<THE HARRY JONES PORTFOLIO>

Small Companies vs. Large Companies

by Harry Jones

(April 19, 1999) -- Every weekend the big newspaper talks about the stock market. In fact, the business section has its regular columnists. However, the columnists change tunes, it seems, without the writer even knowing it. I don't profess to be a great writer in my column, if you can call it that, but I know that I never change my tune about stocks.

In the newspaper about two months ago a columnist said that small companies are the way to go. He said over the long run small companies outperform large companies. But in Sunday's big paper, the same columnist talked about large companies being the way to go. Now everybody is buying large companies because of the stability they offer while small companies look troubled.

Well, of course, there are good reasons for both. Small and large farms both have good and bad points. So do companies. Everything does. Including Irv. But the good in everything makes most things worthwhile at least to some degree. I own both strong and timid horses. The kids ride the timid horse. And I own both small and large companies. Yes, the S&P 500 has some companies in it that are relatively small compared to all the giants out there. You won't hear that argument often, but it does.

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04/19/99 Close
Stock Change Close SPY -2 1/32 129.50

Day Month Year History HARRY -1.54% 0.88% 1.47% 1.47% S&P: -2.24% 0.24% 4.90% 4.90% NASDAQ: -5.57% -4.72% 6.97% 6.97% Rec'd # Security In At Now Change 1/4/99 16 S&P Depos 127.63 129.50 1.47% Rec'd # Security In At Value Change 1/4/99 16 S&P Depos 2042.00 2072.00 $30.00 CASH $0.00 TOTAL $2072.00 Yesterday Today Change S&P Depos 131.53 129.50 SPY -2 1/32

</THE HARRY JONES PORTFOLIO>

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