This is the latest in a series of video interviews in which Pat McKeough will give his investment advice on a variety of topics. Some will deal with his overall investment philosophy, others on specific investment strategies and still others will be comments on events that are affecting the markets and the economy. This time, Pat talks about how much evidence you need before you invest. If a product is flying off the shelves, will it be a good investment? It’s probably best not to buy on impulse, is Pat’s response.
When Should You Invest in a Hot Product?
Q: Pat, here’s an interesting question. If I see a company’s product walking off the shelves in a store, should I invest in that stock?
Pat McKeough: It certainly is worth looking closer to see if the numbers add up and if the product is the equivalent to—I remember a fad many years ago, the Cabbage Patch Dolls, that didn’t last very long.
I also remember one time, I think it was in 2001, I had several people over to the house and one of them brought the first iPod. We passed it around and everyone was really impressed with it. And we had just added Apple to our buy list at that time.
So that’s a case where you could say that you saw the thing walking out of the store and that was great. You should also be on the lookout for that.
COMMENTS PLEASE
Have you ever invested in a product or a chain of retail stores because they had become incredibly popular? Did you do any extra research or buy on instinct? Was it a good investment, or would you do it differently the next time? Click here
I’d say a product walking out of the store is a good reason for further study, but don’t buy blind. Because there might have been a temporary shortage of product in an area right about the time that it got a good review in a local newspaper, but that’s not necessarily going on all over the country.
So this is like a lot of things—it’s a good reason to look more closely, not a good reason to invest your money without looking more closely.
My team of experts does an enormous amount of research on your behalf when you become a client of our Successful Investor Wealth Management service. And I personally approve every transaction in every portfolio. We stress safety first and take a conservative approach to building wealth, following the same value-investing principles I’ve followed for my entire career. Click here to learn more about how you can profit from my portfolio management services.
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