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Show 6 Sun Advocate, Price, Utah Thursday, August 19, 1993 Where the buck stops Cctvbotl Kids How do you feel about going Try indexing back to school and By GARY WARD Finance columnist For about the last three or four columns, Ive been talking about market pundits, prognosticators, wizards and how you cannot decigurus pher what most of them say and when you do, most of their advice is bad or at least misdirected toward the get rich quick perspective. Some of my criticism may have been considered harsh. Indeed, some people might contend that I have been trashing advisors in general. If many of these market advisors cannot be trusted with giving out valuable information, how is a small investor to succeed in the financial market? In other words, what alternatives might I offer that will be better than their advice? A fair question. Criticism is always easy for those who do not have a better plan. You might ask how you go about picking mutual funds, stocks and bonds that will do well in the marketplace? Last time, I recommended investing in mutual funds that focused on the pharmaceutical, biotechnology, environ- mental control, energy, telecommunications and financial services industries. But suppose you dont believe you have enough expertise to consider even these groups? You believe (as I do) that the stock market will rise in the long term, but are uncertain which industries or mutual funds will benefit in the future. Is there an alternate investing strategy that will at least guarantee an average stock market return without worrying about which stocks or funds to pick? Indexing is the answer. Investing in a mutual fund that tracks the broad stock or bond markets, often referred to as an index fund, will give the average investor average returns without the anxiety of stock picking. What is indexing? Indexing is an investment approach that tries to parallel the returns of a specified stock or bond market index. The investment manager of an index mutual fund attempts to mimic the results of the target index by holding the why? broad array of securities that the target index tracks. The fund manager does not actively manage the fund. That is, there is no effort by the manager to make bets on individual stocks or bonds (or groups of industries) in an attempt to outpace the indexes. Indexing is a passive fund management approach emphasizing broad diversifiinvestcation and long-terment strategies. The case of why indexing works has both a theoretical and a practical foundation. The concept was first introduced in the 70s by academics who argued that securities markets are both random and efficient. (By the way, they won the Nobel Prize in economics for this.) Because they are random and efficient, attempts to consistently outperform the m Becky Hurst age 17 Wellington I feel really excited because its my senior year of high school and I want to make it count. Were going to get a chance to meet a lot of new people coming in from the junior high. Student government is planning a lot of activities for this year and its going to be lots of fun. broad market averages through individual stock or bond selection is extremely difficult, if not impossible. In fact, it is impossible for all stock investors (as a group) to outperform the overall stock market. Why? Next time. ml Vh W. M Aimee Faucheux age Price Im excited to go back and spend days with my friends instead of my family...my family is cool, but three months is f coapMltorM oi and especially more girls! i you donUm Id Nt ter aW JuM lock tor outotondlng wIum 1 our hum) prioo EVERYDAYI nwm tom. I" art the west' largest Browning dealer. We also carry a hugs selection of top name We also offer hunter's safety Instruction classes, Utah hunting licenses and war- brands Remington Winchester Smith Wesson And Many More! ranty repair for Remington Browning Mossberg Winchester dock & BUILDYOUROWN sisjSlSCOgEjPACKAGE &3FLEJJURCHASlIPACI(AGElNdTjDECREDFIET Q IDLINE AND BUSHNEL BASES AND RINGSlREDFIELD TEEC MOUNT SET SLIGHTLY HIGHER Jfemington. BUSHNELL 4X SPORTVIEW SCOPE 700 ADL BOLT RIFLE W3X9 BUSHNELL SCOPE DOES NOT INCLUDE MAGNUM CAL ALSO NCLUDES MOUNTING AND BORESIGHTING OUR LOW PRICE EVERYDAY ONLY 19.72 PER MONTH FOR 24 MONTHS W.A.C. 394.99 OUR LOW PRICE EVERYDAY ONLY 13.98 PER MONTH FOR 24 MONTHS W.A.C. 3X9 TRACKER SCOPE WITH RIFLE PURCHASE 279.99 Gov. 7 MAG. DOES NOT MCLUOE 700 BDL REMINGTON BRE 331 LH MODELS OUR LOW PRICE EVERYDAY REMINGTON STAINLESS - LUTED QUANTITIES, CAL AVAILABLE AT mm S4Q Art 10.00 IN NOT MCLUOE MODELS OUR LOW PRICE EVERYDAY BFLE NCLUDES 260, 27033041, All LOCATIONS sale 4 AA Art wy.yy "JET" 0RKL & AC. PRO BOW COMBO INCLUDES 16 44 A AA HI 0.00 QUIVER SALE 99.99 ORKL Men SIERRA ROBIN YOUTH HOOD BOW SET ARCHERY OFT OURLOWPfKE SET LET OUR LOW PRICE EVERYDAY 459.99 EVERYDAY sale24.99 orkl an 69.99 REMINGTON -- Remington FIRE STD CAL IN MODELS BOLT ACTION DOES NOT MCLUOE OUR LOW PRICE EVERYDAY MAG REMINGTON 700 BDL STAINLESS FIRE NCLUDES NOT SYNTHETIC UMTTED QUANTITIES. rtrtrt Art FORM 000.00 ALL CALIBERS MALL STORES 4AA AA sxtfoy.yy OWTHt AC ORKL SSBM DOSKOCILHARD BOW CASE INTERIOR AIRLINE APPROVED it 0523 SALE PADDED VIPER 22 CAL. RIFLE EVERYDAY 9NGLE PUMP SHOT ACTION ORKL f27.99 M0 MBS 124.99 DAISY RED RYDER M WESTERN CARBNESTYUNQ, FREEBB. REMINGTON FEATURED ON YOUR WHITE & GREEN PHONE BOOK COVER , FOR BB SINGLE SHOT 870 EXPRESS MOSSBERG 500 12 GA. PUMP SHOTGUN 200 East Main UMSRAL TIMS wlwv twtnl i. RIFIE PNEUMATIC Service. Quality & Fair Value t SUM ORKL DAISY BBPELLET PELLET OUR LOW PRICE 637-248- 0 34.99 AIRGUNS SHOJlGUNS MAGAZINE Since 1947 FIBERGLASS UMBS $ale159.99 Rgmington. "Tires Are Our Business, Service Is Our Neme" LET OFF, MAGNESIUM RISER, ORKL17IBO MEDALLION BROWNING 3041 BRE r NOT ALL SIERRA AND SIGHT 700 BDL MAO. BOLT FI RE DOES A COMBO 700 SYNTHETIC 132.99 ONLY BROWNING SUMMIT ACTION c OR 7 MAG. 270 DOES NOT INCLUDE LH MODELS BOLT oc QQ 00.00 0Q ITHRIFLRmYi0.OO Savage 110 GN BOLT ACTION RIFLE REMINGTON ONLY BUSHNELL 3X9 SPORTVIEW SCOPE REDFIELD AVALABLE IN 304)6 RIFLE PURCHASE WITH REDFIELD MIDUNE BASE 8 RINGS INCLUDES 3X9 SPORTVEW to address TO. i OPEN DAILY TIL 8 PM, SAT. TIL 8 PM, SUN. NOON TIL 5 PM, MALL STORES OPEN MALL HOURS Governor Mike Leavitt will address the first meeting of the Utah School and Institutional Trust Lands Advisory Board on Thursday, Aug. 19, at 10 a.m. in room 403 of the State Capitol. Ted Stewart, executive director of the Department of Natural Resources, will conduct the meeting. The advisory board was created by the Legislature to initiate studies, hold public hearings and propose legislation concerning the best structure, management scheme and operational policies for managing school trust lands. iw i wmsELEcrm -- lands board Price Uum... starting back to school.. .Im excited a little bit tu get back to sports and to see the people every day. Im just growing up, I guess. Im going to meet new people Ws pto. mi prated OUR LOW PRICE EVERYDA Y SPORTING GOODS COMPANY Price Im kind of excited because Ann Kay Marsing ptto. a1M ta coupMta'i t Daniel Wissmar age 16 too much! MM Mr Oinwt right to wrtff man Dustin Rich age 15 17 RUKKO POINTED PELLET PUMP SHOTGUN OUR LOW PRICE, OUR LOW PRICE 199.99 rtttmrrmTTTrimSlmil1' EVERYDAY EVERYDAY BB MAGAZWE, OUR LOW MCE EVERYDAY LEVER SUE HIRE r7 J r OURLOWMCE lj EVERYDAY 5 THE PHONE: MBS CYLENDERS-SPAC- UAMM tPMTMl 3TISTT CHAM 730 WEST PRICE RIVER DRIVE ORKL 39.99 DAISY CO, 177 CAL 179.99 B8 W 30031 Kill 637-20- 77 10 LOCATIONS COLON AK0. KTONWI AIM I VI I SitVM STAS. IIAH0 aa I n |