British retailers start online sales early






LONDON (Reuters) – British retailers have brought forward their Christmas clearance sales online in the hope that shoppers will log on to buy bargains and offset lackluster spending in stores.


Marks & Spencer launched its sale online at midday on Monday, it said on its website, while department store John Lewis said it would cut online prices when its stores close at 1700 GMT. Debenhams has already started its online sale.






Retailers in recent years have started sales online on Christmas Day, ahead of the clearances in stores from Boxing Day, but are increasingly launching their online offers before Christmas after delivery deadlines for the day have passed.


Hard-pressed shoppers have been leaving it later to buy presents in the hope that retailers would slash prices, the British Retail Consortium said.


It was forecasting that 5 billion pounds ($ 8.1 billion) would be spent in the shops on Saturday and Sunday combined, the last weekend before Christmas.


Richard Dodd, the BRC’s head of Media and Campaigns, said weekend trading had met expectations.


Christmas, ultimately once all the final sums are done, will turn out to be acceptable but not exceptional,” he said.


He said the sector expected a modest increase in cash spending against a year go, but not necessarily any significant increase in real terms once inflation was stripped out.


Many British families‘ budgets are stretched, according to a survey from Markit that showed the biggest deterioration in household finances for seven months.


Analyst Howard Archer at IHS Global Insight said the weakening in household finances could not come at a worse time for retailers, and it highlighted why many people appeared to have been careful in their Christmas shopping this year.


“The suspicion has to be that consumers will be especially keen to take advantage of genuine major bargains in the sales to acquire items that they cannot otherwise afford or are reluctant to make at the moment,” he said.


“However, we suspect that people will likely to be more careful in buying – or reluctant to buy – items that they don’t really want or need in the sales.”


($ 1 = 0.6180 British pounds)


(Reporting by Paul Sandle; Editing by Louise Heavens)


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Sarah Drew: Baby Micah Might Be a Musician




Celebrity Baby Blog





12/21/2012 at 02:00 PM ET



Sarah Drew Micah Loves Music
Michael Buckner/Getty


She may shine as an actress on television, but off screen, Sarah Drew is a singing sensation — at least around the holidays.


“Every year we do caroling, we love music so we do a big Christmas caroling party,” the Grey’s Anatomy star, 32, told PEOPLE at the March of Dimes Celebration of Babies luncheon on Dec. 7 at the Beverly Hills Hotel.


“We bring a bunch of people into our home and we rehearse and have four-part harmonies and go out and around the block.”


But while Drew and her husband Peter Lanfer have plans to continue on the annual tradition, there will be a new caroler among their crowd: 11-month-old son Micah Emmanuel.

“He’s super vocal. We have him in music classes and … he has every different kind of instrument you can imagine, like a xylophone, and drums and shakers,” Drew says. “It’s really fun. I just want him to appreciate music. He doesn’t need to be a star.”


Other than belting out his little lungs, Micah has been busy meeting all of his milestones, including “almost” perfecting his wobbly walk.


“He’s toddling along, he’s cruising. He pulls himself up on everything and cruises along,” Drew shares.


But, if left up to her baby boy, the first-time mom admits her son would much rather prefer to hitch a ride courtesy of Drew. “We just got him this tricycle that he is obsessed with,” she says. “That’s all he wants to do, ride his tricycle.”


– Anya Leon with reporting by Melody Chiu


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Predicting who's at risk for violence isn't easy


CHICAGO (AP) — It happened after Columbine, Virginia Tech, Aurora, Colo., and now Sandy Hook: People figure there surely were signs of impending violence. But experts say predicting who will be the next mass shooter is virtually impossible — partly because as commonplace as these calamities seem, they are relatively rare crimes.


Still, a combination of risk factors in troubled kids or adults including drug use and easy access to guns can increase the likelihood of violence, experts say.


But warning signs "only become crystal clear in the aftermath, said James Alan Fox, a Northeastern University criminology professor who has studied and written about mass killings.


"They're yellow flags. They only become red flags once the blood is spilled," he said.


Whether 20-year-old Adam Lanza, who used his mother's guns to kill her and then 20 children and six adults at their Connecticut school, made any hints about his plans isn't publicly known.


Fox said that sometimes, in the days, weeks or months preceding their crimes, mass murderers voice threats, or hints, either verbally or in writing, things like "'don't come to school tomorrow,'" or "'they're going to be sorry for mistreating me.'" Some prepare by target practicing, and plan their clothing "as well as their arsenal." (Police said Lanza went to shooting ranges with his mother in the past but not in the last six months.)


Although words might indicate a grudge, they don't necessarily mean violence will follow. And, of course, most who threaten never act, Fox said.


Even so, experts say threats of violence from troubled teens and young adults should be taken seriously and parents should attempt to get them a mental health evaluation and treatment if needed.


"In general, the police are unlikely to be able to do anything unless and until a crime has been committed," said Dr. Paul Appelbaum, a Columbia University professor of psychiatry, medicine and law. "Calling the police to confront a troubled teen has often led to tragedy."


The American Academy of Child & Adolescent Psychiatry says violent behavior should not be dismissed as "just a phase they're going through."


In a guidelines for families, the academy lists several risk factors for violence, including:


—Previous violent or aggressive behavior


—Being a victim of physical or sexual abuse


—Guns in the home


—Use of drugs or alcohol


—Brain damage from a head injury


Those with several of these risk factors should be evaluated by a mental health expert if they also show certain behaviors, including intense anger, frequent temper outbursts, extreme irritability or impulsiveness, the academy says. They may be more likely than others to become violent, although that doesn't mean they're at risk for the kind of violence that happened in Newtown, Conn.


Lanza, the Connecticut shooter, was socially withdrawn and awkward, and has been said to have had Asperger's disorder, a mild form of autism that has no clear connection with violence.


Autism experts and advocacy groups have complained that Asperger's is being unfairly blamed for the shootings, and say people with the disorder are much more likely to be victims of bullying and violence by others.


According to a research review published this year in Annals of General Psychiatry, most people with Asperger's who commit violent crimes have serious, often undiagnosed mental problems. That includes bipolar disorder, depression and personality disorders. It's not publicly known if Lanza had any of these, which in severe cases can include delusions and other psychotic symptoms.


Young adulthood is when psychotic illnesses typically emerge, and Appelbaum said there are several signs that a troubled teen or young adult might be heading in that direction: isolating themselves from friends and peers, spending long periods alone in their rooms, plummeting grades if they're still in school and expressing disturbing thoughts or fears that others are trying to hurt them.


Appelbaum said the most agonizing calls he gets are from parents whose children are descending into severe mental illness but who deny they are sick and refuse to go for treatment.


And in the case of adults, forcing them into treatment is difficult and dependent on laws that vary by state.


All states have laws that allow some form of court-ordered treatment, typically in a hospital for people considered a danger to themselves or others. Connecticut is among a handful with no option for court-ordered treatment in a less restrictive community setting, said Kristina Ragosta, an attorney with the Treatment Advocacy Center, a national group that advocates better access to mental health treatment.


Lanza's medical records haven't been publicly disclosed and authorities haven't said if it is known what type of treatment his family may have sought for him. Lanza killed himself at the school.


Jennifer Hoff of Mission Viejo, Calif. has a 19-year-old bipolar son who has had hallucinations, delusions and violent behavior for years. When he was younger and threatened to harm himself, she'd call 911 and leave the door unlocked for paramedics, who'd take him to a hospital for inpatient mental care.


Now that he's an adult, she said he has refused medication, left home, and authorities have indicated he can't be forced into treatment unless he harms himself — or commits a violent crime and is imprisoned. Hoff thinks prison is where he's headed — he's in jail, charged in an unarmed bank robbery.


___


Online:


American Academy of Child & Adolescent Psychiatry: http://www.aacap.org


___


AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner


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Husband sets wife on fire during fight with child nearby, police say



A Fresno man was arrested on suspicion of attempted murder and domestic violence after he allegedly set his common-law wife on fire Sunday afternoon, authorities said.


The 21-year-old man apparently "became emotional" while discussing his relationship with the woman in a car in southeast Fresno, police Sgt. Steve Crawford told the Fresno Bee. The man allegedly threw gasoline on the woman and lighted her on fire.


When police arrived, Crawford said, the woman was rolling on the ground to put out the flames. The vehicle was also on fire.


The woman was taken to an area hospital with minor injuries, Crawford said. The couple's 2-year-old boy, who was near the car when the fire began, was not hurt.


The suspect's name has not been released by authorities.


ALSO:


Full coverage: Connecticut school shooting


Rain, chilly temperatures expected for Southern California


Jenni Rivera's generosity to needy honored; memorials planned


-- Kate Mather


Follow Kate Mather on Twitter or Google+.




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Syrian Airstrikes Reportedly Kill Dozens at Bakery





BEIRUT — A Syrian warplane was reported to have conducted airstrikes that killed dozens of people lined up for bread at a bakery in the central town of Hilfaya, according to anti-government activists in the area.




The attack, and its toll, could not immediately be confirmed. A local activist in the town named Samer said he ran to the bakery soon after heard a warplane, then bombs and finally the sound of ambulances. “There were bodies everywhere,” he said, adding that he saw tens of bodies taken away in cars.


Photographs he said he took at the bakery showed bodies in a heap on a bloody sidewalk, outside a low-slung building blackened with soot and stained with patches of blood, high on the walls. Amateur video showing what activists said was the aftermath of the attack showed roughly a dozen people lying on the ground, some wounded and several apparently dead.


In one of Samer’s photograph, a man stared in shock at the scene, with his hands resting on his head, while another carried body parts. Bystanders searched for survivors under rubble from the building. Another man picked up a piece of bread, lying next to someone’s slippers.


The reason for the attack was unclear, but activists said that rebel fighters occupied Hilfaya last week as part of a broader offensive to seize territory around the city of Hama, where the government has kept tight control after suppressing protests in the city last year.


Civilians have been caught between the two sides. On Friday, rebel fighters posted a video threatening to attack Christian villages with artillery while asserting that the residents were shielding government loyalists. In the last few days, Hilfaya had come under repeated shelling from loyalist positions in a neighboring village, activists said.


The bakery was one of three in the city. When word that a flour shipment from Turkey had come in spread on Sunday, Sunday, people began lining up around noon, waiting their turn at its windows for bread after a stretch of days when the bakeries had been idled. At least three bombs fell near the bakery, Samer and other activists said.


The attack came as the international envoy to Syria, Lakhdar Brahimi, arrived in the capital, Damascus, where he was expected to meet with President Bashar al-Assad. His visit was rumored but not previously announced, signaling concerns about security as the fighting between opposition fighters and the government intensifies in the capital.


Mr. Brahimi made no public comment on Sunday, and the Syrian information minister said during a news conference that he had no knowledge of the envoy’s visit. Mr. Brahimi traveled by land from Beirut because of ongoing fighting between opposition fighters and the government near Damascus Airport, Lebanese airport officials told The Associated Press.


His visit was also likely to add fuel to the growing speculation about a deal to remove Mr. Assad from power, as rebel forces have claimed gains near government strongholds and as international aid agencies warn of a growing humanitarian crisis in the winter months.


Russia, one of Syria’s most reliable allies, has recently given signals that it is distancing itself from the Syrian president. On Saturday, the Russian foreign minister, Sergey V. Lavrov, said several countries in the region had offered Mr. Assad asylum, while adding that Moscow was not willing to mediate on their behalf.


Ellen Barry contributed reporting from Moscow, Hala Droubi from Jidda, Saudi Arabia, and Hwaida Saad from Beirut.



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Sip This! Try This Naughty Hot Chocolate for Christmas















12/23/2012 at 10:15 AM EST







Santa’s Naughty Hot Chocolate


Courtesy Bailey's


There's nothing all that hot about winter (mainly because these guys are wearing sweaters).

But Brooke Parkhurst and James Briscione, the chefs behind newlywed kitchen guide Just Married and Cooking, are changing that one sip at a time.

Whip up their adult spin on a cup of hot cocoa, which would only taste better if you were drinking it with one of the aforementioned shirtless guys.

Santa's Naughty Hot Chocolate

Serves 2

• 8 oz. almond milk
• 3 tbsp. cocoa powder
• 2 tsp. sugar
• 6 oz. hazelnut liqueur (recipe recommends Baileys hazelnut liqueur)
• 1 oz. chocolate vodka (recipe recommends Godiva chocolate-infused vodka)

Combine the almond milk, cocoa powder and sugar in a sauce pot. Bring the mixture to a simmer, and whisk to dissolve the cocoa. Stir in the liqueur and vodka, and then remove from the heat. Pour into two glasses or mugs, and garnish with marshmallow skewers.

Marshmallow Skewers

• 2 large marshmallows
• Pinch of ground cinnamon, cocoa powder and/or espresso powder
Cut the marshmallows crosswise into three equal-sized disks. Dust each piece with cinnamon, cocoa or espresso powder. Arrange the marshmallow pieces on a skewer, with the cut sides facing out. Garnish drinks with skewers and enjoy!

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Predicting who's at risk for violence isn't easy


CHICAGO (AP) — It happened after Columbine, Virginia Tech, Aurora, Colo., and now Sandy Hook: People figure there surely were signs of impending violence. But experts say predicting who will be the next mass shooter is virtually impossible — partly because as commonplace as these calamities seem, they are relatively rare crimes.


Still, a combination of risk factors in troubled kids or adults including drug use and easy access to guns can increase the likelihood of violence, experts say.


But warning signs "only become crystal clear in the aftermath, said James Alan Fox, a Northeastern University criminology professor who has studied and written about mass killings.


"They're yellow flags. They only become red flags once the blood is spilled," he said.


Whether 20-year-old Adam Lanza, who used his mother's guns to kill her and then 20 children and six adults at their Connecticut school, made any hints about his plans isn't publicly known.


Fox said that sometimes, in the days, weeks or months preceding their crimes, mass murderers voice threats, or hints, either verbally or in writing, things like "'don't come to school tomorrow,'" or "'they're going to be sorry for mistreating me.'" Some prepare by target practicing, and plan their clothing "as well as their arsenal." (Police said Lanza went to shooting ranges with his mother in the past but not in the last six months.)


Although words might indicate a grudge, they don't necessarily mean violence will follow. And, of course, most who threaten never act, Fox said.


Even so, experts say threats of violence from troubled teens and young adults should be taken seriously and parents should attempt to get them a mental health evaluation and treatment if needed.


"In general, the police are unlikely to be able to do anything unless and until a crime has been committed," said Dr. Paul Appelbaum, a Columbia University professor of psychiatry, medicine and law. "Calling the police to confront a troubled teen has often led to tragedy."


The American Academy of Child & Adolescent Psychiatry says violent behavior should not be dismissed as "just a phase they're going through."


In a guidelines for families, the academy lists several risk factors for violence, including:


—Previous violent or aggressive behavior


—Being a victim of physical or sexual abuse


—Guns in the home


—Use of drugs or alcohol


—Brain damage from a head injury


Those with several of these risk factors should be evaluated by a mental health expert if they also show certain behaviors, including intense anger, frequent temper outbursts, extreme irritability or impulsiveness, the academy says. They may be more likely than others to become violent, although that doesn't mean they're at risk for the kind of violence that happened in Newtown, Conn.


Lanza, the Connecticut shooter, was socially withdrawn and awkward, and has been said to have had Asperger's disorder, a mild form of autism that has no clear connection with violence.


Autism experts and advocacy groups have complained that Asperger's is being unfairly blamed for the shootings, and say people with the disorder are much more likely to be victims of bullying and violence by others.


According to a research review published this year in Annals of General Psychiatry, most people with Asperger's who commit violent crimes have serious, often undiagnosed mental problems. That includes bipolar disorder, depression and personality disorders. It's not publicly known if Lanza had any of these, which in severe cases can include delusions and other psychotic symptoms.


Young adulthood is when psychotic illnesses typically emerge, and Appelbaum said there are several signs that a troubled teen or young adult might be heading in that direction: isolating themselves from friends and peers, spending long periods alone in their rooms, plummeting grades if they're still in school and expressing disturbing thoughts or fears that others are trying to hurt them.


Appelbaum said the most agonizing calls he gets are from parents whose children are descending into severe mental illness but who deny they are sick and refuse to go for treatment.


And in the case of adults, forcing them into treatment is difficult and dependent on laws that vary by state.


All states have laws that allow some form of court-ordered treatment, typically in a hospital for people considered a danger to themselves or others. Connecticut is among a handful with no option for court-ordered treatment in a less restrictive community setting, said Kristina Ragosta, an attorney with the Treatment Advocacy Center, a national group that advocates better access to mental health treatment.


Lanza's medical records haven't been publicly disclosed and authorities haven't said if it is known what type of treatment his family may have sought for him. Lanza killed himself at the school.


Jennifer Hoff of Mission Viejo, Calif. has a 19-year-old bipolar son who has had hallucinations, delusions and violent behavior for years. When he was younger and threatened to harm himself, she'd call 911 and leave the door unlocked for paramedics, who'd take him to a hospital for inpatient mental care.


Now that he's an adult, she said he has refused medication, left home, and authorities have indicated he can't be forced into treatment unless he harms himself — or commits a violent crime and is imprisoned. Hoff thinks prison is where he's headed — he's in jail, charged in an unarmed bank robbery.


___


Online:


American Academy of Child & Adolescent Psychiatry: http://www.aacap.org


___


AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner


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Man killed at Mayan 'end of the world' party

About L.A. Now



L.A. Now is the Los Angeles Times’ breaking news section for Southern California. It is produced by more than 80 reporters and editors in The Times’ Metro section, reporting from the paper’s downtown Los Angeles headquarters as well as bureaus in Costa Mesa, Long Beach, San Diego, San Francisco, Sacramento, Riverside, Ventura and West Los Angeles.



Have a story tip for L.A. Now?





Can I call someone with news?



Yes. The city desk number is (213) 237-7847.






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Taliban Claim Role in Attack That Kills Pakistan Politician





PESHAWAR, Pakistan — The Pakistani Taliban claimed responsibility on Saturday for a suicide bomb attack that killed a senior politician in northwest Pakistan who was one of the group’s most vocal critics. At least eight other people were killed in the attack and more than 15 others were wounded, senior government officials and doctors at a local hospital said.




The politician, Bashir Ahmad Bilour, was a senior minister in the northwestern Khyber-Pakhtunkhwa Province, where the Taliban have a strong presence. Mr. Bilour was long on the target list of the Tehrik-i-Taliban Pakistan, an umbrella organization of the Pakistani militant groups, for publicly denouncing them and challenging their violent policies.


Mr. Bilour was coming out of a meeting of his Pashtun nationalist Awami National Party in the provincial capital of Peshawar, when the suicide bomber blew himself up, said the secretary of home and tribal affairs, Azam Khan.


Mr. Bilour had been taken to the hospital in critical condition, said Dr. Arshad Javed, chief executive of the city’s Lady Reading Hospital.


Among those killed were Mr. Bilour’s secretary and a police officer, Mr. Khan said.


The provincial information minister, Mian Iftikhar Hussain, called for immediate action against militants in the nearby tribal region of North Waziristan, the safest haven for militants in Pakistan, saying it was time to take action against all militants. “Let there be no difference between good Taliban and bad Taliban,” he said.


A security analyst, Asad Munir, a retired brigadier, said the attack would further complicate campaigning in Khyber-Pakhtunkhwa Province for a national election expected next year. He said that secular, liberal and nationalist parties would have a difficult time because they are on the Taliban hit list, and that, “Religious parties will take advantage of the situation.”


Also on Saturday, police officials in the southern province of Sindh said that a mob had tortured and killed a man accused of burning the Koran, the latest in a series of violent episodes in Pakistan stemming from allegations of blasphemy.


The killing occurred Friday in Seeta, a remote village in the Dadu district in southern Sindh Province. The village’s head cleric, Usman Memon, said charred remnants of the Koran had been found in the mosque that morning, and that the victim had been staying at the mosque alone. It is common for impoverished travelers and religious proselytizers to stay at mosques while traveling.


The man, whose name was not known, was handed over to the police and accused of violating Pakistan’s blasphemy laws, Mr. Memon said.


But as news of the episode spread later on Friday, an angry crowd gathered outside the police station and eventually forced its way in. The man was dragged out, tortured and killed, and his body was set on fire, according to the police.


Usman Ghani, the district’s senior police superintendent, said that he had suspended the official in charge of the police station and filed administrative charges against seven other officers for negligence.


He said that charges had been filed against 1,000 people believed to have participated in the mob action and that 150 people had been arrested.


Little was known about the victim or what motive he was thought to have had for burning the Koran, if he did so. Cases of violence arising from blasphemy accusations appear to be on the rise in Pakistan. Human rights groups have said that most of those victimized are members of religious minorities, particularly Christians, but Muslims are sometimes accused.


In a case similar to Friday’s, a mentally disabled man was beaten and burned to death in Punjab Province in July, also after an angry crowd broke into a police station.


Blasphemy is a capital crime in Pakistan, and it is a highly delicate and emotional issue for the deeply conservative country. Calls for repealing or revising the blasphemy laws have met with strong resistance from religious leaders, who have organized large protests against efforts to amend them. Two prominent advocates of changing the laws were assassinated last year.


Ismail Khan reported from Peshawar, and Salman Masood from Islamabad, Pakistan. Zia ur-Rehman contributed reporting from Karachi, Pakistan.



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Analysis: Apple’s swoon exposes risk lurking in mutual funds






NEW YORK (Reuters) – The nearly 28 percent decline in shares of Apple Inc since mid-September isn’t just painful to individual shareholders. It’s also being felt by investors who chased hot mutual funds that loaded up on Apple as the stock raced to a record $ 705 per share.


Apple makes up 10 percent or more of assets in 117 out of the 1,119 funds that own its shares, according to data from Lipper, a Thomson Reuters company. Those big stakes have contributed positively to each fund’s annual performance to date, with Apple still up about 32 percent for the year. It was trading at $ 527.73 soon after the opening on Friday.






But that year-to-date outcome may not accurately reflect the performance of the funds for individual investors. All told, approximately $ 4.5 billion has been added to funds with overweight stakes in Apple this year, according to Morningstar data. The majority of these dollars were invested after March and after Apple first exceeded $ 600 per share – meaning many investors have been riding down with the decline.


The $ 302 million Matthew 25 fund, for instance, holds 17.4 percent of its assets in Apple, according to Lipper. The fund’s 31.9 percent gain through Thursday makes it one of the top performing funds for the year.


Most of its Apple shares were bought years ago at a bargain basement price of about $ 125 per share. But $ 158.9 million of the fund’s assets – or 53 percent – were invested after the end of March, when Apple was trading near $ 615 per share, according to Morningstar data.


For those investors that bought after March, all that concentration in Apple hasn’t led to a stellar gain but rather a drag on the portfolio. Someone who invested in Matthew 25 in early April has seen the value of the fund’s Apple stake fall about 19 percent, while someone who invested at the beginning of September has watched that outsized Apple stake drop 27.2 percent.


In turn, the majority of the fund’s investors have reaped a much more modest performance than its year-end numbers suggest. Since the end of March, the fund has gained 6.7 percent, according to Morningstar data, far less than its 31 percent year-to-date gain and about two percentage points more than the benchmark Standard & Poor’s 500 index.


Since, September the fund is down nearly 3 percent through Thursday’s close, compared with a 1.1 percent decline in the S&P 500 in that period.


The impact of Apple’s falling stock price shows some of the drawbacks of portfolio concentration, experts say. These stakes can leave the funds overexposed to the ups and downs of one company – counter to what most mutual funds are supposed to do for investors.


“Any time you get over 10 percent of the portfolio in one company it’s a red flag,” said Michel Herbst, director of active fund research at Morningstar. Many fund managers do have risk management rules that prevent them from devoting more than 5 percent to 6 percent of their portfolio to any one stock, he said.


Then again, some funds purposely invest in just a few stocks. Mark Mulholland, the portfolio manager of the Matthew 25 fund, said that taking concentrated positions in companies is the only way to beat an index over longer periods of time.


‘RIGHT-SIZING’ PORTFOLIOS


Along with concerns about iPhone sales in China and tax-motivated selling among people who want to avoid potentially higher capital gains taxes in 2013, the wide fund ownership of Apple may be a factor in the size of the stock’s recent declines, fund managers said. In addition, with so many funds already heavily invested in the high-priced stock, there may be fewer marginal buyers available to push prices up again when shares begin to dip.


“The stock didn’t go from $ 700 to $ 520 because people didn’t like the new iPad. It’s become a favorite short of hedge funds because they know they can get in on this,” said Mark Spellman, a portfolio manager of the $ 300 million Value Line Income and Growth fund with a small position in Apple.


Short interest in the stock rose to 20.6 million shares at the end of November from 15.1 million shares at the end of September, according to Nasdaq.


“Some of my competitors have 12 percent of their assets in Apple, which I think is ludicrous”, said Spellman, who said the company is no longer trading on its fundamentals.


Sandy Villere, who has a 2.5 percent weighting of Apple in his $ 276 million Villere Balanced fund, said that some mutual fund managers are selling shares because of the over-weighting.


“Right now many people who did take huge overweight positions are right-sizing their portfolios to get it in line with their regular weightings,” he said.


Still, some bullish investors see the stock’s recent declines as a buying opportunity.


Mulholland, the Matthew 25 portfolio manager, continues to say that shares should be priced at over $ 1,000 per share based on his valuation of the company at 10 times enterprise value divided by earnings before interest, taxes, depreciation and amortization (EBITDA). Apple trades at about 7 times that figure now.


Wall Street analysts’ average price target as of Thursday is $ 742.56, according to Thomson Reuters data. But Mulholland is happy to be more bullish than his peers.


“I’m glad that I’m able to get it at these prices,” he said.


(Reporting By David Randall; Editing by Jennifer Merritt)


Tech News Headlines – Yahoo! News





Title Post: Analysis: Apple’s swoon exposes risk lurking in mutual funds
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