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Money panel

GENE NOVAK: 68, retired, Redington Beach

By Times Staff Writer
Published September 25, 2005

How did you get started in investing?

I got started after I retired about 24 years ago. I believe it was a mutual fund.

What is your best investment so far?

I would say my house and probably after that, Exxon Mobil and TransOcean Oil.

What is your worst investment so far?

I got a few of them. Cell-Net, for example. It was supposed to automatically read electric meters and vending machines. That went bankrupt.

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

You should research better than I did, I guess. Pay attention to the market, to the ticker tape, and read your charts.

How would you describe your approach to investing?

I'm aggressive.

How is your portfolio proportioned?

I'd say about 95 percent in stocks and about 5 percent in money markets.

What do you find the most difficult about investing?

When to sell. That's probably everybody's most difficult part. When to sell is the hard part because you get greedy. You want to hold onto the last dollar.

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

I've been taking my own advice and selling some when I have a half-way decent profit and getting out.

Do you think now is a good time to invest?

Yeah, I think now is a good time. Any time you can get in and buy stocks at the right price would be a good time.

What is your goal for your investing?

I don't have any particular goal other than just keeping up with inflation, basically - not to lose too much money.

What is your biggest money concern right now?

The energy crisis and the situation in Iraq, and terrorism, and their effect on the economy.

Where do you get your investment tips?

Yahoo.com and Quicken.com, and the St. Petersburg Times.

[Last modified September 22, 2005, 19:35:03]