DENVER (CBS4) – The recent good news from the stock market is also good news for anybody who owns stocks or has a 401k retirement plan. But 4 On Your Side Money Saver Suzanne McCarroll wanted to know if now is the time to lock in those gains by selling.
McCarroll spoke to an investment advisor and a group of women who are really beating the market.
McCarroll first met the Mindful Market Mavens more than a year ago. They’ve been together since 1998 investing what they like and know.
“Even if all the numbers might not be perfect, we want it because we shop there and like the product,” investor Eluise Marvin said.
It’s a philosophy that is working. And just because the market was up on Tuesday, the Mavens aren’t selling. McCarroll checked on just a few of their investments and compared them to where their stocks were in August of 2011. The market overall is up 36 percent, but the Mavens’ numbers are as follows:
– Disney +80%
– Starbucks +62%
– Union Pacific +62%
– Apple +14%
What they often do is sell their initial investment in a stock and coast.
“I like Lululemon a lot,” investor Betsy Wills said. “We’ve sold about half of our holdings in Lululemon so that we’re right now just on profit.”
“New highs tend to beget new highs, so I wouldn’t rush out and sell everything,” Brian Sells with Peak Financial said.
Sells says the Mavens strategy of buying and holding onto their profits is wise.
“In terms of your overall investment strategy, you should do nothing,” Sell said.
He says make sure your portfolio is balanced and that you’re comfortable with the risk level of your investments.
There may be a correction in the market, but both the certified financial planner and the Mindful Mavens say slow and steady is the way to ride this market.