Message to investors: Think long-term
MONEY MANAGEMENT Fred Porter, an investment representative with Edward Jones' Meridian office, advises his clients to take a long-term view of money management. PHOTO BY CARISA MCCAIN / THE MERIDIAN STAR
By William F. West / community editor
July 7, 2002
A Meridian-based investment adviser is encouraging his clients to base money management decisions on long-term goals, not short-term emotions.
Fred Porter, a local investment representative for the past 10 years with the St. Louis-based Edward Jones firm, says it's not as easy as it sounds, but the long view is more likely to succeed.
And, despite the problems with WorldCom, Enron, Martha Stewart, K Mart, Arthur Andersen and a spate of other businesses, investment money is still flowing into the stock market.
Porter, 52, said the last six months have been his company's best in a couple of years as people who have handled their own trading are seeing the value of a long-term investment plan.
Porter said quality and diversification "are the things you have got to go for. I don't care what the company is, don't ever put all your eggs in one basket."
He acknowledged that investors are troubled and disappointed with the recent examples of corporate deception.
Meanwhile it seems that, when it comes to bookkeeping, corporate America is simply going to have to give it straight.
Porter sees current events as part of a cycle. "Our country goes through cycles, and this is just another one, and I think we'll be stronger for it somewhere down the road, but it's going to take a little while," he said.