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Sound Investment Advice Be It 1999 or 2000

State Financial Agency To Stay Open for Y2K

State Financial Agency

To Stay Open for Y2K

With the new millennium just days away, making and breaking New Year’s resolutions soon will be a popular pastime.

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E. Scott Miller, vice president-investments at Salomon Smith Barney’s La Jolla office recently offered some investment resolutions you can follow all year long:

– Evaluate your stock portfolio in January. Analyze the holdings in the portfolio in light of investment objectives, timeline and stage of life.

– Take the long-term view. Consider the quality of the company before investing and check its record over five to 10 years. Even a great company can have a bad year.

– Invest in a blend of securities. Reduce risk by investing in a broad range of companies in different industries.

– Keep an emergency fund. Be prepared for unexpected expenses so that you won’t have to sell stock at a loss to raise money.

– Watch tax developments. Tax bracket, investment objective and changes in tax codes can make changing an investment strategy worthwhile.

– Save time and money. Keep stocks in the street name of the brokerage, so that they can be traded quickly in an emergency without a lot of running around with paper stock certificates.

– Leave a legacy. Find out about avoiding probate, and other estate planning issues.

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Y2K Ready Or Not?: The California Department of Financial Institutions will have its offices open from 5 p.m. Dec. 31 to “at least” 5 p.m. Jan. 1 to monitor Y2K-related events.

The state Office of Emergency Services has defined the time from Thursday, Dec. 30 to Monday, Jan. 3, as the Y2K Event Period, said Jan Lynn Owen, acting commissioner of financial institutions.

All banks are required to immediately inform the department of any Y2K-related problems, she added.

The department has established a toll-free Y2K consumer line with staff available to answer questions. The number is (877) 311-3990.

Seeking Venture Capital?: A San Diego based company is changing its location as well as offering help to start-up companies searching for venture capital.

IP Equity Inc. is a venture capital firm and it just moved into new quarters at 4365 Executive Drive in San Diego. IP Equity provides venture capital and Web-based stock offering services to emerging Internet companies.

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Scholarships: The Financial Analysts Society of San Diego is offering three scholarships to those seeking education leading to certified financial adviser status.

Those interested in applying for the scholarships are asked to contact Michael Willoughby at the Department of Economics at UCSD 9500 Gilman Drive, La Jolla, CA, 92093-0508.

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