                                         771

   .      , -
         , 
        . 
      , 
, ,     .   -
,          -
    .  ,     ,
           .

 

        
 (broad-based equity funds)    28.  
1976 .   258        
   ,        
.     1988 .,      
  728.    ,    - -
        .  
 . 22.3

    ,   
       /       
 t + 1 (        ).
,        
    .  ,     -
.  55% -    ,  
-  .      -
      .     60%
-      .   -
,      60%  ,      70%  
 .       
   .    ,   40% -
           . 
        -
    .

      ,    -
,   ,    29.  :  -
 ,   1982 .,    20     
.          
,      1992 .     , 
20     ,      224  681, ..
       .  ,
20       19721982 .    -
      10      
       142  309. ,  , 
   Forbes (    1974  1992 .,  20  ),
     13%      
 ,           12,8%.

    ,    
   30.  - -
    ,     ,  
    . ,     -
         .