BUSINESS

CRASH WAS LEARNING EXPERIENCE

Play it cool on the stock market

PSSST! Want a hot tip? The
secret to making money in
the stock market is ... to
play it cool.

That really is no mystery.

Like most things in life, you are
more likely to succeed if you
understand exactly what you are
doing and risk no more than you
can afford to lose.

That's what several women who
took an introductory course on the
stock market discovered. The
lesson was driven home by last
fall’s crash, which occurred in the
middle of their course.

“What a great learning experi-
ence it was for them,’’ said
stockbroker Nancy McKinstry, of
Odlum Brown Limited, who has
given such courses seven times over
the past four years. (The. next
three-evening weekly program
starts April 7; phone 222-2181 for
details.)

“The women were able to buy
and sell stocks on paper, yet expe-
‘rience the fluctuations of the mar-
ket in real life.’’

Darilynn Platt, 47, who works
out of her North Vancouver home
as a textile: company sales repre-
sentative, managed to make a

: . paper profit of six per cent, despite
the: crash which saw some of the |

‘women in the course lose as much

as'60 per cent on the stocks they.

“had chosen... -
--“] had been keeping up with the
financial papers,”’ she said. ‘I

learned how knowledgeable you
must be if you want to do well.

“T used to think it was enough
just to deal with a good investment
firm. But now | realize you must
take the responsibilily to keep in-
formed, to know what's going on
even on a day-to-day basis."’

While Mary Gillies had read the
financial press from time to time,
“there were certain mysteries
about the «tock market | wanted to
clear up."’

Gillies, a project supervisor for a
company that makes mobile data
communications systems, said she
realized the importance of
“reading between the lines’
rather than ‘‘just going with the
flow.""

“I also learned how easy it is to
lose money — and that really
shook me up,”’ she said.

Lynn Thompson, 40, who mar-
kets discount coupon books,
already knew about that aspect of
the stock market.

“‘About 20 years ago, | worked
for a company that had a primary
issue of stocks,'’ she said. ‘I in-
vested $1,000 — and lost more
than half my money when the price
dropped.

“‘T suppose | took this course to
find out how I could make a for-
tune in the stock market in two
weeks. I soon learned that by the
time you get a hot tip, it isn’t a hot
tip any more.

“And after the course, when I
took a trip to Las Vegas, I saw

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that the penny stock market and
Vegas were very similar in many
ways."”

The women said they learned the
following steps to investing in the
stock market:

* Demystify the market. In-
vesting is a rational process, but
you must understand the rules.

® Learn how to read and inter-
pret business news.

© Choose quality investments,

41 - Wednesday, March 30,

go for the long term and conscien-
tiously keep track of both the in-
vestments and the overall
economic and market situations.

© Consider stock market in-
vestine as part of your total finan-

dollars

and sense

Mike Grenby

cial planning. Look at your needs,
how much moncy you have to
spend and invest, the correct mix
of various types of investments.

© Realize investing in the market
is an individua] matter. Learn

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1988 - North Shore News

from others, but base the final
decisions on your situation and
personality.

° Choose a broker with whom
you feel comfortable. It must be a
compatible, trusting relationship.
And you must both work to make
it a successful partnership.

© A hot tip is fine if you want to
play roulette and can afford to lose
the money you are gambling.

Do you have a financial or con-
sumer question for Mike? Or a
story you think should be in his
column? Please write to Mike
Grenby, North Shore News, 1139
Lonsdale, North Vancouver V7M
2H4. Mike cannot reply in-
dividually but will answer as many
of your letters as possible through
The North Shore News.

Remember to include your
phone number in case Mike needs
to contact you.

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