“Opportunity rarely looks like an opportunity. Often opportunity arrives incognito, disguised as misfortune, defeat, and rejection..” Denis Waitley quantumsystem.info
Predictions are that the cost of oil and petroleum products will go nowhere but up. A recent poll asked “What is the single biggest issue facing America today?” The answer, according to sixty-eight percent (68%) of those responding, is the high cost of oil, gas and energy. With energy costs rising America is looking for alternatives. Hybrid vehicles, wind power, solar power. Green has become the new black! And what is more green than solar power?
So how can the average person profit from the upcoming solar revolution? Well, there are three potential ways:
Invest in Solar Power related companies;
Install Solar panels on your home; or
Start a Solar power business.
Investing in solar power related companies: This profit model can make significant amounts of money. For example, look at Suntech Power Holdings (STP: NYSE). If you invested in Suntech during September of 2007 you would have paid somewhere between $35 and $40 per share. If you sold it just a few months later on January 3, 2008 you could have made as much as $55 per share. Not bad. But if you waited just a few months longer and sold on March 28, 2008 you would have lost about $6 per share. A year later Suntech was trading at under $11 per share. Not so good!
My point is simply this: Investing is full of risks. Market conditions are not something any of us can control. And many of the companies available for investment are volatile. Stock prices can swing up and down in a short period of time. Trying to time the market is nearly impossible to do with any accuracy.
In my mind, leave the investment strategies to the professionals!
So what can you do? Stay tuned for Part 2 of this series.
F. Keats Boyd, III is an Estate Planning Attorney. His law practice concentrates on the areas of Estate Planning and Estate Administration. His firm, Boyd & Boyd, P.C., http://www.boydandboydpc.com, located in Hyannis, Massachusetts, has been helping families from across the country since 1992. Mr. Boyd is admitted to the Massachusetts Bar, the US Tax Court, US District Court for Massachusetts, the US Court of Appeals (1st Circuit), US Supreme Court.