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Money panel

JAMES DACOSTA: 57, building inspector, Palm Harbor

By Times Staff Writer
Published February 6, 2005

How did you get started in investing?

Started 25 years ago with an IRA. About three years ago, I stopped using a broker and went on my own.

What is your best investment so far?

Probably, my best investment has been in the Nasdaq 100.

What is your worst investment so far?

Single stocks. I keep tight stocks. I cut my losses really quick. I was very disappointed in mutual funds.

What have you learned about investing that you think all investors should know?

I think that education goes on forever. They have to get educated. They have to be aware of how the market works. Probably, the best advice would be to trust yourself and not pay attention to Wall Street noise. You really have to learn to read a chart.

How would describe your approach to investing?

Semi-conservative. I have certain portions of my portfolio that are very conservative, and I have others that you take a little bit bigger risk so you're not putting everything into one basket.

What do you find the most difficult about investing?

Staying up with it. You have to stay up with it on a daily basis. If you have stocks, you need to monitor them on a daily basis. There is software that does that easily.

How are you invested now?

About 50 percent in stocks, about 25 percent in index funds and the rest in bonds.

What changes, if any, have you made in your investments in the past year?

I found out you can make money quicker if you short a stock - you can make money on the way up and on the way down. You're taking an educated position.

Do you think now is a good time to invest?

Sure, you can make money up and down. Right now, the stock market is in a trading range. It goes up and down in a range. For the market to really move, it has to break out of that range. You can make money either way.

What is your goal for your investing?

I want to be able to retire when I'm 66.

What is your biggest money concern right now?

Probably, retirement funds.

Where do you get your investment tips?

I have a software package on my computer and can write my own PCF (Personal Criteria Formula). I go to Yahoo Finance quite often.

[Last modified February 6, 2005, 00:21:17]