“Sant 'g Workshop Ln Deer =93 Tam — 5pm, 4pm — Spm Dee 24 ' Diam — 5pm Kadal Photos with Sante availible daring wore hours. Santa’ re Reindeer Deed - Jan. Theatre in the Gly ~ Deer Jana gath = gpm Aldrnatin shows on the 1/2 haar — Chrivtnas Clas - Musical Performances Dec 7 Dee 2- 5, 8 - 10, T4, 16 717,91 -99 épm - dpm 4pm - 6pm house gah — Tam dah — Tain ath — Tam Breakfyste i in hiwus fe Dee g -10 Dee 18 - 17 Dec 93 - 24 Ganta’s “Santa 's Lunches in hiwus feasthouse Dee 13 - 15 * 40:50amh - 12:3¢pm Yuletide Lunch Buffet Dee 11-15 11:3¢am and 1:56pm 11:06am and 1:50pm Dee 95 New Year's Eve Celebrations Dee 31 dpm -lam fo find out more about all eur magical Chrigtmas events, call 980-9511. Or visit our web site at “www.grouscmountain. com: Grouse Mountain ~The Peakof Vancouver rere + : an wanes eee ee BUSINESS S&P 500 unbeatable it’s worth WHETHER you are participating in the stock market through mutual funds or indi- vidual stocks, chances are you have seen quotes listed on the S&P 500 Index, which is perhaps the most widely followed index in fund investing. While the Dow Jones industrial average and the TSE 300 get the headiines, most stock portfolios and mutual fund performance are measured against the S&P 500. Mutual fund managers work to outperform it each year, however, nine out of 10 usually don’t. Standard & Poor’s Rating Services, established in 1916, is one of the world’s leading providers of independent and objective risk and credit - analysis. The S&P 500 Index isa market-capitalization weighted index that measures the performance of the mar- #103-6200 Darnley St., Burnaby 8.C. Fax: 291-6750 www.retrowindow com ket’s 500 largest based on their “market cap” — which is calculated by muluplying the current stock price bv the number of outstanding shares in the market. Each month, the S&P 500 Index stocks are picked based on size, liquidity and industry representation. What gives the S&P 500 Index such influence? The 500 stocks in the index repre- sent about 75per cent of the stock market, and because of its breadth, it is seen by many as the best measure of stock market movement. It reflects what you should get in return for investing in the stock mar- ket, though fund managers are often frustrated in meet- ing the standard. After all, if'a professional can‘t beat a pas- sive index, what's the point of paying fees for his or her ser- vices? That point has led to the growth of so-called Index Funds, which have portfolios that mirror an index. Ir’s the management expense on regular funds that make it difficult to outper- form index funds that don’t require a lot of effort from fund managers or research departnents. The average actively managed stock fund has annual expenses of about 1.3 per cent of assets, while an index fund can cost as lit- tle as 0.2 per cent. Also high- . er turnover for actively man- aged funds — 90 per cent versus 10 per cent for index funds -— triguers additional transaction costs, which act as a drag on performance. Of course, another reason index funds outperform man- aged mutual fitnds is the 10- year bull market for large-cap stocks, which have done ber- ter than most other stocks. Since big stocks represent the bulk of the S&P 500 Index and many other stocks funds have greater weightings i in smaller companies, the perfor- mance of index funds has been hard to beat. Still, some argue that actively managed funds may have an edge because they can sell stocks and raise cash to avoid a market correction. However, most stock man- agers use complicated funda- mental and technical analysis to buy and sell stocks. Most investors, managers included ev entually get burned trying to make money by picking the peak or the bottom of a market cycle. Furthermore, many managers aim the bulk of their funds’ assets toward their best guesses of market trends, which can be more lucrative than an index fund if they are right or crushing if they are wrong, — Rod Streets is'a North Vancouver resident and bead instructor at Vancouver's Swift Tiade Securities, a day trading sda and trading howe. Phone 6-46-1050; . INDOW MFG. Buy Factory Direct - . Renovation | Windows" : Supply and install. ¢ Sweaty windows « Drafty windows? © Tired of wasting money? REDUCE YOUR HYDRO BILL. _ Save up to 76% on heat loss! HENCKEL TWIN SHARP A * Simply pull through to sharpen knives : - * Coarse and fine grit © Pre-set angle for a quick, precise edge : $295 .. REG, $37.00 HENCKEL SPANISH 3PC PARING 2» © Moulded plastic handles for durability $14” .. REG. $18.00 © Create beautiful garnishes ° Dishwasher safe € EUROCRAFT 3PC SET ~~ ¢ Full tang construction ¢ Dishwasher safe © Lifetime guarantee $69” * BEG: $100.00 fae Sa apni win cies epemerenyes VISIT US ATA MALE NEAR YOU Park Royat Nox ; CAMLAN rH, WEST: VANCOUVER © 922-8801 © MALL, NORTH VANCOUVER * 988-0303