Common Stocks for Common Sense Investors

University of Missouri economists Mitchell and Ireland warn investors against ""in-and-out'' trading of stock market issues in an attempt to ``beat the market.'' They condemn even more strongly financial advisory services, newsletters, etc., as a ``confidence game'' whose few accurate (15%) predictions probably derive from ``pure luck.'' The way to invest, they maintain, is with calm in a ``turbulent environment,'' systematically accumulating ``buy-and-hold'' shares of sound companies in a variety of industriesTotal Investment Portfolio Planning (TIPP)with purchases made at intervals to even out share-price variations. Substantial elimination of fees and sales charges are also possible. Over the long haul, the authors predict, the trend for such a program will increase. An appended directory of companies offering direct-investment plans, including many ``blue chips,'' helps make this guide an excellent item to buy and hold. 25,000 ad/promo. (April 10)