We know the financial crisis has made trading treacherous, but fortunately Suze’s an expert at navigating rough waters. See for yourself!
Question: After the huge sell-off in October and November, some stocks have rallied back strongly – like Goldman Sachs which is up 30% in December. Do you hold onto these ‘recovery’ names? Sell them here? Or add more?”
Orman: “Don't put all your money into one stock. Instead, invest using ETFs. If you’re looking for a financial play you might want to buy an ETF such as the PowerShares Financial Preferred which pays a dividend while you hold it.
But that’s not all Suze also has a few tips she recommends for investors.
Suze Orman’s Investor Advice
*If you do not have 10 years or longer, you shouldn't be in this market especially with money you need.
*GLD should be part of every portfolio
*Look at high yield dividend paying ETFs such as the SPDR S&P Dividend as an easy way to diversify your portfolio. (This is the strategy she recommended in the Q&A)
What's the bottom line? "Don't let Wall Street scare the be-doodle out of you," says Orman. "Become the master of your own financial destiny."
It’s always more fun to hear from Suze herself. Watch the video now.
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Trader disclosure: On Jan. 12th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (TM), (WMT), (MGM), (MCD), (SDS); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Najarian Owns (MS); Najarian Owns (EEM) Long Call Spread; Najarian Owns (ERTS) Long Call Spread; Najarian Owns (DNA) Calls; Najarian Owns (XME) Calls; Najarian Owns (NVLS) Calls; Najarian Own (NVDA) Calls; Najarian Owns (MS) Short Calls; Najarian Owns (VZ) Put Spread; Finerman's Firm Owns (MSFT), (DNA); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (USO), (ANF), (DSX), (BBT), (COF), (EGR)
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