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MUTUAL FUNDS and other institutions own about half of all common stock shares, but they account for about 90 percent of the market's daily trading volume. With their tendency to have a short-term view, institutions can create a lot of market turbulence with their trading, BetterInvesting says. Amid the ups and downs of the market, what should individual investors do? "Keep focusing on the fundamentals and invest for the long term," says the magazine, which monitors investment clubs. "There's little to be gained by trying to trade along with the institutions."

STANDING OUT as a conspicuous consumer is harder these days, now that luxury has gone mass market. "Products and services that were once the preserve of a very wealthy few - from designer handbags to fast cars and domestic servants - are increasingly becoming accessible, if not to everyone, then certainly to millions of people around the world," the Economist says. This may appall killjoy economists who condemn "luxury fever," but it also does not amuse the wealthy, whose ability to afford luxuries that others couldn't traditionally had set them apart.

IT MAY BE EASIER than you think to save money on your energy bills, Smart Money says. It offers hints from insulation touch-ups to plugging hidden drafts, along with some quick fixes that it says are surprisingly effective. For example, handwashing dishes uses more hot water than using a dishwasher, the magazine says. And choosing the air-dry function instead of heat-dry can cut energy use by 50 percent.

A NEW CHAPTER in the Jet Age is coming this year, when Fortune says superjets selling for about $1-million are expected to debut. "Three manufacturers - Cessna, Adam Aircraft and Eclipse Aviation - have developed an entirely new class of hot little plane known as very light jets, or AJLs," the magazine says. A fourth version is expected in 2008 from Embraer. Fortune says these small jets selling for $1.4-million to $2.4-million fly faster and higher, where the ride is smoother. The least expensive business jets in today's market cost $4-million to $5-million, the magazine says.

DESPITE THE UNCERTAINTY of doing business in Russia, about 100,000 small businesses were launched there last year, Fortune Small Business reports. The opportunities are in Russia's service sector, which accounts for about half the small companies, such as restaurants and movie theaters. But be careful, FSB cautions. "Red tape abounds in Russia. Starting a business is a Kafkaesque ordeal that can take anywhere from a few weeks to several months."

Compiled from Times wires and Web sites.

[Last modified January 6, 2006, 21:59:24]