European Stars and Stripes (Newspaper) - July 29, 1990, Darmstadt, Hesse                                Page 14 the stabs and stripes sunday july 29,1990 business news funds Prosper from off beat investing a a a. D. _ j t to Tuff by Lance Ignon los Angeles times new York a in his role As chief executive of three Mutual funds Robert m. Gintel has peered into an open pit Copper mine in Arizona strolled the deck of an offshore Oil Rig in the Gulf of Mexico and driven an air conditioned tractor around a parking lot in Moline 111. Gintel likes a firsthand look at the merchandise before he buys. His around the country shopping excursions Are part of a unique investment strategy that has put the Gintel fund Gintel erisa fund and capital appreciation fund among this years top performers. According to conventional Wisdom a Mutual fund should invest in a wide variety of securities to hedge against sudden losses in any one company or Industry. But Gintel prefers to concentrate on Only a few companies leaving him and his five analysts time to thoroughly research and Monitor what they buy. And that Means occasional visits to open pit mines Oil rigs and tractor factories. Quot a a you a be amazed at How Many institutions that manage a lot of Money. Have hardly any research staff Gintel said from his office in Greenwich Conn. A you done to want to rely on a third  Gintel 62, might be called a Quot conservative  his conservative Streak prods him to know everything he can about a company before investing. And he Sticks with Well known names and avoids Start . But once he is confident that a company shows particularly Good earnings potential his Radical Side goads him to invest As much As 25 percent of a single fund in one company. This approach has led to some blunders a particularly in 1987 a and some stunning successes. In 1988, Gintell a average return was 28.7 percent compared to 14.9 percent for the average growth fund according to cd investment technologies inc of Rockville my. Last year his three funds had a 20,7 percent average return compared to a 26 percent return from the average growth fund. Through the first four months of this year Alt of Gintell a funds had positive earnings outperforming most other Mutual funds. The capital appreciation fund ranked 150th out of 1,566 funds of All types erisa was ranked 143rd the Gintel fund placed 46th, according to cd. With about 4,300 stockholders the Gintel portfolios Are no Load and open Quot ended Mutual funds. No Load Means there is no service charge for entering the fund open ended Means there is no Cap to investment. Much of Gintell a recent Success is due to big investments in Deere amp co., the Moline  farm equipment manufacturer and Phelps Dodge mercantile co., a Copper mining concern in Arizona. As did Many other companies involved with farming Deere appeared to be in deep trouble in the mid-1980s. But Gintel realized that most of its competitors had gone out of business or had been swallowed up by other firms. As Long As the company could continue to make production improvements Gintel figured that Deere would ultimately turn around. He was night. The company a Stock shot up $50 in the past three years and sold for about $75.50 last week. Today the three pm Tel funds own 550,000 Deere shares that if cashed in today would yield a profit of More than $ 12 million. Phelps Dodge the largest Domestic Copper producer was also considered a Basket Case when Gintel started investing in the company two years ago. After visiting the company a Morenci mine in Arizona Gintel realized that a new Copper processing technique and frugal minded management could turn the company Arlt moreover Gintel realized that political upheavals in Africa and Chile where so much of the world s Copper is produced were creating shortages that would mean More demand for Phelps Dodge Copper. At the same time Copper prices started increasing. The upshot is that the Gintel funds have made More than $2 5 million on 570,000 shares of Phelps All told Gintell a funds have net assets of about $222 million. ,. Despite Gintell a penchant for research and caution though there have been a few costly mistakes. In 1987, the funds took a Large position in los an Eles based called inc. And ultimately lost More than $13 5 million. He has also lost More than $6 million on preferred Stock in Crossland savings of Brooklyn n. A a a although Gintel is hoping for a turnaround there. The 62-year-old investment wizard admits that losses like these and his off Brand investment approach have made some customers leery. Quot in a not sure if our strategy attracts people or scares them away Quot he said. The Golden state shines in by John d. Mcclain associated press writer Washington a one of every six jobs created through the turn of the Century is expected to be in California reflecting the continued shift of economic activity to the Sun Belt the government has announced. A California is projected to gain 3.4 million of the 18.9 million new jobs created nationally through 2000, said the forecast by the Commerce departments Bureau of economic analysis. That would give the state 19 million jobs. A Florida and Texas Are projected to have increases of More than 1 million jobs each a to 8 million and 9.7 million respectively the department said. National employment opportunities Are expected to use 14.3 percent to 151.5 million jobs. The study projected that the fastest Job growth will be in Nevada up 31.5 percent to 847,000, and Ariz Naup 26.7 percent to 2.3 million. Those two states also should show the fastest growth rates in total personal income and population the department said. Quot the projected growth in Nevada and Arizona reflects rapid population growth and strength in their economies in part due to the continued shift in economic activity toward the Sun Belt Quot the study said. A Florida Utah California and Hawaii also Are projected to show rapid  California will continue to be the nations most populous state growing 17.1 percent to 33.2 million people. It also will be first in total personal income up 33 percent to $568 billion. Personal income will jump 46,2 percent to $21.7 billion in Nevada and 40.6 percent to $59 billion in Arizona. Total . Personal income is expected to Advance 26.2 percent to $4.11 trillion. The income projections Are adjusted for inflation and stated in terms of dollars of 1982 buying Power. Connecticut is projected to continue having the highest average per capita income rising 10.8 percent to $20,503. Mississippi although gaining 19,0 percent is expected to still be last with $10,631. The National average will be an Esti mated $15,345, an increase of 15.9 percent. Nevada a population is projected to Rise the fastest at 29.8 percent to 1,4 million. If the projection proves to be True Arizona will be next with its population rising 21.4 percent to 4.2 million. Florida would be third up 18.2 percent to 14.6 million. The National growth rate is expected to be 8.9.percent, with the nation having 268 million people in the year 2000. Populations Are projected to increase in every state except Wyoming Louisiana and West Virginia which Are expected to Post declines of 1.0 percent 0,1 percent and 0.4 percent respectively. 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