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ERNEST LIFLAND: 60, sales associate, Seminole
By Times Staff Writer
Published June 19, 2005
How did you get started in investing?
I started when I was in college (in the mid '60s) taking some investment courses. I just started to take my lumps like anybody else.
What is your best investment so far?
I've always done well with the utilities, taking advantage of stock splits, and I've done well with the oil stocks, now especially.
What is your worst investment so far?
I took a little bit of a hit with high-tech stuff a few years back. I even didn't like what happened with IBM.
What have you learned about investing that you think all investors should know?
Research, research and more research. I can't stress enough that everybody ought to know what they're talking about.
How would you describe your approach to investing?
The older I get, I'm becoming a little more conservative. I'm not averse to taking a risk in an individual stock.
What do you find the most difficult about investing?
Knowing when to sell. That probably is the hardest thing for anybody. You have to set your limits and take your profits and losses as they come.
How are you invested now?
Probably about 75 percent in stocks and 25 percent in bond funds and balanced funds.
Do you think now is a good time to invest?
It's always a good time to invest. If you do it stock by stock, there's always a stock out there ready to do something, ready to make a move.
What is your goal for investing?
Just to do as well as I can, play the game and be able to say at the end I was fairly successful at it.
What is your biggest money concern right now?
I really don't worry about it. As long as I'm healthy and able to work, I can always invest even if I'm making a dollar an hour.
Where do you get your investment tips?
Mostly, I grab ideas from the newspapers. I look at the front page of the paper and read about potential defense stocks or something happening. Then I do my research.
[Last modified June 16, 2005, 18:09:02]
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