I
Page Six
THE NEW BERN MIRROR, NEW BERN, N. C.
I'liclay, .lamuiry ID. 196K
A$ Seen in The Mirror's
SPORTS
otfViC
of Athletes
and Events
If Everett Case, who brought
big time basketball to the Old
North Slate were alive,he would
be proud of NormanSloan,N.C.
State’s present coach.
Norm played for the first
Wolfpack quint fashioned by the
Gray Fox, and you can see the
mark of Case on everything he
does to carry the State outfit to
a successful season.
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College basketball, and the
High school game for that mat
ter, was destined for a revolu
tion when Case came to Raleigh.
He was far ahead of his time in
these parts, and it took years for
Duke, Carolina, Wake Forest
and other foes to catch up.
Sloan’s ball club could use
more bench strength, but on a
given night Is capable of de
feating any team on its schedule.
In this year's first outing
against Carolina’s great Tar
Heels, he served notice that the
Wolfpack mustbe regarded ser
iously whenever it trots on a
court.
Norm had tough shoes to fill
when he succeeded Pres Mara-
vich, after that competent
gentleman departed for Louisi
ana State University. Anyone
familiar with sports headlines
knows that Pres is having a fine
year as coach of the Tigers,
thanks largely to his own son,
Pete.
When Pete was closing out his
sensational High School career
at Raleigh and Pres was still
around as Wollpack coach, the
State mentor told the Mir
ror’s editor he wanted to give
Pete a season of prep school
play but couldn’t make up his
mind about the wisdom of having
his own boy attend the college
he was coaching.
Pres ended up favoring the
father and son combination,and
the younger Maravich is burning
up baskets in theruggedSouth-
eastern Conference with his un
canny accuracy.
One can’t help but wonder
what the results would have
been, if Pres and Pete had re
mained in Raleigh.
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WINTER SCENE ■.. This placid scene, with snow-covered
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BY THOMAS E. O HARA
Chairman, Board of Trustees
National Association of Investment Clubs
Q. I became interested in
life insurance stocks and bought
at the wrong time. Should I
sell for a tax loss, or am I
foolish to sell when insurance
stocks are no doubt at or near
the bottom? Further, I do
not understand their valuation
of earnings.
A. Life - insurance - stock
prices in general right now
would seem to be closer to the
bottom than the top. If you
bought a good company when it
was overvalued — and con
sequently paid too much —
and if you have held onto it this
long, then I think you would
be making a mistake in selling
at the present market. In
fact this might be a time for
you to consider buying more
shares, rather than selling.
Since 1964 life-insurance
stocks have come down 50 per
cent, to their lowest price earn
ings ratios in 10 years. And
while this has been occurring,
the companies have been
growing. Profit factors, such
as increasing population, use of
computers to enhance ef
ficiency, no great change in the
mortality rates and a marked
improvement in the fortunes
of investment portfolios held by
the companies, are definitely
favorable for owners of life-
insurance shares.
As for judging insurance
companies’ adjusted earning,
Moody’s InvestmentServlcehas
an Interesting article on how
adjusted earnings are com
puted. You can obtain a copy
by writing to Moody’s Inves
tors Service, Inc., 99 Church
street. New York, 10007.
Q. No one could be as
uninformed about the stock
market as I am. But I would
like to learn. Do you think if
I bought the Montlily Invest
ment Plan on the New York
Stock Exchange I could learn?
I would not expect to make any
money while going throu^ the
stage of learning.
There are several ways you
can learn. A number of broker
age firms conduct classes on a
quite elemental level. You
might enroll. Or you might
check and see if there are
evening classes in investing of
fered by your local school sys
tem.
If you would prefer to do your
stud^ng privately, you can get
a limitless supply of books on
investing either from a good
public library or from a book
store. Here I would caution
you to make sure you get books
on the fundamentals of invest
ing, rather than those that em
phasize the technical or price-
movement side of the market.
After you learn the fundamen
tals, you can experiment with
the risky technical side.
Finally, I would say that you
would benefit greatly by forming
an investment club with a group
of friends or relatives. Invest
ment clubs take for granted that
everyone wants to learn more
even if some members have
been Investing for years.
Called “do-it-yourself” in
vesting, the investment club
concept allows you to determine
how much you want to put into
stocks each montli (probably $10
to $20 as a starter) and then
helps you learn about stocks as
you hear other members give
reports about stocks and as you
yourself learn how to make a
study of a stock. If you can’t
join an investment club, you
might get a National Associa
tion of Investment Clubs’ Man
ual on your own and study the
tools of Investing in it.
Have you a question about
investing? Mr. O’Hara, editor
of the monthly magazine, “Bet
ter Investing,’’ and one of the
nation’s recognized authorities,
will answer as many as possi
ble in his column or by per
sonal mail, but must limit ques
tions to those of more general
interest. Correspondents will
receive a free copy of “Bet
ter Investing.” Write to T. E.
O’Hara, National Association
of Investment Clubs, Dept. S,
Box 1056, Detroit, Mich. 48231.
Nothing is too high for the
daring of mortals. We would
storm Heaven itselfln our folly.
—Horace.
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