1.   After the devaluation of sterling, equity holdings in continental Europe were sold and the proceeds reinvested in the UK.

2.   As the Nikkei plunges, the risk to banks is increased as their latent profits on equity holdings plummet.

3.   As the Nikkei plunges the risk to banks amplifies as their latent profits on equity holdings plummet.

4.   As the Nikkei plunges, the risk to banks increases as their latent profits on equity holdings plummet.

5.   As the Nikkei plunges, the risk to banks amplifies as their latent profits on equity holdings plummet.

6.   Banks will likely continue to fall as investors shed financial issues from their portfolios amid concern about rating downgrades, bad loans and losses on equity holdings.

7.   Because the market has had such a good run, investors may find that equity holdings are now too large a part of their portfolio.

8.   Banks, which use latent profits on equity holdings to meet international capital-adequacy requirements are particularly vulnerable to poor closing at the end of the fiscal year.

9.   But even now, some financial advisers are recommending that individuals scale back their equity holdings.

10.   Defense Secretary Donald Rumsfeld, for one, has substantial private equity holdings.