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Money Panel: Wayne Johnson

By FRED W. WRIGHT JR.
Published May 28, 2006

How did you get started in investing?

For retirement. I wanted to prepare for my future. I started an IRA back in the 1960s.

What is your best investment?

Energy. Real estate was very good for me back in the '70s and '80s. BPT - British Petroleum Trust - which pays a 10 percent dividend.

What is your worst investment?

Lucent Technologies back in the '90s. That really killed me.

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

You have to do some research yourself. You can't rely on someone else.

How would you describe your approach to investing?

Moderate to aggressive to some extent, even though I'm retired.

What do you find the most difficult about investing?

Timing. Watching trends and when to possibly sell or buy. It's difficult to pick those times. Today, you can't just hold and hold because sectors fall, so you have to fine-tune every six months. And not ride losers all the way down.

How are you invested?

Gold, 20 percent; stocks, 50 percent; annuity and bonds, 20 percent; 10 percent liquid. You have to be liquid to be in a position to take advantage of opportunities.

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

More into energy and resources with an energy trust.

Do you think now is a good time to invest?

Yes, any time is a good time to invest. Even when the market's down, there are buying opportunities.

What is your biggest money concern?

To be able to pay taxes and higher cost of living, being in retirement and then keep up with inflation.

What is your goal for your investing?

To maintain my core portfolio and then hopefully keep up with inflation and be able to live a lifestyle that isn't restricted. Travel if I want.

Where do you get your investment tips?

Several newsletters: Creative Investing, Personal Finance. I do watch MSNBC to some extent. Smart Money and Forbes.

- FRED W. WRIGHT JR., Times correspondent

[Last modified May 28, 2006, 07:27:50]