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Money Panel

By FRED W. WRIGHT
Published October 22, 2006

How did you get started in investing?

I am the third generation in my family of stock brokers. I got to work on the floor of the New York Stock Exchange as a teenager. I made my first investment at 21.

What is your best investment?

My best investment has been in rental real estate - single-family homes, duplexes.

What is your worst investment?

It was a small biotech company that had a great idea but didn't go anywhere.

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

I don't think you can be passive anymore. It used to be you could buy and hold. Not anymore. I think you have to be active in your investments.

What do you find the most difficult about investing?

Keeping aware. Being able to make your own decision from information you have. And not be overly influenced by media and others' opinions of what's going on.

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

I've become very much more careful to make sure that the value is there in the real estate that I buy. A few years ago, you could buy anything and do well. Now you have to look at the value if you're going to resell.

What is your goal for your investing?

My goal is to build an asset base that will bring me passive income that will support the lifestyle I choose when I choose to stop working.

Where do you get your investment tips?

I read the newspaper every day. I also read investor journals occasionally. I have three teenagers and I try to pay attention to what's hot. Teenagers are a great market indicator. I use yahoo.com quite a bit to look at past (stock) performances.

[Last modified October 21, 2006, 21:25:55]