WILLIAM B. "JOE" POSTON: Part-time systems analyst, 68, St. Petersburg
By Times Staff Writer
Published June 29, 2003
Q. How did you get started in investing?
My dad was a heavy investor after World War II, so I kind of followed along his methodology and went into mutual funds in 1960. After I sold a house, I started buying Fidelity Trend and Putnam Growth.
Q. What is your best investment so far?
My best investments were war bonds (and later Savings Bonds). In 1948, I got a paper route, and I bought war bond stamps and a $25 bond for $18.75. They paid off the best. They never go up or down. I sold $9,600 worth in 1972. Those were ones from 1950-55.
Q. What is your worst investment so far?
I don't think I ever had a worst investment.
Q. What have you learned about investing that you think other investors should know?
Pay yourself first (and) get into a mutual fund or a stock, whatever you want to do, and just allow yourself to have growth for 20, 30, 40 years. I haven't touched Putnam or Fidelity in all these years.
Q. How would you describe your approach to investing?
Extremely conservative and long term. Just like banking - put your money in it and let it sit. Sometimes it works for the best, sometimes it doesn't. A lot of investors don't sell and take their losses. If you have a loss, take the loss. Kiss it off and go on.
Q. How are you invested now?
Every now and then when I get a little extra money, I stick it in U.S. Savings Bonds. That's where my tons of cash are. Right now, about 50 percent in U.S. Savings Bonds and 50 in mutual funds.
Q. Do you have an investment goal?
All I ever wanted in my life is to have enough to get by. I've accomplished that.
