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Money Panel: Eugene Johnston, 71, CPA, lawyer, entrepreneur, St. Petersburg
By Fred W. Wright Jr., Times Correspondent
Published June 24, 2007
How did you get started in investing? My first personal in-vestment was when I was 25. It was a stock. What is your best investment? A company in Australia - Western Pacific Bank. What is your worst investment? Oakwood Homes, a mobile home company. What have you learned about investing that you think all investors should know? Watch out for companies that try and get into the financing business to finance their own products. Leave the financing to banks and finance companies. How would you describe your approach to investing? I am a fundamentalist. I'm a Warren Buffett guy. I look for companies that have strong barriers to entry by competitors. What do you find the most difficult about investing? Penetrating the balance sheet with all these arcane methods of financing. Understanding what's going on on the balance sheet. And I say that as a CPA. How are you invested? Overwhelmingly in foreign stocks. They're undervalued relative to the America market. What changes have you made in your investments in the past year? The percentage has gone from 40 percent (in) overseas (stocks) to about 75 to 80 percent. How did you make these changes? The only government bonds I now own are Canadian, a country running a balance of payment surplus. Do you think now is a good time to invest? Yes. In certain countries. What is your goal for your investing? Just to stay a little ahead of inflation. What is your biggest money concern? I don't think the American economy, the way it is currently structured, can possibly continue and be fair to the people who are currently trying to save and prepare for their own retirement. Where do you get your investment tips? I read a great deal. I take the Financial Times of London and the Economist and I read the Wall Street Journal every day.
[Last modified June 22, 2007, 22:37:54]
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by Linda
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06/24/07 12:44 PM
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I enjoyed Mr Johnston'interview.Iwanted to ask what he thought of a. retiring to Panama? b. investing in Real Estate in Panama? BUT, I couldn't locate him in the FL BAR or CPA liceinced/retired Question "C"? Who is Mr. Johnston? Email,answerplease
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by Adrian
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06/24/07 08:45 AM
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Since the goal is to stay a bit ahead of inflation, why not use risk free TIPS bonds in tax advantaged accounts and tax efficient index funds &/or ETFs in taxable accounts? This strategy offers better diversification and eliminates unsystemic risk.
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