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Chris Kinnas
Investment Advice
Where in the world are
good investment
opportunities?
Back in first grade or so,
you learned that U.S. terri
tory ended where Mexico’s
or Canada’s began.
Geographically speaking,
that is still true. But when
it comes to investing, you
don’t have to remain within
U.S. borders - because you
can find opportunities any
where in the world.
This fact shouldn’t sur
prise you. After all, we all
buy a great many products
produced outside the U.S. -
and the companies making
those items are likely listed
on a stock exchange some
where. But there are a lot of
foreign companies. How can
you know which ones offer
the best investment poten
tial? And when you buy
shares of international
stocks, is there anything
special you need to know?
Before investing in global
equities, you may want to
work with an investment
professional - someone with
the experience and research
capabilities necessary to
evaluate investment oppor
tunities in an unfamiliar
environment. But, whether
you work with someone or
not, keep these points in
mind:
• Special risks - Every
investment - no matter
where it originates - carries
some type of risk. But if
you’re evaluating a foreign
stock, you have to consider
the usual risk factors -
strength of management,
competitiveness of prod
ucts, etc. - and then look at
some special risks, includ
ing considerable changes in
market value, lack of liquid
ity, political instability, cur
rency fluctuations, econom
ic climate, foreign taxes and
differences in financial
reporting standards. (Talk
to an investment profes
sional to learn about other
potential risks associated
with international invest
ing.) As you’ll notice, most
of these elements share a
high degree of unpre
dictability, so you can’t plan
for them in your assessment
of a foreign stock’s overall
risk. But you can at least
factor in these uncertainties
when making investment
decisions.
• Diversification - Some
investment principles are
universal - and diversifica
tion is certainly one of
them. By investing in for
eign stocks, you can help
diversify a portfolio that
may be exclusively devoted
to U.S. companies. But even
within your global stocks,
you can diversify - by com
pany, industry and country.
This last item is particular
ly important; if a country is
going through some type of
turmoil, the effects can drag
down the entire economy
and all industries.
• “Hot” regions - Every
so often, a particular region
grabs the attention of mar
ket watchers. The Pacific
Rim, Latin America,
Western Europe - all have
taken their turns as “hot”
regions in which to invest.
However, by the time you
get around to investing in
these areas, they may
already have begun to cool
off. And, in any case, a
“hot” region does not guar
antee a sizzling investment.
Evaluate special risks and
See KINNAS, page 9A
TUESDAY,
JUNE 14, 2005
WR Ford hosts chamber function
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Businesspeople partake of the spread at the recent Warner Robins Area Chamber of
Commerce Business After Hours event sponsored by Warner Robins Ford Lincoln
Mercury.
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Georgia Rep. Larry O’Neal listens to Anise Ochs at the recent Business After Hours
event sponsored by Warner Robins Ford Lincoln Mercury.
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(From left) Mary Wellington, Galleria Branch manager for Suntrust Bank; James
Rockefeller of the Rockefeller Law Center; and Shane M. Spells, assistant vice presi
dent for private client services for Suntrust Bank; chat during the recent Business After
Hours event sponsored by Warner Robins Ford Lincoln Mercury.
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Elaine Goggans (left) accepts a plaque of recognition from Frank Feild, president of the
Warner Robins Area Chamber of Commerce, during a recent Business After Hours
event at Warner Robins Ford Lincoln Mercury. Goggans was honored for organizing a
successful picnic for family members of deployed military personnel on behalf of the
chamber’s Military Affairs Committee.
Business
fraditional leadership
I’ve been promising p.
column that addresses
“servant leadership.” So
why an article on tradi
tional leadership?
To appreciate servant
leadership, it’s helpful to
contrast the concept with
something more familiar.
I want you to consider
how you might improve
your leadership behav
iors. Don’t conclude too
quickly that “I’m OK -
there’s no need for me to
think about this servant
leader concept.”
Many leaders think of
their positions as “com
mand and control”
authority. They give the
orders. They equate lead
ership with power - the
power to create action
plans, the power to dele
gate the less desirable
aspects of work to some
one else, and the power to
distribute rewards.
Traditional leadership
is all about looking good.
Most traditional leaders
would correct me and say
it’s about making the
organization look good.
The operations have to
look good to customers, of
course, or they will take
their business elsewhere.
Results have to look good
to the owners, too,
whether they be stock
holders or private individ
uals.
And everything has to
look good to the “higher
ups.” Especially the high
er ups - they’re always
evaluating, so you never
want things to look bad to
the higher ups.
Having to look good all
the time leads uninten
tionally to some self-pro
tective behaviors.
Sometimes leaders get
creative with reporting
information, giving it a
look-good “spin.” To make
sure things are done on
time and in just the way
the leader wants, threats
associated with the poten
tial negative conse
quences seem to work (at
least in the short term).
To overcome this ten
dency toward intimidat
ing behavior, many lead
ers opt for a nice-guy
alternative. They become
benevolent dictators.
Everyone is reminded
periodically where the
power lies, but these lead
ers make sure folks know
how compassionately
humane they are. They
don’t want to look bad in
the eyes of the people
doing the work. After all,
where would they be if all
those folks decided to
leave?
Assessing Your
Leadership Skills
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Dennis Hooper
. . . even greater things
dhooper2@juno.com
Many organizations
function quite adequately
under traditional leaders.
When the organization
looks good, many leaders
remind folks of the skill,
creativity, or tenacity
required to make all this
happen. The leader gets to
claim the credit, right - at
least on behalf of the folks
who helped create the
good results, right?
Traditional leaders are
not intentionally self
serving. It’s not their
focus to look out for them
selves. That’s just the way
we human beings are -
it’s human nature. We
make choices. It’s not our
fault that we usually
choose to make ourselves
comfortable - and to look
good in the process!
The way many leaders
make things look good is
to keep a short leash on
delegated projects. Be
very specific in directing
how things should be
done, then look over peo
ple’s shoulders to make
sure they aren’t messing
up the process. And since
most people will take
advantage of every oppor
tunity, you had better be
reluctant to bend the
rules for any special
exceptions.
So how does any of this
relate to “The Shoeshine
Man,” the “servant lead
ership” devotional writ
ten by John Fischer that I
quoted two weeks ago?
It’s clearly a contrast.
Instead of the leader
being the shoeshine man,
this description has the
leader as the well-dressed
“suit” on the throne.
Until next week, I ask
you to consider if you’ve
known anyone like I’ve
described here. Then
think about what the
alternative might be. A
servant leader has a very
different outlook from
that described above. I
hope that some assump
tions are revealed to you
as you ponder. See you
next week!
F. Dennis Hooper
Certified
Leadership Development Coach
Building leaders and
organizations of excellence
(478) 988-0237 dhooper2@juno.com
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