s ability to withstand volatility. How? By diversifying your holdings as broadly as possible. The wider your range of investments, the less you’ll be hurt by downturns that primarily affect one asset class. (Keep in mind, though, that diversification, by itself, cannot guarantee profits or protect against loss.) _____ Review and rebalance your portfolio. During this market decline, some of your holdings have probably fallen more than others. As a result, you may now own a lower percentage of a specific asset class than you had originally intended when you built your portfolio. Consequently, you may want to meet with your financial advisor to determine if you should rebalance your portfolio by adding more money to those asset classes that have fallen the most. You may also want to rebalance if your risk tolerance or longterm goals have changed. _____Look for quality investments. In this economic environment, it’s more important than ever to focus on quality investments. When you buy stocks, look for those companies with strong balance sheets. If you’re purchasing bonds, stick with those that receive high credit ratings. If we are entering a prolonged economic downturn, these types of investments will, in all likelihood, fare better than lowerquality stocks and bonds. ––––– Be patient. No one can predict when a bear market will end, but history has shown that turnarounds can happen quickly and unexpectedly. So be patient. The most successful investors have the courage to stay the course and take advantage of opportunities while others are “bailing out” of the financial markets. We may still have some rough roads ahead of us. But if you can check off every item on this list, you can smooth out some of the bumps you’ll encounter on your journey toward achieving your longterm goals. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. HAVE IRA QUESTIONS? LET'S TALK. Dave Swenson has patrolled Utah’s backcountry for almost 30 years. During that time, the veteran wildlife officer has seen a cougar only five times. And each time, the cougar was running away from him. “It’s very, very rare to see or come in contact with a cougar,” the Division of Wildlife Resources officer says. “Cougars usually go out of their way to avoid people.” Swenson says cougars are also secretive animals. And they usually come out only at night. While it’s very rare to see a cougar, if you do see one, it will probably be in the winter. “Deer are the main animal that cougars prey on this time of the year,” Swenson says. “In the winter, the snow covers the vegetation in the higher country. That forces the deer to travel to lower elevations to find food. And the cougars come right down with them.” If you live in cougar country, Swenson provides the following tips to lessen the chance that you come in contact with a cougar: - Do not feed wildlife. Feeding wildlife attracts deer and other animals to your yard that cougars prey on. - Do not feed pets outside. The food could attract cougars to your yard. And keep your pets indoors at night. Pets are easy prey for cougars. - Outdoor lighting and motion-sensitive lighting are a deterrent for the secretive cougar. Lights also make cougars that are approaching your home visible. - Keep a close eye on your children when they’re playing outside. And bring them in before dusk. That’s when cougars begin to hunt. - Make your yard deerproof. If your landscaping is attractive to deer, cougars will follow the deer and stay close to your property. Here are three things you can do if you encounter a cougar: - Do not run from a cougar. Running can provoke a prey response in the cougar, and the cougar may pursue you. - Make yourself look intimidating. Make yourself look big by opening your jacket, and raising your arms and waving them. Speak loudly and firmly. - If you have children, pick them up. Try to pick children up before the children panic and run. When you’re picking your The Outdoor Report is Sponsored by: children up, keep an eye on the cougar but avoid making direct eye contact with the animal. Try not to bend over too far or turn your back to the cougar. Here are two things you can do to avoid encountering a cougar in the first place: - Hike with other people and make noise. Cougars will not usually bother groups of people. - If you’re hiking with pets, keep them on a leash and close to your group. Roaming pets are open to cougar attacks, or they could irritate a cougar that’s trying to avoid your group. A dog on a leash is also a good warning system that will let you know if a cougar is nearby. More tips about how to stay safe in cougar country are available in the DWR’s “Living in Cougar Country” brochure. The free brochure is available at www.wildlife.utah.gov/cougar/pdf/cougar_brochure.pdf . “As Utah’s population grows, we’re moving more and more into areas where wildlife live,” Swenson says. “It’s important that we learn about the wildlife that live in our area and how we can minimize causing them problems. If we do that, both us and the wildlife will benefit.” 528-5001 Hwy 89 Northeast of Gunnison Open Monday - Saturday Darin K Frandsen Financial Advisor . www.edwardjones.com St George, UT 84770 435-652-3558 The First Word and Last Name in Log Homes! Think Satterwhite for Log Homes, Rough Lumber, Timbers, Animal Bedding and Firewood jections for fiscal year 2010 which begins on the first of July will be down another approximately 12%. Instead of allocating additional revenue, we must now consider and debate how to allocate budget cuts. That is a whole lot more difficult and the end product perhaps less helpful as we move through the varying circumstances of the many state agencies or departments, including education which remains our “biggest ticket” item. In our efforts to be frugal we must be careful that we do not sustain ourselves by eating the “seed corn.” Both the legislature and the governor are wrestling with these issues and will continue to do so for some weeks. If we do adopt a base budget early in the session it will not be cast in concrete and will remain fluid until close to the end of the fortyfive day session. I will keep you posted. Power to all your appliances in .000795 of a second. Or it’s free. Anderson Tax Service © 2009 Rocky Mountain Power JOHNNY ANDERSON 528-7162 or 528-3539 Member MemberSIPC CIPF “ DELIVERING SAFE, RELIABLE POWER IS OUR TOP PRIORITY.” You probably don’t think much about it. 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