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Investment Wisdom From Wall Street’s Legends

November 2014 by Frederik Vanhaverbeke
Successful investors seek out undervalued stocks, and often ones that have negative sentiment, reflect special situations or are covered by few analysts. Read more »

Choosing the Right Portfolio Allocation Approach for You

October 2014 by Charles Rotblut
This overview of six common asset allocation approaches will help you determine which method will work best for your portfolio. Read more »

Allocate by Market Weight (And Adjust for Personal Circumstances)

September 2014 by Charles Rotblut
Weight your stock and bond allocations in accordance with the market if you want to take the risk incurred by the average investor. Read more »

The Individual Investor’s Guide to Exchange-Traded Funds 2014

Detailed return information and data on 446 ETFs and ETNs, including an overview of the current trends in the ETF industry. Read more »

Common Investor Mistakes and Other Investing Insights

July 2014 by Charles Rotblut
In the second part of our interview with John Bogle, he discusses how investors commonly put too much emphasis on past performance. Plus, he offers his views on high-frequency trading. Read more »

“Market Wizards” Advice: Doing the Uncomfortable Thing

July 2014 by Jack Schwager
Basing trading decisions on what feels emotionally satisfying often leads to the worst portfolio performance. Read more »

The Tax Consequences of Stock Splits, Mergers and Spin-Offs

June 2014 by Claude Y. Paquin
Tracking cost basis becomes complicated when splits, mergers or spin-offs occur. Merck provided a real-life example of how to do it. Read more »

The Danger of Getting Out of Stocks During Bear Markets

May 2014 by Charles Rotblut
Panicking and pulling out of stocks during turbulent market conditions can have a significant and lasting negative impact on your wealth. Read more »

Reduce Stock Exposure in Retirement, or Gradually Increase It?

April 2014 by Michael Kitces
Starting retirement with a 30% allocation to equities and then gradually increasing it to 70% leads to a 95.1% probability of not outliving your savings. Read more »

The Top Mutual Funds Over Five Years: Credit the Bull and the Calendar

March 2014 by Charles Rotblut
Domestic stock and sector funds lead the top performers as a bull market and a calendar shift boosted their five-year returns. Read more »

The Individual Investor’s Guide to the Top Mutual Funds 2014

Our annual mutual fund guide provides information and performance statistics on more than 1,630 funds. Read more »

AAII’s Best of the Net: 2013 Guide to the Top Investment Websites, 17th Edition

This annual guide highlights the best online resources for financial information and investment data. Read more »

Using the Bucket Approach With Your Retirement Portfolio

October 2013 by Christine Benz
By segmenting their portfolios based on when they will need the money, retirees can fulfill both short-term cash and long-term growth requirements. Read more »

The Individual Investor’s Guide to Exchange-Traded Funds 2013

Detailed return information and data on ETFs and ETNs. New to this year’s guide is a listing of the 15 largest funds. Read more »

Protect Your Capital: Never Chase High Yield

July 2013 by Donald Cassidy
Buying high-yielding investments is a bet the market is wrong about the underlying risks. Find out what traits to look for in an income-producing investment. Read more »

Using Seasonal and Cyclical Stock Market Patterns

June 2013 by Jeffrey Hirsch
Presidential terms, the calendar month and a basket of January indicators give insight into market direction. Read more »

Should You Maintain an Allocation to Bonds When Current Rates Are Low?

May 2013 by Craig Israelsen
Historical data shows an advantage to keeping bonds in a diversified portfolio even when interest rates rise sharply. Read more »

Why Buy Bonds If Interest Rates Will Rise?

May 2013 by Hildy Richelson
Starting a bond ladder creates income now and produces cash flow that can be used to reinvest if and when interest rates do rise. Read more »

Portfolio Rebalancing: Observations From 25 Years of Data

April 2013 by Charles Rotblut
Using a rebalancing strategy over the past 25 years would have boosted returns, lowered volatility and kept the balance in one asset class from being drained. Read more »

The Top Mutual Funds Over Five Years: The Bear’s Claw Marks Remain

March 2013 by Charles Rotblut
The losses of the last bear market were so severe, they continue to impact the five-year annualized rates of returns for stock funds. Read more »

The Individual Investor's Guide to the Top Mutual Funds 2013

Our annual mutual fund guide provides information and performance statistics on more than 730 funds. Read more »

The Permanent Portfolio: Using Allocation to Build and Protect Wealth

December 2012 by J.M. Lawson
Based on Harry Browne’s methodology, this strategy holds four distinct asset classes to take advantage of varying economic states. Read more »

AAII’s Best of the Net: 2012 Guide to the Top Investment Websites, 16th Edition

This annual guide highlights the best online resources for financial information and investment data. Read more »

Target Date Funds: A Simple Premise, but Underlying Complexities

October 2012 by Charles Rotblut
Target date funds offer a single, diversified portfolio that grows more conservative over time, but the simplicity of their pitch masks underlying complexities. Read more »

Charles Dow’s Theory Still Valid for the 21st Century

September 2012 by Jack Schannep
Dow Theory relies on both the Dow Jones industrial average and the Dow Jones transportation average to determine whether a true market trend exists. Read more »

The Individual Investor’s Guide to Exchange-Traded Funds 2012

Detailed return information and data on ETFs and ETNs. New to this year’s guide is market performance, which helps identify funds that have traded at a premium or discount to their net asset value. Read more »

Finding the Right Withdrawal Rate: One Key to Portfolio Sustainability

July 2012 by Maria Crawford Scott
A proper withdrawal approach ensures your retirement savings last, and allows you to separate your allocation decisions from your income needs. Read more »

The Alternative Portfolio: Diversifying Away From a Traditional Allocation

June 2012 by Charles Rotblut
This portfolio has different return characteristics than a portfolio of large-cap stocks and long-term Treasuries, but was capable of beating inflation. Read more »

The Diversity of Municipal Bonds and What You Need to Know About Risks

May 2012 by Robert Doty
The bond market is split between traditional secure securities and those that are riskier, such as bonds tied to private profit-making or nonprofit borrowers. Read more »

Notes on the Current State of the Muni Bond Market

May 2012 by Annette Thau
Muni bond yields are reasonably attractive relative to Treasury yields, and fears about a rise in defaults remain totally misplaced. Read more »

Comparing a Bucket Strategy and a Systematic Withdrawal Strategy

April 2012 by Noelle E. Fox
Allocating a portfolio into three buckets for use in specific retirement time periods can help investors feel more confident that their savings will last. Read more »

The Top Funds Over Five Years: Bond Funds Take the Lead

March 2012 by Charles Rotblut
Out of the 10 top-ranking mutual fund categories, nine are in the bond arena, thanks to falling interest rates and weak five-year returns for stocks. Read more »

The Individual Investor's Guide to The Top Mutual Funds 2012

Our annual mutual fund guide provides information and performance statistics on more than 1520 funds. Read more »

2011 Year-End Screening Review: A Difficult Year for Stocks and Strategies

January 2012 by Wayne A. Thorp
Last year’s market turbulence hurt, with the AAII screens posting a median loss of 3.8%. Twenty-four screens did post gains, however, led by the T. Rowe Price screen. Read more »

The Individual Investor’s Guide to Personal Tax Planning 2011

Our annual tax and financial planning guide is designed to help you assess your current tax situation and plan for any changes that may improve your tax liability both this year and next. Read more »

AAII's Best of the Net: 2011 Guide to the Top Investment Web Sites, 15th Edition

This annual guide highlights the best online resources for financial information and investment data. Read more »

Magic Numbers: Reduce the Math of Annuities to Simple Arithmetic

October 2011 by Robert Muksian
Magic numbers are used in shortcuts that help you calculate portfolio growth, how long your savings will last and how much you can withdraw. Read more »

Retirement Spending on Planet Vulcan: Longevity Risk and Withdrawal Rates

September 2011 by Moshe A. Milevsky
The optimal amount to withdraw depends on survival probabilities, pension income, legacy goals and the willingness to risk outliving one’s assets. Read more »

The Individual Investor’s Guide to Exchange-Traded Funds 2011

This year’s expanded guide covers more than 400 ETFs, and now includes five-year annual return data. Read more »

Adding Alternative Investments to a Stock/Bond Portfolio

July 2011 by Phil DeMuth
The risks of a traditional 60% stocks/40% bonds portfolio can be lowered by adding funds that invest in real estate, commodities and hedge-fund strategies. Read more »

Picking the Right Stocks Using Charts

June 2011 by Michael Kahn
Charts can help you quickly identify the sectors, and stocks, benefiting from high levels of relative strength. Read more »

How Your Buy and Sell Orders Get Filled

May 2011 by Chris Nagy
The type, size and timing of an order to buy or sell a security impacts if, when and at what price your transaction gets filled. Read more »

Four Fundamental Tests Every Stock Investor Should Use

April 2011 by Michael C. Thomsett
Four indicators are key to stock analysis and can help evaluate a company relative to both its past and its peers. Read more »

Stock Price Movements Are Unpredictable

March 2011 by Charles Rotblut
The author of "A Random Walk Down Wall Street" explains why investors should put at least the core of their portfolios in index funds. Read more »

The Individual Investor's Guide to The Top Mutual Funds 2011

Our annual mutual fund guide provides information and performance statistics on more than 700 funds. Read more »

The Individual Investor's Guide to Personal Tax Planning for Tax Year 2010

Our annual tax and financial planning guide is designed to help you assess your current tax situation and plan for any changes that may improve your tax liability both this year and next. Read more »

International Diversification: Why It Still Makes Sense

December 2010 by Bernard R. Horn
History shows that international stocks provide diversification benefits over the long term, even though correlations become close during times of crisis. Read more »

AAII's Guide to the Top Investment Web Sites, 14th Edition, 2010

As the Internet continues to evolve, so does our annual Best of the Net Guide. The 14th edition highlights many of the websites that have won our praise for many years, as well as several newcomers. Read more »

Vehicles for Investing: Commodities or Commodity Companies?

September 2010 by John Stephenson
Commodities provide both opportunities for profit and a hedge against inflation. Find out how to invest in them. Read more »

Financial Metrics Shenanigans

August 2010 by Howard Schilit
Companies can use financial metrics to mislead investors. Being alert and paying attention to the definitions can expose such tricks. Read more »

How Much Should You Have in Equities Until Retirement?

July 2010 by Jerome Clark
A more conservative investment strategy might not do as well as a more aggressive strategy. Read more »

Deficits, the Fed, and Rising Interest Rates: Implications for Bond Investors

June 2010 by Joseph H. Davis
Making your bond portfolio more, not less, diverse is the best strategy given the uncertain outlook for interest rates. Read more »

Investing in Health Care Reform

May 2010 by Charles Rotblut
Health care mutual fund managers reveal which industries could benefit and which could suffer from the new law. Read more »

Health Care Reform's Tax Implications

May 2010 by Mitchell Freedman
New taxes will be levied by the new law starting in 2013. Read about what those taxes are and what can cause someone to be exposed to them. Read more »

Why Technical Analysis Matters

April 2010 by Michael Kahn
Chart watching can help investors make better decisions. A five-step process can take a stock from an idea to a decision to buy or sell. Read more »

Do's and Don'ts of IRA Investing

March 2010 by Robert Carlson
Complicated and restrictive rules can lead to unintended problems. Learn which assets and transactions are allowed and which are not in an IRA. Read more »

The Portfolio Review: Why It Is Important and How to Do It

January 2010 by Julie Jason
Since regular reviews are the foundation of successful investing, resolve to evaluate your portfolio. Julie Jason explains how. Read more »

The Individual Investor's Guide to Personal Tax Planning for Tax Year 2009

Our annual tax and financial planning guide is designed to help you assess your current tax situation and plan for any changes that may improve your tax liability both this year and next. Read more »

Nine Timeless Rules for Investing in Mutual Funds (and ETFs)

November 2009 by John Markese
Articles that propose some arbitrary number of rules for doing something can be surprisingly seductive. This article focuses on the arbitrary number of 9--but the underlying rules themselves are critical if you invest in mutual funds or exchange-traded funds, or are contemplating investing in them. Read more »

The Individual Investor's Guide to Exchange-Traded Funds: 2009

October 2009 by Maria Crawford Scott
Our annual survey covers over 750 stock and bond exchange-traded funds, plus information on how they work and what you need to know about investing in them. Read more »

AAII's Best of the Net: Our 2009 Guide to the Top Investment Web Sites

Our Best of the Net ratings go to investment Web sites that provide investment information or services that are useful, substantial and available for free or at a reasonable price. Read more »

Surviving a Loss: Smart Steps for Coping With Widowhood

August 2009 by Karen C. Altfest
If you have recently lost your spouse, you are confronting many changes. Because financial planning at this stage involves both a person's emotional state and financial state, many widows are pushed to make unwise decisions, or to make changes before they are ready. Smart steps for widows to take when the time is right. Read more »

Bear Market Grads: What You Should Learn From the Financial Crisis

July 2009 by Larry Swedroe
Stock indexes remain substantially below their peaks, banks are in lousy shape, and governments around the world are running huge deficits. The market has been a brutal teacher, but there are important lessons to be learned from the crisis--and positive steps investors can take going forward. Read more »

Taking Aim at Your Retirement: A Look at Target Date Mutual Funds

June 2009 by John Markese
There is an appealing simplicity in the concept of target date funds, but making the right choice among the many offerings and understanding how the funds work is not quite as simple as it appears at first glance. Read more »

Lowering Your Costs: How to Take Advantage of Direct Purchase Plans

June 2009 by Maria Crawford Scott
A simple, low-cost and low-minimum way to start investing in individual stocks is to go straight to the company source. Direct purchase plans allow you to buy shares directly from the company without a broker. A look at how the plans work and how to find them. Read more »

Member News: Our Annual Update on What's Going on at AAII

An inside look at new developments at AAII over the last year and our upcoming Investor Conference. Read more »

The Dividend Puzzle: The Relationship Between Payout Rates and Growth

May 2009 by Stanley Block
Do moderately high dividend payments increase or diminish stock values? The studies are mixed, but a look at the recent performance of stocks in the Dow indicates that firms with yields over 2% may indeed provide better capital appreciation. Read more »

Stocks for the Long Term: Why Prospects Are Rosy

January 2009 by Dale Domian
You already know the bad news concerning stocks. The good news is that based on today's depressed prices, long-term stock prospects appear above average. A look at some of the evidence that supports a rosy multi-year stock outlook, and a framework for applying these forecasts. Read more »

Your Portfolio: Maintaining Perspective

November 2008 by John Markese
Financial turmoil can prompt an emotional response that causes investors to flee stock holdings. But this can cause long-term harm to your portfolio. Instead, you need to put things in perspective and stick to the fundamental rules of investing. Read more »

The Individual Investor's 2008 Exchange-Traded Fund Guide

October 2008 by Cara Scatizzi
Our annual guide this year features over 700 exchange-traded funds. Included is a compete listing of all existing stock and fixed-income exchange-traded funds, plus information on how they work and what you need to know about investing in them. Read more »

AAII's Best of the Net: 2008 Guide to the Top Investment Web Sites, 12th edition

Our Best of the Net ratings go to investment Web sites that provide investment information or services that are useful, substantial and available for free or at a reasonable price. Read more »

The Warren Buffett Way of Finding Excellent Firms at Attractive Prices

September 2008 by Wayne A. Thorp
The legend of Warren Buffett and his investment prowess is well-documented. Buffett first seeks to identify an excellent business and then invests in it only if the price is right. A look at how to screen for firms using the Warren Buffett approach, based on the book “Buffettology” by Mary Buffett and David Clark. Read more »

Measuring Managers' Mettle: A Revealing Investment Gauge

August 2008 by Stephen T. McClellan
A critical part of the investment evaluation process is gauging management effectiveness, quality, and character. Surprisingly, this is often disregarded by Wall Street. What to look for to determine whether management can be trusted. Read more »

Will Your Savings Last? What the Withdrawal Rate Studies Show

July 2008 by William Reichenstein
Determining a "safe" withdrawal rate for retirement savings is a tricky balancing act for retirees. If it is too large, they may run through assets too quickly, but if it is too little, their lifestyle will be below where it could be. Many studies have attempted to determine the "maximum" safe rate. Lessons from what the studies have found. Read more »

Buying Straight From the Source: AAII's 2008 Direct Purchase Plan Guide

June 2008 by Cara Scatizzi
Want a simple, low-cost way to invest in a firm? One approach is to go straight to the source, using direct purchase plans, which allow you to buy shares directly from the company without a broker. This year's annual guide lists over 430 plans. Read more »

Turmoil in the Marketplace: What's Going on With Municipals?

May 2008 by Annette Thau
Losses from the current credit market crisis have affected bond insurance firms--firms that guarantee municipal bonds--and placed the entire municipal bond market under a cloud. There has been little clarity about how the problems affect the bonds under guarantee. Shedding some light on what's going on in the muni markets. Read more »

Peerless Performers: The Top Funds Over 5 Years

April 2008 by John Markese
To be rated tops, a mutual fund must beat a benchmark, and the crucial benchmark is peer group performance over five years. Who are the current top performers, and how did they outperform their peers? A look at the top funds and how they managed to distinguish themselves. Read more »

Master Strategists for 2007: AAII's Top Stock Screens

January 2008 by Wayne A. Thorp
The fiercest battle in 2007 was not among the strategists, but against the market itself. Nonetheless, the top strategist's win was decisive: The O'Shaughnessy Small Cap Growth and Value methodology closed the year up 43.9%. Read more »

A Performance Tape Measure: How to Benchmark Your Portfolio

November 2007 by John Markese
Is your fund portfolio on the right track to achieve your goals? Benchmarking provides a performance tape measure to see how well your funds have done individually and as a whole. Read more »

The Individual Investor's 2007 Guide to Exchange-Traded Funds

October 2007 by Cara Scatizzi
Our annual guide this year features over 500 exchange-traded funds. Included is a complete listing of all existing stock and fixed-income exchange-traded funds, plus articles on how they work and what you need to know about investing in them. Read more »

AAII's Best of the Net: 2007 Guide to the Top Investment Web Sites, 11th edition

Our Best of the Net ratings go to investment Web sites that provide investment information or services that are useful, substantial and available for free or at a reasonable price. Read more »

Will the Real P/E Please Stand Up?

There are many ways to calculate price-earnings ratios, and they provide a wealth of information about stock expectations. Read more »

What's in a Yield?

Understand the many meanings of yield for bond and fund investors. Read more »

Going Straight to the Source: AAII's 2007 Guide to Direct Purchase Plans

June 2007 by Cara Scatizzi
Direct purchase plans let you go straight to the source to buy company shares, which means you can buy stock with little or no commission. This year's annual guide lists over 430 plans. Read more »

Driehaus' Growth & Momentum Investing: A Roller-Coaster Ride

May 2007 by Wayne A. Thorp
The Driehaus approach is based on the philosophy of Richard Driehaus, one of 25 money managers named to the Barron’s All-Century Team in 2000. The screen focuses on small and mid-cap companies with rapidly growing earnings--and stock prices to match. Read more »

Rodney Dangerfield Investing: Closed-End Opportunities

April 2007 by John Deysher
Exchange-traded funds (ETFs) are relative newcomers compared to closed-end funds, yet ETFs are mushrooming in popularity and press coverage. Like Rodney Dangerfield, closed-end funds still don't get the respect they deserve. But "no respect" can translate into opportunities. Read more »

Discount Broker Guide 2007: How to Spot the Right Broker

February 2007 by Jean Henrich
AAII's annual survey can help you find the right broker on the crowded discount broker stage. This year's survey covers 56 firms that refer to themselves as discount, 47 of which offer on-line trading. Read more »

A Roller-Coaster Ride to a Strong Finish in 2006

January 2007 by Wayne A. Thorp
It had its ups and downs, but the market had a thrilling end, as did most strategies during 2006. Of the 58 strategies tracked on AAII.com, only four failed to generate positive returns for the year. The value-oriented Enterprising Investor methodology of Benjamin Graham was the leading strategy for the year, while James O’Shaughnessy’s Tiny Titans growth and value strategy was the long-term winner. Read more »

Withdrawal Strategies to Make Your Nest Egg Last Longer

November 2006 by William Reichenstein
Individuals who are withdrawing assets in their golden years face a relatively complex issue: Which accounts should they withdraw from first, taxable or tax-deferred? A look at alternative withdrawal strategies, and how they affect a portfolio's longevity. Read more »

The Individual Investor's Guide to Exchange-Traded Funds 2006

October 2006 by Maria Crawford Scott
Our annual guide this year features 293 exchange-traded funds--portfolio baskets of securities that look like mutual funds but trade like stocks. Read more »

Recommended Reading: Four Books That Cover It All

July 2006 by William Reichenstein
Where can you get sound financial advice and avoid the costs of attaining it? Reading the right books is an obvious choice. A recommended list of easily readable books. Read more »

Hedging Your Portfolio With Mutual Funds

June 2006 by John Markese
Hedge funds have an exotic allure, but also an unsettling side. Mutual funds, in contrast, have a more accessible structure for all investors. Are there any mutual funds that also have that siren song of hedge funds? It turns out some do, and mutual funds that have hedge fund traits may have a place in your portfolio. Read more »

What to Look for in a Closed-End Municipal Bond Fund

January 2002 by Albert J. Fredman
Mutual Funds: A closed-end fund's stock price can rise above or fall below its net asset value, depending upon supply and demand. While bond fund markdowns don't get as deep as those on equity funds, you can still find opportunities. Read more »

Stock Strategy Performance: The Winners and Losers in 2001

January 2002 by John Bajkowski
Stock Screening: The best-and worst-performing strategies of 2001 both showed strong reversals from their 2000 performance, highlighting the danger of blindly investing in the prior year's best performer. Read more »

Bond Basics: An Investor's Guide to the Many Meanings of Yield

January 2002 by Annette Thau
Bond Basics: An Investor´s Guide to the Many Meanings of Yield Bonds: The term "yield" can be confusing to investors because it has a number of different meanings. Even more confusing is the fact that these meanings are not directly comparable for individual bonds and for bond funds. Read more »

An Interview With Scott L. Scher, Portfolio Manager, CRM Small Cap Value Fund

January 2002 by Maria Crawford Scott
Feature: A value approach to investing that seeks small-cap firms undergoing positive changes. Read more »

Discount Broker Survey 2002: A Guide to Commissions and Services

January 2002 by Jean Henrich
Feature: AAII's annual guide looks at the current trends in discount brokers and provides a comparison of commissions, fees, and services. Read more »

Analyzing Volume & Price Ranges Using Equivolume Charting

January 2002 by Wayne A. Thorp
Technical Analysis: While heavy volume on an upward price move is usually viewed as a positive sign, heavy trading volume at the end or top of the price move is ignored. An in-depth look at reading equivolume charts to understand volume and price ranges. Read more »

What Steps You Should Take When Your Stock's Price Falls

November 2001 by Wayne A. Thorp
Stock Selection Strategies: There are no simple rules that will tell you when to sell a stock, but an in-depth understanding of what economic, industry, and firm fundamentals drive the price will better equip you for making decisions. Read more »

When Markets Turn Bad the Basics Remain Fundamental

November 2001 by James B. Cloonan
Feature: The year 2001 has been an example of the need for diversification across styles as well as industries. And the entire bear market should emphasize the need for a long-term commitment. Read more »

U.S. Government Bond Funds: A Portfolio Counterweight

November 2001 by John Markese
Mutual Funds: As a relatively low risk, understandable and steady counterweight for your stock portfolio, U.S. government bond funds are hard to beat if you do not want to buy the bonds directly and manage them yourself. Read more »

An Interview With Matthew B. Fahey, Portfolio Manager, Marshall Mid-Cap Value Fund

November 2001 by Maria Crawford Scott
Feature: A bottom-up value approach looks for mid-cap stocks that can make the grade. Read more »

Variable Life Insurance Policies and Stock Market Volatility

November 2001 by Peter Katt
Insurance Products: The life insurance industry has treated variable life as just a better-performing version of whole life and universal life without realizing that inherent investment volatility makes variable life a very different kind of life insurance. Read more »

Bond Investing Basics: Why Bond Prices Go Up and Down

November 2001 by Annette Thau
Bonds: Since the late 1970s, changes in the interest rate environment have become the greatest single determinant of bond returns, and managing interest rate risk has become the most critical variable in the management of bond portfolios. Read more »

How to Benefit From Reduced Capital Gains Rates

November 2001 by William Reichenstein
Tax Strategies: The Tax Relief Act of 1997 established lower capital gains tax rates for assets held for more than five years and sold sometime after 2000. Special election rules also allow individual to reset a stock's acquisition date to Jan. 2, 2001. Read more »

The Investment Implications of Lower Stock Return Prospects

October 2001 by William Reichenstein
Portfolio Strategies: There is a strong consensus among academics and professionals that long-run U.S. stock prospects are below average. Market multiples, which even with the market decline are well above average, suggest below-average future prospects. Read more »

Using Price-to-Sales Ratios for Out-of-Favor Stocks

October 2001 by John Bajkowski
Stock Screening: Proponents of price-to-sales ratios argue that sales-based valuations are better than earnings-based ones because sales is subject to fewer assumptions, interpretations and manipulations. Read more »

International Investing: It Still Makes Sense to Diversify

October 2001 by Albert J. Fredman
Mutual Funds: Correlations among the world's major markets often converge during brief U.S. market shocks. The heavy selling typically produces a worldwide domino effect during severe global traumas. Read more »

An Interview With Mary Miller, Portfolio Manager, T. Rowe Price Tax-Free Income

October 2001 by Maria Crawford Scott
Feature: Attaining compelling aftertax returns in the high-grade municipal market. Read more »

Tax Relief and the Changes to the Estate and Gift Laws

October 2001 by Clark M. Blackman
Tax Strategies: The prospect of the eventual estate tax repeal in 2010 seems to contains the promise of simplified estate planning, but the promise may be more illusion than reality. For the rest of the decade, the estate tax will be in constant flux. Read more »

Arms' Ease of Movement: Adding Volume to the Equation

October 2001 by Wayne A. Thorp
Technical Analysis: Equivolume is a method that places price activity and trading volume on an equal footing. Volume analysis is useful in identifying levels of support and resistance as well as points where these levels are broken. Read more »

AAII's Guide to the Top Investment Web Sites, 5th Edition

Feature: AAII's annual survey of investment-related Internet sites reports on the top Web sites and what we liked about them. Read more »

Discount Broker Shopping Guide: Mutual Fund Supermarkets

September 2001 by John Markese
Mutual Funds: As of 2001, 30 discount brokers offer selected mutual funds with no transaction fees attached. That means you can buy or sell funds from different families through one broker, saving time and paperwork, and with minimal fees. Read more »

An Interview With George W. Brumley III and David R. Carr Jr., Portfolio Managers, Oak Value Fund

September 2001 by Maria Crawford Scott
Feature: Following a Benjamin Graham/Warren Buffett value approach to find good businesses selling at attractive prices. Read more »

Outrageous Advertising: A Survival Guide for Investors

September 2001 by Mark Hulbert
Investment Newsletters: You wouldn't believe a used car salesman who claimed that an old car had only been driven to church on Sundays. Yet many investors paid good money to a newsletter that claimed it turned $10,000 into over $40 million in 13 years. Read more »

"Winning on Wall Street" Using the Martin Zweig Approach

September 2001 by Wayne A. Thorp
Stock Screening: Zweig's strategy seeks to identify companies with strong growth in earnings and sales, a reasonable price-earnings ratio given the company's growth rate, an absence of heavy insider selling, and relatively strong price action. Read more »

Surviving Market Volatility: Investing in Extraordinary Times

September 2001 by Michael Kassen
Market Structure: In mid-2001, volatility as measured by standard deviation of monthly returns for the S&P 500 is only a hair above average, and not as high as during the bear market of the mid-1970s or the crash of 1987. Read more »

Do Dividends Still Matter? Yes—And Here's Why

August 2001 by Donald Cassidy
Stock Selection Strategies: Even in the extraordinary market climate of the past several years, dividend actions have been strong predictors of stock-price action. Dividend yields also provide a cushion under prices when stocks go through sinking spells. Read more »

Financial Check-Up: Figuring Out Your Mutual Fund Portfolio

August 2001 by John Markese
Mutual Funds: A simple worksheet for your mutual fund portfolio allows you to see what it may generate over time in terms of income, return, and risk. It also allows you to see the trade-offs that can occur with different allocations. Read more »

Finding the Winners Among Low Price-to-Book-Value Stocks

August 2001 by John Bajkowski
Stock Screening: Simple value screens that look only for low prices relative to value tend to produce lists that include a few winners among many losers. One promising new system seeks low-valued stocks that also have solid financials. Read more »

An Interview With Charles McQuaid, Portfolio Manager, Liberty Acorn Fund

August 2001 by Maria Crawford Scott
Feature: Investing in small-cap stocks--leading the pack by not following it. Read more »

The AAII Beginner's Portfolio: An Annual Performance Review 2001

August 2001 by James B. Cloonan
Feature: While new Nasdaq rules and the switch to decimal pricing have reduced the bid-ask spread, the spread continues to be signficant for smaller-cap stocks, particularly those that have low volume. Read more »

Tax Relief: The New Act and What It Means for Individuals

August 2001 by Clark M. Blackman
Tax Strategies: In addition to adopting the largest of the president's 2001 tax cut proposals, Congress included a substantial number of reforms that provide significant increases to the maximum contributions allowed for retirement savings vehicles. Read more »

Predicting Short-Term Trends: The Cup-With-Handle Pattern

August 2001 by Wayne A. Thorp
Technical Analysis: The cup-with-handle is a bullish continuation pattern that is formed by a corrective movement in price--the handle--which follows an upward trend in prices. Read more »

Sizing Up Mutual Fund Relatives: Low-Cost Alternative Investing

July 2001 by Albert J. Fredman
Mutual Funds: ETFs, closed-end funds, HOLDRS, and folios require greater investment sophistication, but may offer unique advantages for savvy investors. Costs, investment control and tax efficiency play a major role in evaluating the alternatives. Read more »

When Companies Combine, and Other Accounting Confusions

July 2001 by Haruki Toyama
Stock Fundamentals: Plans are in the works to change the way companies account for mergers and acquisitions. Understanding the method used is vital for investors when determining the value of any business. Read more »

An Interview With Jerome Heppelmann, Portfolio Manager, PBHG Mid-Cap Value Fund

July 2001 by Maria Crawford Scott
Feature: Balancing the trade-offs: A search for valuations and growth. Read more »

The Stock Market Today: Not Your Father's Correction

July 2001 by Marcus W Robins
Stock Selection Strategies: Although there are some interesting parallels, things are considerably different today compared to what they were in the early 1970s. Read more »

Misleading Promises: Beware of Agents Bearing Guarantees

July 2001 by Peter Katt
Insurance Products: The new sales gimmick in life insurance is the exaggerated secondary guarantee. These guarantees are not benign if they are the reason a particular insurance policy is purchased, while more important criteria are ignored. Read more »

A Basic Value Rule of Thumb for Screening Stocks

July 2001 by John Bajkowski
Stock Screening: Every value investor should seek high growth and high dividends at a bargain price, but trade-offs are necessary. A fundamental value rule of thumb combines earnings yield, earnings retention, and dividend yield. Read more »

Using ROE to Analyze Stocks: What You Need to Know About

July 2001 by Ellis Traub
Stock Fundamentals: For evaluating management's skill at making use of a company's equity, ROE is the preferred metric. However, it must mean precisely the same thing to everyone who uses it. Read more »

Beneficiary Designations and IRA Distributions: The New Rules

June 2001 by Clark M. Blackman
Retirement Plans: Starting in 2001, minimum IRA distribution rules have been simplified, with many traps eliminated. A look at the impact of the new proposed rules on distributions after the owner's death. Read more »

Bond Basics for Individuals: A Guide to Buying and Selling

June 2001 by Annette Thau
In the bond markets, individual investors--even the wealthy--are all little guys. To protect your own interests, if you want to buy individual bonds you need to become an informed investor. Read more »

An Interview With Robert D'Alelio, Portfolio Manager, Neuberger Berman Genesis Fund

June 2001 by Maria Crawford Scott
Seeking good businesses at good values among the small caps. Read more »

How to Know When to Let Go When Your Advisor Starts to Lag

June 2001 by Mark Hulbert
Investment Newsletters: Most investors have no contingency plan for how to react if their chosen advisor doesn't perform as hoped. It's difficult to analyze your portfolio dispassionately and objectively once you have lost a lot of money. Read more »

DRP Stock Characteristics and a High-Yield Contrarian Screen

June 2001 by Kenneth J. Michal
Stock Screening: Companies that offer dividend reinvestment plans tend to be larger and more mature firms, with a heavy concentration of cyclicals. Investing only in DRP companies would exclude firms in smaller, high-growth industries. Read more »

The Individual Investor's Guide to Dividend Reinvestment Plans, 9th Edition

Feature: The major attraction of a dividend reinvestment plan is the opportunity to buy shares with little or no commissions levied. And this year, over a third of the DRP companies will sell the initial shares directly to the public. Read more »

Going Global: A Single Fund With a World to Choose From

June 2001 by John Markese
Mutual Funds: International diversification does not have the pronounced benefits it once had. But while world stock markets occasionally all do the same short-term dance, they still do not move in unison over the long term. Read more »

Monitoring the Smart Money by Using On-Balance Volume

May 2001 by Wayne A. Thorp
Technical Analysis: The OBV tracks the activity of smart money--large traders and investors who have inside details regarding the company's fundamentals--so you can benefit from their information without actually knowing it. Read more »

An Interview with Edwin Walczak, Portfolio Manager, Vontobel U.S. Value Fund

May 2001 by Maria Crawford Scott
Feature: Value investing in bull and bear markets: Staying the investment course with a Warren Buffett-style approach. Read more »

An Investor's Guide to Analyzing Exchange-Traded Funds

May 2001 by Albert J. Fredman
Mutual Funds: Tradable funds require greater investor sophistication than ordinary mutual funds because they trade like a stock. The stock dimension may also ignite latent speculative tendencies that might otherwise lie dormant. Read more »

IRA Conversions: Older Taxpayers Need to Consider Special Factors

May 2001 by Paul Erickson
Retirement Plans: Several factors are frequently ignored when individuals try to decide whether to convert a traditional IRA into a Roth IRA, in particular the estate tax consequences. Read more »

Screening for Stocks Using the John Templeton Value Approach

May 2001 by Kenneth J. Michal
Stock Screening: Templeton was the constant comparison shopper--whether it was clothes, furniture, a home, or stocks, he always looked for the best-priced bargains. Read more »

When to Sell a Stock: Practical and Profitable Rules

May 2001 by Donald Cassidy
Stock Selection Strategies: Many investors feel the odds are against them if they sell. The mutual fund industry drums the buy and hold refrain; but growth funds have holding periods of slightly under a year. Rules for selling stock. Read more »

Points to Ponder in Selling and Investing in Insurance Policies

April 2001 by Peter Katt
Insurance Products: Most people who wish to sell their insurance policy want to relieve themselves of having to pay the premiums for coverage that is no longer necessary. But eliminating future premiums can be done in many ways without selling a policy. Read more »

Screening for Stock Using the Lakonishok Approach

April 2001 by Wayne A. Thorp
Stock Screening: Josef Lakonishok carries the Benjamin Graham torch based on his academic research and success in investment management. His basic philosophy is to buy out-of-favor companies that are beginning to show signs of awakening. Read more »

Picking Stocks the Buffett Way: Understanding Return on Equity

April 2001 by Timothy Vick
Stock Selection Strategies: "The primary test of managerial economic performance is the achievement of a high earnings rate on equity capital employed ..." [From the 1979 Berkshire Hathaway annual report]. Read more »

Introducing Netfolio: A Powerful New Program for AAII Members

April 2001 by John Markese
Stock Selection Strategies: Netfolio is a powerful new program that can help you create and manage your own investment portfolio. As part of your AAII membership, you are eligible to receive Netfolio's suite of investor-friendly tools at no cost. Read more »

The Value of Value Funds: Why You Should Always Hold Them

April 2001 by John Markese
Mutual Funds: Over long-term periods, value and growth stocks run nearly neck-to-neck in terms of performance, but the returns from value stocks are more stable, and they tend to perform better than growth during down markets. Read more »

An Interview With Ronald Muhlenkamp, Portfolio Manager, Muhlenkamp Fund

April 2001 by Maria Crawford Scott
Feature: Searching for ROEs at a reasonable price: A top-down bottom-up approach. Read more »

Lessons From the Past: Opportunities in Small-Cap Stocks

April 2001 by Marcus W Robins
Stock Selection Strategies: The experience endured during the year 2000 is no different than that endured by the railroads over 150 years ago, or the automobile industry about 100 years ago. The difference is that this economic tragedy happened to us. Read more »

The New Improved Rules for Minimum Plan Distributions

April 2001 by Clark M. Blackman
Retirement Plans: The new 2001 proposed regulations make major simplifications to the earlier rules, and as a result it will be easier to understand and apply the minimum distribution and beneficiary designation rules. Read more »

Investing in Bonds: How to Read the Price Tables

February 2001 by Bond Market Association
Bonds: With millions of bonds outstanding, newspaper listings don't cover every single issue. But only a small fraction of outstanding bonds trade on any day, so listings of representative prices provides investors with sufficient benchmark information. Read more »

The Key Points to Look for in a Corporate Proxy Statement

February 2001 by Tom Burnett
Stock Selection Strategies: All publicly traded companies must file a proxy statement once a year in advance of their annual meeting. These statements can contain a wealth of critical data about a firm's financial health if you know where to look. Read more »

Shadow Stock Rookies: Newcomers to the 2001 Listing

February 2001 by Kenneth J. Michal
Stock Screening: Sales growth rate is often used to confirm the strength of growth in earnings per share. The median sales growth rate for the Shadow Stock Rookies is noticeably above the median for the complete Shadow Stock group. Read more »

An Interview With Robert N. Streed, Portfolio Manager, Northern Select Equity Fund

February 2001 by Maria Crawford Scott
Feature: Fund investing using a quality and growth focus in a volatile market environment. Read more »

Trading Versus Holding in a Roller-Coaster Stock Market

February 2001 by Mark Hulbert
Investment Newsletters: An examination of trading performance indicates that you can better capture the value of an investment newsletter's advice by ignoring its shorter-term trades and treating its current recommendations as longer-term advice. Read more »

Mutual Fund Analysis On-Line: Key Questions, Quick Answers

February 2001 by John Markese
Mutual Funds: Independent mutual fund Web sites storehouse and update information for all funds, making comparisons quick and comprehensive. What should you be looking for? Data checkpoints for on-line evaluations. Read more »

Shadow Stocks 2001: Out of Wall Street's Glare

February 2001 by Kenneth J. Michal
Stock Screening: A total of 209 stocks passed the Shadow Stock screens in 2001. An Excel spreadsheet with detailed financials for all of these stocks is at AAII.com (go to the Files from AAII in the Download Library). Read more »

Discount Broker Survey 2001: A Guide to Commissions and Services

January 2001 by Jean Henrich
AAII's annual guide looks at the current trends in discount brokers and provides a comparison of commissions, fees, and services. Read more »

An Interview With Nicholas D. Gerber, Portfolio Manager, Ameristock Mutual Fund

January 2001 by Maria Crawford Scott
Feature: A passively active combination using a fundamental value approach. Read more »

Keeping Costs Low: Intelligent Indexing With Bonds

January 2001 by Albert J. Fredman
Mutual Funds: Indexing makes sense for bonds: Ultra-low costs are crucial with bonds, and there's less opportunity for managers to add value with bonds than stocks. Read more »

How to Test and Interpret Trading System Performance

January 2001 by Wayne A. Thorp
Technical Analysis: Many forces are at work when you trade a system—commissions, slippage, protective stops, idle interest, margin, and short trading can all influence a trading system's performance results. Read more »

Performance Review 2000: Which Strategies did Best

January 2001 by John Bajkowski
Stock Screening: The Graham Defensive Investor (Utility Sector) Screen was the best-performing strategy last year, while the Michael Murphy Technology screen lost the most. The results were almost a mirror image of 1999. Read more »

Due Diligence Research: How to Check Out Your Broker

January 2001 by Tracy Pride Stoneman
Broker Issues: Through the NASD disclosure program, you can get background information on a broker or brokerage firm. How to use the NASD Regulation's Web site. Read more »

International Investing: A Focus on European Funds

November 2000 by John Markese
Mutual Funds: The European indexes are mostly up year-to-date, yet most European funds are down. Why? The Eruo has been down hard against the dollar this year, and currency weakness has wiped out most of the stock gains. Read more »

Point & Figure Charts Revisited

November 2000 by Wayne A. Thorp
Technical Analysis: Point & figure charts can be tricky to construct. A step-by-step example shows how to plot the X's and O's for one stock over a two-week period. Read more »

Cyber-Investing: Rationality Hits the Internet Stock Market

November 2000 by Kenneth J. Michal
Stock Screening: What a difference a year makes for Internet stocks: The same characteristics the were ignored in the spring of 2000 became closely scrutinized by the fall. A look at the performance of Internet stocks as of October 2000. Read more »

A Guide to Investing in Real Estate Investment Trusts

November 2000 by Michael Grupe
Stock Selection Strategies: Improving stability in the real estate market, compelling market values, and the search for less volatile investments in a turbulent market environment all prompt investors to give REITs a second look. Read more »

An Interview With Larry Puglia, Portfolio Manager, T. Rowe Price Blue Chip Growth Fund

November 2000 by Maria Crawford Scott
Feature: How one portfolio manager searches for durable, sustainable earnings growth in a stock to prospect for blue chips. Read more »

Shedding the Light on Value in Forgotten and Ignored Places

November 2000 by Donald Cassidy
Stock Selection Strategies: Two areas of value in the market are virtually ignored by brokerage firms' research departments and rarely traded by institutional investors: Closed-end funds and recently issued preferred stocks. Read more »

Disguised Tax-Avoidance and Other Insurance-Related Issues

November 2000 by Peter Katt
Insurance Products: The false promise of the sellers of certain retirement/insurance plans is a pairing of tax-deductible contributions and tax-free benefits--a combination that simply isn't possible in the real world. Read more »

Early Plan Distributions: How to Avoid the 10% Penalty

October 2000 by Clark M. Blackman
Tax Strategies: You can withdraw money from your retirement plans before age 59 1/2 without incurring the 10% penalty for early distributions, but it requires careful planning. The IRS-approved methods for determining equal payments. Read more »

A Look at HOLDRS: Stock Bundles Offering Unique Characteristics

October 2000 by Albert J. Fredman
Mutual Funds: Currently, most HOLDRS represent an individual's undivided beneficial ownership in a basket of 20 of the largest, most liquid companies in an industry. Unlike mutual funds, you have more control because you actually own each stock. Read more »

The Idiot Factor: Who's Minding the Corporate Store?

October 2000 by Marcus W Robins
Stock Selection Strategies: Is it possible the CEO of your favorite investment is a dolt and blissfully unaware of it? A look at how it can happen, and how to evaluate the competence of corporate managers. Read more »

An Interview With G. Kenneth Heebner, Portfolio Manager, CGM Realty Fund

October 2000 by Maria Crawford Scott
Feature: Investing in long-term growth through equity REITs. Read more »

Evaluating Valuations Using Price-Earnings Relatives

October 2000 by John Bajkowski
Stock Screening: Price-earnings relatives can establish benchmark comparisons to help identify firms that have deviated from their normal valuation levels, assuming nothing has fundamentally changed in the company, industry or market. Read more »

ID'ing When to Buy and Sell Using the Stochastic Oscillator

October 2000 by Wayne A. Thorp
Technical Analysis: Stochastics work best with those securities that are currently rading within a particular range and may prove useful in identifying buying and selling points. Read more »

How to Be Your Own Personal Fund Manager

October 2000 by James O'Shaughnessy
Portfolio Strategies: Until recently, high minimum commissions and limited access to information were high hurdles for small investors who wanted to build diversified stock portfolios. The Internet has changed that. Read more »

Screening for the Smart Money: What the Insiders Are Doing

September 2000 by Wayne A. Thorp
Stock Screening: Insiders have front-line knowledge of what is taking place at a company and, therefore, are the most informed about those things that will impact the cost of the company's stock. Read more »

Discount Broker Guide: The Mutual Fund Supermarket

September 2000 by John Markese
Mutual Funds: This year, 26 discount brokers offer selected mutual funds with no transaction fees attached. That means you can buy or sell from different fund families all through one broker, saving time and paperwork. Read more »

The Individual Investor's Guide to Investment Web Sites, 4th Edition

September 2000 by Jean Henrich
Feature: AAII's annual survey of investment-related Internet sites includes the top Web sites by category and a complete directory of addresses. Read more »

Investment Newsletters On-Line: No Real Performance Edge

September 2000 by Mark Hulbert
Investment Newsletters: Data and screening tools offered at newsletter Web sites empower the individual investor. But faster communications hasn't translated into a better performance by their stock-picking advice. Read more »

Handling IRA Proceeds: What Beneficiaries Should Know

September 2000 by Vanguard Group
Retirement Plans: Each primary beneficiary you have named for your IRA can decide independently how to handle his or her share of the IRA proceeds--but they need to understand all the options. Read more »

An Interview With Bernard Myszkowski, Portfolio Manager, Alleghany/Chicago Trust Growth & Income

September 2000 by Maria Crawford Scott
Feature: A structured approach to investing in large-cap growth stocks. Read more »

Social Security Benefits at 65: Delay, or Take the Money & Run?

August 2000 by Robert Muksian
Portfolio Strategies: Those who are about to collect Social Security need to analyze whether they are better off receiving the lower amount of benefits now, or delaying and receiving the higher amount of benefits later. How to determine the breakeven age. Read more »

Screening for Stocks Using the Dividend-Adjusted PEG Ratio

August 2000 by Kenneth J. Michal
Stock Screening: When investors begin to question the fundamentals of growth stocks, the principles of value investing are embraced. A look at the investment approach of value investor and noted contrarian, John Neff. Read more »

Kids and Mutual Funds: Educating and Investing

August 2000 by John Markese
Mutual Funds: A diversified, no-load, large-cap stock fund that has a growth objective fits the investment profile of most young investors and is likely to appeal to their interest through knowledge of the companies held by the fund. Read more »

An Interview With Benjamin Segal, Portfolio Manager, Neuberger Berman International Fund

August 2000 by Maria Crawford Scott
Feature: A bottom-up search for growth in the international markets. Read more »

Lump-Sum Distributions From Employer Retirement Plans

August 2000 by Clark M. Blackman
Tax Strategies: When your plan is invested in employer stock, special tax rules and planning opportunities arise that should be considered before you decide whether or not to roll over the distributiion. Read more »

Bad News and Price Disasters: Avoiding, Responding, Coping

August 2000 by Donald Cassidy
Stock Selection Strategies: While FDA denials, post-merger write-offs, product delays, and accounting frauds do drop stock prices harshly, the most frequent culprit is an earnings disappointment, the next most common is an earnings or growth warning. Read more »

Analyzing Supply and Demand Using Point and Figure Charts

August 2000 by Wayne A. Thorp
Technical Analysis: The usefulness of point and figure charts lies in their ability to filter out short-term price fluctuations that occur during longer, more established trends. Read more »

Fundamental Analysis: A Closer Look at Gross Margins

July 2000 by Marcus W Robins
Stock Selection Strategies: Amidst all the detailed numbers on the income statement, gross margin is one figure that may be worth obsessing over, because it sits at the middle of several of the key accounting formulas that determine business success. Read more »

Exchange-Traded Funds: A New Twist on Index Investing

July 2000 by Albert J. Fredman
Mutual Funds: Exchange-traded funds work like index funds yet trade throughout the day like stocks. They are also more economical to operate than traditional index funds. Read more »

Are U.S. Treasuries Headed for the Endangered Species List?

July 2000 by Ronald E. Desautels
Portfolio Strategies: Burgeoning federal budget surpluses are prompting the Treasury Department to reduce the supply of Treasury bonds, which has caused a general rally in long-term bonds and, more importantly, produced an inverted yield curve. Read more »

The AAII Beginner's Portfolio--2000 Review

July 2000 by James B. Cloonan
Feature: An annual update of our experimental portfolio of small stocks reviews the performance over the past seven years. Read more »

An Interview With Mason Hawkins, Portfolio Manager, Longleaf Partners Fund

July 2000 by Maria Crawford Scott
Feature: A search for undervalued firms in a strong growth market. Read more »

A Look at Different Measures of Short-Term Influences on Prices

July 2000 by John Bajkowski
Stock Fundamentals: While the long-term investor with an open position can treat short-term supply and demand disruptions as market noise, the profitability of a given trade can be strongly influenced by short-term supply and demand imbalances. Read more »

Using Variable Life Insurance as an Investment Alternative

July 2000 by Peter Katt
Insurance Products: Variable life's advantage for the dual purposes of family protection life insurance and investing depends on several factors. However, the wealth-transfer advantages of variable life appear to exist under many different scenarios. Read more »

Passively Aggressive: Index Funds and Tech Exposure

June 2000 by John Markese
Mutual Funds: Before you turbo-charge your portfolio with more tech stocks or run for cover and dump your tech holdings, first determine what your overall portfolio exposure to technology really is and see how it compares to the overall market averages. Read more »

Screening for Firms Offering Dividend Reinvestment Plans

June 2000 by Kenneth J. Michal
Stock Screening: Firms with dividend reinvestment plans offer investors advantages. But make sure you are optimistic about the stock's performance, not just enticed by the dividend reinvestment plan. Read more »

Earnings Expectations: How Important Are the Whispers?

June 2000 by Mark Bagnoli
Stock Selection Strategies: "Whisper" forecasts are unofficial earnings estimates that circulate among traders and investors. One study indicates that whisper forecasts are increasingly becoming the true market expectation of earnings. Read more »

The Real Role of Foreign Stocks in an Investor's Portfolio

June 2000 by Meir Statman
Portfolio Strategies: Investors like the theory behind diversification looking forward. But when looking at the past, investors only want to have been in the best-performing asset class. Keeping your focus on your portfolio as a whole is key. Read more »

An Interview With Ken Gregory, Portfolio Manager, Masters' Select Equity Fund

June 2000 by Maria Crawford Scott
Feature: Combining diversification with a concentrated stock-picking approach in a unique fund concept. Read more »

What You Need to Know About Taking Distributions From IRAs

June 2000 by Clark M. Blackman
Tax Strategies: The rules regarding distributions vary based on the type of IRA you have chosen. In addition, the terms of your IRA account may limit distribution options. The tax law is much more flexible than many IRA agreements. Read more »

The Individual Investor's Guide to Dividend Reinvestment Plans, 8th Edition

Feature: The major trend in dividend reinvestment plans is the increase in the number of companies that will sell the initial shares directly to the public. Details on the 974 firms that offer dividend reinvestment plans. Read more »

How Newsletters Stacked Up Over the Last 20 Years

June 2000 by Mark Hulbert
Investment Newsletters: There is one characteristic that distinguishes the top performers: Discipline. They were willing to stick to their strategies during the discouraging interludes in which they were lagging the market or even losing money. Read more »

Measuring Internal Strength: Wilder's RSI Indicator

May 2000 by Wayne A. Thorp
Technical Analysis: Wilder's relative strength index measures a stock's price relative to itself over time. Its popularity lies in its versatility in identifying market extremes and illustrating points of divergence that may signal a reversal of trend. Read more »

The Internet and Its Impact on Investing in Collectibles

May 2000 by James B. Cloonan
Opinion: Investors face high transaction costs to invest in art and other collectibles. The Internet, however, has introduced the possibility of reducing these costs for many collectibles, and this change may migrate even to very expensive areas. Read more »

Analyzing Internet Stocks: Cash Flow and the Burn Rate

May 2000 by John Bajkowski
Stock Screening: The analysis of a company's cash position and its free cash flow helps to reveal whether it is self-sustaining and provides an indication of the need for future financing. As an investor, be careful around a firm with a high burn rate. Read more »

A Look at Roth IRA Conversions and Other Taxing Issues

May 2000 by William Reichenstein
Portfolio Strategies: Which type of plan offers the best tax benefits for retirement savings: the deductible IRA, the Roth IRA or a 401(k) with matching contributions? Some simple math models to shed light on these complex issues. Read more »

An Interview With David Brady, Portfolio Manager, Stein Roe Young Investor Fund

May 2000 by Maria Crawford Scott
Feature: Lessons from a professional using an educational approach to invest in growth companies. Read more »

Speculating vs. Investing in the Current Market Environment

May 2000 by Donald Cassidy
Stock Selection Strategies: It takes discipline to leave the game while it's still so much fun. But if you are able to do so, you can find a surprising array of growth opportunities while assuming greatly reduced risk. Read more »

What You Need to Know About Closed-End Taxable Bond Funds

May 2000 by Albert J. Fredman
Mutual Funds: Closed-end bond funds have a stock dimension in addition to their income attributes--their stock prices fluctuate with changes in sentiment. Astute investors profit from this while collecting income. Read more »

Plugging Into Planning Tools Sponsored by Mutual Fund Families

April 2000 by John Markese
Mutual Funds: On-line planning programs ask you to respond to hypothetical situations. Seemingly unimportant word choices and question sequencing will influence your answers and thus the suggested asset allocation. Read more »

The Psychology Behind Common Investor Mistakes

April 2000 by R. Douglas Van Eaton
Market Structure: Standard finance models assume that investors take in information and make logically "correct" decisions. Behavioral finance introduces the possibility of less-than-perfectly-rational behavior. Read more »

Investing in Gray Matter: Evaluating a Firm's Human Assets

April 2000 by Marcus W Robins
Stock Selection: If you want to buy shares in a company that depends primarily on brainpower, you need to make sure that those brains are going to stick around. Read more »

A Look at Momentum Investing: Screening for Stocks on a Roll

April 2000 by Wayne A. Thorp
Stock Screening: Momentum investors purchase stocks that are rapidly rising in price in the belief that the rising price will attract other investors, who will drive up the price even more. One key is recognizing when the momentum is beginning to fade. Read more »

An Interview With Arthur Bonnel, Portfolio Manager, Bonnel Growth Fund

April 2000 by Maria Crawford Scott
Feature: A basic approach to growth with a focus on the mid-caps. Read more »

What You Need to Know About Individual Retirement Accounts

April 2000 by Clark M. Blackman
Tax Strategies: There are three types of IRAs to choose from, each with unique rules pertaining to contributions and distributions. You need to understand these rules in order to determine which is best for you. Part 1: contributions. Read more »

College Savings Plans: A Guide to How They Work

February 2000 by Julie Vore
Financial Planning: Savings placed in a section 529 account grow tax-deferred until the designated beneficiary withdraws funds to pay for college, at which time accumulated earnings are taxed to the beneficiary at the beneficiary's tax rate. Read more »

Out of Wall Street's Spotlight: Shadow Stocks 2000

February 2000 by Kenneth J. Michal
Stock Screening: A total of 257 stocks passed the Shadow Stock screens in 2000; however, these screens are only a starting point. AAII continuously presents articles illustrating how to analyze the prospects of specific stocks using secondary screens. Read more »

Shadow Stocks 2000: Characteristics of the Rookies

February 2000 by Kenneth J. Michal
Stock Screening: Earnings per share growth is one of the main benchmarks used for measuring company performance. But look at year-to-year trends as wells as overall growth to uncover variability and risk. Read more »

An Interview With W. George Greig, Portfolio Manager, William Blair International Growth

February 2000 by Maria Crawford Scott
Feature: A search for real growth in the international markets. Read more »

Performance Components: Investment Policy Is Key

February 2000 by Mark Hulbert
Investment Newsletters: A portfolio's performance is a function of three factors: investment policy, market timing, and security selection. A study of newsletters indicates which factor contributes the most to a portfolio's bottom line. Read more »

What Every Investor Should Know About Mutual Funds

February 2000 by John Markese
Mutual Funds: Stock funds at the top of the performance lists may continue outperforming in the next period. But what is more telling is that bad funds tend to continue to be bad. Mutual fund pearls of wisdom. Read more »

A Concession on 'Small Caps' as Micro Caps Stage a Comeback

February 2000 by James B. Cloonan
Opinion: Through much of 1999, it looked as if large-cap stocks would outperform, but the micro-cap stocks came back and beat the S&P 500. Over the long term, micro-cap stocks continue to outperform large-cap stocks by 2% a year. Read more »

Investment Strategy Claims: Don't Fall Into the Data Mine

February 2000 by Grant McQueen
Stock Selection Strategies: Data mining is the practice of finding forecasting models by searching through databases for correlations, patterns, or trading rules. But does it offer true predictive abilities? Read more »

Successful Stock Strategies: What Worked Best on Wall Street

January 2000 by John Bajkowski
Stock Screening: Large cap, growth, and technology were the strong segments in 1999. The performance of these segments is reflected in the performance of the stock screens we have been tracking, which include well-known and successful investment pros. Read more »

An Interview With William J. Nasgovitz, Portfolio Manager, Heartland Value Fund

January 2000 by Maria Crawford Scott
Feature: Stocking with small-cap value in a large-cap growth bull market. Read more »

What You Need to Know About Investing in Closed-End Funds

January 2000 by Albert J. Fredman
Mutual Funds: Because of their quirks, closed-end funds turn off many individuals, but they also offer many opportunities for disciplined investors who understand what they are buying. Read more »

Setting Up a Living Trust: How to Find the Right Attorney

January 2000 by Jim Schumacher
Estate Planning: A living trust must be set up properly in order to function as intended. Although standardized forms simplify the process, an estate planning attorney experienced with living trusts is a necessity. Read more »

Discount Broker Survey 2000: A Guide to Commissions and Services

January 2000 by Jean Henrich
Feature: AAII's annual guide looks at the current trends in discount brokers and provides a comparison of commissions, fees, and services. Read more »

The Election Cycle and Next Year's Stock Market

January 2000 by James B. Cloonan
Opinion: Is the election-year cycle theory meaningful or just a statistical game? You can make a reasonable argument for it, but specific events during a given year will have a much greater market impact. Read more »

The MACD: A Combo of Indicators for the Best of Both Worlds

January 2000 by Wayne A. Thorp
Technical Analysis: The moving average convergence/divergence, better known as the MACD, combines the characteristics of the trend-following moving average with an oscillator, which is more responsive in choppy markets. Read more »

Corporate Announcements: What the 'Insiders' Are Signalling

November 1999 by R. Douglas Van Eaton
Announcement Effects: Researchers have found that many announcements act as signals from company insiders concerning what they think about the firm's earnings prospects. These include: changes to stock dividends, stock splits, and share repurchases. Read more »

Smart Investing in REITs: Avoiding the High-Yield Trap

November 1999 by Donald Cassidy
Dividend Stocks: One out-of-favor group that represents value and provides an attractive cash flow is REITs. However, REITs come in several varieties with differing risks and attractions. Read more »

Why Last Year's Winners Falter: A Behavioral Explanation

November 1999 by Mark Hulbert
Investment Newsletters: When investors start outperforming most competitors, it's all too easy to become overly confident in our abilities, with a subsequent tendency to trade more frequently and incur greater risk. Read more »

An Interview With Kevin Landis, Portfolio Manager, Firsthand Technology Value Fund

November 1999 by Maria Crawford Scott
Feature: A search for reasonable value among stocks in the technology sector. Read more »

Cyber-Investing: An Intro to Internet Stocks as an Investment

November 1999 by Kenneth J. Michal
Stock Screening: Internet stocks are much more volatile than the market as a whole, and this is directly associated with the substantial degree of valuation risk associated with many of the stocks of the industry. Read more »

Compensatory Stock Options: When to Hold and When to Fold

November 1999 by Scott A. Leonard
Portfolio Strategies: The use of options for compensation has substantially increased. But the positive press generated by the "dot com" stock craze, compounded with record-setting large-cap stock returns, has created a false sense of security. Read more »

Frequently Asked Questions About Financial Statements

October 1999 by John Bajkowski
Fundamentals: Additional member questions and answers and the complete financial statement analysis series can be found on the AAII Web site in the section titled "Focus on Financial Statements" in the Stocks Education area. Read more »

Loan-Participation Funds: Broadening Your Bond Portfolio

October 1999 by Albert J. Fredman
Mutual Funds: These closed-end funds package participations in senior, secured floating-rate bank loans, and as ultra-short-term bond portfolios, they have virtually no interest-rate risk. Read more »

An Interview With Robert E. Turner, Portfolio Manager, Turner Growth Equity Fund

October 1999 by Maria Crawford Scott
Feature: A sector-nautral approach to picking large-cap growth stocks. Read more »

There's Gold in Those Hills for Investors Who Are Patient

October 1999 by Marcus W Robins
Small Stocks: For investors in small- and micro-cap stocks, impatience and a day-trader's mentality are the two greatest sins. If you have an itchy trading finger, you can jettison a very successful company out of your portfolio much too early. Read more »

More Tax Considerations for Maximizing Investment Returns

October 1999 by Clark M. Blackman
Tax Strategies: Understanding the tax consequences of selling your investment holdings is a necessary first step in making wise investment decisions and requires a clear idea of what you'll end up with when you walk away from the table. Read more »

Using Moving Averages in a Systematic Trading Strategy

October 1999 by Wayne A. Thorp
Technical Analysis: The advantage to using moving averages in a trading system is that you will tend to be on the "right" side of the market. However, you will always be entering or exiting positions after the trend has reversed itself. Read more »

Roth IRA Distributions: A Review of the Rules

October 1999 by Gary Trock
Roth IRAs: Taking money out of your Roth IRA for various reasons and at various times can make a difference as to whether or not you become subject to taxes or penalties. The basic guidelines. Read more »

Asset Allocation and Retirement: Do You Need to Make a Change?

October 1999 by Iris Mack Dayoub
Portfolio Strategies: The asset allocation decision should not be based on your age or your stage in life, but rather by your time horizon, your risk tolerance, and your return needs. Read more »

The Folly of Picking Advisors Based on Short-Term Returns

September 1999 by Mark Hulbert
Investment Newsletters: Investors who are obsessed by the short term can't leave their portfolios alone. They invariably become more active traders, to the detriment of the performance of their portfolios. Read more »

A Guide to Discounters Offering One-Stop Mutual Fund Shopping

September 1999 by John Markese
Mutual Funds: If you find all the mutual funds you are interested in under one discount brokerage roof and they are no-transaction-fee funds, the service is hard to beat. Read more »

An Interview With William R. Keithler, Portfolio Manager, INVESCO Strategic Portfolios--Technology

September 1999 by Maria Crawford Scott
Feature: Searching for market leaders in a broad range of technology sectors. Read more »

Sell Rules to Build Your Stock Investing Performance

September 1999 by William J. O'Neil
Stock Strategies: For many investors, selling is their greatest weakness. Spend time learning from your mistakes, and consistently use sell rules that keep the emotion and ego out of investing. Read more »

Screening for Growth Abroad: ADRs at a Reasonable Price

September 1999 by Kenneth J. Michal
Stock Screening: An ADR is a negotiable certificate issued by a U.S. commercial bank, priced in U.S. dollars, representing shares of a non-U.S. publicly traded company. They make investing abroad both simpler and less costly for the investor. Read more »

Retirement Withdrawals: A Real-World Case Study

September 1999 by J. David Lewis
A financial planner chronicles some of the personal and practical issues involved with using one's portfolio to in retirement based on his own experience managing his mother's retirement savings. Read more »

The Individual Investor's Guide to Investment Web Sites, 3rd Edition

September 1999 by Jean Henrich
Feature: AAII's annual survey of investment-related Internet sites includes the top Web sites by category and a complete directory of addresses. Read more »

Discount and Premium Bonds: Dealing With the Tax Issues

August 1999 by Clark M. Blackman
Tax Strategies: The task of understanding the tax rules concerning bond discounts and premiums is not easy given the wide variety of debt instruments and the complexity of the regulations issued. Read more »

Municipal Bond Funds: Packaged Tax-Exempt Income

August 1999 by John Markese
Mutual Funds: Tax-exempt bond funds have decidedly different strategies, but the end game is always the same--to minimize taxes. Read more »

Investing in Utility Stocks: It's a Brave New World

August 1999 by Donald Cassidy
Dividend Stocks: Competition in electric, gas, and telephone service means that a utility company providing an essential service is not guaranteed to do so profitiably enough to pay assured dividends. Read more »

Financial Ratio Analysis: Putting the Numbers to Work

August 1999 by John Bajkowski
Fundamentals: Financial ratio analysis uses historical financial statements to quantify data that will help give investors a feel for a firm´s attractiveness based on factors such as its competitive position, financial strength and profitability. Read more »

An Interview With Stephen Bauer, Portfolio Manager, SAFECO Municipal Bond Fund

August 1999 by Maria Crawford Scott
Feature: A total return focus in the tax-exempt bond market. Read more »

Payout Options: An Overview of Immediate Annuities

August 1999 by Michael E. Leonetti
Portfolio Strategies: Many individuals would prefer to know that they have a fixed guaranteed monthly amount coming to them versus the risk of investing a lump sum themselves. In this case, the annuitization of a lump sum may prove beneficial. Read more »

Inflation-Protected Bonds: A Look at the New I Bond Series

August 1999 by Paul F. Jessup
Savings Bonds: The new I series of savings bonds promises a fixed rate of return for many years, semiannual adjustments that protect investors from inflation, plus certain tax advantages--and all backed by the full faith and credit of the U.S. government Read more »

An Intro to Moving Averages: Popular Technical Indicators

August 1999 by Wayne A. Thorp
Technical Analysis: In essence, moving averages are "bending trendlines." They are popular because of their relative simplicity and their ability to confirm a trend or announce the reversal of a trend. Read more »

The AAII Beginner's Portfolio--1999 Review

July 1999 by James B. Cloonan
Feature: An annual update of our experimental portfolio of small stocks reviews the performance over the past six years. Read more »

Small Stocks vs. Large: It's How Long You Hold That Counts

July 1999 by Sherman Hanna
Market Segments: Based on the historical record, small stocks have not been inferior to large stocks for holding periods of 15 years or more. But for holding periods less than 15 years, there is a trade-off between risk and return. Read more »

Characteristics of Stocks with Dividend Reinvestment Plans

July 1999 by Kenneth J. Michal
Stock Screening: Firms with dividend reinvestment plans offer investors advantages. But make sure you are optimistic about the stock's performance, not just enticed by the dividend reinvestment plan. Read more »

Investing in High-Tech Stocks: The Semiconductor Industry

July 1999 by Michael Murphy
Stock Selection Strategies: Chip makers increase the value of their products by lowering the cost of calculating or storing information, and this reliable deflation creates its own demand for new products. Read more »

The Do's and Don'ts of Buying Variable Life Insurance Policies

July 1999 by Peter Katt
Insurance Products: Volatile equity performance can have an adverse affect on variable life insurance, but there are steps you can take to manage and minimize potential problems. Read more »

Watch What Newsletters Do, Not What They Say They'll Do

July 1999 by Mark Hulbert
Investment Newsletters: Although many newsletters say they are value-oriented, the data indicates they are more growth-oriented, probably because their editors, like us, find it easier to buy stocks that are currently in fashion. Read more »

Using Index Funds as a Part of Your Asset Allocation Strategy

July 1999 by Albert J. Fredman
Mutual Funds: Consistency of style, low costs, the assurance of besting most active managers, and tax efficiency are compelling reasons to give index funds a high priority in your asset allocation strategy. Read more »

An Interview With Brian C. Rogers, Portfolio Manager, T. Rowe Price Value Fund

July 1999 by Maria Crawford Scott
Feature: A search for out-of favor stocks among the large- and mid-cap markets. Read more »

401(k) Plans & Company Stock: How Much Should You Retain?

July 1999 by Albert J. Zdenek
Portfolio Strategies: Even if your company's stock is hot, you can have too much of a good thing if you overweight your investment portfolio so that the employer's stock is your largest holding. Read more »

The Individual Investor's Guide to Dividend Reinvestment Plans, 7th Edition

Feature: The major trend in dividend reinvestment plans is the increase in the number of companies that will sell the initial shares directly to the public. Details on the 882 firms that offer dividend reinvestment plans. Read more »

A Look at the Corporate Cash Flow Statement

June 1999 by John Bajkowski
Fundamentals: The cash flow statement can give valuable insight into how well a company is managing its growth. Ultimately, firms have to produce cash to do well in the long run. Read more »

Mutual Fund Classifications: How Do Your Funds Fit in?

June 1999 by John Markese
Mutual Funds: With the explosion of new funds, each jockeying to stand out from the crowd, fitting funds into neat classifications has become increasingly challenging, even for those in the mutual fund business. Read more »

An Interview With Peter Mitchelson, Portfolio Manager, Sit Large Cap Growth Fund

June 1999 by Maria Crawford Scott
Feature: Searching for earnings growth using a top-down, bottom-up blended approach to stock-picking. Read more »

Pension Distributions: What's the Right Option for You?

June 1999 by Stephen Craffen
Portfolio Strategies: If you are about to retire from a company with a traditional pension plan, you face one of the most important decisions you will ever make--deciding what form of payment you want to receive your benefits in. Read more »

The Five Warning Flags for Investors in Small-Cap Stocks

June 1999 by Marcus W Robins
Small Stocks: The five warning flags alert investors to potential problem areas in small-cap stocks. They also signal which stocks offer the best chance for smooth sailing. Read more »

Maximizing Returns, Part 2: Tax Considerations for Investing

June 1999 by Clark M. Blackman
Tax Strategies: Intelligent investing requires some knowledge of those tax rules that will have an impact on your returns. Part 2 in a series on fundamental tax rules. Read more »

International Diversification: Are the Benefits Dwindling?

May 1999 by Stephen E. Wilcox
International Investing: In order for diversification to work, securities that make up a portfolio must have low correlations. Over time, the correlation between the S&P 500 and the dollar-based EAFE index has increased substantially. Read more »

The Index Fund Advantage: Low-Cost Passive Investing

May 1999 by Albert J. Fredman
Mutual Funds: Index funds are a plain-vanilla investment that offer disciplined individuals rock-bottom costs, tax efficiency, style consistency, and a chance to beat the majority of actively managed funds over the long haul. Read more »

An Interview With Frederick Reynolds, Portfolio Manager, Reynolds Blue Chip Growth

May 1999 by Maria Crawford Scott
Feature: A search for growth among the world's leading companies. Read more »

Living Off Your Savings: Healthcare Issues in Retirement

May 1999 by Deborah Frazier
Portfolio Strategies: While no one can insure for all situations, retired couples can put together a cost-efficient package based on government and private programs to cover the most common healthcare scenaries. Read more »

Analyzing the Brokerage Firms: A Look at On-Line Discounters

May 1999 by Kenneth J. Michal
Stock Analysis: Internet stocks are red-hot, and one group tied directly to the Internet is the on-line discount brokerage industry. How to analyze these firms as possible investment opportunities. Read more »

Equity-Income Investing: Beware of Yield Overreaching

May 1999 by Donald Cassidy
Income Stocks: An income-oriented equity paying a no-growth dividend carries the downside of a bond without a bond's income or principal guarantees. A steady dividend rate is not good enough; steady dividend growth should be your standard. Read more »

Using Triangle Patterns to Determine Price Movement

May 1999 by Wayne A. Thorp
Technical Analysis: Over time, peaks and troughs on a price chart may narrow, forming a triangle pattern of two converging trendlines. How to read triangle patterns for possible clues to future price trends. Read more »

Maximizing Your 1999 Returns: Tax Considerations for Investing

April 1999 by Clark M. Blackman
Tax Strategies: Tax considerations should not drive investment decisions, but they certainly should not be ignored. Fundamental tax rules every investor should know. Read more »

Financial Statement Analysis: A Look at the Income Sheet

April 1999 by John Bajkowski
Fundamentals: The goal of the income statement is to determine revenue for the period covered and then match the corresponding expenses to the revenue. It presents a picture of a company's profitability over the entire period of time covered. Read more »

Can Investment Newsletters Successfully Time the Market?

April 1999 by Mark Hulbert
Investment Newsletters: Most market timers do reduce stock market risk, although often the expense is lower returns. A smaller, but not insignificant, number of market timers beat the market on a risk-adjusted basis over the long term. Read more »

What the Indexes Reveal About the Characteristics of Style

April 1999 by Jennifer Openshaw
Market Indexes: Portfolios that follow a particular style tend to favor certain industries and do better during certain economic environments. An examination of the characteristics of growth and value style indexes. Read more »

An Interview With John Bender, Portfolio Manager, Strong Corporate Bond Fund

April 1999 by Maria Crawford Scott
Feature: Finding value in corporate bonds: A focus on medium-quality credits. Read more »

Coordinating IRA Distributions With Social Security Income

April 1999 by Thomas W. Batterman
Portfolio Strategies: Selecting an improper IRA distribution strategy for individuals eligible for Social Security benefits can dramatically increase tax liabilities. How to manage IRA distributions to minimize Social Security taxes. Read more »

Growth Stock Selection: Covering All the Analysis Bases

April 1999 by William J. O'Neil
Stock Strategies: The key to successful investing is a methodical, comprehensive process that used both fundamental and technical analysis to their full advantage. A look at common traits of the biggest stock market winners. Read more »

How Much Are You Really Paying for Your Mutual Funds?

February 1999 by John Markese
Mutual Funds: Fund loads and expenses decrease your investment return dollar-for-dollar. Looking forward, the costs are predictable, while returns are not. It pays to pay attention to how much you pay. Read more »

Analyzing Stock Investments: The Concept of Relative Value

February 1999 by Marcus W Robins
Stock Strategies: All the valuation yardsticks on the relative value curve represent valid investment approaches. However, each technique as you progress along the curve tends to pose a greater degree of risk, as measured by price volatility. Read more »

An Interview With Kenneth E. Willmann, Portfolio Manager, USAA GNMA Trust

February 1999 by Maria Crawford Scott
Feature: How one professional follows the rate trend while avoiding risk when investing in Ginnie Mae securities. Read more »

Out of the Wall Street Spotlight: The 1999 Shadow Stocks

February 1999 by Kenneth J. Michal
Stock Screening: A total of 276 stocks passed the 1999 Shadow Stock screens for small companies that are not followed closely by analylsts. Read more »

The 1999 Shadow Stock Rookies: Companies New to the List

February 1999 by Kenneth J. Michal
Stock Screening: AAII´s annual screening for small companies resulted in 65 firms that are new to the Shadow Stock list, and their financial profiles indicate a diverse group of companies. Read more »

Investing for Income in a Low Interest Rate Environment

February 1999 by Robert D. Siefert
Portfolio Strategies: The dilemma for retirees: How do you invest for a desired rate of return in excess of that which is attainable from interest and dividends? Read more »

The High Price of Tax-Deferral: A Look at Deferred Annuities

February 1999 by Peter Katt
Insurance Column: Deferred annuities are popular because returns are tax-deferred, but if the full cycle of accumulations and distributions are considered, most purchasers would make a different choice. Read more »

A Close-Up on Semiconductor Equipment Manufacturers

January 1999 by Michael Murphy
Stock Selection Strategies: While the semiconductor industry has the smarts to design great new chips, none of those designs would see the light of day without continuous advances in the semiconductor equipment industry. Read more »

Financial Statement Analysis: A Look at the Balance Sheet

January 1999 by John Bajkowski
Fundamentals: The items in financial statements help measure the performance of a company and its management as well as help investors gauge the worth of the stock price. A look at balance sheet items. Read more »

Beneficiary Designations: What to Do With a Spouse's IRA

January 1999 by David J. Drucker
Portfolio Strategies: The IRA distribution decision often creeps up suddenly when minimum disbnributions are required to begin. However, if your spouse has an IRA, you may get a second chance. Read more »

The 1999 Discount Broker Survey: A Guide to Commissions and Services

January 1999 by Marie Swick
Feature: Annual survey of discounters provides a comparison of commissions charged for a range of trades, as well as services offered by the firms. Read more »

An Interview With L. Roy Papp, Portfolio Manager, Papp America-Abroad Fund

January 1999 by Maria Crawford Scott
Feature: A different approach to the international route focuses on investing at home through U.S. multinational companies. Read more »

Can Less Really Be More? Concentrating on Favorites

January 1999 by Albert J. Fredman
Mutual Funds: Does a hot stockpicker who focuses on a few dozen favorite companies have a better chance of beating the market? A look at focused funds and the double-edged sword of concentration. Read more »

Recognizing Chart Patterns: A Guide to Spotting Price Trends

January 1999 by Wayne A. Thorp
Technical Analysis: The main purpose of using stock charts is to identify trends, and trendlines are one of the simplest tools. How to spot patterns in price charts. Read more »

Industry Watch

Quarterly data on the major industry groups as of September 30, 1998. Read more »

Health and Technology: High-Powered Sector Funds

November 1998 by John Markese
Mutual Funds Workshop: Given the complexities of companies in the health and technology fields, funds focusing on these sectors provide specialized management and diversification for investors interested in commitments in these areas. Read more »

Increasing Chance of Success Based on Election-Year Cycle

November 1998 by James B. Cloonan
Opinion: Historical returns indicate you can increase the chance of investment success if you follow a strategy in which you purchase stocks during the third year of the election cycle if the market is below its high. Read more »

Are International Stocks Still Useful in Your Portfolio?

November 1998 by Maria Crawford Scott
Portfolio Strategies Workshop: A long-term look at the performance record indicates that the benefits of international diversification are still evident. In the long run, a country's performance will be based on its economic growth and productivity. Read more »

The Common Traits of Successful Investment Strategies

November 1998 by Maria Crawford Scott
Stock Analysis Workshop: Although there are many investment approaches, they share common traits--in particular seeking quality companies with good growth prospects that can be purchased at a reasonable price. Read more »

Investment Approaches: Picking a Value-Oriented Adviser

November 1998 by Mark Hulbert
Investment Newsletters Column: Value stocks have outperformed growth stocks over the long term, but putting the value approach theory into practice is easier said than done. How to choose a value adviser. Read more »

How and When to Purchase Low-Cost Term Life Insurance

November 1998 by Peter Katt
Insurance Products Column: Buying low-cost level term insurance directly from companies that advertise directly to consumers is an easy and economical way to purchase term life insurance. Read more »

Measures of Market Breadth: A Look at Trading Statistics

October 1998 by John Bajkowski
Stock Analysis Workshop: Market breadth statistics attempt to measure how widely the full range of stocks are participating in stock market movement, and are more informative about market behavior than simply following changes in an index. Read more »

The Sell Decision: Knowing When to Walk Away

October 1998 by Albert J. Fredman
Mutual Funds Workshop: Impulsively jumping in and out of your fund holdings is not a sensible approach, but neither should you assume you can simply hold for a lifetime. When to consider selling a fund. Read more »

Covering All Your Bases: Diversifying in the U.S. Markets

October 1998 by Maria Crawford Scott
Portfolio Strategies Workshop: Firms of different market capitalizations behave differently and their complementary behavior can significantly reduce risk for investors who diversify. Read more »

An Interview With Eric McKissack, Portfolio Manager, Ariel Appreciation Fund

October 1998 by Maria Crawford Scott
Feature: A search for quality and value in the mid-cap market sector. Read more »

Small-Cap Stocks Dominate, But Diversification is Still the Rule

October 1998 by James B. Cloonan
Opinion: Except for the last few years, the statistics over the long term favor small-cap stocks. But as the saying goes, "What have you done for me lately?" Read more »

Planning Considerations With the New Roth IRA

October 1998 by Clark M. Blackman
Retirement Plans Column: One of the most difficult decisions is whether an existing IRA should be converted into a Roth IRA. The interrelated factors you may need to consider. Read more »

Valuing Growth Stocks: Revisiting the Nifty Fifty

October 1998 by Jeremy Siegel
Feature: The lofty levels reached by the Nifty Fifty in the early 1970s is often held up as an example of unwarranted speculation. But investors were right to predict that the growth of these firms would eventually jusfity their prices. Read more »

It's Not Too Early for Investors to Get Ready for the January Effect

October 1998 by Richard Evans
Technical Analysis Column: Although most of the upside action does happen in January, the time to get positioned for the January effect is in October. Read more »

Investment Characteristics of Stock Screening Strategies

September 1998 by Maria Crawford Scott
Stock Analysis Workshop: AAII has developed stock screens based on the investment approaches of several well-known, successful investment professionals. Comparing the strategies and tracking their performance. Read more »

Cash Benefits: A Dual-Purpose Asset Class

September 1998 by Maria Crawford Scott
Portfolio Strategies Workshop: Cash may seem boring to investors concentrating on long-term return attributes, but it plays two important roles in any investment portfolio--providing liquidity and tempering downside risk. Read more »

The Individual Investor's Guide to Investment Web Sites, 2nd Edition

September 1998 by Jean Henrich
Feature: AAII's annual update of investment-related Web sites lists over 360 sites and what they offer individual investors. Read more »

An Interview With G. Paul Matthews, Portfolio Manager, Matthews Pacific Tiger & Asian Convertibles

September 1998 by Maria Crawford Scott
Feature: International investing: A view from the Asain market trenches. Seeking long-term growth in a volatile region. Read more »

Newsletters vs. Funds: Which are the Better Performers?

September 1998 by Mark Hulbert
Investment Newsletters Column: Newsletter performance: How winners and losers in the newsletter arena stock up against those of the mutual fund industry. Read more »

Achieving Financial Security by Conquering Personal Debt

September 1998 by Michael E. Leonetti
Financial Planning Column: Overloading on debt is expensive and removes a cushion of security in the event of a crisis. How to get a handle on your personal debt. Read more »

An IMO on the Internet: A Few Nuggets, But Lots of Trash

September 1998 by James B. Cloonan
Opinion: A perusal of Internet message boards on stock investing reveals that only a small percentage contain postings with sophisticated insights into companies. Read more »

Mutual Fund Supermarkets: One-Stop Shopping at Low Cost

September 1998 by John Markese
Mutual Funds Workshop: AAII's annual survey of mutual fund supermarkets reports on 26 discount brokers that offer hundreds of no-load funds from different families with no brokerage fees for buying and selling. Read more »

European Stock Funds: Sending Your Money Abroad

August 1998 by John Markese
Mutual Funds Workshop: With the economic union near and restructuring and privatizations in progress, Europe seems alluring. But European stock funds differ, and the actively managed funds have placed both stock and country bets. Read more »

Characteristics of the Dogs of the Dow Stocks

August 1998 by John Bajkowski
Stock Analysis Workshop: The Dogs of the Dow approach takes advantage of the long-term positive returns associated with the market, and adds a contrarian bonus by focusing on only the highest-yielding stocks. Read more »

How Much Diversification Does Your Portfolio Need?

August 1998 by Maria Crawford Scott
Portfolio Strategies Workshop: Precious metals, real estate and commodities are sometimes suggested as useful additions to your portfolio. Do they bring more diversification? And how practical is investment in them? Read more »

An Interview With Steven A. Chamberlain, Portfolio Manager, INVESCO European Fund

August 1998 by Maria Crawford Scott
Feature: A bottom-up search for growth stocks in the European marketplace. Read more »

Do Value-Added Programs Add Value for Shareholders?

August 1998 by Stanley Block
Feature: One method firms use to focus on shareholder interests is through EVA programs--measuring economic value added. What these programs are and how much they actually impact shareholder value. Read more »

Part 3: Minimum Distributions and Beneficiary Designations

August 1998 by Clark M. Blackman
Retirement Plans Column: Minimizing distributions from retirement plans involves complex rules, especially those relating to whether and when to elect to recalculate life expectancy. A guide to the choices. Read more »

Finding Universal Life Policies That Will Remain Competitive

August 1998 by Peter Katt
Insurance Products Column: Many universal life insurance policies appear to be overpriced relative to current pricing conditions. Why this is and how to find competitive pricing. Read more »

AAII's Industry Watch

Quarterly data on the major industry groups as of June 30, 1998. Read more »

Different Perspectives: A Look at Charting Techniques

July 1998 by Richard Evans
Technical Analysis Column: Bar, point & figure, candlestick, and equivolume are all chart types that can offer different perspectives on a stock's price and volume trends. Read more »

Blue-Chip Value Investing: The Dogs of the Dow

July 1998 by Maria Crawford Scott
Stock Analysis Workshop: The purely mechanical nature of the Dow Dogs approach forces strict investor discipline and requires no investment decision-making expertise. Read more »

Open- and Closed-End Convertible Funds

July 1998 by Albert J. Fredman
Mutual Funds Workshop: Mutual funds that invest in convertibles are similar to balanced funds, but they tend to hold securities of smaller firms. Read more »

Retirement Spending Rules: What Can Go Wrong?

July 1998 by Maria Crawford Scott
There are a number of approaches to determining how much savings a retiree can spend each year, but each has pitfalls. Recognizing the risks of your spending plan. Read more »

Unusual Investments: A Look at Viatical Settlements

July 1998 by James H. Gilkeson
Feature: Viatical settlements--investments in the life insurance policies of the terminally ill--have received considerable publicity because of high potential returns, but they are complex and difficult to analyze. Read more »

An Interview With Edward Keely, Portfolio Manager, Founders Growth Fund

July 1998 by Maria Crawford Scott
Feature: A discussion with one fund manager who searches for growth among the large- and mid-caps stocks. Read more »

Some Words of Caution for Investors in High-Tech Speculative Stocks

July 1998 by James B. Cloonan
Opinion: A lack of funding prompts some developmental-stage companies to turn to variable convertible preferred stock issues, with a negative impact beyond what many investors would normally expect. Read more »

Building Up your Savings by Controlling the Spending Habit

July 1998 by Michael E. Leonetti
Financial Planning Column: Saving even a small amount today can have a big impact on future savings because of compounding. But it isn´t retroactive--you must save now to enjoy the benefits in the future. Read more »

The Individual Investor's Guide to Dividend Reinvestment Plans

Feature: AAII´s 6th annual listing of companies with dividend reinvestment plans describes DRP plan mechanics and provides details on the plans for 877 firms, 182 of which allow investors to buy their initial shares directly from the company. Read more »

Record Low Dividend Yields: Is It a Bane or a Blessing?

June 1998 by H. Bradlee Perry
Feature: Skyrocketing stock valuations and declining payout ratios have resulted in the lowest dividend yields in decades. The news for investors--mostly good. Read more »

Part 2: Beneficiary Designations and Required Minimum Distributions

June 1998 by Clark M. Blackman
Retirement Plans Column: To properly plan for your retirement distributions, you need to take into consideration estate planning. A focus on the IRS rules for payments after your death. Read more »

When You're Hot, Your're Hot! Or Are You Not?

June 1998 by Mark Hulbert
Investment Newsletters Column: Testing the Read more »

What to Look for in the New Mutual Fund Profile

June 1998 by John Markese
Mutual Funds Workshop: Starting June 1998, mutual funds will be allowed to offer prospective investors a new source of information--the fund profile. A look at the points covered and what the profile can and can´t tell you. Read more »

Characteristics of Firms with Dividend Reinvestment Plans

June 1998 by John Bajkowski
Stock Analysis Workshop: Common traits of firms in the 1998 dividend reinvestment guide, and how to build a screen based on DRPs. Read more »

Scary Scenarios: Can You Survive a Meltdown?

June 1998 by Maria Crawford Scott
Portfolio Strategies Workshop: No matter what the environment, someone is always predicting disaster. The question to address is: What´s the real risk I´m facing, and what´s the best way to reduce it? Read more »

An Interview With William J. Stromberg, Portfolio Manager, T. Rowe Price Dividend Growth

June 1998 by Maria Crawford Scott
Feature: A focus on growing dividends at reasonable valuations. Read more »

A Closer Look at Funds That Focus on the Dow

May 1998 by Albert J. Fredman
Mutual Funds Workshop: The Dow Jones industrial average is the most widely followed market indicator, and now investement products that feature Dow stocks are starting to attract attention. Read more »

Re-Examining Risk Tolerance Using Worst-Case Scenarios

May 1998 by Maria Crawford Scott
Portfolio Strategies workshop: Major bull markets can cause asset allocation strategies to stray and investors to become overly complacent. Seeing how your portfolio would fare in the worst bear market. Read more »

Investing in Technology: The Michael Murphy Approach

May 1998 by Maria Crawford Scott
Stock Analysis Workshop: Regarding technology as the growth driver of the U.S. economy, Murphy seeks to identify firms that are most likely to be the future leaders and buys when they are undervalued relative to their growth potential. Read more »

An Interview With Howard Ward, Portfolio Manager, Gabelli Growth Fund

May 1998 by Maria Crawford Scott
Feature: An inside look at a mutual fund that focuses on long-term growth from firms with a competitive advantage. Read more »

Controlling Your Finances With Cash Flow Management

May 1998 by Michael E. Leonetti
Financial Planning Column: Every successful business relies on a cash management system to carefully control income and expenses, and that system can easily be applied to personal finances. Read more »

The AAII Beginner's Portfolio

May 1998 by James B. Cloonan
Feature: Stocks bought and sold over five years in an experimental portfolio built on small-cap stocks with low price-to-book ratios. Read more »

What to Look for in a Stock Repurchase Program

May 1998 by David R. Fried
Feature: Stock buybacks can be extremely beneficial to shareholders, but they have their subtleties: Companies don´t always follow through on announcements, and firms have different motivations for repurchasing shares. Read more »

A Look at the Patterns for 1997's Winners and Losers

May 1998 by Richard Evans
Technical Analysis Column: The gains from the top 1997 stock were extraordinary, but the price patterns were generic, showing a long-term decline followed by accumulation. Read more »

AAII's Industry Watch

Quarterly Feature: Industry Watch Read more »

Inflation-Indexed Treasuries: How Good Are They?

April 1998 by Robert J. Angell
Feature: Inflation-indexed Treasuries were designed to protect fixed-income investors from inflation, but the way in which they are taxed decreases the protection, and investors need to be aware of the limitations. Read more »

Beneficiary Designations and Required Minimum Distributions

April 1998 by Clark M. Blackman
Retirement Plans Column: To properly plan for retirement distributions, you need to navigate around complex IRS rules on required minimum distributions and designated beneficiaries. Guidelines to help avoid costly mistakes. Read more »

Just How Important Are Newsletters' Telephone Hotlines?

April 1998 by Mark Hulbert
Investment Newsletters Column: Investors seem to prefer newsletters that have hotlines. But do newsletters with hotlines perform any better than those without? A look at the numbers. Read more »

Life Insurance Issues and The Proposed Tax Law Changes

April 1998 by Peter Katt
Insurance Products Column: The usefulness of some life insurance products may be affected by tax law changes that may or may not be passed. What to do in the face of uncertainty. Read more »

A Combination Approach: Screens for Value on the Move

April 1998 by John Bajkowski
Stock Analysis Workshop: Screening just for stocks with low P/Es may leave you with a list of firms with no growth prospects. Adding growth screens can help you identify reasonably priced stocks with some momentum. Read more »

Beyond the Numbers: Getting to Know a Manager

April 1998 by Maria Crawford Scott
Mutual Funds Workshop: At some point you have to look beyond the performance statistics to see who made them happen, so you can form some kind of judgment about future performance. Read more »

How to Calculate the Return on your Portfolio

April 1998 by Maria Crawford Scott
Porftolio Strategies Workshop: For portfolios with significant additions or withdrawals, determining the return can be complex, and the approach used depends in part on what you are trying to measure. Read more »

An Interview With Wallace R. Weitz, Portfolio Manager, Weitz Series Value Fund

April 1998 by Maria Crawford Scott
Feature: Searching for sustainable growth at a discount using a businessman´s view of company value. Read more »

Suggested Rules for Stock Investors at the Intermediate Level

February 1998 by James B. Cloonan
Opinion: New portfolio rules that are designed to go beyond the Beginner's Portfolio, adding some growth criteria and firms with somewhat larger market capitalizations. Read more »

Industry Watch

Quarterly data on the major industry groups as of December 31, 1997. Read more »

Out of the Wall Street Spotlight: The 1998 Shadow Stocks

February 1998 by John Bajkowski
Feature: AAII´s annual listing of smaller-capitalization stocks that are out of the glare of research analysts and institutional investors. Read more »

Letters to the Editor

Member questions and comments on recent AAII Journal articles. Read more »

What to Look for When Selecting a Trustee for Your Estate Plan

January 1998 by Michael E. Leonetti
Financial Planning Column: The decision to name a trustee is a complex process that includes weighing and balancing the various factors according to personal preferences and circumstances. Read more »

Separating the Wheat From the Chaff Using Relative Strength

January 1998 by Richard Evans
Technical Analysis Column: Keeping at least a partial watch on how a stock is acting, regardless of fundamentals, can save investors headaches. Read more »

Treasury Bond Funds: A Risky Riskless Investment?

January 1998 by John Markese
Mutual Funds Workshop: Risk factors to consider before investing in riskless Treasury bond funds. Read more »

The Warren Buffett Way: Investing From a Business Perspective

January 1998 by Maria Crawford Scott
Stock Analysis Workshop: How Warren Buffett looks at industry prospects and management ability to identify stock prospects. Read more »

Establishing a Spending Account to Manage Income During Retirement

January 1998 by Maria Crawford Scott
The retirement spending account: How to obtain an annual income from a savings portfolio that is spread over several different accounts and asset classes. Read more »

Just Another Commodity: Reasons for Including Gold in a Portfolio Fade

January 1998 by James B. Cloonan
Opinion: Gold no longer offers much of a financial benefit to individual investors other than price speculation, the same as any other commodity. Read more »

The 1998 Discount Broker Survey: A Guide to Commissions and Services

January 1998 by Marie Swick
Feature: Annual survey of discounters provides a comparison of commissions charged for a range of trades, as well as services offered by the firms. Read more »

An Interview With David Lindsay, Portfolio Manager, Galaxy II U.S. Treasury Index Fund

January 1998 by Maria Crawford Scott
Feature: Tracking the government: A low-cost approach to investing in Treasuries. Read more »

Tie-Breakers: Key Points to Consider When It's a Close Call Between Funds

November 1997 by John Markese
Mutual Funds Workshop: Factors to consider that can help break a tie when choosing between similar funds. Read more »

Diversifying Among Investing Styles: The James O'Shaughnessy Approach

November 1997 by Maria Crawford Scott
Stock Analysis Workshop: Combining growth and value strategies in a portfolio: O'Shaughnessy's What Works approach to stock investing. Read more »

Planning Assumptions: Will the Real Long-Term Return Please Stand Up?

November 1997 by Maria Crawford Scott
Portfolio Strategies Workshop: Long-term return assumptions are key to any financial plan. But long-term returns vary substantially. Which one should you use? Read more »

An Interview With Susan Byrne, Portfolio Manager, Westwood Equity Fund

November 1997 by Maria Crawford Scott
Feature: A search for unexpected growth focuses on analysts' expectations to exploit Wall Street's mistakes. Read more »

Should You Convert to a Roth IRA? It Depends on Your Circumstances

November 1997 by Peter James Lingane
Feature: Delaying your decision to late in 1998 is probably prudent. But preliminary planning now could increase your options next year. Read more »

A Reality Check: Do You Need to Buy Long-Term Care Insurance?

November 1997 by Peter Katt
Insurance Products Column: With little track record on which to base decisions, potential purchasers need to thoroughly examine their needs, as well as the claims and provisions of competing policies. Read more »

What Portfolio Size Is the Best Fit for Following an Investment Newsletter?

November 1997 by Mark Hulbert
Investment Newsletters Column: Some newsletters have large model portfolios, trade frequently, and are appropriate only for large investor portfolios. Others work quite well for small portfolios. Read more »

Industry Watch

Quarterly data on the major industry groups as of September 30, 1997. Read more »

A Look at the Patterns Helps to Differentiate Stock Winners and Losers

October 1997 by Richard Evans
Technical Analysis Column: Fundamental factors ultimately determine the fate of a stock, but technical analysis can help identify those that are in the process of becoming winners or losers, Read more »

Behavioral Idiosyncrasies and How They May Affect Investment Decisions

October 1997 by Frank Campanale
Feature: Simple human nature sometimes causes investors to veer from rational decisions that would best serve long-term financial goals. Understanding these behavioral quirks can help you take the emotion out of the analysis when making decisions. Read more »

Tailoring an International Investment Portfolio Using Closed-End Country Funds

October 1997 by Albert J. Fredman
Mutual Funds Column: Closed-end funds are more complicated than their open-end siblings, but they also offer special attractions, such as the ability to purchase them at double-digit discounts. Read more »

Retirement Plan Rules, IRA Options Proliferate Under Tax Law Changes

October 1997 by Clark M. Blackman
Retirement Plans Column: Tax law changes increase applicability of traditional IRAs and add two new IRAs, expanding investor options but also adding complexity to the decision-making process. Read more »

Dealing With Success: Adjusting Rules to Deal With a Larger Portfolio

October 1997 by James B. Cloonan
A Matter of Opinion: The growth in value of the Beginner's Portfolio prompts some revisions of the original rules regarding company size, number of stocks held, and reasons for selling. Read more »

Screening for Stocks Using the Contrarian Investment Strategy

October 1997 by John Bajkowski
Stock Analysis Workshop: Applying the David Dreman approach using the Stock Investor screening program. Read more »

What Assets "Count" as Part of Your Total Investment Portfolio?

October 1997 by Maria Crawford Scott
Portfolio Strategies Workshop: Sorting out which assets to include and exclude when defining your investment portfolio: A case study. Read more »

An Interview With David Peebles and Albert Sebastian, Portfolio Managers, The USAA International Fund

October 1997 by Maria Crawford Scott
Feature: An eclectic approach to investing in the full spectrum of foreign stocks. Read more »

The Individual Investor's Guide to Mutual Fund Supermarkets

September 1997 by John Markese
Mutual Funds Workshop: Discount brokers that offer no-transaction-fee mutual funds are proliferating and rapidly expanding the universe of their offerings. Read more »

An Aggressive Growth Approach to Investing in Expanding Businesses

September 1997 by Maria Crawford Scott
Stock Analysis Workshop: A look at David Alger's approach to stock selection explains where he finds growth stocks and how he places a value on them. Read more »

Stocks With Gains But No Potential: Sell Now, or Hold for Your Heirs?

September 1997 by Maria Crawford Scott
Portfolio Strategies Workshop: If you have big gains, should you sell now and pay taxes, or hold to pass to heirs tax-free? A look at the considerations. Read more »

An Interview With Robert E. Torray, Portfolio Manager, The Torray Fund

September 1997 by Maria Crawford Scott
Feature: A search for quality companies among firms that are out-of-favor Read more »

What the Gold Market Reveals: The Anatomy of a Bear Market

September 1997 by Mark Hulbert
Investment Newsletters Column: Can you keep your buy-and-hold convictions during a bear market? If you can't, it's better to know sooner--while we re still in a bull market--rather than later. Read more »

Investment Advisers and Mutual Fund Managers: Questions to Ask

September 1997 by Michael E. Leonetti
Financial Planning Column: To select the right investment adviser, you may need to go beyond examining performance statistics and track records. Read more »

The Individual Investor's Guide to Investment Web Sites

September 1997 by Jean Henrich
Feature: The results of AAII´s investigation into the Internet: A listing of over 250 investment-related Web sites and what they offer individual investors. Read more »

The Excess Distributions Penalty: Is Moratorium a Bonanza--or Trap?

August 1997 by Myron Blatt
Feature: While Congress has put a temporary suspension on the so-called "success" excise tax, there is no simple answer as to who it would most benefit. Read more »

Social Investing Resources

August 1997 by Jean Henrich
Reference: Organizations, advisory letters, and Web sites that distribute information on social responsibility concerns in investing. Read more »

High-Yield Bond Funds: Plenty of Income, But How Much Added Risk?

August 1997 by John Markese
Mutual Funds Workshop: A look at high-yield bond funds--their recent success and the accompanying risks. Read more »

Strategies to Consider for Securities With Large Capital Gains

August 1997 by Clark M. Blackman
Retirement Plans: Regardless of what Congress passes in terms of tax relief, investors will face the dilemma of whether to sell and realize a gain or hold onto a stock they no longer like. Read more »

The Role of Insurance in Buy-Sell Planning for Businesses: Part 2

August 1997 by Peter Katt
Insurance Products: Although circumstances may vary, the focus should be on the primacy of creative business continuation planning, not on life insurance products. Read more »

Seeking Stocks With Momentum: A Look at Relative Strength Measures

August 1997 by John Bajkowski
Stock Analysis Workshop: Where to find a stock's relative strength and how this momentum indicator is calculated. Read more »

Portfolio Rebalancing and the "Problem" With Bull Markets

August 1997 by Maria Crawford Scott
Portfolio Strategies Workshop: How to keep your portfolio allocations balanced throughout a strong bull market. Read more »

An Interview with Donovan J. Paul, Portfolio Manager, INVESCO High Yield Fund

August 1997 by Maria Crawford Scott
Feature: On the prowl for value issues in the high-yield corporate bond market. Read more »

Evaluating the Level of the Market by Examining the Expected Growth Rate

August 1997 by Robert J. Angell
Feature: Current price-earnings ratios can be evaluated by calculating the growth rate in earnings and dividends implied by the market data. Read more »

Industry Watch

Quarterly data on the major industry groups as of June 30, 1997. Read more »

Going Against the Crowd: A Look at the Contrarian Investment Strategy

July 1997 by Maria Crawford Scott
Stock Analysis Workshop: David Dreman's contrarian approach capitalizes on investor biases to find overlooked stocks. Read more »

Composition Changes Prompt Another Look at the DJ Utilities Average

July 1997 by Richard Evans
Technical Analysis Column: While not a perfect indicator, the Dow Jones Utilities average has moved lower prior to major market drops. When the utilities are in a sell mode, keep your cards close to your vest. Read more »

The "Conservative" Approach to Determining Your Spending Rate

July 1997 by Maria Crawford Scott
Portfolio Strategies Workshop: Designing a spending plan for retirement using conservative assumptions. Read more »

Resources on Wills and Living Trusts

July 1997 by Jean Henrich
Reference: Reading resources on wills and living trusts that can be found in books, AAII Journal articles and on-line. Read more »

An Interview with Robert E. Kern, Portfolio Manager, Fremont U.S. Micro-Cap Fund

July 1997 by Maria Crawford Scott
Feature: A search for growth and innovation in the micro-cap stock market. Read more »

Hybrid Securities: A Basic Look at Monthly Income Preferred Stock

July 1997 by Robert T. Kleiman
Feature: MIPS offer attractive yields relative to corporate bonds and conventional preferreds, but that needs to be balanced against interest rate risk, redemption features, and tax status. Read more »

Why Investors Tend to Trade Too Much--And What to Do About It

July 1997 by James B. Cloonan
A Matter of Opinion: A new study supports the notion that individual investors tend to sell winners and hang on to losers. Understanding the underlying psychology can help you fight it. Read more »

Finding Mutual Fund Winners

July 1997 by Maria Crawford Scott
Research: A 1996 study on the historical performance of mutual funds shows that you shouldn't use past returns as the only basis for a decision. Read more »

The Smallest of the Small: Funds That Focus on Micro-Cap Companies

July 1997 by Albert J. Fredman
Mutual Funds Column: Micro-cap funds have grown in popularity because they zero in on the most inefficient part of the stock market, but they aren't for everybody--particularly the faint of heart. Read more »

DRP Newsletters and Stock Purchasing Services

June 1997 by Jean Henrich
Reference: Newsletters, directories, and Web sites that list companies with dividend reinvestment plans and services that help investors buy their first share directly. Read more »

Assessing the Characteristics of Asset Allocation Mutual Funds

June 1997 by John Markese
Mutual Funds Workshop: Asset allocation funds--a look at their similarities and differences. Read more »

Asset Allocation Strategies for Retirees Who Don't Need Income

June 1997 by Maria Crawford Scott
Portfolio Strategies Workshop: Asset allocation strategies for retirees who don't need much income from savings. Read more »

A Performance Review and Rules Recap for the Beginner's Portfolio

June 1997 by James B. Cloonan
A Matter of Opinion: A strategy based on criteria that have been successful over the long term and that is followed religiously should lead to above-average results. Read more »

An Interview with Edward Mitchell, Portfolio Manager, INVESCO Total Return Fund

June 1997 by Maria Crawford Scott
Feature: A conservative stock/bond balance using an asset allocation approach. Read more »

No-Load International Stock Investing: Direct Purchase of ADRs

June 1997 by Marie Swick
Feature: Two banks allow investors to buy their first shares of a number of foreign stocks that trade on U.S. exchanges in American depositary receipts. Read more »

A Parent's Guide: How to Introduce Kids to the World of Investing

June 1997 by Paula Hogan
Feature: Try to avoid an investing experience for your child that consists of only winning or only losing, since the education comes as much from the one as from the other. Read more »

FAQs on Distributing and Investing Assets During Your Retirement Years

June 1997 by Clark M. Blackman
Retirement Plans Column: Caring for your portfolio during retirement is a higher maintenance activity than before retirement, and it requires a commonsense approach. Read more »

The Past 17 Years and What They May Reveal About the Future

June 1997 by Mark Hulbert
Investment Newsletters Column: The two newsletters that beat the market over the last 17 years on a risk-adjusted basis are cautious on the market. Read more »

The Individual Investor's Guide to Dividend Reinvestment Plans, 5th Edition

AAII's 5th annual listing of companies with dividend reinvestment plans can be found in the middle of this issue. Read more »

AAII's Industry Watch

Quarterly data on the major industry groups as of March 31, 1997. Read more »

The Importance of Gaps: It's Where They Fall within a Trend That Counts

May 1997 by Richard Evans
Technical Analysis Column: The science of gaps--interpreting the significance of price ranges where no transactions take place. Read more »

The Ralph Wanger Approach: Growth at a Reasonable Price

May 1997 by Maria Crawford Scott
Stock Analysis Workshop: Finding growth opportunities in the small-cap arena--Ralph Wanger's Approach. Read more »

Cleaning House: Portfolio Reorganizing When You Have Too Many Mutual Funds

May 1997 by Maria Crawford Scott
Portfolio Strategies Workshop: How to trim down an overgrown mutual fund portfolio. Read more »

An Interview With Ian MacKinnon, Portfolio Manager, Vanguard Municipal Bond Portfolios

May 1997 by Maria Crawford Scott
Feature: A top-down approach to investing in the municipal bond markets Read more »

The Advantages of the Do-It-Yourself Approach to Investing in Stocks

May 1997 by James B. Cloonan
A Matter of Opinion: Managing your own stock fund--a review of the approaches and their strengths. Read more »

Fixed-Income Investing: Analyzing Closed-End Municipal Bond Funds

May 1997 by Albert J. Fredman
Mutual Funds Column: Closed-end municipal bond funds--how to analyze a complex segment of the closed-end fund universe. Read more »

Coming, Ready or Not: Reform for Medicare and Social Security

May 1997 by Michael E. Leonetti
Financial Planning Column: Social Security and medicare--a look ahead to the possible reforms. Read more »

Closed-End Municipal Bond Fund Resources

May 1997 by Jean Henrich
Reference: Resources for finding research reports on closed-end municipal bond funds. Read more »

Screening for Growth and Value Based on "What Works on Wall Street"

April 1997 by John Bajkowski
Stock Analysis Workshop: Screening stocks based on James O'Shaughnessy's Cornerstone growth and value approaches. Read more »

Contingency Plans: Helping a Spouse Cope Financially After Your Death

April 1997 by Maria Crawford Scott
Portfolio Strategies Workshop: Asset allocation and contingency plans for the death of a spouse. Read more »

Neglected Stocks and Small Caps Still Make Sense for Individuals

April 1997 by James B. Cloonan
A Matter of Opinion: Recent articles and books have questioned whether the concepts underlying Shadow Stocks remain valid. A close look at the statistics indicate that they do. Read more »

An Interview With George A. Mairs III, Portfolio Manager, Mairs & Power Growth Fund

April 1997 by Maria Crawford Scott
Feature: Seeking growth companies at a good value, with a Midwest slant. Read more »

The Investment Implications of Tax-Deferred vs. Taxable Accounts

April 1997 by William Reichenstein
Feature: Allocating a given mix among accounts with different tax structures can be a taxing question. A look at the investment implications. Read more »

Revisiting the Rules for IRA Distributions and Naming Beneficiaries

April 1997 by Clark M. Blackman
Retirement Plans Column: Revisiting the rules for IRA distributions and naming beneficiaries. Read more »

A Fresh Look at Some Old Anomalies: Are They Still Successful?

April 1997 by Mark Hulbert
Investment Newsletters Column: Is it time for investors to rethink their commitment to the better-known anomalies? Read more »

The Role of Insurance in Continuation Planning of Closely-Held Businesses

April 1997 by Peter Katt
Insurance Products Column: The role of insurance in business buy-sell planning for closely-held businesses. Read more »

How Many Mutual Funds Should You Have in Your Investment Portfolio?

April 1997 by John Markese
Mutual Funds Workshop: How many funds do you need in your investment portfolio? Read more »

AAII's Industry Watch

Quarterly data on the major industry groups as of December 31, 1997. Read more »

Rebalancing Your Portfolio When Making Periodic Withdrawals

February 1997 by Maria Crawford Scott
Portfolio Strategies Workshop: Keeping your investment portfolio in balance when making periodic withdrawals. Read more »

An Interview With Gerald J. Moran, Portfolio Manager, Scudder Global Discovery Fund

February 1997 by Maria Crawford Scott
Feature: Seeking growth opportunities among the small caps worldwide. Read more »

A Review of the Qualitative Approaches to Stock Management

February 1997 by James B. Cloonan
A Matter of Opinion: Qualitative approaches require investor judgment, and to make excess returns, your judgment needs to be more correct than that of the overall market. Read more »

A Closer Look at Money Market Funds: Bank CD Alternatives

February 1997 by Albert J. Fredman
Mutual Funds Column: Beyond the bank account--managing your cash reserves with money market mutual funds. Read more »

Experimental MSAs Offer Useful Approach for the Self-Employed

February 1997 by Peter Katt
Insurance Products Column: A Medical insurance alternative for the self-employed--how the experimental medical savings accounts work. Read more »

Research Reports: Buyer Beware

February 1997 by Maria Crawford Scott
Research: As the study's headline translates-- buyer beware! Some analyst reports may provide useful insights, but further research from other sources is always warranted. Read more »

The Bear Look

February 1997 by Maria Crawford Scott
Research: The timing of bear attacks remains elusive, and recoveries are often swift. You can best withstand a bear attack if you know in advance what to expect and are still around (invested in stocks) for recovery. Read more »

Mutual Fund Selection: How to Use AAII's Low-Load Guide Effectively

January 1997 by John Markese
Mutual Funds Workshop: Evaluating mutual funds without an approach can be overwhelming. A guided tour through AAII's 1997 Low-Load Fund Guide data page. Read more »

The Peter Lynch Approach to Investing in "Understandable" Stocks

January 1997 by Maria Crawford Scott
Stock Analysis Workshop: A bottom-up approach to stock selection--examining the Peter Lynch style of investing. Read more »

Re-Examining Your Asset Allocation in Light of Vested Pension Payments

January 1997 by Maria Crawford Scott
Portfolio Strategies Workshop: Expanding the definition of a portfolio to include a vested pension can dramatically change one's asset allocation. A case study on how to approach an expanded portfolio. Read more »

An Interview With David O. Nicholas, Portfolio Manager, Nicholas Limited Edition Fund

January 1997 by Maria Crawford Scott
Feature: Searching the small-cap market for growth at a reasonable price. Read more »

The 1997 Discount Broker Survey: A Guide to Commissions and Services

January 1997 by Jean Henrich
Feature: AAII's annual guide looks at the current trends in discount brokers and provides a comparison of brokers' commissions, fees, and services. Read more »

Index Stocks: An Introduction to SPDRs--S&P 500 Depositary Receipts

January 1997 by Robert T. Kleiman
Feature: Looking for an index fund that trades like a stock? The S&P 500 Depositary Receipt is an exchange-traded product that contains features of both. An introduction to SPDRs. Read more »

Insurance Covering Long-Term Care: Even More Important Now

January 1997 by Michael E. Leonetti
Financial Planning Column: Changes made by the new Health Insurance Act affect the way individuals can plan for long-term healthcare. A look at the key provisions. Read more »

A Time-Honored Approach to Charting: Point & Figure Analysis

January 1997 by Richard Evans
Technical Analysis Column: Using simple rows of Xs and Os to analyze stock price movement--the basics of point-and-figure charting. Read more »

An Investor's Guide to Deducting Investment-Related Expenses

November 1996 by Julian Block
Feature: What investment expenses are allowable deductions? A look at the IRS rulings and court decisions to clarify what can and can't be deducted. Read more »

Funds That Focus on the Mid-Caps: A Happy Medium Between Big & Small

November 1996 by John Markese
Mutual Funds Workshop: Funds that focus on medium-capitalization stocks are coming in vogue, but without a consensus as to what constitutes mid-size. A look at mid-cap funds. Read more »

Getting Started: Developing an Investment Plan From Ground Level

November 1996 by Maria Crawford Scott
Portfolio Strategies Workshop: Younger investors building an investment portfolio from scratch face the limitations of their meager savings. A case study gives one example of where to begin. Read more »

A Blue-Chip Value Investor: Seeking High-Quality, Out-of-Favor Stocks

November 1996 by Maria Crawford Scott
Stock Analysis Workshop: Dividends matter: A look at Geraldine Weiss' value approach to investing in the blue chips. Read more »

Quantitative Measures and What Really Works Within a Stock Portfolio

November 1996 by James B. Cloonan
A Matter of Opinion: The good news is that a disciplined investor can use a combination of criteria to beat 'the market.' The bad news is, the outperformance is not going to be dramatic. Read more »

Indexed Annuities: Too High a Price for Market 'Protection'

November 1996 by Peter Katt
Insurance Products Column: The new indexed fixed deferred annuities offer protection from market downswings, but at what price? Understanding the indexed annuity. Read more »

Timing and Selection Within the Bond Market: A Look at the Record

November 1996 by Mark Hulbert
Investment Newsletters Column: How have bond fund advisers performed? An analysis of market timing and mutual fund selection among bond fund newsletters. Read more »

An Interview With E. John deBeer, Portfolio Manager, Loomis Sayles Global Bond Fund

November 1996 by Maria Crawford Scott
Feature: International fixed-income investing: A worldwide search for high yields. Read more »

401(k) Plans

November 1996 by Jean Henrich
Reference: Understanding your options and how the plan operates is essential to getting the most out of your 401(k) plan. Read more »

Taxable vs. Tax-Deferred Accounts

October 1996 by Maria Crawford Scott
Investment Research: The advantages of tax-deferral are strong & when compounded over long periods, they may overwhelm higher tax rates. When deciding on mutual fund allocation, put the highest pretax-returning fund in the tax-deferred account. Read more »

Using Price-to-Sales Ratios to Screen for Out-of-Favor Stocks

October 1996 by John Bajkowski
Stock Analysis Workshop: Research suggests that the price-to-sales ratio may be a better determinant of undervalued stocks than price-earnings ratio. Building a screen based on the price-to-sales ratio. Read more »

Analyst Earnings Estimates

October 1996 by Jean Henrich
Reference: Finding earnings forecasts at your library, brokerage firm, or on-line. Read more »

How Are You Doing? Measuring and Monitoring an Investment Portfolio

October 1996 by Maria Crawford Scott
Portfolio Strategies Workshop: Evaluating your investment portfolio periodically involves measuring the components and the whole, as well as checking the allocation for rebalancing needs. A case study shows how to carry out these steps. Read more »

A New Route Overseas: Country Indexing With WEBS & CountryBaskets

October 1996 by Albert J. Fredman
Mutual Funds Column: New index products give investors another route to investing in individual countries: CountryBaskets and WEBS. Read more »

Tax Law Changes and How They May Affect Your Retirement Plans

October 1996 by Clark M. Blackman
Retirement Plans Column: Two bills recently passed by Congress address retirement plans: Understanding how the new tax laws may affect your retirement planning. Read more »

A Look at Style: The Characteristics of Quantitative Approaches

October 1996 by James B. Cloonan
A Matter of Opinion: The rules under a quantitative approach should be specific enough that they could be programmed into a computer, although complete automation is impractical. Read more »

Basic Truths About Asset Allocation: A Consensus View Among the Experts

October 1996 by William Reichenstein
Feature: The widespread consensus among investment professionals reveals basic truths concerning the appropriate asset mix for the typical investor. Read more »

An Interview With Donald Yacktman, President and Portfolio Manager, Yacktman Fund

October 1996 by Maria Crawford Scott
Feature: A search for profitable businesses with shares selling at a discount. Read more »

A Question of Style: Categorizing the Various Investment Approaches

September 1996 by James B. Cloonan
A Matter of Opinion: Investment style has been defined in many ways, but however you describe it, most successful investors have one that they consistently apply. Read more »

Newsletters That Focus on Mutual Funds: How Do They Stack Up?

September 1996 by Mark Hulbert
Investment Newsletters Column: Should you use an advisory newsletter to guide your mutual fund decisions? A look at the performance of mutual fund newsletters. Read more »

Rollover Options When Receiving Distributions From Employer Plans

September 1996 by Michael E. Leonetti
Financial Planning Column: Many workers will receive lump-sum retirement distributions that they may wish to roll into an IRA. Understanding the intricacies of IRA rollovers. Read more »

The Same Patterns Remain Even When the Market Index Changes

September 1996 by Richard Evans
Technical Analysis Column: Speed resistance lines can help identify expected market support and resistance levels. Applying Dow Theory's 1/3-2/3 concept to the Nasdaq composite. Read more »

An Interview With Thomas Hazuka, Portfolio Manager, Vanguard Asset Allocation

September 1996 by Maria Crawford Scott
Feature: An approach to adding value by allocating among asset classes. Read more »

Selecting the Mortgage Term: How to Compare the Alternatives

September 1996 by Clarence C. Rose
Feature: The selection of the term of the mortgage is an important consideration for real estate buyers. A comparison of the 15-year versus the 30-year term mortgage. Read more »

The Individual Investor's Guide to No-Transaction-Fee Discount Brokers

September 1996 by John Markese
Mutual Funds Workshop: Using a discount broker to trade mutual funds has many advantages, as well as some limitations. A guide to no-transaction-fee discount brokers. Read more »

It's Quality That Counts: The Fisher Approach to Stock Investing

September 1996 by Maria Crawford Scott
Stock Analysis Workshop: Judging the qualitative factors of a growth company when selecting stocks: The Philip A. Fisher approach to investing. Read more »

Approaching Retirement: The Transition From One Mix to Another

September 1996 by Maria Crawford Scott
Portfolio Strategies Workshop: How do you move from one asset mix to another? A case study on making the transition as you approach retirement. Read more »

America's Capital Productivity

August 1996 by Maria Crawford Scott
Investment Research: The study is of more interest to economists & individual corporations, but investors in U.S. companies right now are getting the best return on investment dollars. Continued demand for good performance adds to bottom lines worldwide. Read more »

An Individual Investor's Guide to Managing Your Own 'Mutual Fund'

August 1996 by James B. Cloonan
A Matter of Opinion: There are many different approaches to managing your own portfolio of stocks, and the Beginner's Portfolio is a good example of one of the simplest methods. Read more »

Straightforward Answers to Common Questions on Retirement Plan Rules

August 1996 by Clark M. Blackman
Retirement Plans Column: Studying the rules for IRAs and employer-sponsored plans can raise more questions than it answers. Answers to the most common questions. Read more »

Passing on Your Wealth: Gift Planning and the Use of Life Insurance

August 1996 by Peter Katt
Insurance Products Column: Gifting is often used to transfer wealth to your heirs while minimizing taxes. Employing life insurance products in gifting strategies. Read more »

Stock Return Probabilities

August 1996 by Maria Crawford Scott
Investment Research: The probability tables in the article present another way of looking at the risk/return equation for common stock investment. And once again, the study offers proof that stocks do indeed provide an inflation hedge over time. Read more »

An Interview With Philip G. Condon, Portfolio Manager, Scudder High Yield Tax Free Fund

August 1996 by Maria Crawford Scott
Feature: A search for value and higher yields in the municipal bond market. Read more »

Living off Retirement Savings in a World of Uncertain Return Patterns

August 1996 by Maria Crawford Scott
Uncertain returns year-to-year forces retirees to act conservatively. But there is more than one way of being conservative with your retirement portfolio. Read more »

A Guide to Municipal Bond Funds: Differences Behind the Similarities

August 1996 by John Markese
Mutual Funds Workshop: All tax-exempt funds are not alike. A look at the differences among municipal bond mutual funds. Read more »

The Basics of Cash Flow Analysis in the Stock Selection Process

August 1996 by John Bajkowski
Stock Analysis Workshop: Studying the cash flow of companies reveals the effectiveness of their managment. The basics of cash flow and applying a cash flow screen. Read more »

Saving and Investing to Meet the Expenses of Your Child's Education

August 1996 by Maria Crawford Scott
How do you start saving and investing for your child's college education? Examining a case study provides some guidance. Read more »

An Interview With Harold J. Levy, Portfolio Manager, First Eagle Fund of America

July 1996 by Maria Crawford Scott
Feature: A value approach that analyzes stock as if buying the business. Read more »

An Expanded Portfolio View Includes Real Estate and Human Capital

July 1996 by Charles Delaney
Feature: When should your asset allocation differ from the "norm"? An expanded portfolio view can help provide the answer. Read more »

CAN SLIM: A Growth Approach Using Technical and Fundamental Data

July 1996 by Maria Crawford Scott
Stock Analysis Workshop: William O'Neil's CAN SILM approach to stock selection combines fundamental and technical factors in a search for growth. Read more »

Young Couples: Developing a Coordinated Approach to Savings

July 1996 by Maria Crawford Scott
Portfolio Strategies Workshop: Conflicts can arise when a couple realizes their separate retirement plans won't lead to a coherent strategy at retirement. Meshing plans into one approach. Read more »

Fixed-income Investing: An Objective Look at High-Yield Bond Funds

July 1996 by Albert J. Fredman
Mutual Funds Column: Understanding the factors that affect high-yield bond funds can help you decide if these volatile funds belong in your investment portfolio. Read more »

Lifestyle Changes: Myths and Misconceptions About Life in Retirement

July 1996 by Michael E. Leonetti
Financial Planning Column: Knowing what to expect and what not to expect as you enter retirement can ease this major lifestyle transition. Debunking the myths of retirement. Read more »

For Chronic Fundaholics: Becoming Your Own Stock Portfolio Manager

July 1996 by James B. Cloonan
A Matter of Opinion: There are numerous individuals who could earn for themselves that 1% to 2% advisory fee they are paying to someone else in a mutual fund. Read more »

Bad Timing and Long-Term Investing

July 1996 by Maria Crawford Scott
Investment Research: Good returns can still come out of bad timing decisions if an investor sticks to a long-term buy-and-hold investment program. The earlier an investor is in the market, the better. Read more »

Small Company Stocks

July 1996 by Jean Henrich
Reference: Where to look for financial information regarding small company stocks. Read more »

Pattern Analysis: Using Triangles to Spot Trends in Low-Priced Stocks

July 1996 by Richard Evans
Technical Analysis Column: Analyzing patterns in stock price movement can reveal potential buying and selling opportunities. Using triangles to judge patterns in low-priced stocks. Read more »

Avoiding Multi-State Death Taxes: Steps to Establishing Your Domicile

June 1996 by David M. Daly
Feature: Establishing your state of domicile is crucial to ensuring that more than one state doesn't levy death taxes on your estate. A list of actions you can take. Read more »

Tax Planning Considerations for the Sale of Your Home

June 1996 by Clarence C. Rose
Feature: Tax strategies that can help you defer, reduce, and possibly eliminate taxes on the profit realized from the sale of your primary residence. Read more »

Underwriters and Analyst Recommendations

June 1996 by Maria Crawford Scott
Investment Research: If your broker recommends an initial public offering, find out who the underwriters are; if your broker's firm is an underwriter, you should probably view the recommendation with a healthy dose of skepticism. Read more »

Assessing Gold Funds: It's the Mettle That Makes the Most Difference

June 1996 by John Markese
Mutual Funds Workshop: All gold funds are not alike: Varying emphasis on the industry segment and the producer countries results in a wide range of returns. A comparison of gold funds. Read more »

The Chance to Beat the Market Comes During Good Times, Not Bad

June 1996 by James B. Cloonan
A Matter of Opinion: You can't beat the market without taking on more risk, so if that is your goal, you must give more attention to return than to risk. Read more »

Investment Characteristics of Firms With Dividend Reinvestment Plans

June 1996 by John Bajkowski
Stock Analysis Workshop: A look at the investment characteristics of companies that offer dividend reinvestment plans. Read more »

Allocating Investments: Coordinating Retirement Plans and Taxable Savings

June 1996 by Maria Crawford Scott
Portfolio Strategies Workshop: Coordinating your retirement plans with taxable savings: A case study of how to allocate the investments for tax efficiency. Read more »

Minimum Distributions & Beneficiary Designations: Planning Opportunities

June 1996 by Clark M. Blackman
Retirement Plans Column: Careful planning of minimum distributions and beneficiary designations can help minimize income and estate taxes on your IRAs. Read more »

Gold Loses Its Luster for Newsletters That Seek to Time the Market

June 1996 by Mark Hulbert
Investment Newsletters Column: A look at the performance of newsletters that time the gold market indicates that asset allocation, rather than timing, offers more promise for gold investors. Read more »

The Individual Investor's Guide to Dividend Reinvestment Plans, 4th Edition

AAII's 4th annual listing of companies with dividend reinvestment plans can be found in the middle of this issue. Read more »

The World Markets as a Hedge

June 1996 by Maria Crawford Scott
Investment Research: The research supports the notion that "When the U.S. stock market sneezes, the rest of the world catches a cold." Read more »

An Interview With Seung K. Kwak, Portfolio Manager, Japan Fund

June 1996 by Maria Crawford Scott
Feature: A focus on finding opportunities in a recovering Japanese economy. Read more »

Learning About the Futures Market

May 1996 by Jean Henrich
Reference: A list of sources including futures exchanges, regulatory commission, industry associations, and basic books on futures. Read more »

An Interview With Brian Berghuis, Portfolio Manager, T. Rowe Price Mid-Cap Growth Fund

May 1996 by Maria Crawford Scott
A search among the mid-caps for growth at a reasonable price. Read more »

Understanding 401(k) Mechanics: A Look at How the Plans Operate

May 1996 by Albert J. Golly
Feature: Understanding the rules governing your 401(k) plan can help you keep tabs on your account. A look at how the plans are administered. Read more »

Value Investing: A Look at the Benjamin Graham Approach

May 1996 by Maria Crawford Scott
Stock Analysis Workshop: Looking to the father of stock analysis for a classic approach to stock selection: Benjamin Graham and value investing. Read more »

Assessing Your Portfolio Allocation From a Retiree's Point of View

May 1996 by Maria Crawford Scott
Portfolio Strategies Workshop: Retirees need to check their portfolios periodically to ensure that savings will last. Assessing your portfolio: A case study. Read more »

The Mutual Fund Route to the Growth Potential of Emerging Markets

May 1996 by Albert J. Fredman
Mutual Funds Column: A burgeoning segment of mutual funds offers opportunity for diversified investment in countries with developing markets. A look at emerging market funds. Read more »

A Practical Look at What You Need to Know About Medicare

May 1996 by Michael E. Leonetti
Financial Planning Column: A plain-English description of the Medicare system: What it does and does not cover under present rules. Read more »

Everyone Loves a Winner, But Should They? A Look at the "Loser" Approach

May 1996 by Richard Evans
Technical Analysis Column: Where better to find companies poised for a turnaround than lists of poor-performing stocks? Searching for the next winners among last year's losers. Read more »

Be Wary of Products Marketed Mainly for Tax-Advantaged Status

April 1996 by Peter Katt
Insurance Products Column: In the quest for more tax advantages, some insurance products go too far. A rundown of designs that demand a skeptic's eye. Read more »

1995 Will Be a Hard Act to Follow in the Election Year Cycle

April 1996 by James B. Cloonan
Assessing the impact of an election on the stock market is an interesting exercise, but don't place any heavy bets on the pundits. Read more »

Introducing the Internet: A Tour of Useful Sites for Individual Investors

April 1996 by Michael S. Gutierrez
The Internet offers a wealth of financial information for investors, but finding the useful sites among the vast web of pages can be difficult. Read more »

An Interview With Jeffrey Koch, Portfolio Manager, Strong Corporate Bond Fund

April 1996 by Maria Crawford Scott
Feature: A top-down approach to investing in the corporate bond market. Read more »

Benchmarking: Assessing Your Ability as a Manager of Fund Managers

April 1996 by John Markese
Mutual Funds Workshop: How have you done in managing your portfolio of mutual funds? Using benchmarks to measure your ability as a portfolio manager. Read more »

Screening for Cash-Rich Firms That Will Put Their Money to Good Use

April 1996 by John Bajkowski
Stock Analysis Workshop: Is a high cash position a healthy sign in a firm? Maybe, but maybe not. Screening for cash-rich stocks and interpreting the results. Read more »

Receiving a Retirement Plan Distribution: Considerations for Younger Investors

April 1996 by Maria Crawford Scott
Portfolio Strategies Workshop: What should a twentysomething investor do with a retirement distribution when changing jobs? A look at the alternatives. Read more »

The Rules for Required Minimum Distributions & Beneficiary Designations

April 1996 by Clark M. Blackman
Retirement Plans Column: The rules for minimum distributions and beneficiary designations: Shedding some light on a complicated tax area. Read more »

One-Year Rankings: Not Even a Guide for Short-Term Performance

April 1996 by Mark Hulbert
Investment Newsletters Column: Comparing 1995's winners with those of 1994 reveals a disparity that tells you nothing about performance--short-term or long-term Read more »

An Interview With Victor Flores, Portfolio Manager, U.S. World Gold Fund

February 1996 by Maria Crawford Scott
Feature: Investing in gold-mining firms with a focus on smaller-sized companies. Read more »

Stock Market Valuations and Inflation: Adjusting to Reality

February 1996 by John B. Lounsbury
Feature: Using a dividend yield that is adjusted for inflation to value the market puts a different light on the market's relative valuation. Read more »

The Impact of 401(k) Plan Decisions on Accumulated Retirement Wealth

February 1996 by Charles Jones
Feature: Your decisions as to timing, amount, and allocation of contributions will have a direct impact on the total wealth you accumulate for retirement. Read more »

Incorporating an Inheritance Into Your Existing Portfolio

February 1996 by Maria Crawford Scott
Portfolio Strategies Workshop: How to integrate an inheritance into your investment portfolio. Read more »

Wrestling With Risk: A Multiheaded Concept With No Single Measure

February 1996 by Albert J. Fredman
Mutual Funds Column: How can you measure risk in a mutual fund? An explanation of the different yardsticks needed for a concept that can take many forms. Read more »

Insurance Products and the Needs of the 50-Something Individual

February 1996 by Peter Katt
Insurance Products Column: A look at the role insurance products can play in the investment needs of the fiftysomehting individual. Read more »

An Interview With Gloria Santella, Portfolio Manager, SteinRoe Capital Opportunities Fund

January 1996 by Maria Crawford Scott
Feature: Investing in long-term growth with an eye toward quality earnings. Read more »

When Less Is More: How to Increase Aftertax Returns by Doing Less

January 1996 by Rex Macey
Feature: How to improve the bottom-line return in your stock portfolio by minimizing the turnover. Read more »

Stock Dividend Information

January 1996 by Jean Henrich
Reference: The resources listed here report on dividends paid by common stocks. Read more »

Aggressive Growth Stock Funds: Examining a Rocket's Blueprints

January 1996 by John Markese
Mutual Funds Workshop: A look at the current crop of aggressive growth mutual funds: Despite their variety: all share one common trait--volatility. Read more »

The T. Rowe Price Approach to Investing in Growth Stocks

January 1996 by Maria Crawford Scott
Stock Analysis Workshop: Growth stock investing a la T. Rowe Price: Examining one well-known investor's approach to stock selection. Read more »

Index Funds and the Balance Between Active and Passive Investing

January 1996 by Maria Crawford Scott
Portfolio Strategies Workshop: Why should you consider investing index funds? A look at some of the reasons. Read more »

The Living Will--Do You Really Have One? A Look at Various Directives

January 1996 by Michael E. Leonetti
Financial Planning Column: Drawing up a living will involves more than signing a general statement of intent. An introduction to living wills and power of attorney directives. Read more »

Stock Returns and Regulatory Relief: All in All, Not a Bad Year

January 1996 by James B. Cloonan
Actions by regulators and exchanges show some promise for individual investors in the areas of buy/sell spreads for small-cap stocks and frivolous lawsuits. Read more »

The 1996 Discount Broker Survey: A Guide to Commissions and Services

January 1996 by Marie Swick
Our annual survey of discounters provides a comparison of commissions charged for a range of trades, as well as services offered by the firms. Read more »

Back to the Basics: The Fundamentals of Technical Analysis

January 1996 by Richard Evans
Technical Analysis Column: The foundation of technical analysis rests on the overall trend. A review of the basics. Read more »

Investment Characteristics of Stock Market Winners

September 1989 by Marc Reinganum
What investment attributes characterize successful stocks? A study of 222 stock market "winners" turns up some surprising results. Read more »

The Individual Investor's Guide to Investment Information

Read more »

Personal Tax & Financial Planning Guide 2006

Read more »

A Lifetime Strategy for Investing

Read more »

Personal Tax & Financial Planning Guide 2007

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The Individual Investor's Guide to Investment Information

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Personal Tax & Financial Planning Guide 2005

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Personal Tax & Financial Planning Guide 2008

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