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Show 4F The Salt Lake T ribune, 19, Sunday, January I'M He Expects tlit; Dow to Top 1600 and Then Dive Economist Says 1st Quarter Will Be Great, But Then Watch Out tumnose dive shortly thereafter bling some 250 points, or around 15 the Dow goes up and down like a here's a good news, bad news scenario from a West Coast investment biggie that has major implications for the economy and the stock market. The good news: Peppier than expected '86 business meaning more people with more jobs with more bucks to spend. The bad news: Its unfavorable impact, namely higher interest rates and higher inflation. And for stock market players lower prices at '85 86 than at year-enyear-enSo the investment key: Make merry in the first quarter because its pretty much downhill for the balance As yo-y- d percent At present the Bank of California is over 95 percent invested in its equity accounts But Spare i. tends to fatten Dan Dorfman d the cash reserves to around 15 percent which would mean, he says, the sale of about $80 million to $100 million worth of stocks over the next couple of months. Spare's outlook calls for the '86 both here and abroad economy to grow much faster than expected. In the U.S., for example, he predicts r gains of over 5 percent in the gross national product and a rise of over 20 percent in corporate profits. His reasoning: The Federal Reserve will continue to adhere to a stimulative money supply policy. And easier credit will be the rule in most industrial nations, a number of which face major elections over the next couple of years. The worldwide shift is clear, says Spare: There will be more emphasis on reducing unemployment and less emphasis on fighting inflation. Spare says another plus for the U.S. economy would be further strength in of '86. And if you own any of these three IBM, Ma big investment names Bell or General Motors bad news. They could be bummers this year. Thats how our contrarian, Tony Spare, one of the sharper West Coast money men, sees the investment and economic scene in '86. Spare, 46, is the chief investment Bank officer of San Francisco-baseof California. The bank, with $2 billion of investment assets under management, about half of which are in quarter-to-quarte- d equities, has consistently outpaced the market each year over the past five years. Spare expects the bull market enthusiasm of '85 to spill over into '86, with the Dow rising to over 1600. Lots of people expect that. But in Spare's a super time to view, that will be it sell. And that's precisely his plan since he expects the Dow to go into a 3 562-020- Motorola, AMP and among the big Red-lic- h Binocular and Optical Repair Service in Arlington, Va. The comet has spawned a variety of promotions. Best Foods and Del Monte Corp. offered a discounted telescope with proof of purchase of some of their brands. Before Christd mas, Bambergers, a Newark, department store chain, featured appearances by Apollo 13 astronaut James Lovell and a cosN.J.-base- tumed character called Captain as well as astronomy lectures, at stores in Pennsylvania, Delaware and New Jersey. Tasco, a Miami-base- d telescope Comet, "Astronomy has been gaining for the last three to four years. But the comet is a thing," up to 5,000 LB. 4.000 LB. 3.000 LB. FG-2- 5 FG-2- 56 0 and Diebold. Photography: Eastman Kodak, Chemicals DuPont and Lubrizol. the distressed From an excess capacity of large computing power, he says. Ma Bell, whose stock Spare says he would sell now, is seen suffering from a continuing decline in market share in several key areas, notably the telephone business and telephone equipment manufacturing He also sees ongoing marketing problems for AT&T as it moves from a regulated utility to a more entrepreneurial company. As for General Motors, another stock he would scrap, Spare says the current economic cycle is in its late stages even though he sees a period of more economic zing. Moreover, he fears growing investor concern over rising imports. e group stocks that have been knocked down a lot, but which have a brighter earnSpare favors five ings outlook companies. They are Scientific Software, Teradyne, Augat, Trus Joist and Pay 'n Pak. Zeroing in on the trio of biggies he doesnt like, Spare says hed sell IBM on strength because he thinks its new line of big Sierra computers will fall short of expectations. Theres already News America Syndicate Standard Equipment 48 Lood Bock rest. Overtteod Guard. Hourmeter, Fuel Gouge. Heodlights, Turn Stgnolt, Mirrors, TaiiStop Ights Ports Locally Stocked. On Line Computer With Foclory Service Local Troined Technicians ident George Rosenfield said. Theres no doubt interest in Halley's comet has further increased our volume, he said. Sears, Roebuck and Co. featured I be stuck in the same rut. doing the same job? "I want to be in business for mysell, with the rewards that come from efficient management. 0 "I am willing to devote hours per week for the next few months to acquire the knowledge and get the training required to become licensed and appointed with the companies will be representing. Li Truck Professionals TCM I WARRANTY One Full Year On Engine & Drive Tram. Balance of Unit 80 Days Parts & Labor 3958 South Was! Temple, Salt Lake City, UT. 84107 the Tasco Halley's Comet Series telescope in its Christmas catalog. Swift Industries Inc. has had a tremendous increase in demand for its telescopes and binoculars, especially binoculars with 50mm lenses, which are better in dim light than general-purpos35mm lenses, sales manager Bruce Mercer said. "Weve been running ourselves ragged here," Mercer said. We re out of certain models we shouldnt be out of. Orders for binoculars are up about 50 percent while telescope orders have more than doubled, he said. (Filed by Newhouse News Service, Washington, D.C.) CAREER OPPORTUNITY 10-2- The 266-760- "I realize that I will keep my present job during the next nine months while the company and I look each other over. This will not jeopardize my present employ ment and at the end of this time, if we decide that we should go our separate ways, there will be no hard feelings. "It we both decide to enter into a permanent agreement. I understand that the company will provide me with an income guarantee for the first 2 years thereafter. Attend THE FARMERS CAREER SEMINAR to learn how this could be your first step toward a future with unlimited income and growth potential. TIME: 7:30 P.M., WED. JAN 22 PLACE: 3359 S. Main St., Salt Lake City ADVANCED MATERIAL HANDLING 8 star-gaze- Will amh T abernacle cludes a sheet outlining the comets path and an informational booklet about the comet, both printed by educational publisher Rand McNally, as well as a log for recording nightly observations. Halleys helped boost Tascos sales last year to a record $67 million, up 31 percent from the previous year, Pres- "I presently have a job, and maybe my income could be described as above average. But where will I be 5, or 10, or even 20 years from now? SPECIFICATIONS ITO lift Wide Style. 84 Lowered height ForVs 42 long Hook Type Engine Gosoline Powered. 4 Cylinder Overheod Value. High Torque Low RPM For long Lite & Better Fuel Economy Brakes Hydraulic, duoservo, Seif Adjusting Tires PneumotK. and binocular marketer, is promoting its products by offering buyers a Halleys Comet Finders Kit. The kit in- WHERE IS MY JOB LEADING ME? $9,996.00 $8,996.00 $7,996.00 Lease or Financing Available St. George 494 East - PF FG-1- 5 LOAN 628-365- 9 d said Jackie Steven, manager of April. Pricing: HERITAGE 298-365- Electronics: Hewlett-Packar- SPECIAL: NEW 1986 TCM FORKLIFTS U.L. Approved, Meets OSHA Standards WESTERN Sandy stocks: By John Reilly Newhouse News Service WASHINGTON As the image of Halleys comet is brightening on the horizon, so are the sales figures for telescope and binocular companies. Marketers of the optical equipment, most of which is made in Japan, Hong Kong, Korea and other Far Eastern countries, are reporting record demand as people strive to catch a glimpse of the comet, which is expected to reach peak visibility in V. When you purchase a Money Market Certificate of $5,000 or more, Western Heritage offers 10.75 interest. Effective annual yield 1 1 .04. 9383 South 700 East Here are his favorite groups and names and Andrew Corp., Plantron-ics- , Rogers Corp. and GenRad among the smaller companies. Office equipment: Chiefly smaller Computervision, Sidex companies Halleys Comet Sends Telescope Sales to the Stars Current Weekly Rate 107 North Main banks. WHY BUY A USED FORKLIFT WHEN YOU CAN BUY NEW? 10.75 THRIFT interest-rate-sen-sitiv- Spare is reacting by shortening the maturities of his bond holdings to about five to eight years; the longer the maturity, the more vulnerable the bond to higher rates. MONEY MARKET Bountiful What's the best way to play the '86 market9 Spare's strategy: Focus on the companies that are most sensitive to the economic upswing and on those which will benefit the most from exposure to foreign markets (given higher discretionary income by people overseas). These will be the two dominant investment themes for '86, Spare says. He sees a decided swing away from e the '85s winners and defensive issues, such as food, utilities, broadcasting, proparty and casualty insurers and regional foreign currencies (given the improving foreign economies) relative to the dollar. This would boost American companies' foreign profits (those translated into U.S. dollars) and increase our exports. Based on his robust economic outlook, Spare figures interest rates are bottoming out and should move higher. He expects long-terTreasury bond rates to rise from their current 9 3 percent to about 10.5 percent by the end of the year. Short-terTreasury bills, now around 7.2 percent, are seen advancing close to 10 percent by the end of '86. R.S.V.P., CALL 467-011- 9 An Equal Opportunity Employer, MaleFemale 1 FUTURE CPAS ITS NOW OR NEVER! 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