WorldCom's problems hurting local investor confidence
Wednesday, June 26th 2002, 12:00 am
By: News On 6
The WorldCom fallout is not just shaking up the world of accounting, it's also driving down investor confidence.
News on Six Anchor Terry Hood visited with Tulsans and how they are handling the scandal.
Investors were already shaken-up by the recent downfalls of companies like Enron and Williams Communications. WorldCom's announcements have just added to their concerns. So I talked to investors with OK-Stocks.com to try to get some of your concerns met.
Larry Houchin: "Investor perception is so negative in the marketplace the psychology running so negative."
Glenda Bethel: "With the point that we're at the economy today, why would we invest? Wouldn't it be safer to put our money in a bank to gain a little bit of interest and at least know that you're not going to lose?"
Larry Houchin: "Usually, the best time to invest is when its the toughest to invest when things look the bleakest when you just cant imagine how things are ever gonna turn around certainly you should always keep a cash reserve but the economy is going to pick back up at some point in time."
Jim Baudendistel: "If the stock is very low is it a good idea to invest and hope that it bounces back or would you suggest investing in something other than telecom?"
Larry Houchin: "If you're investing in these penny stocks that are having these severe problems. You have to invest with money that you're willing. I call it Vegas money, money that you're wiling to lose. And if you lose it its not gonna affect you're style of living."
MJ Denman: Would it make more sense now in this economy to invest in blue chip stocks versus more volatile tech stocks, communications, things of that nature?
Larry Houchin: "The value type stocks have outperformed the growth stocks sector for the last 18 months. It always comes back to what do you bring to the bottom line whatâ€™s the profit picture."