Beating the Street (48 page)

age, investments and,
50
–51

airline industry,
184
–86

Alliance Capital Management,
276

Allied Capital Advisors,
302

Allied Capital I,
261

Allied Capital II,
260
–62,
302
,
312
–13

Allied Corporation,
313

Alpert, Mark,
267

American Savings Bank,
212

amusement parks,
225
–26,
299
–300

analysts, research by,
104
,
106
–7

Ashton, Harris J.,
169

assets:

     hidden,
236

     high-risk real-estate,
202

     nonperforming,
202

Au Bon Pain,
282
,
283
,
304

auto industry,
112
–15,
118
–20,
240
–244,
302
–4,
309
,
319

backing up the truck,
272
,
283

bad news, stockpicking and,
39
–47,
55
,
132
–33,
306
–7

balance sheets,
169
–73,
237
,
306

Bandag,
186
–87

Bank of New England,
30
,
139
,
224

banks, Fannie Mae vs.,
266
–67

bank stocks,
94
–99,
137

Barmeyer, Jeff,
104

Baron, Ron,
37
,
38

Barron's
,
40
,
209
,
272

     indexes reported in,
65
,
67

     Roundtable of,
19
,
36
–44,
142
,
147
,
308
,
310
,
311
,
315

     21-stock pick for,
20
,
140
,
284
–304

bear markets,
68
–69

Beckwitt, Bob,
52
,
55

Berkshire Hathaway,
92

Bernazati, Albert,
24
–25

Better Investing
,
35

Bialach, Greg,
29

Biggs, Barton,
37
–38

blended funds,
57

Bob Evans Farms,
280

Body Shop,
154
–59,
288
,
290
–91,
314
–315

bond funds:

     bonds vs.,
46
–58,
80
–81

     interest rates and,
56
–57,
276

     municipal,
277
–78

bonds:

     bond funds vs.,
46
–58,
80
–81

     corporate,
56
–57

     government,
56
–57,
80
–81,
110
,
121

     stocks vs.,
15
–18,
45
,
49
–56,
80
–81,
111
,
112
,
307

     yields of,
110

book value,
169
,
201

borrowing, lending and,
267

Boston Celtics,
222

Boston Globe
,
70

brainpower,
306

Brinker, Norman,
282

Bristol-Myers Squibb,
65
,
142
,
146

British Telecom,
257
,
258

Buffett, Warren,
58
,
92
,
141
,
197
,
272

Burkhead, Gary,
7

Burlington Mall,
150
–52,
154
,
283
,
291

business cycles,
46
,
133
,
307

buy-and-forget strategy,
284

buying back shares,
210
,
211
,
227
,
254
,
271
,
274

California, investment in,
312
,
320

callable debt,
274

Calloway's Nursery,
168
,
175
–76,
293
,
313
–14

Campeau, Robert,
151

can-making industry,
189
–90

capital appreciation funds,
62
,
64
,
84
–85

     eclectic holdings of,
85

     stockpicking and,
67
–69

     
see also
Magellan Fund

capital markets,
247

Cardillo, David,
30

carpet industry,
191
–93

Carver, Martin,
186

Casey, Warren,
99

cash flow,
228
,
230
–31,
238
–39

cash-in-the-drawer rebate,
215
–20

Castiglioni, Andrew,
29

Cedar Fair,
148
–49,
222
,
225
–26,
299
–300,
316
,
318

Cerundolo, Guy,
82

Charles Schwab data base,
25

chart books,
147
,
308

Cherokee Group,
136

Chili's,
153
,
154
,
281
–82

Chrysler,
83
,
112
–15,
118
–20,
121
,
129
,
139
,
241
,
243
,
303
–4,
319

Cissone, Lou,
298
–99

Clearly Canadian,
153
,
154

closed-end funds,
7
–8,
73
–74

CMS Energy,
248
,
253
–55,
297
–98,
314

Coast Savings Financial, Inc.,
312

Coca-Cola Enterprises,
149
,
157
,
308

Colonial Group,
275
–78,
297
,
313

Columbus, Ohio,
183

commercial loans vs. equity,
213
,
214

commercial real estate,
211

Congoleum,
86

Congress, U.S.,
301
–2

Connelly, John,
190

Consolidated Edison,
246
,
247
,
249

Consumers Power of Michigan,
248
,
253
–55

convertible funds,
72
–73

Cooper Tire,
187

copper market,
234
–39

corporate bonds,
56
–57,
73

Corporate Economist
,
241

country funds,
74
–81

     in Europe,
74
–77

     fees and expenses of,
76

     information and,
76
–77

     in Japan,
77
–80

     managers of,
76

     overpriced stocks in,
76

     research and,
77

Cracker Barrel,
88
–89,
281
,
282

crisis management, utilities and,
246
–247

Crown Cork & Seal,
189
–90,
211

cyclicals:

     investment in,
108
,
139
,
233
–34,
266
,
302
–4,
311

     p/e ratios of,
233
–34

     recessions and,
112
,
234

     utilities as,
246
–48

Dahl, Bob,
232

Dalton, Ga.,
192

Danoff, Will,
104
,
118

data bases, for stockpicking,
24
–25

Datamation
,
191

Davis, Don,
231

DeLuca, Carlene,
102
,
130

Digital Equipment Corp.,
133

Dillard,
188
–89

Dillard, William,
188
–89

Dillard, William, II,
188
–89

direct mutual-fund plays,
275

disaster, utilities and,
246
–47

discount clubs,
117
–18

diversification, as hidden asset,
236

dividends:

     interest vs.,
49
–51

     of MLPs,
222
,
224

     of S&Ls,
201

DiVincenzo, Vinnie,
177
,
180

Domolky, George,
104

Donaghue, William,
185

Dorfman, Dan,
113
,
114

Dorney Park,
300
,
318

Doulton, Bettina,
104

Dow Jones,
36

Dow Theory Fund,
99

Dreyfus,
275
,
276
,
277

Drogell, Birgitta,
123

Drogell, Ingemar,
123

Dunkin' Donuts,
279

E/A (equity-to-assets) ratio,
201

Eagle Financial,
204
,
206
,
214
,
294
,
320

earnings:

     country funds and,
76

     of MLPs,
222

     penalizing of,
230

     phantom,
230

Eastman Kodak Company,
284
,
287

Eaton Vance,
275
,
276
,
277

economy, U.S. vs. foreign,
75
,
307

Electrolux,
124
,
128

Ellison, Dave,
200
,
296

emerging growth funds,
63
,
65
–67,
81

Entergy,
245
,
246
,
247
,
250

Envirodyne Industries,
105
,
136

EQK Green Acres,
149
,
222
,
223
–25,
318

Equitable Life Assurance Society,
223

equity, commercial loans vs.,
213
,
214

equity funds, interest rates and,
276

equity-to-assets (E/A) ratio,
201

Esselte,
124
,
128

Essex Fund,
84
,
99

Europe:

     country funds in,
74
–77

     GM divisions in,
244

     overpriced stocks in,
76

     research in,
77
,
122
–28

Even Bigger Picture,
45
–47,
112
,
270

expansion,
159
,
180

Faber, Ed,
178
,
293

Fannie Mae,
86
,
129
,
130
,
135
,
149
,
188
,
263
–74,
304
,
312
,
319
–20

     banks vs.,
266
–67

     Congress and,
301
–2

     and fear by association,
273

     Great Correction and,
139
,
270
–71

     interest rates and,
264
–65,
266
,
274

     lending standards of,
269

     liquidity of,
264

     1992 price of,
274

     privatization of,
264

     refinancing and,
269

     Texas mortgages and,
268
,
269
,
270
,
271

fear factor,
55
,
273

Federal Home Loan Bank,
296

Federal Home Mortgage Corporation (Freddie Mac),
265
–66,
272
,
301

Federal National Mortgage Association,
see
Fannie Mae

Federal Reserve Banks,
57

fees and expenses,
56
,
57
,
58
,
69
,
76
,
99

Fentin, Rich,
103

FFOM (First Federal of Michigan),
295
–97,
302
,
304

Fidelity Capital Fund,
83
–84

Fidelity International Fund,
83

Fidelity Magellan Fund,
see
Magellan Fund

financial stabilization, of utilities,
247

Finestone, Kari,
104

First Atlanta Bank,
95

First Essex Bancorp,
204
,
213
,
214
,
295
,
320
–21

First Federal of Michigan (FFOM),
295
–97,
302
,
304

First Federal Savings & Loan of Kalispell,
206

flying off the radar scope,
117

Food Lion, Inc.,
28
–29

Forbes
,
188

Forbes
Honor Roll,
68
–69,
74

Ford Motor Company,
118
–19,
121
,
129
,
135
,
241
,
243
,
303
–4,
319

forecasts,
307

foreclosures,
202
,
212
,
213
,
270
,
271