61.   So long as our investors take ashorter-term approach to investment gains, they will always be affected byshorter-term speculative factors, which may be negative.

62.   The Walt Disney Co. swung to a net profit in the fiscal first quarter, thanks largely to a one-time investment gain.

63.   Those figures include the one-time impact of investment gains and currency losses.

64.   While Britain saw large investment gains, Austria, France and Belgium registered significant declines, reflecting changing perceptions of their attractiveness.

65.   But UBS Warburg economist Ayako Mitsui said the investment income gains in December would likely slow as the shine rubs off foreign securities.

66.   But UBS Warburg economist Miyoka Taniguchi said the investment income gains in December would likely slow as the shine rubs off foreign securities.

67.   Peter Morgan, chief economist with HSBC Securities in Japan, said the investment income gains were due to Japanese investors gradually expanding securities holdings abroad.

68.   Pre-tax profits, which include actual investment gains in accordance with new European Union regulations, are usually disregarded because of the volatile performance of investments.