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JOHN POWELL: 53, semiretired, St. Petersburg
By Times Staff Writer
Published July 10, 2005
How did you get started in investing?
It's been a long road. My real start was when I worked with a company that had a savings and investment plan, in 1970.
What is your best investment so far?
By far, Jabil Circuit has been my best pick. That has returned about 2,500 percent.
What is your worst investment so far?
Probably the worst investment was Sports & Leisure. It went out of business about 10 years ago.
What have you learned about investing that you think all investors should know?
Time is your friend. Over time, if you're (patient), the rewards are very high.
How would you describe your approach to investing?
As I've gotten older, I've gotten more conservative. On individual stocks, I've taken some risks and gotten some high returns.
What do you find the most difficult about investing?
Selling. I think you have a tendency to fall in love with the stocks you pick. There's a time to sell. For me, that's much more difficult than the decision to buy.
How are you invested now?
I've invested in real estate, certainly my home, and I've got some oil rights in Illinois, and equities and bonds.
What changes, if any, have you made in your investments in the past year?
I've kind of cleaned house on some of the smaller holdings in individual stocks (and) put those funds into mutual funds. It's a more conservative approach.
Do you think now is a good time to invest?
It depends on what you're investing in. Real estate now still looks attractive. Certain sectors of the market look good.
What is your goal for investing?
Leaving a nice nest egg for my family. That's primary. Being able to continue a comfortable retirement.
What is your biggest money concern right now?
Health care costs.
Where do you get your investment tips?
I like the stuff Peter Lynch has written. I like economic books: Freakanomics. Wall Street Journal. The Bloomberg TV show.
[Last modified July 7, 2005, 18:03:02]
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