Word: determan
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Dates: during 1987-1987
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Nearly every investor develops a personal method or specialty. Investor Tedd Determan of Chicago, who puts most of his $1.4 million portfolio into small, fast-growing stocks, often invests in companies whose products he appreciates as a consumer. A confessed "popcorn freak," he savored the brand made by Golden Valley Microwave Foods, and so he bought the company's stock. It has gone up nearly 70% in value during the past year. In another instance, Determan was so impressed with the service at Jiffy Lube International, a franchised auto-service chain, that he bought 3,000 shares...
...Determan studies annual reports and other documents before taking the plunge, but if he has any remaining questions, he simply calls the company president. That opportunity, he points out, is one of the lesser-noted benefits of investing in small ventures. When he became concerned about an earnings downturn at Innovative Software, Determan called the chief financial officer there, who reassured the investor that the profit slump was "just a glitch." So Determan held on to the stock, which proceeded to zoom from about 10 last November to 22 now, even after a 3-for-2 split...
...line with Determan's principle, many private investors like to put their money into ventures they understand or industries in which they have unusual chances to spot a breakthrough product. Says Hugo Quackenbush, senior vice president of the Charles Schwab discount-brokerage firm: "Airline pilots, for example, may know some kind of gadget that is being made by a company that may escape the attention of the big guys on Wall Street...
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