All editions

Download 2.44 Mb.
Size2.44 Mb.
1   ...   27   28   29   30   31   32   33   34   ...   37
LOAD-DATE: June 7, 2005

361 of 675 DOCUMENTS

Copyright 2005 Boston Herald Inc.

The Boston Herald
June 7, 2005 Tuesday

LENGTH: 556 words

They beat the Dow for 51 years (and counting)
BYLINE: By Brett Arends

Many happy returns to the Boston Investment Associates, one of the Hub's longest-lived private investment clubs.

When its members first began playing the stock market, Republicans controlled both ends of Pennsylvania Avenue, security fears gripped the nation and America was extracting itself from a controversial war.

That was in 1954.

A lot of water has passed under the bridge since then: booms, busts, inflation, stagflation, a savings & loan crisis, dot-com mania, one Vietnam war, two Iraq wars, housing bubbles, housing busts, a Japan panic, a China panic, deficits, surpluses and now deficits again.

But during more than 51 years, the club's dozen or so members - who meet over dinner once a month - have averaged a 9 percent annual return.

And that's while keeping about a fifth of the pool in cash, which means their equity holdings have returned just over 11 percent.

The Dow Jones over the same period: 10.4 percent, even with dividends reinvested.

And the average mutual fund? Don't ask. It's not even close.

Is there a secret?

I joined the group for dinner not too long ago, and they scratched their heads at that question.

They admitted they invest quite conservatively, and don't trade too often.

``We look for undervalued growth stocks,'' says Lloyd Glazer, the portfolio manager at Advest, and their adviser for 30 years. ``And we may hold on to them for anywhere between three and 10 years.''

Among the more recent winners: Vodafone, the London-based wireless company, and reinsurer Gen Re, which became part of Warren Buffett's Berkshire Hathaway.

One club member, Charlie Bronner, remains from the original group. He's nearly 90 now. One or two others joined not long after him. At the other extreme, three new members joined in the last year.

Full disclosure: the club rejected my strenuous offers to pay for my dinner. Eliot Spitzer take note: I had the chicken.

Boston seems to be a natural for long-lived investment clubs. The Hamilton Trust, seemingly America's oldest such group, was founded in 1882.

According to the National Association of Investment Clubs, there are an estimated 40,000 groups across America, managing perhaps $20billion.

The average club's life expectancy is only four years.

But here's a curiosity: overall, clubs seem to stack up pretty well against professionally managed mutual funds.

An NAIC survey suggests the average club made 15.9 percent a year over the past decade - well ahead of the overall market.

Sure, the survey is far from scientific and may significantly overstate the performance figures.

But as Boston Investment Associates and others show, investing through a club can turn out very well.


When you think about it, the reasons aren't hard to find.

Unlike the individual private investor, a club can only trade following a meeting, debate, and agreement.

That cuts out day trading, rash purchases and dubious ``tips,'' and severely cuts down on greed and fear.

Meanwhile, unlike the pros handling your mutual funds, club members are investing their own money. That has a way of focusing the mind.

There are also other advantages to joining a club.

For openers, it's fun.

Also, members get to spend the management ``fees' on themselves instead of some characters downtown.

The BIA usually goes out for a big annual dinner. And in 1982, they made so much money they took their spouses to London.
LOAD-DATE: June 7, 2005

362 of 675 DOCUMENTS

Copyright 2005 Boston Herald Inc.

The Boston Herald
June 7, 2005 Tuesday

LENGTH: 268 words
HEADLINE: Globe blog guru raps guild prez, eyes post
BYLINE: By Brett Arends

Boston Globe columnist Hiawatha Bray is again whipping up a storm of controversy with political accusations made on his Web log.

This time, though, instead of presidential candidate John Kerry, his target is the president of the Newspaper Guild, Linda Foley.

Bray accuses Foley of claiming, in a speech on May 13, that the U.S. military was ``deliberately murdering journalists in Iraq.''

Bray lashes the union president for making the accusations without offering any evidence. ``We have no right to lie about'' soldiers bravely fighting the war, he writes, ``slandering them even as they risk their lives for our sakes. It's reprehensible, and I won't have it.''

Bray is so angry he is launching a write-in campaign for election to the guild's executive committee.

Bray is joining a campaign against Foley that has appeared elsewhere, on other blogs and in the conservative Washington Times.

The problem is, the widely repeated transcript of Foley's remarks does not exactly bear out the accusations.

Foley said journalists were being ``targeted'' in Iraq, but did not say by whom. She merely accused the military of taking a ``cavalier'' attitude to the matter.

Still, Foley has not exactly been innocent in all this. According to Foley Gate, another conservative Weblog, in a letter to the White House last month she referred to ``worldwide speculation'' that the military is trying to kill reporters.

Neither Foley nor Bray could be reached for comment yesterday.

What the public will make of Bray's election campaign remains to be seen. From the postings on his Web site, Bray apparently enjoys 100 percent support.
LOAD-DATE: June 7, 2005

363 of 675 DOCUMENTS

Copyright 2005 Boston Herald Inc.

The Boston Herald
June 6, 2005 Monday

LENGTH: 273 words
HEADLINE: N.H. unit gets just rewards after 20-month deployment

Nearly a year after they got home from a marathon 20-month deployment in Iraq, the local reservists of the 94th Military Police Company were honored yesterday in Devens with a new award.

The 176 men and women of the Londonderry, N.H.-based unit were presented Welcome Home Warrior-Citizen Awards, an Army Reserve recognition program that eventually will be presented to all reservists who served in Iraq or Afghanistan.

``This program honors in a small measure soldiers who have willingly answered the nation's call to war,'' Lt. Gen. James R. Helmly, chief of the Army Reserve, said in a statement.

The award consists of an encased American flag, a commemorative coin and a lapel pin set for soldier and spouse.

Meanwhile, U.S. Rep. Martin Meehan (D-Lowell) yesterday in a speech at a Bedford church called for a gradual withdrawal of all U.S. forces from Iraq by 2006.

Critics have dismissed Meehan's exit plan as a ``cut and run'' strategy. But the Bay State's only member of the House Armed Services Committee, who voted for the resolution to use force in Iraq, said the current policy is ``a disaster.''

``By any measure our policy in Iraq is a failure,'' Meehan told the like-minded audience.

Meehan and Bedford resident Brian Hart, whose son John was killed in Iraq in 2003, stressed that it's possible to question the administration's Iraq policy while wholeheartedly supporting the troops.

``The worst thing we can do for these brave men and women is leave them in Iraq with a policy going nowhere,'' Meehan said.

Meehan, who visited U.S. troops in Iraq in January, argued that the $350 billion war has ``set us back'' in the war on terrorism.
LOAD-DATE: June 6, 2005

364 of 675 DOCUMENTS

Copyright 2005 Boston Herald Inc.

The Boston Herald
June 6, 2005 Monday

LENGTH: 735 words
HEADLINE: Letters to the Editor

Choosing battles

City Councilor James Kelly was quoted in support of new technology by the city of Boston to catch parking scofflaws (May 28).

``I don't want to see cars booted but I also don't want to see scofflaws,'' the quote read.

Is this the same James Kelly who refuses to abide by the city's snow emergency laws? I guess it depends whose ox is being gored, eh, councilor?

- Brendan P. Myers, Easton

Pike official responds

The story ``Pike stalls during highway merge'' (June 1) is a disservice to readers. We responded to a Herald inquiry about this issue, making it clear that we were working cooperatively with MassHighway and were voluntarily paying for half the cost of the consultant hired to look at possible efficiencies. There has been no delay in the production of the final report, which is due by the end of June. As we told the reporter, we are on target to meet that deadline.

MassHighway has personnel working full time on this issue, and as we explained to the Herald, the meetings referred to in your story were scheduled by those individuals based on their schedules.

We make every effort to stay out of the political mix of making false and misleading statements to the public via the media, and are frustrated by those who want to promulgate this myth that we are at odds with other agencies.

We respect our colleagues at city, state and federal agencies, and are disappointed by politically motivated attempts at making our neighbors forget about the great things we are all accomplishing.

- Marie Hayman, Chief of Staff, Massachusetts Turnpike Authority

Higher wage has benefits

As one of more than 50 state economists who released a statement explaining how an increase in the minimum wage can help low-wage workers and our economy, I feel compelled to respond to your editorial ``Politics rule wage hike'' (June 1).

Numerous studies support the conclusion of the U.S. Council of Economic Advisers that ``modest increases in the minimum wage have had very little or no effect on employment.'' An increase in the minimum wage will raise purchasing power and could yield other benefits such as reduced turnover and lower training costs. A minimum wage increase will also expand opportunity for low-wage workers: people who work hard, play by the rules, do the jobs that keep the state running and deserve fair wages in exchange. Rewarding hard work is good for our economy.

- Thomas A. Kochan, Co-director, MIT Workplace Center

McCain is no coward

Columnist Jay Ambrose was in rare form when he contrasted ``doing the right thing'' with ``judicial tyranny'' (``McCain's `moderation' is critical,'' May 31).

On the day after Memorial Day he accused war hero Sen. John McCain of being a coward for standing up for one of the few remaining mechanisms for half of Americans' voices to be heard. If the real cowards in his party had the guts to vote on judicial candidates by their merits rather than the dictates of a leadership that does not believe in dissent, the filibuster would not be an issue.

Tyranny depends on people who share Ambrose's sense of what it means to go along and do the right thing.

- David Gow, Belmont

Silver spoons compared

Reading columnist Howie Carr's view, you'd think that Sen. John Kerry and anyone who supported him were a bunch of rich, whining liberals who couldn't stand to have an election or two stolen from them (``If I can read your Kerry sticker, you're too close,'' June 1).

Heck, why would anyone think that? We've got a real down-home, blue collar president without a drop of blue blood in his veins, unlike Kerry. The president and his poor corporate buddies will set us on the right course - regular guys at the ranch, just snakeskin boots and Coors beer.

- John F. Ricco Jr., Middleboro

Accountability for Bush

President Bush and Vice President Cheney's claims that the Amnesty International report about abuses at Guantanamo Bay is ``absurd,'' and that the allegations were made by people ``who hate America,'' is just more of their jingoist fear mongering (``Bush calls this lie `absurd,' '' June 1).

I hope that the Bush administration will someday be called to account for their part in the death, torture and illegal detention of men and children at Guantanamo Bay and in Iraq, Afghanistan and the countries where they send so-called ``enemy combatants.''

If our freedom comes at the price of our humanity, what use is freedom to us?

- Mary-Ann Greanier, Plainville
LOAD-DATE: June 6, 2005

365 of 675 DOCUMENTS

Copyright 2005 Boston Herald Inc.

The Boston Herald
June 6, 2005 Monday

LENGTH: 254 words
HEADLINE: Obituary;

Sgt. Kurt Schamberg, 26, in Iraq combat, dad from Melrose

Sgt. Kurt Daniel Schamberg, a soldier, died Friday, May 20, in Baghdad, Iraq, from a roadside blast while on patrol near the Abu Ghraib prison.

He was 26.

Born in Warren, Ohio, he grew up in Orwell, Ohio, graduating from Grand Valley High School in 1997. His father, Thomas Schamberg, lives in Melrose.

Sgt. Schamberg enlisted in the Army in April 2003, completed basic training at Fort Benning, Ga., in July 2003 and was then assigned to the 10th Mountain Division at Fort Drum, N.Y. He was with Charley Company, 2nd Bat., 14th Infantry, 2nd Brigade. He was on his second tour of duty in Iraq since Jan. 25.

He was presented a Purple Heart by Secretary of Defense Donald Rumsfeld on April 12 for injuries sustained during a fire fight while on patrol on March 31.

Sgt. Schamberg loved to draw and paint. He also enjoyed sports, especially the Pittsburgh Steelers, politics, being with friends and family and making home movies. He had been documenting his unit's tour of duty in Iraq.

He is survived by his father and stepmother, Thomas and Joanne (Lynch) of Melrose; his mother and stepfather, Pam and Mark Lindsay of Gillette, Wyo.; two brothers, Lance of Middlefield, Ohio, and Jay of Denver; a sister, Terah of Philadelphia; his maternal grandmother, Rose Mary Gabriel of Green Bay, Wis.; his paternal grandmother, LaVerne Schamberg of Melbourne, Fla.; and several cousins.

Services were held in Orwell, Ohio, over Memorial Day weekend.

A memorial Mass will be held at 10 a.m. Saturday, June 25 at Incarnation Parish, Melrose.
LOAD-DATE: June 6, 2005

366 of 675 DOCUMENTS

Copyright 2005 Boston Herald Inc.

The Boston Herald
June 5, 2005 Sunday

LENGTH: 561 words
HEADLINE: Baseball, Mom, apple pie . . . and `Queer Eye'?
BYLINE: By Gerry Callahan

Share with your friends:
1   ...   27   28   29   30   31   32   33   34   ...   37

The database is protected by copyright © 2020
send message

    Main page