The Board of Directors

Q: How can I find out who's on a company's board of directors?

- V.E., Amarillo, Texas

A: You can often find a list of a company's board members on its Web site. Look for links labeled something like "company information," "about us," "investor relations" or "corporate governance." You can also just call the company's investor relations department and ask.

Most annual reports will list the members of the board, often with a glossy color photo of the gang. Another option is to check out the reports that the company files with the Securities and Exchange Commission (SEC). The annual 10-K report is your best bet, and you can dig that up at http://caps.fool.com. It's a long and informative document.

Q: What are these "catalysts" that stock analysts refer to?

- H.R., Lafayette, Ind.

A: A catalyst is a factor or event that will prompt a change in a stock's value. Consider that it's best to invest in stocks trading below their fair value, as they should eventually catch up. But when and why will they do so? When analyzing a potential investment, it can be useful to figure out what catalyst(s) there are and when they might materialize, as the catalysts will help the stock become fully valued.

A catalyst for a pharmaceutical company could be Food and Drug Administration (FDA) approval of a promising new drug. One for a software company might be Microsoft's release of a major new operating system. For a manufacturer, an effective catalyst might be the introduction of an exciting new product. The end of a recession or a housing boom can also be a catalyst. Many stock analysts look for catalysts, and we investors can, too.

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