I had a cousin who became a broker 57 years ago. He said he had a new stock and we made money on it. I was 15 and working in my father's business.
Q. What is your best investment so far?
The best investment, Progress Energy. I bought it and then it split. It's been growing ever since. My original investment has grown by about 300 times.
Q. What is your worst investment so far?
Kmart. We took a gamble on Kmart even though they were going through bankruptcy.
Q. What have you learned about investing that you think all investors should know?
I think in terms of interest earnings. Most of my portfolio are stocks and bonds that earn 7 to 9 percent interest. Stick with stocks that have a good return on the money.
Q. What do you find the most difficult thing about investing?
The biggest thing is that I'm retired. My Social Security is not enough. When I hear the market goes down under 10,000 like it did (two weeks ago), I think I want to get out of the stock market altogether. It's just a worry that your stocks are going to be worth nothing.
Q. How are you invested now?
About 75 percent in bonds and preferred stocks and some good mutual funds; rest is in speculative, 20 percent in tech stocks and 5 percent in real speculative stuff.
Q. What changes, if any, have you made in your investments in the past year?
None.
Q. Do you think now is a good time to invest?
I would say 50-50. If you really like something and you think there's good growth in it.... I think it's a good time. Just not your last penny. But money you can feel no problem with losing.
Q. Do you have a goal for your investing?
The interest I get from my investments lets me live fairly comfortably. And my (waterfront) property on St. Pete Beach is going crazy. It's tripled in value in the last three years. My goal is to hopefully leave my kids a little money.
Q. What is your biggest money concern right now?
Inflation. Hopefully, I believe, with my investments, I'll be able to keep up with inflation.
