On Secretary's Day, Dow loses 4.05, to 3,439.44

The Ticker

April 22, 1993|By Julius Westheimer

On Secretary's Day, the Dow Jones industrial average ease 4.05 points, closing at 3,439.44. The Dow is ahead 1,454.03 points, or 73 percent, since Secretary's Day five years ago, when the DJ closed at 1,985.41.

WALL ST. WISDOM: "There are no rigid mathematical rules that can guarantee success in the stock market. There is only value and the quest for it -- an ability to find stocks that are cheap related to underlying fundamentals and earning power -- and the courage to buy them when you find them. Examples today: First Fidelity Bancorp, Galen Health Care, Marion Merrill Dow and Unilever." (David Dreman in Forbes, April 26)

BALTIMORE BITS: Custom Savings and Loyola Federal Savings & Loan appear under Top-Yielding Certificates of Deposit in Kiplinger's Personal Finance Magazine, May. The same magazine lists Adams Express Co., a locally operated stock fund, under "Best Closed-End Funds." The figures show that Adams' return on net asset value was 10, 53 and 92 percent, respectively, for one-, three- and five-year periods. The fund trades on the New York Stock Exchange . . . Baltimore Security Analysts Society will be host to Steven Leuthold, president, the Leuthold Group, Wednesday, Hyatt Hotel at noon . . . Legg

Mason (539-3400) will mail a clearly written 26-page booklet called "Real Estate Investment Trusts: Investing for Long-Term Income and Total Return."

WORKPLACE SUGGESTION: "If you're up for a raise at a company that is in poor financial health and the firm offers you an increase in your pension instead, push for the raise. Reason: If the company goes under before five years have passed, the pension increase may not be covered by the Pension Guaranty Corp., a government agency." (Howard Weitzman, Association of Private Pension & Welfare Plans)

GETTING A JOB: National Business Employment Weekly, April 22, on newsstands this week, runs a helpful article, "Spontaneous Networking: View Every Encounter as a Chance to Gather More Job Leads." Excerpts: "Remember that 65 percent of all jobs are located through personal contacts . . . Begin by considering everyone you meet or know as a potential contact, including friends, relatives and professional advisers . . .

Even casual acquaintances, like someone you meet in the supermarket, can be good job sources . . . View every meeting as a chance to present yourself in a favorable light . . . No one is going to knock on your door and offer you a position."

WALL ST. WATCH: "Want to make easy money? Bet on declining interest rates in Europe. It's the closest to a sure thing I've seen in many a moon. European bonds and stocks are where their U.S. counterparts were several years ago: cheap and screaming to be bought." (A. Gary Shilling, investment consultant, in Forbes, April 26. His whole column is worth reading) . . .

"Buy 'em when they're cold; that's the advice emerging from an important new stock market study. The best buys for the long pull are stocks that don't look exciting now, but that's the point of the study. Examples today: Aydin, Mylan Laboratories, Loews and Lindsay Manufacturing." (Mark Hulbert in same Forbes) . . . "Add to bond positions; bonds appear to have better total-return potential than stocks over the balance of this year." (S&P Outlook, April 21)

APRIL SHOWERS: How many mutual funds do you need? No-Load Fund Investor says that if the sum is less than $10,000, you need only two or three funds -- a growth fund, an asset-allocation fund and maybe a multifund, which buys shares in other funds . . . Many observers feel that EE Savings bonds are still a good investment for short-term savers, with interest rates higher than CDs and also free of state and local taxes . . . "Gold and gold stocks may be on the verge of a powerful bull market," says LaLoggia's Special Situation Report, April 16, adding, "Four gold stocks to buy now are American Barrick, Pegasus Gold, Glamis Gold and Placer Dome." . . . The latest Kiplinger Washington Letter, April 16, says employers will find good pickings in the job market for the foreseeable future, that unemployment will remain in the 6 1/2 -percent-to-7-percent area into 1994 and that pay raises will average about 4 percent this year, slightly higher than the projected inflation rate. The letter also predicts there will be no new health-care law enacted this year, but foundations are being laid for action in 1994 . . . Tomorrow night, "Wall Street Week With Louis Rukeyser" spotlights "The Future of Financial Services" . . . "Money-market funds and short-term bond funds are safe alternatives now to maturing CDs." (Alexandra Armstrong, financial planner)

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