Expeditors International of
Washington, Inc., 307, 339–46
expenses/costs: controlling
ownership, 219; and convertible
issues and warrants, 419n,420,
420 n;of doing business, 317n;of
investment funds, 247, 248, 249,
251, 252, 253, 254; of mutual
funds, 376–77, 377n;of options,
421; and per-share earnings,
317 n;of research, 376–77, 379n;
and stock selection for
aggressive investors, 376–77,
377 n, 379 n;and stock selection
for defensive investors, 367; of
trading, 363n, 377 n, 379 n, 385 n.
See alsofees/commissionsFactiva, 399
“fair-weather investments,” 521
Fama, Eugene, 504
Family Dollar Stores, 216, 372
Farley, William, 317n
Fastow, Andrew, 500–501
Faust(Goethe), 415–16
favorite stocks, 247, 247n
Fedders Co., 234
Federal National Mortgage
Association (“Fannie Mae”), 110
Federal Reserve Board, 2n,19–20n,
50, 121
fees/commissions: for advice, 258,
262, 263, 263n,266, 270, 274,
274 n,275; for aggressive
investors, 145n,148–50, 148n,
149 n, 180 n;of brokerage
houses, 117, 128–29, 128n;
controlling, 219; and convertible
issues and warrants, 419n;of
investment funds, 227, 227n,
238 n,242, 246, 247, 249n,250,
253 n;and IPOs, 139n;and
market fluctuations, 200, 219;
and portfolio changes, 117; on
reinvestments, 253n;and
timing, 180n. See also
expenses/costs
Fidelity Funds, 15n,37, 63, 64, 107,
110, 125, 148n,230, 245–46, 250,
400, 420, 420n
50–50 plan, 5, 90–91, 156–57
financial analysts, 14, 264n, 498 n,
501 n;and advice, 262n,263,
264–65, 271; collective
intelligence of, 380n;consensus
opinion of, 378; as creating
valuation, 568, 570; flaw in
approach to selection by, 379;
and forecasting, 265n;functions
of, 263, 265, 265n,378; and
institutional investors, 265n;
and investments vs.
speculation, 28–29; and margin
of safety, 517; and market
fluctuations, 190, 206;
requirements for, 264; role of,
263, 280–81; senior and junior,
300; and speculation, 563, 568,
570, 574; and stock selection for
aggressive investors, 376, 378;
and stock selection for
defensive investors, 363. See also
securities analysis
financial condition: and common
stock, 293–94; and dividends,
492; and security analysis, 302,
308–9; and stock selection for
aggressive investors, 384, 385,
386, 388, 401; and stock
selection for defensive
investors, 337, 348, 349, 350,
369.See also specific company
Financial Corp. of America, 187
financial developments: major,
14–15
financial institutions/industry,
139, 269, 360–61, 411n. See also
type of institution or specific
institution
financial markets: history and
forecasting of, 1–2, 10, 24n,54,
54 n,65–79, 80–87. See alsostock
market
financial plan, 273, 278602 Index