Business - The Enquirer - June 22, 1997



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E N Q U I R E R B U S I N E S S C O V E R A G E

Sunday, June 22, 1997
MONEY BRIEFING
Waterhouse tops ratings

Waterhouse is the best all-around discount broker, Smart Money magazine concludes in its annual analysis. Waterhouse leapfrogged last year's No. 1 and 2 finishers, Jack White and Charles Schwab, to claim the top spot.

The magazine ranks 21 firms on almost 200 criteria in nine categories: trading costs, breadth of products, mutual funds, extra services, extra costs, touch-tone trading, online trading, responsiveness and staying out of trouble. For the third straight year, Pacific Brokerage Services finished last in the rankings.

The top 10, and toll-free (800) phone numbers: Waterhouse (934-4410); Jack White (233-3411); Charles Schwab (435-4000); Discover (566-2273); Bidwell (547-6337); National Discount Brokers (417-7423); Aufhauser (368-3668); Quick & Reilly (533-8161); Muriel Siebert (872-0711); and PC Financial (825-5723).

Market winners use discipline

Chasing a hot stock tip from your brother-in-law or buying the latest high-flying stock are two of the more common mistakes investors make.

For a more disciplined approach, consider these tips, from the Beardstown Ladies investment club. Choose a company in an industry ranked in the top third by the business publication Value Line - available at many libraries - with:

A rating of one or two for both timeliness and safety, with total debt of no more than one-third of total assets.
A beta - a measure of the stock's price volatility to that of the overall market - between 0.90 and 1.10.
At least five years of growth in sales and earnings and projected growth of 12 percent to 15 percent the next several years.
A share price of $25 or less.
A price-earnings ratio - a security's price divided by earnings per share - less than it's five-year average.
An upside-down ratio - see Value Line - of at least 3 to 1.
A company with competent, experienced management.

Company evaluates car leases

More consumers are turning to car-buying services to ease the hassles of negotiating a new-car purchase. Now, there's a similar service for those who lease cars.

LeaseWise - (800) 475-7283 - operated by the Center for the Study of Services in Washington, D.C., will solicit bids from at least five dealers on the specific model you want and get details of the lease. Cost: $290.

Smith Barney recommends high-fliers

The best stocks to own - and the hardest to find - are so-called emerging growth companies, that is, companies with a great niche that are increasing their earnings at 25 percent annually or more.

The problem with such stocks is that, after a few years of wild profit gains, the wheels can fly off. So you need to find companies that will keep growing.

Here are four - with no guarantees, of course - from the recommended list of Smith Barney: HBO & Co., hospital information systems; Apollo Group Inc., which operates for-profit schools; Dollar Tree Stores, which "should maintain a 25 percent annual growth rate over the next five years," analyst L. Keith Mullins says; and PMT Services Inc., credit-card processing for small merchants.

Budget Rent-A-Car coupons

Budget Rent-A-Car is distributing 1 million coupon books through June 30, with up to $1,500 in travel savings.

Tom Parsons, editor of Best Fares Discount Travel Magazine, says the books include a certificate valid for up to $100 off a TWA flight within the 48 states or from the 48 states to Honolulu, San Juan or Toronto.

You get the coupon book when you upgrade any Budget rental during this promotion, or you can request it by writing to Budget Customer Values Offer, Box 4361, Lisle, Ill. 60532.