Show 4F Standard-Examine- Sunday April 8 1990 r BusinessPersonal Finance lOSSGS Mutual fund managers could go public Japan’s Krught-Rdoe- don’t hurt US The Japanese market has been a ery strong force in shaping re- cent worldwide stock market activities It was hailed as resilient — a market that wouldn't drop below the 30000 level As we have learned even the greatest of economies can fail or at least have a downturn So why not the unconquerable Japanese market? In the past few weeks anese market has fallen high of 38000 to 28000 hovers — a drop of 26 This decline has resulted the Japfrom its where it percent in a loss of nearly $900 billion of stock market value since the end of 1989 The Japanese bond market has also dropped over 8 percent resulting in paper losses of roughly $190 billion Combined these two market drops resulted in a loss to Japanese investors of $100 billion The large losses that have occurred in the Tokyo stock market exchange will have an effect similar to the US stock market crash in 1987 The losses were staggering and it does take time to recoup and get the Japanese stock market going again However a very small effect was felt on the US stock market The tremendous loss in the Japanese stock market affected the US stock market less than 10 percent The US stock market is heading to new highs proving once again our ability to move to the forefront as a world pconomic leader April 1 began a new fiscal year for Japan’s investment trusts pension funds and life insurance companies These fund managers are setting investment guidelines on how to manage their $13 trillion investments for the coming 12 months Because of the current turmoil in the Japanese markets many money managers and market analysts believe that these Japanese fund managers will look toward European stocks as well as US stocks This could be have a major impact on any economy or stock market However the Japanese will not abandon their own stock market The Japanese will want to keep some of their money at home so their stock market does not go down to zero However this still provides plenty of yen to be spread around and could give the US stock market the extra push it needs for a major stock market rally The Japanese have the largest trade surplus which means they have plenty of money to save and invest The Japanese do save and invest With the highest savings rates and until recently their soaring financial markets the Japanese have had money to make things happen believe it would be unfair not to compare US pension plans assets and Japanese pension 1 Your XT2 ) Money Kevin Kjw Centura fmjncJ Pr 'v market By BARBARA DEMICK and Finance ministers Washington in Tokyo and are in a dither about exchange rates but Peter Mastro is a happy man Mastro owns a Subaru dealership in Tampa Fla and as far as he can tell the precipitous slide of the Japanese yen — the prompting concern elsewhere — may mean good things t very-subjec- for his business Subaru to cite just one example of a Japanese import did not prosper during the years that the yen gained strength against the dollar Consequently the price of the most popular model of Subaru rose from about $12000 in 1985 — the year the yen started heading toward the stratosphere — to about $14000 now Mastro said “When your average Subaru customer came in he got sticker The last few years have shock been a disaster for us” said Mastro But the yen has made an abrupt turn its course reversed by concerns about a Japanese economy that may be overinffated and a Tokyo slock market that is definitely nervous After a slow steady slide last year the yen began tumbling in Last Tuesday the dollar soared to 159 yen the highest exchange rale in 40 months Altogether the yen has lost mid-Februa- ry alone helped attract millions of dollars to the Boston- investment company n But what of the managers the people who pull the triggers at some of the more obscure funds? The Securities Exchange -based lesser-know- a- -2 Commission says the public has a right to know more about them too Thus it has proposed a rule that would require funds to identify the men and women who make crucial investment decisions Their work history also would become public "That's a useful idea" said Herbert Popper an Ardmore Pa investor “It is the kind of thing I don't think you could lose on The more information you can give to an investor the better off he is going to be It certainly could not do any harm" However the proposal has not won many friends in the mutual fund industry which has helped only a handful of people are actually crucial to the success of most defeat three similar attempts since 972 Fund officials sav the proposal would cost them plenty in printing fees and would not be all that helpful to investors 1 funds “In January you may have four or five managers and by June it could have changed" Morrison said “Every time these teams change you would have to go back and change a legal docu- “This is not about disclosing the information" said Kathry n Morrison a spokesman at the Investment Company Institute a Washington trade group that represents more than 3000 funds “It is about printing the information in the prospectus If you call any number of funds generally they will give you that informa- ment” Although most portfolio managers are not of the Peter Lynch caliber many funds do aggressively advertise other big names to attract investors The SEC proposal would prevent them from n managers touting while downplaying tion" Morrison said the industry opposes listing all fund managers In fact she contends In addition well-know- ed staffers SEC proposes information to be listed on prospectuses If approved the new mutual fund rules proposed by the Secu- rities and Exchange Commission would require mutual fund prospectuses to include: A list of portfolio managers their business credentials a work history for each and the length of time each has been employed iri his or her current position five-ye- ar liAn annual discussion by management of how the fund great smE PW GREAT GREAT performed in relation to its stated objectives It would be similar in concept to that which has been required of corporations in their annual reports since 1980 SERVICE'-- soo off k“ A Wto comparison of the fund's performance with a standard in- A dex shortened and condensed financial table at the beginning of the prospectus in addition to a line showing total return lYton Kaysvilla A 546-212- 2 646-060- 3 Mon -- Sat 8:30 im-- 8 pm other countries Imagine the impact this investment diversification will have on smaller markets such as Britain with only 92 percent of the world market share or G many with 48 percent It wouldn t take a whole lot of money to send these smaller European markets soaring Where should Americans invest the money they are earn-- ing? The global markets although exciting and alluring to many have their drawbacks A portfolio in US stocks should prove to be as good as it always has been in the past The US stock market is poised for tremendous growth in the future Americans are learning a lot from across the ocean about the strength of saving and becoming more efficient The great changes throughout the world will make greater investment opportunities for everyone who is willing to take the risk and start investing The stock market has always of some kind The time to invest is when you are ready to accept the risks and the rewards that come from being in stock market Kevin Kunz is a Certified Financial Planner and Registered Representative with Plan America a Financial Planning firm inside Goldenwest Credit Union Send your personal finance questions to: Business editor Standard-Examine- r PO Box 951 Ogden 84402 Writers will be referred to by initials and all questions will be answered in print been in turmoil more than 20 percent of its value against the dollar in the last 16 Newspapers mega- -star name Yen’s plunge could yield drop in prices Knight-Ridde- Newspaper well-know- plans assets The United States has more than six times the amount of assets under management The Japanese have approximately $370 billion at year-en- d while the United States has more than $2 trillion in pension plans across America The United States still holds 345 percent of total world stock market value while Japan holds 316 percent The rest of the worldwide stock market values are divided among the rest of the world This means the United States still has plenty of bargaining power to keep the attention of the world markets Foreign investing will be important for both the Japanese and the United States How important and how much will be invested in other markets is still up in the air Last year the Japanese invested a record $179 billion in foreign stocks alone This need to diversify will spill into the Eastern Eu- ropean r The mutual fund industry snapped alert last week when Peter Lynch announced his retirement as manager of its $13 billion Magellan Fund the most successful stock fund in recent history Lynch 46 is indeed a legend His talents are so n in fact that some experts say his Sometimes it comes on over a few hours Other times it strikes like lightning But when an anxiety attack hits the fear is very real triggering a chain of products Already some dealers in consumer electronics say they are seeing modest price decreases on selected lines of videocassette recorders compact-dis- c players and camcorders Whatever happens with prices of Japanese imports there is a flip side for the US public As the dollar gains strength against the yen American-mad- e products become more expensive and less competitive abroad relative to those produced in Japan Another factor that would hamper price reductions is the simple fact that many Japanese products are no longer made in Japan by anxiety Cover your mouth physical reactions Anxiety is one of the most common mood disorders of the eighties nearly of the population suffers from some kind of anxietyt disorder Yet it’s also one of die most misunderstood illnesses For one thing it really is an illness that can have physiological causes and symptoms But most people don’t recognize the symptoms They often see their doctors about physical complaints such as chest pain sweating or shortness of breath only to discover they’re suffering from anxiety and nose with a paper bag and try to breathe normally This helps bring one-four- th carbon dioxide to its normal level Try to Use a clock to time it Take air taken diaphragm instead ofyour chest With this method Marked trembling Shortness of breath Rapid or invgular heartbeat Chest pain A shocking sensation Dizziness or vertigo Faintness A feeling of losing con trol I jiHonumiJ hyperventilating including sliort- - ' ofyour ribcage vertigo trembling faintness and shaking ' There are many ways tO control hyperventilation yTtus information is provided as a public semee by Intermountain Health Care and they can be useful nZ the a ffiv provider III when panic occurs lntemiountainUest Controlling hyperven- ting on a ffeewa) Anxiety may last a few seconds a few days or even a lifetime— some suffer most of their lives from forms oi anxietv But whether a person is dealing with periooic episodes or an ongoing problem anxiety' can be effectively treated with a variety of new therapies ana medications Anxiety often causes hyperventilation die feeling tliat you cannot breathe All of the physical symptoms associa ted widi panic can be brought on by your stomach should m0lc ln and out instead ness of breath rapid heart- beat chest pain a choking sensation dizziness For some people anxiety may be no more -- pit ofyour stomach with each breath Breathe with your It can manifest itself in situations like being in a crowd riding on an elevator or e en ga- An uneasy feeling in the smaller breaths to reduce the amount of extreme Most people don 't recognize the symptoms ofanxiety breathe just once even five seconds than an uncomfortable feeling in the pit of their stomach or a feeling of months So shouldn't the stronger dollar be resulting in cheaper prices for American consumers? The decline of the yen “doesn't help the trade balance but from the consumer’s standpoint doesn't ’nirt” said Delos Smith an ecomist with the Conference Board a New York business research group The yen’s weakness against the dollar could allow Americans to pay lower prices for automobiles and consumer electronics — the two largest categories of Japanese imports That would in turn put pressure on US manufacturers to lower prices on competing Techniques to control hyperventilation which can be caused tilation along with therapy and sometimes medication can be effective in treating anxiety disorders Because our thoughts and feelings result from complex electrochemical reactions in the brain anxiety is often caused by a chemical imbalance In this case it is usually treated with medication Anxiety can also be caused factors by psycho-sociand treated widt behavioral dierapy And somedmes die best treatment 3 is a combination of both The following hospital is staffed with professionals who can answer yoiur questions about anxiety: Institute for Behavioral Medicine Ogden McKay-De- e iA (801)476-560- 0 al nT Intermountain Healthcare Sen kc- - ire also available it UiniuIi Canvon I lupitil Salt Lale ( an (SOU pual Comwlnn: C Vnier (V! )2f' 207 5 IP"'! ltKpnil Sili Like Cit (SOU U Alta View llo'pital (SOI ) 20 Utah Cillev Regional MeJkal Center Provo (X'l) 175-7Lojian RckmijI Htipilul inM ) 750-- 262-- P |