Print

Email story

Comment

Email editor

Money panel

JOHN VENTIMEGLIA: 62, dry cleaner owner, Largo

By Times Staff Writer
Published October 9, 2005

How did you get started in investing?

I was 24 years old, inherited some money already invested, and I learned from a broker who took over the account.

What is your best investment so far?

About five years ago, I bought a penny stock for 17 cents. Sold it for $2 to $3. It was a local company that made vitamin pills.

What is your worst investment so far?

I most recently bought Baidu, similar to Google, an IPO about a month ago. Bought high and sold low.

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

I consider the stock market to be gambling. Don't put any money on the table that you don't want to lose. Real estate has been good.

How would you describe your approach to investing?

Probably, not the right way to do it. I like gambling. Investing in the stock market, you don't have to get on a plane to go somewhere to gamble. I'm a risk taker.

What do you find the most difficult about investing?

When to sell.

How are you invested now?

Probably 90 percent in real estate. The other 10 percent would be stocks.

Do you think now is a good time to invest?

I think now is a good time to sell a house. I think there's a housing bubble and houses are going to stay even or decrease in value.

What is your goal for investing?

I don't have a number in mind. By 65, I want to be able to take a look and see if it's time to sell the business and retire.

What is your biggest money concern right now?

My increase in overhead. There's not supposed to be inflation but my (natural) gas bill has gone up 25 percent in one month. Property taxes have gone up 25 percent in one year. How will people survive that? The cost of overhead is pushing me to the point where I can't pay my bills.

Where do you get your investment tips?

I get advice from some friends who invest. I trust their judgment. I watch talking heads on TV. There are certain stocks I follow.

[Last modified October 5, 2005, 21:05:03]