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Show Jack S Jill went up the hill & played near poles and wires. A line was down 8 Jack soon found if touched ho would EXPIRE. The Summit County Bee August 14, 1998 m Instead of wringing their hands slump, investors ought to be looking at it as an opportunity to buy stocks at bargain prices. That's the view of Peter Anderson. Chief investment officer for American Express Financial Advisors. If you're a true long- flown in open term investor who's committed to putting money into slocks on a regular basis, especially via mutual funds, you should really view a downturn as a good thing, because it allows you to buy at lower prices, Anderson says. On the other hand, of course, if you have a areas away from lines horizon - a few relatively short-teryears or less - then you may want to take some money ofT the table. m What might happen next? Anderson views the markets slide as a normal correction, rather than the beginning of an extended hear market. When things get overdone on the upside, as was the case this year with the market, then you have Keep clear of trees or structures to expect the excess to get wrung out at some point. But, I seriously doubt that were headed for an extended bear market. However, a close to power lines Mid-S- i relatively quick decline totaling IS to 20 percent is certainly possible." Anderson cites several factors as providing a cushion for stacks. Inflation is still remarkably low, and should remain Long-terinterest rates may rise a bit, but not to a threateningly high level. The economy continues to chug along. And, on top of that, we have a balanced federal budget. The question now, of course, is corporate earnings, which have slacked off overall." d. m the key to the earn- Ultimately, ings puzzle may be China. If China devalues its currency, the rest of Asia, includ- Anderson says. ing Japan, would immediately have to follow suit. That would further deepen the recession in Asian, and lh3 need to devalue would spread to Russia and Latin America. As a result, imports to the U.S. would increase, chile our exports would really drop off, causing profits of U.S. corporations to slow down even more. In addition, the viability of many foreign financial institu- tions would be called into manager. et The stocks of strong medium-size- d companies offer the investor a really desirable balance between the good characteristics of both smaller and larger of the companies, said James P. Haynie, Colonial Select Value Fund, a fund that invests in medium-size- d companies using a value style of investing. He explained that medium-sizecomor mid-ca- p panies, are small enough to be able to grow revenues significantly, unlike some larger companies. At the same time, he explained, strong mid-ca- p companies tend to be more established than smaller firms, and not exposed to as much business risk. That middle ground bigger than a small company, but smaller than a giant, is what Haynie describes as the sweet spot. In addition, this segment often contains stocks that are underappreciated by investors allocating assets among segments of the market, Haynie explained. Many people invest some money in funds and some in small-ca- p large-ca- p funds, and miss out altogether on the opportunity that mid-ca- p Treat all lines on the ground or overhead as d, energized Stay away from substations or anything marked Danger: High Voltage V Mattress (Priced in Sets) 4 Spring Air . Mattress Select Queen nasiin, King Weldon J. Taylor Executive Lecture Series on Tuesday, September IS. 1998. His topic will be People, Productivity and Prices: Have the Rules Changed? prospectus, which they should read carefully before they invest. They also can obtain information directFinancial ly from Liberty Investments, Inc. at , Community First Bank Acquires 349V $4497 , Guardian Bancorp .Queen . Community First Bankshares. Inc. announced last week that it has com- 399 ) ?29 With the help of some of last years winners in Utah Powers Electric Safety Contest, we want to make you aware is. of some of the potentially hazardous situations you and your starting at 249 pleted its acquisition of Guardian Bancorp, Inc., the holding company for Guardian State Bank, of Salt Lake, in a stock transaction. Guardian State Bank will retain its name, pending conversion to a national chatter and the Community First name, anticipated to occur in the third quarter. It has assets ol 30" x 48" Table w4 Chairs approximately Leather Sofa.. Leather Love Seat.-wn- $107 million, deposits of $98 million and four banking locutions: three offices in Salt Lake City and one in Sandy. ho color-your-o- t glow-in-the-d- This acquisition expands out h presence in Utah and in the Salt Lake City metropolitan area, said Donald R. Megedoth. president and CEO of Community First Bankshares. Inc. We look forward to bringing our brand of community banking to our new customers in Sandy and Salt Lake City." Continued on page 2C high-growt- magnet for kids, call 480 North Main Metal Futon 99" OWER er at the Westminister College and expenses, should call their financial advisor and ask for a PillowTop Posturepedic of year when were outside more. A PncifiCorp Company downtown Salt Lake City offices. Anderson will be featured speak- well-manag- each piece' 89 each piece , Plush Top UTAP Financial Advisors employs more than 70 advisors in its Midvale, Provo, Layton, Sugar House and Another mid-ca- p company whose stock represents retailer good value is Ross Stores, a California-base- d of clothing and hard goods. This is a company, Haynie said. We've continued to be impressed by their ability to contain the costs of what they sell, which is the key to their business. The Colonial Select Value Fund is managed by Colonial Management Associates, Inc., a Boston-base- d mutual fund adviser with approximately $17 billion in assets under management. It is distributed by Liberty Financial Investments, Inc., Boston, Mass. stocks with market capiThe Fund invests in mid-ca- p talization of between $1 billion and $9 billion. Haynie said he and Michael Rega try to invest in all ) sectors of the market, trying to find the best values and opportunities in each sector. Investors interested in more complete information about the Fund, including charges ' 69. Full Set 7 For a free fun poster & andor billion in manages more than $1 assets. In Utah, American Express industry. Firm kids can get into while working or playing outdoors. Advisors currently owns drilling equipment to the oil and gas exploration companies were hurt industry. AH energy-relate- d early in 1998 by the decline in oil prices, he said, but we think the outlook for the drilling industry is pretty strong, and this company could benefit from consolidation that we believe could take place in this 7 o financial planning companies. American Express Financial well-manag- ed Mattresses starting at 59 especially this time and persistence will he rewarded. As one of the nation's leading stock funds, represent. stocks, and thus mid-ca- p Some examples? Haynie points to Fred Meyer, a food and drug retailer that has proven to be good at consolidating business and cutting costs. We think they're a very company with the critical mass they need, he said. Another is BJ Services, a company that provides Blow-Out- ? utdoor electric safety is important to all of us Where docs this leave the stock market? By the end of the Year, I'd say we'll probably he down somewhat from where we are today," Anderson offers. But if I were asked where the market would he five years from now. I'd be a substantial amount that it will be up. And, if the horizon were increased to 10 years. I'd be even more that it'll be higher, substantially higher than it is today. As always, patience ze Companies Can Be Solid Investment Investors often miss an opportunity by failing to take advantage of the sweet spot in companies' growth cycles, according to a veteran mutual fund Savanna, Cl Recent Market Slide May Be Good For Long-TerInvestors about the stock market's recent Kites and balloons should be PAGE 654-18- 17 Heber City |