Looking over Asia from a Colorado Peak

By David R. Francis, writer of The Christian Science Monitor | The Christian Science Monitor, June 28, 1999 | Go to article overview

Looking over Asia from a Colorado Peak


David R. Francis, writer of The Christian Science Monitor, The Christian Science Monitor


From his hillside home and office in Evergreen, Colo., money manager Anthony Cragg looks upon 14,500-foot Mt. Evans.

"I have a wonderful view," says Mr. Cragg, speaking from his home, 8,700 feet above sea level.

Cragg must figuratively see much further - as far as Asia. He's the stock picker for Strong Asia Pacific Fund, a fund whose shares have nearly doubled in value since September. Investors, looking at reports by such mutual-fund analysts as Morningstar and Lipper, have noticed the outstanding performance of Cragg's fund and other funds invested in Asia. They are putting money into Asia again. Strong Asia Pacific has assets of $82 million now, up from $17 million last autumn. Asia funds are enjoying a ride back from the stock-market dive in Japan, Thailand, Indonesia, Singapore, Malaysia, and Hong Kong and other Asian countries in 1997 and 1998. "They were tough years," Cragg says. His fund's shares plummeted 31 percent in 1997 and 3.1 percent in 1998. Ready for turnaround By the first half of 1998, Cragg had 35 percent of his fund's assets in cash - an unusually high cash level for a mutual fund. "It was a time to keep your head down and try to preserve capital," he says. But last summer Cragg figured many Asian stocks were priced at "unsustainable low levels - almost bankruptcy levels." So in August and September, he put his cash back into stocks and was fully invested by October. "It paid off," he says. His fund's shares were worth $4.50 last September. They are about $8.60 today. Cragg argues that the jump in Asian stocks in the past six months is only "the first leg of a very important move." He expects further gains when more investors, including global and international mutual funds, reallocate a bigger proportion of their portfolios into Asia - bailing out of a slumping Europe. Now, Cragg says, Japan is "just beginning to get its economic act together." And other Asian nations, South Korea, Thailand, etc., are rebounding. These smaller economies are like sports cars - quick to turn around, says Cragg. So he has his portfolio overweighted in these nations - 13 percent, for instance, in Singapore. William Rocco, a Morningstar analyst, is more cautious about Asia funds. He describes an investment in them as "aggressive," that is, rather risky. Stocks cost more than they did last August. That gain may be hard to replicate, he says. Much depends on whether Japan takes more steps to restructure its corporations and revive its economy. Mr. Rocco suggests most investors may be better off putting a portion of their portfolio in an international fund, which likely will have a portion of its money invested in Asia. This avoids the "timing" problem of when it is best to invest in Asia. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Looking over Asia from a Colorado Peak
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.