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MICHAEL WILDFEUER: 68, retired, Clearwater
By Times Staff Writer
Published January 1, 2006
How did you get started in investing?
I started buying utility stocks, probably in the late '70s.
What is your best investment so far?
Recently, I bought and sold Philip Morris, which is now Altria.
What is your worst investment so far?
I've had losers, no questions about that. Had some lousy mutual funds about 10 years ago. Sold some mutual funds and took a bath.
What have you learned about investing that you think all investors should know?
Very simple: You can't time the market.
What do you find the most difficult about investing?
Having faith in your decisions.
How would you describe your approach to investing?
I'm a moderate risk-taker. I'll take a chance if I think the opportunity will pay off in the medium term.
How are you invested now?
I hold stocks, probably only about 20 percent; bond funds, about 50 percent; and mutual funds, the other 30 percent.
What changes, if any, have you made in your investments in the past year?
I've increased income-producing investments because I have to plan for my 70th birthday, when the IRS is going to demand I take money out of my IRA. I'm managing our IRAs for that time.
How have you made those changes?
I sold common stocks and bought into high-yield bond funds. That's where I take my risks.
Do you think now is a good time to invest?
There's an old adage: Buy on the bad news, sell on the good news. There's always bad news out there. There's always some good, quality investments at a reasonable price regardless of where the market is at that point.
What is your goal for your investing?
Generate enough income so my wife and I can do what we want to do in retirement: travel and do what we please.
What is your biggest money concern right now?
On a larger scale, I'm always concerned about the economy of this country.
Where do you get investment tips?
I read magazines, newspapers. I look at companies I hear about on TV or from friends, and I try to do a little research. There's a very good Web site, QuantumOnline.com. It's a freebie. You can tailor an inquiry, and I get some ideas from there. I read BusinessWeek. Some of it is hunch.
[Last modified December 30, 2005, 21:08:35]
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