Charts Put Him On Course For Bigger Profits.(THE SMART INVESTOR)(IBD INVESTOR PROFILE)

Byline: KEN HOOVER

Robert Maltbie was a Los Angeles stockbroker who wasn't making much money for himself or his clients by following the recommendations of his firm's analysts. Then he figured out how to read charts.

Today, he runs $20 million in a hedge fund and in managed accounts for his own firm, Millennium Asset Management. Last year, the 43-year-old father of four escaped with his family to Nipomo, Calif., about 200 miles north of the Los Angeles rat race.

He still combines chart and fundamental analysis to make money for himself and his clients.

During the past three years, he says, he's had an annual return of about 20%. He did it the last two years largely by short-selling during the bear market.

In the late 1980s, another broker in the Paine Webber office where Maltbie worked was carrying around chart books.

"Why are you wasting your time with that stuff?" scoffed Maltbie. Then he realized his colleague was doing better in the market than he was. LA Gear, the sneaker company, and Microsoft were among the other broker's big holdings. And they were soaring.