HDTenEightyP/NetNews huggingface dataset:
From: ciar04@vaxa.strath.ac.uk (W.H.Watt)
Newsgroups: misc.invest
Subject: Re: how to become a charter financial analyst ?
Date: 5 Jan 93 21:03:34 GMT
Organization: Strathclyde University VAX Cluster

In article <1993Jan5.074534.62456@cc.usu.edu>, fajack@cc.usu.edu writes:
> 	Can anyone email me regarding information on becoming an
> charter financial analyst ?  Thanks a lot.

While on the question, can the CFA be taken in the UK?  I know it can be
taken in some countries (e.g. Singapore) but I do not know of arrangements
in the UK.

#----------------------------------#-------------------------------------------#
|  W.H.Watt                        #  JANET:                                   |
|  Dept. of Accounting & Finance   #           w.h.watt@uk.ac.strath.vaxa      |
|  University of Strathclyde       #  Rest of the World:                       |
|  Glasgow                         #           w.h.watt@vaxa.strath.ac.uk      |
|  United Kingdom                  #                                           |
#----------------------------------#-------------------------------------------#
Newsgroups: misc.invest
From: pvonk@scott.skidmore.edu (Pierre VonKaenel)
Subject: Re: Dow Jones
Organization: Skidmore College, Saratoga Springs NY, 12866
Date: Sat, 9 Jan 1993 16:58:01 GMT


I looked into DJ new service some time ago and found their rates high.
Others on the Net agreed with me.  If all you want is stock quotes
(current or historical) and possibly other news items, you might do
better with other on-line services such as Prodigy, Compuserve, etc.

-- 
Pierre von Kaenel  |  Math & CS Dept | Skidmore College | pvonk@skidmore.edu
----------------------------------------------------------------------------
1983 game ads from PC Connection : Temple of Apshai, Curse of Ra, Zork,
Deadline, Frogger, Call to Arms, Tigers in the Snow, Apple Panic; $15-$35
From: floydb@rpi.edu
Newsgroups: misc.invest
Subject: S-Corporations, et al and Income Producing Property
Date: 4 Jan 93 22:04:51 GMT


What are the advantages/disadvantages of transferring title of
income producing properties from and individual to a corporation,
given that the individual controls the corporation?

As an extension of the s-corporation thread, what type of 
corporation has the most tax benefits with respect to 
income producing property managed by the individual? For example,
rental property, commercial realestate, etc.?

Any good books to read, any recommendations?

barry
Newsgroups: misc.invest
From: brody@eos.arc.nasa.gov (Adam R. Brody )
Subject: Reason to buy Mutual Funds
Summary: Another reason to invest in funds rather than stocks
Keywords: mutual funds
Organization: NASA Ames Research Center
Date: Wed, 6 Jan 1993 01:30:39 GMT

I've been investing in funds mostly for a long time with the intention
of buying more individual stocks once I had more money with which to
play.  In addition to the instant diversification advantages of mutual
funds are several others I haven't seen mentioned.

One is simply financial.  The lowest cost I have seen for a stock
transaction is about $40.  Since one also has to sell to make money,
the minumum cost of dealing with individual stocks is about $100.
Since expense ratios for no load funds run about 1%, a $2500 investment
in a mutual fund can last about 4 years before adding up to $100.
During this time, the fund has been buying and selling and paying
commissions much less than what an individual would pay.  Along
these lines, dollar cost averaging becomes very expensive with
individual stocks.

Another advantage of funds is logistics.  I am invested in about a
dozen funds and keeping track of all the paperwork, NAVs, annual
reports. . . can add up to no small amount of time.  If I actually
owned shares in the hundreds of companies the funds own, the work
would really add up.  Of course one does not need to put in this much
effort but I like to see how I'm doing.

Being able to push buttons on my phone to make additional investments
or have money sent to my bank or writing checks against my funds
are other benefits stocks can't provide.
Newsgroups: misc.invest
From: clark@soldev.tti.com (Ralph Clark)
Subject: Re: Managing Your Money (was Re: Quicken & Investments)
Organization: Transaction Technology Inc.
Date: Thu, 7 Jan 1993 03:43:23 GMT

In article <C0Et0w.CwH@tss.com> shital@tss.com (Shital Anagol) writes:
>I heard that using Quicken we can import stock price information from a file that is generated from downloading the stock prices from Prodigy.
>Is this possible with Managing Your Money (MYM)?   I know we can get stock quotes in MYM through Compuserv or Dow Jones etc..  But we already
>have Prodigy and don't want to spend extra on other services.
>

MECA offers an extra utility for MYM called MYMIC (Managing Your Money
Import Capability) free for $5.00 shipping/handling that will import
from the FINANCE.DAT produced by PCFN on Prodigy. 

I have and use this capability, although I don't use Prodigy, but rather
manipulate my TeleChart 2000 data into the FINANCE.DAT format.

--- Ralph

Ralph Clark (clark@soldev.tti.com) or try (clark%tti.com@NDSUVM1.Bitnet)
Newsgroups: misc.invest
From: rcd@cbnewsj.cb.att.com (rana.c.dutt)
Subject: Re: Money Stinks for Stock Advice, was Investment magazines
Organization: AT&T
Distribution: usa
Date: Fri, 8 Jan 1993 15:30:35 GMT

Money magazine, in its Forecast '93 issue, claims that among
its Wall Street Stock of the Month picks, winners outnumbered 
losers 3 to 1. They say that their best pick was Sprint in April,
which went up 22% since then. They also humbly admitted their
losing picks, and added that they had been  too suspicious of
junk bonds. They had accurately recommended small company growth mutual 
funds, and warned people to stay away from global income funds.

All in all, I'd say this is a pretty good record. 

Rana Dutt
rcd@mtqua.att.com
From: fierro@uts.amdahl.com (Doug Fierro)
Newsgroups: misc.invest
Subject: Re: Misc.Invest sentiment
Date: 12 Jan 93 02:03:28 GMT
Organization: Amdahl Corporation, Sunnyvale CA

In article <1993Jan10.005418.22005@leland.Stanford.EDU> bohnert@leland.Stanford.EDU (matthew bohnert) writes:
>Having read misc.invest for several years, I would like to add my
>two cents worth on a sentiment indicator. 
>
>IMHO, the number of new posts that involve ...`I'm new to investing,
>how do I get started in the stock market', or `...I'd think I'd like
>to trade stocks for the first time, how do I open an account...', etc., etc., 
>is hitting an all-time high in recent weeks.  I'm not trying to insult or 
>offend anyone, but many contrarians see the flood of newcomers to the market 
>as an indicator of peaks.  Perhaps just one more log on the fire, I guess.
>
>Of course, I could be wrong.
>

  Could be attributed to a lot of things:

  1) more people have net access now than a year or two ago.

  2) interest rates on investments in which the principal is not
     at risk basically suck, and as more CDs come due, more people
     might want to find alternative investment possibilities that
     pay more than 3-4% a year (and willing to take the associated
     risk along with that decision).

  3) More people in the technological industries are coming into
     money that they did not have to play with in the past- a
     possible indicator that the recession is/was not as harsh
     on the people in those industries?  (since the net is not
     a real representative of the U.S. population, it's hard to
     say on this one).

  4) People don't know what the hell a FAQ list is :-)

   etc..
   etc..

  Doug
-- 
                                                     Doug Fierro
                                      |\             UTS System Software
  O                         __________|_\______      CASE tools development
  \_.______________________| * * * * * * * * */      fierro@uts.amdahl.com
 __\____                   |=================/       (408)746-7102
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
From: yuehan@stein.u.washington.edu (Jonathan Mesler)
Newsgroups: misc.invest
Subject: Is work-study taxable income?
Date: 10 Jan 1993 20:41:53 GMT
Organization: University of Washington
NNTP-Posting-Host: stein.u.washington.edu
Summary: help
Keywords: Do I need to report work-study compensation?

I am a work-study student at the University of Washington.  I need to know
whether my compensation needs to be reported to the Federal Government. (My
compensation has been just enough to cover personal expenses and books, 
approximately $2400 over the next nine months.) I have only received about 
$800 of my work-study award as of January 1, 1993. I have recieved no other
form of compensation for the taxable year.  I am also a dependent living at
home if that helps. The reason I am asking this is because I am applying for 
financial aid for the 1993-94 academic year.  I need to know whether I must
include this information in my FAF.  Any other additional helpful hints related
to the financial aid system would be much appreciated.

Thanks in advance.

Direct replies to     yuehan@stein.u.washington.edu


Newsgroups: misc.invest
Subject: Re: Article: 28340 of misc.invest
From: gary@cdthq.UUCP (Gary Heston)
Date: Fri, 08 Jan 93 21:17:38 CST
Organization: Garys' Home for Obsolete Computers

lib@cbnews.cb.att.com (Lib) writes:

> In article <1993Jan6.192534.10914@cs.ucla.edu> gast@oahu.cs.ucla.edu (David G
>  
> >Secondly, and more importantly, I would suggest that you read over the
> >account agreement very carefully.  Schwab reserves the right to do a lot
> >of things with your investments you may not like.
> 
> Like what? And do theses things differ from other brokers? If you're
> talking about things like selling your stocks to cover over-margined
> positions everybody reserves the right to do stuff like that.

Only Schwab, among all the brokers I looked at, reserved the right to
sell anything you had, in any account, to settle any alleged debt, at
any time, including accounts opened years afterward, without warning
and without recourse.

*That* clause is why I didn't do business with Schwab.

Gary Heston, at home...
gary@cdthq.uucp
Newsgroups: misc.invest
From: tony2@prefect.cc.bellcore.com (gozdz,antoni s)
Subject: Re: "seasonal adjusted"
Organization: Bellcore, Livingston, NJ
Distribution: usa
Date: Thu, 7 Jan 93 21:55:09 GMT

In article <C0I5L6.88q@cantua.canterbury.ac.nz> cctr114@cantua.canterbury.ac.nz (Bill Rea) writes:
>Albert Cheng (acheng@ncsa.uiuc.edu) wrote:
>
>> What does the term "seasonal adjusted" mean?  E.g. Seasonal adjusted
>> unemployment is down 40,000 for the Christmas week.  Or seasonal
>> adjusted new houses started.  Does the government say, "well, it is
>> holiday season, everyone is on vacation for two out of the five days.
>> Let us doctor the numbers and report only 60% of the unemployed
>> figures." Can someone explain?
>
>These figures are a time series, and a lot of this type of data has
>a regularly occuring variation in it. For example grass growth in
>temperate regions varies over the course of the year usually something
>along the lines of high growth rates in spring, slower in summer
>rebounding a little in fall and almost stopped in winter. There are
>mathematical techniques used to adjust for this type of seasonal 
>variation and look for variation which is not related to the season.
>Another example, New Zealand has a lot of  horticultural crops which
>are harvested in autumn. During the harvest period, the number of
>people unemployed aways goes down because of the vary large number
>of people working in harvest related jobs. In winter unemployment
>always goes up as the harvest work comes to an end. Time series
>analysis of the unemployment figures must try to look for increases
>or decreases in employment over and above the season changes.
>
>I hope that helps.
>                                                                     ___
>Bill Rea                                                            (o o)

An interesting article about the "seasonally adjusted"
black magic being done with the unemployment data by
the US Bureau of Labor Statistics was in Barron's two
weeks ago, I think. For example, the November '92 data
looks so good (a gain) because it was so bad the 
previous two falls ('90 and '91). In real life, there
was a net loss of jobs in Nov. 92.

Tony
tony2@prefect.cc.bellcore.com
From: davida@Bonnie.ICS.UCI.EDU (David Andersen)
Subject: Wanted: Small amounts of stock.
Newsgroups: misc.invest
Date: 6 Jan 93 00:50:20 GMT


A few people have posted that they want to know where they can get rid
of small amounts of stock without paying comissions.  Well, after thinking
about it, I have the answer: **ME**.

Here's what I'm looking for:
 - blue chip companies
 - large companies that are not officially "blue chip" (i.e. Microsoft)
 - DJIA companies (except IBM ;-)

 - a few specialty companies (tell me what you have....)

How I'll transact:  You can send them to me COD for the amount (sorry,
you'll have to pay the COD fee....), or I will send a check to you
after I see the stock.  If you are in So. Cal., I will be happy to meet
you somewhere.....


---------------------------------------------------------------------------
David Andersen     Scary thought:  Braille menus are now available at the
                                   McDonalds Drive-Thru window.
---------------------------------------------------------------------------





Newsgroups: misc.invest
From: floydb@rpi.edu
Subject: Re: Unisys as a Play
Date: Wed, 6 Jan 1993 15:20:58 GMT

In article <1993Jan6.003830.25819@crd.ge.com> stpeters@crd.ge.com (Dick St.Peters) writes:
>In article 8054@cactus.org, ortega@cactus.org (Paul Ortega) writes:
>>
>>I think this is too shaky a company to consider their stock
>>to be undervalued.  Their stock is low-priced because it's
>>worth that little.
>
>Could be, but a better reason to avoid Unisys as a "play" is that the
>main action is over with.  The stock is roughly $10 now, but that's off
>a low of less than $2 (maybe less than $1).
>
>--
>Dick St.Peters
>GE Medical Systems, New Berlin, WI  stpeters@med.ge.com (temporary)
>GE Corporate R&D, Schenectady, NY   stpeters@crd.ge.com (permanent & forwarded)


I was in and out of call options on Unisys from Jan/Feb thru August. Unisys
went from $2 to $10 on news of its first profitable quarters and "successful"
reorganization (up on expectations) then plateaued and retreated to $8 since
then (down on news). 

Unisys would have to engender renewed expectations for its stock to advance
again. Unisys investors seem to be content with its current "business as
usual" and are thus bidding the stock within a $8 to $10 trading range.

More likely, in the near term, is that Unisys will stumble and the price
of the stock will retreat further ($6 to $8 range) before advancing again.
I don't beleive the company is viewed as a growth stock, but as a turn-around
stock. The turn-around play (expectations) has come and gone, unless it
stumbles, retreats and returns to new highs. Until it is viewed as something
other than a turn-around play it may stay within its current range or lower.

2 cents

barry
Newsgroups: misc.invest
From: jwang@rad.rpslmc.edu (jinzhao wang)
Subject: Re: Mortgage or retirement
Reply-To: jwang@rad.rpslmc.edu
Organization: Rush Presbyterian-St. Lukes Medical Center, Chicago IL 60612
Date: Thu, 7 Jan 1993 15:35:41 GMT

In article 9340@cbnewsl.cb.att.com, whoffman@cbnewsl.cb.att.com (william.hoffman) writes:
>< stuff deleted>
>
>So, investing in the 403b and having a 30 year mortgage ends up paying
>
>131,879.04 - 82566.80 = 49312.24 more in interest over the 15 years.
>so without adjusting for inflation or growth (which makes this sum even larger)
>you would have 49312.24*.35= 17,259.28. (since each years tax refunds can be 
>invested or used to pay down the mortgage when refunded, this will probably 
>grow by at least a factor of 2)
> ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

I agree that tax savings by paying more interests must taking into consideration, 
but you have over-estimated the growth potential of the tax-savings.

You need let your money grow at 5.5% interest rate to break even (i.e. $17,259.28 
grow to $20,519.55, a factor of 1.19) after 15 years. By assuming higher interest rate you can earn from your tax saving, you can get a higher growth factor (than 1.19), but
grow by a factor of 2 is out-of-the-question.

The reason for such SLOW growth on your tax savings is because the tax savings (interest differential) are negligible at the first 5 years, only significant at the last 5 years (of a 15 years period). Therefore, the power of compounding has almost been removed in this case.

>So, after 15 years you net worth is really 60006.48 - 80, 526.04 + at least
>17,259.28 = most likely (no tools handy for me to calculate the actual number)
>much greater than -20,519.55, at least -3300 probably + 10,000 or 15,000.
>

The weak power of compounding for tax savings in this case makes it difficult for the net to be positive.

>Bill
>



Newsgroups: misc.invest
From: steinman@hslrswi.hasler.ascom.ch (Jan Steinman - Bytesmiths, 3946)
Subject: Re: >>>> S-Corporations, et al and Income Prod
Reply-To: steinman@hslrswi.hasler.ascom.ch
Organization: Ascom Hasler AG
Date: Tue, 5 Jan 1993 16:14:43 GMT

In article 726241015@convex.convex.com, ssimmons@convex.com (Steve Simmons) writes:
>The technical reason behind an S-corporation is to allow an individual 
>to have limited liability in the case of a lawsuit without having to 
>pay the corporate taxes...

This is overrated. A judge can always seek to "pierce the corporate veil" if she
sees fit. This would most likely happen in the case of fraud or negligence, or
if it appeared that the corporate officers were hiding assets, such as if 
corporate assets were transferred to/from personal use within a year or so of 
declaring bankruptcy.

>Legally, you cannot hide anymore expenses on an S-corporation than 
>you can without one

There are a couple exceptions. Income from wages are subject to Social
Security, whereas distributions are not. Again, an IRS auditor or Tax Court
Judge could decide that the corporation was merely set up to avoid FICA --
this is the likely outcome where the individual provides services that would
normally be paid by salary, such as a consultant. Employees can also get health
benefits through a sub-S, but certain limits apply to "major stockholders".

---
: : Jan Steinman, Bytesmiths			   steinman@hasler.ascom.ch : :
: : 2002 Parkside Court, West Linn, OR 97068-2767 USA	    +1 503 657 7703 : :
: : Beundenfeldstrasse 35, CH-3013, Bern, Switzerland	    +41 31 999 3946 : :
From: acheng@ncsa.uiuc.edu (Albert Cheng)
Newsgroups: misc.invest
Subject: Re: load computed in performance?
Date: 7 Jan 93 17:40:39 GMT
Distribution: usa
Organization: Nat'l Ctr for Supercomp App (NCSA) @ University of Illinois
Originator: acheng@shalom.ncsa.uiuc.edu


In article <1ihjv8INNhut@CASPER.NA.CS.YALE.EDU>, chang-mark-yan-ming@cs.yale.edu (Mark Yan-Ming Chang) writes:
>
>Seems that load is not computed into the performance figures. For example, in
>today's WSJ:
>
>Fund			load	4th quarter performance
>Magellan		3%	5.25%
>Fidelity Denstiney I	8.98	7.11
>United: Income		8.5	7.55
>
>S&P500			0	5.02
>
>I don't think the 4th quarter performance takes into account of the 
>sales charge. If it is the case, then the figure is misleading.

That is right, the loads, front or back, are not included in the return
statistics.  Else it confuses people who are already in it for the long
haul.  You just have to calculate them yourself for comparision.  E.g.
(assume all dividends reinvested with no load)

Fund	Load	5 years total return	Actual return for your money
L	  8%		210%		(1-0.08)*210% = 193.2%
M	  3%		200%		(1-0.03)*200% = 194.0%
N	  0%		195%				195.0%%

[my example happens to show no load beats loaded, but that is not universal.]

Returns are often reported as {1,5,10} years averages.  You just have
to multiply them out for comparision.  E.g. 5 years total return =
5 year average to the power 5.

I think all expense, management fees, and 12-1b are included in the
performance calculation.  Can someone confirm it?
From: keithl@klic.rain.com (Keith Lofstrom)
Newsgroups: misc.invest
Subject: Looking for market simulation program
Date: 7 Jan 93 20:39:35 GMT
Article-I.D.: klic.1993Jan7.203935.1123
Organization: KLIC

A financial analyst was telling me about investment strategies.  They sounded
plausible, but as the last election demonstrates, you can make ANYTHING
sound plausible.  I would like to simulate them and find out.

Does anyone make a program (preferably for PC or Mac) which contains an
appropriately simplified stock market history, and simulates various
user defined or pre-generated strategies against that history?  For example,
suppose I decided to put a big chunk of money in high growth stock mutual
funds for 25 years.  It would be interesting to see how that would compare
in performance and risk to - say - high dividend stocks.  What I would
expect to get out is a distribution of probable outcomes - some chance of
losing it all, some chance of doubling, some chance of getting 10X, etc.
It would give me a better feel for the dynamics of things.

Any ideas?


Keith
-- 
Keith Lofstrom         keithl@klic.rain.com       Voice (503)-520-1993
KLIC --- Keith Lofstrom Integrated Circuits --- "Your Ideas in Silicon"
Design Contracting in Bipolar and CMOS - Analog, Digital, and Power ICs
From: doug_d@sdd.hp.com (Doug Deprenger)
Newsgroups: misc.invest
Subject: Re: Article: 28340 of misc.invest
Date: 6 Jan 1993 21:34:19 GMT
Organization: Hewlett-Packard, San Diego Division
Distribution: world
NNTP-Posting-Host: hpsdl126.sdd.hp.com

In article <1993Jan6.192534.10914@cs.ucla.edu>, gast@oahu.cs.ucla.edu (David Gast) writes:
|> In article <1992Dec26.172853.14557@odin.corp.sgi.com> toms@ymp.esd.sgi.com (Tom Stephenson) writes:
|> 
|> >The thing I think I would do in your place is to:
|> >	1. Open a 'normal' Schwabb account at the local Schwabb office.
|> >	2. Ask for the Mutual fund guide (they provide it free).
|> >	3. Spend a few hours on a weekend with the survey of the listed mutual
|> >	   funds and itemize the most important features. (Select the TYPE of
|> >	   fund you are intrested in).
|> >	4. Select a few funds that follow the investment strategy you have
|> >	   selected in step 3. (Growth, Bond funds etc)
|> >	5. Invest some volume of $$ based on the individual funds you select.
|> >	   (You may find some comfort in selecting funds that Schwabb offers
|> >	   with no load [commission] and provision for xfer to other funds
|> >	   with the same provision.)
|> 
|> Why open a Scwab account?  You can transfer money among mutual funds

   I opened a Schwab account for my retirement funds only. Schwab does not
   charge yearly fees.

|> yourself without having to pay Schwab any money.  Unless you believe
|> in your ability to time the market perfectly, a day one way or the
|> other is not going to make that much difference.  (And if you think you
|> can time the market perfectly, you should not be investing in mutual
|> funds.  BTW, I don't think you or anyone else can time the market perfectly).
|> 
|> Secondly, and more importantly, I would suggest that you read over the
|> account agreement very carefully.  Schwab reserves the right to do a lot
|> of things with your investments you may not like.
|> 
|> David
|> 
Newsgroups: misc.invest,misc.taxes