Sleeping well should
ecide stock levels

SOME people thrive on
risk, the thrill of the
rollercoaster. But most
people don’t.

So should you deny your
feelings and blindly follow the
advice of the experts who tel!
you the stock market is the
only way to go for long-term
growth?

I have been watching —
and riding on — the stock
market rollercoaster for about
25 vears.

T sall get nervous when
the market plunges, even
though I know that’s the
time not only to hang on but
also to invest more money.

More Canadians today
than ever before have stock
market investments. Even if
they don’t hold individual
securities, they own mutual
funds which invest in the
market and perhaps have a
pension plan at work which
almost certainly holds stocks
and bonds.

» _ If Ottawa sticks with its

_ plan to invest more Canada
Pension Plan money in the
stock market, then everybody

- who hag or expects to collect
a CPP pension will be

involved with the market.
So we better get used to
upsetting events like Quebce
separation, the Asian meit-
down and Russian turmoil.
“These are not perilous
times,” said Leith Wheeler,
Investment Counsel Ltd., in
its report on 1998's first half.
“The uncertainties are not
greater than they usually are.
“There is always the risk

. something will blindside

investors and the market wili
hit an air pocket. But there is
always the likelihood you will
look back in six months, a
year or five years from now
and realize how well stocks
have treated you.”

Bottom line: Don’t invest
past vour sleeping point.
Decide how much risk you
feel comfortable taking with
how much of your money *

and for how long. For exam
ple, a five-vear time horizon is
irrelevant if you might need
that $5,000 or $1 50, 000 a
couple of years from now.

A simple portiolio balance
is half stacks (including the
stock-holdings of mutual
funds) and half GICs, mort-
gages, bonds and bond and
mortgage funds. Change that
ratio according to your feel-
ings and other investments
(like real estate or a business).

Then check the mix in
both portions — safer blue-
chip dividend-paying stocks
versus riskier stocks, narrow
focus mutual funds and even
penny stocks; GICs and CSBs
versus second mortgages and
junk bonds.

— Copyright 1998 Mike
Grenby

Mike Grenty is a columnist
and independent personal
financial adviser; be'll answer
questions in this column as
space allows but cannot reply
personally — contact him at
P.O. Box 50029, South Slope
R.P.O., Burnaby, B.C. V5]
5G3; e-mail mike@greniy.com
and see previous columns at
Mike’s website,
wipwgrenby.com

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