Your Money

By Daniel Eisenberg

Should Investors Tee Off?

With Tiger Woods mania driving every kid to pick up a set of clubs and hit the links, what better time to take a whack at golf stocks. That's the pitch for a new golf fund, due out this fall, that will invest in equipment, apparel makers and course developers. But before you pull a Big Bertha from your wallet, remember that Asia's woes have been a drag on industry stars like Callaway Golf and Family Golf Centers.

Follow the Market Leader

Need some cheap advice from a market expert? Judging by the just disclosed portfolio of Federal Reserve Chairman Alan Greenspan, short-term T bills are the way to go. Though Greenspan's choices reflect his desire to "avoid any conflicts of interest" and "have nothing to do with the market," it's no surprise that the notorious skeptic would invest in bonds. Caution, though, doesn't come cheap; in 1997 one-year T bills had a 6.2% return, while the S&P 500 rose 33%.

Watch Out for Downsizing

Corporate chieftains may think bigger is better, but workers aren't reaping many benefits. Instead, more employees are getting the ax because of the record number of billion-dollar mergers, according to a new report. In the past four months 13% of layoffs were merger related, and cost cutting hasn't even begun at giant proposed combinations like SBC and Ameritech. So it may be time to dust off that resume.

--By Daniel Eisenberg