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Northwest Voices

Seattle Times letters to the editor

July 2, 2009 at 4:00 PM

Investing: Poor choices led ‘haves’ to being ‘hads’

Diversifying, staying away from oil are best practices

I would say that your page one of Pacific Northwest poster boy, Larry Strunk [“Legions of ‘haves’ are now the ‘hads,'” Pacific Northwest magazine, June 28], was more a victim of unwise investment practices than a victim of the recession.

First he was “day-trading oil stocks” in his 401(k) — which is speculating in my book. When that didn’t work, he invested all of his 401(k) in one stock, Washington Mutual. Again, he was speculating, and he was not diversifying — a major prudent investing tenet. He is betting on one company in one industry.

If Strunk had abided by a few basic investment rules, he would not be in the fix that he now finds himself.

— David von Wolffersdorff, Seattle

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