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Money panel

RICHARD EGAN: 48, accountant, Tampa

By Times Staff Writer
Published March 13, 2005

How did you get started in investing?

Basically, when I got out of college and started working, I got involved in (investing) with some of my co-workers who were more experienced than I was. I went to the library and found four to five blue chip stocks to start with.

What is your best investment so far?

Probably my 401(k) at work. I'm maximizing my contribution.

What is your worst investment so far?

That's easy. Probably some of those dot-com stocks during the 1998-1999 time frame. Exodus Communications would probably be the worst.

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

You really need to research a company thoroughly before you put your money into it. Rather than listen to gossip or hot tips, do your own research and be 100 percent comfortable with your investment.

How would you describe your approach to investing?

Fairly aggressive. I'm willing to take a little bit of a risk rather than sit back and wait for things to happen.

What do you find the most difficult about investing?

Knowing when to throw in the towel and realize you picked a stinker and move on to something else.

How are you invested now?

Forty percent in small caps, 30 percent in emerging markets and like 10 percent in blue chips, 10 percent in mid-caps and another 10 percent international large caps.

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

Moved more money into small caps and emerging markets because I think they're doing better.

Do you think now is a good time to invest?

Definitely. It's always a good time to invest. Companies are in business to make money, and there's enough competition to make them make money, so as an investor in a good company, your money is going to grow at a greater rate than in a CD or money market account.

What is your goal for your investing?

(I have) two children in college. Trying to get them through school and see what happens after that.

What is your biggest money concern right now?

Probably staying ahead of inflation.

Where do you get your investment tips?

I go to the library and I read Valueline. I read Investors Business Daily and the business sections in local papers. I go to CBS Market Watch on the Internet.

[Last modified March 13, 2005, 10:41:32]