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CAMPUS AND AREA
Group pools money for market clout
By LAURETTA SCHULTZ Staff Reporter
Thirty-five students are getting first-hand experience at investing thousands of dollars through the KU Investment Fund.
Me Gannon said he thought it would be neat to pool some money to play the game.
John McGannon, founder of the group and one of five managing partners, said yesterday that he came up with the idea last spring, and the first investment was made in March.
"It only takes $100 to join the group, and a person can do a lot of things he could never do with just $100." McGannon said.
SO FAR, THE INVESTMENT
group, which has formed a legal partnership, has made three investments. The first cleared a profit; the second is fairly stagnant; and the third is losing money at the moment, said McGannon, a business and third-year law student.
To join the partnership, the students, mostly graduate students in business, had to invest between $100 and $500, McGannon said. Most of the students contributed $100, but some invested as much as $400.
"Usually it takes $200 to $1000 to join an investment group." McGannon said. This is more realistic for students, and the money that is pooled gives them a chance to take some aggressive positions in the investment markets.
A $100 investment gives the investor 10 shares in the partnership and
10 votes when the group votes on proposals to invest in an area, McGannon said.
"IT TAKES A TWO-THIRD VOTE for the group to decide to invest in something," he said. "Students research a possible investment, present the information they find, and everyone asks them to do it. It is when they are trying to decide if something is a good investment."
Anita Jacob, El Dorado senior, who is a member of the group, said, "Most of us have had some sort of investment class. So we can figure out how to research stocks to find a good deal."
Investors sign a five-page agreement to join the partnership. McCormick will be present.
"THE AGREEMENT MAKES us a
legal partnership," he said. "It also assures the investor he can't lose more than he invests. We can't borrow money to invest with, which would increase the investors' risk of loss."
"When we get 100 shares of the stock, we'll sell options on it," he said.
To sell an option means the stockholder sells the right to buy or sell their stock to a third party if the stock reaches a certain price.
The group is now in the process of buying shares of stock in the Financial Corporation of America, McGannon said.
"In effect, you're betting the stock won't reach that price and making money by selling the options," McGannon said.
KU professor makes Polynesia topic of books
By ERIKA BLACKSHER Staff Reporter
On a cold, wet New Jersey day he made a bet with his roommate. The goal was to see who could get to Tahiti first.
The Princeton University sophomore wrote a letter to General Foods proposing that they send him to the French Polynesian island to study Tahitians and determine in what would be most marketable in Tahiti.
Allan Hanson, professor of anthropology at the University of Kansas,
didn't get to make any recommendations about the ideal Cheerio. But he did make it to Tahiti first. Hanson spent a summer in Tahiti as the official interpreter for the high court of French Polynesia.
HANSON'S SUMMER IN Tahiti insignificated his interest in Polynesian studies, which over the past 25 years have been funded by five books including this two year
Hanson was also the consultant for an article in the October issue of National Geographic. "The Maori at Home in Two Worlds," written by Yva Matiuki and John Eastcott.
1976 with his wife, Louise Hanson,
sparked the couple's interest in the
Maori culture, he said. Maori's, the
Zealandese, date back to about 800 A.D.
The first book inspired by the trip was "Counterpoint in Maori Culture," published in November 1983. Both Hans wrote the book, analyzes the customs and rituals of the Maori people from 1769 to 1850.
"THERE'S A LOT OF strange stuff about the Maori's," he said. They were cambials. "They sat around eating each other a lot," he said.
Although vast literature on the Maori culture exists, Hanson said, a book that attempts to pull all of the cultural aspects together had not been published for 25 years.
Also, the location of their sacred acts was sometimes unusual, he said. "Many religious rituals took place at the village latrine."
Page 6
The Hansons also wrote "The Art of Oceania: A Bibliography," published last month. The bibliography, which took the Hansons four years to complete, is the first reference book on visual arts of the Pacific.
A yearlong trip to New Zealand in
THEIEVES KICKED OPEN the rear door of Ernie's Barber Shop. 727 Massachusetts St, and stile 15 pairs of scissors, six combs, three clippers and $900 worth of sirlin steak sometime between 5 p.m. Friday and 8 a.m. Saturday, police said yesterday. The steak was stolen from a deep freeze in the back of the barbershop. The total value of the stolen goods was $1.280.
AN AM-FM CASSETTE STEREO, a cassette case, 24 cassettes, a calculator, a chrome wheel hub and $3.50 in change were stolen from a car in the upper level of Gertrude Sellars Pearson and Corbin halls' parking garage and 10.30 a.m. Sunday police said. The total value of the stolen articles was $483.50.
AN AM-FM CASSETTE STEREO valued at $250 was stolen from a car in the upper level of GSP and Corbin hills' parking garage between 12:05 a.m. and 1:30 p.m. Sunday, police said.
TWO SPEAKERS VALUED at $155.20 were stolen from a car in the upper level of GSP and Corbin halls' parking garage between 8:30 p.m. Saturday and 9:02 a.m. Sunday, police said.
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