Alexander: Business at Edward Jones office on Hudson Drive has been very good

By Greg Miller
STAR STAFF
gmiller@starhq.com

   Since the Edward Jones office located at 401 Hudson Drive opened in July 2002, business has been very good, according to investment representative Curt Alexander.
   "It steadily just picks up month after month," Alexander said. "Last year, we had our first positive year in the Market in a couple of years, up 25 percent on the Dow, up 50 percent on the NASDAQ. That obviously helps business."
   The increase in business was the firm's biggest accomplishment for last year, according to Alexander. He cited David Wortman's long service to the community at the city's first Edward Jones office. "Edward Jones is finally getting out there to where people know Edward Jones, respect it.
   "All the scandals that have gone on the last couple of years, and you've not heard Edward Jones' name mentioned in there, which is a plus. This is our third year of being one of the top 10 companies to work for in America. That says a lot about Edward Jones. I think people see that, and they want to do business with somebody that they can trust and respect."
   This year, Alexander hopes to "keep building the business, introducing people to Edward Jones, bringing more business to Edward Jones in Elizabethton."
   Based on movement in the Stock Market from Jan. 1 through mid-February, Alexander anticipates a positive impact on his office. "With us being a fairly new office, we have a lot of room to grow," he said. "On average, the Market's going to do 8-10 percent a year. If my business could increase 15-20 percent a year, I'd be tickled to death. By that, I mean 15-20 growth in the assets that we keep under management here."
   Alexander says he thinks we are now in the beginning of a "bull" market. Out of any 10-year period, "You're going to have three or four down years, but you're also going to have six to seven up years. I think, I hope, I pray, that we've had our three or four down years for this 10-year period. We've had three pretty tough years, so I think we're at the beginning of a bull market or what's called a 'recovery,' expansion phase. So I hope it's several years before we have to worry about it.
   "We're beginning to see some good signs. Inventories are low, which means manufacturing is going to have to start picking up to start building up those inventories, which means they're going to have to hire more people to do the work, which means they're going to hire more truckers to haul the stuff, more people to stock it on the shelves. Housing starts have been astronomical with low interest rates. They're talking about possibly raising interest rates in the future, which means the economy is picking up. Unemployment is still very low. There are a lot of good signs for the economy."
   In both good and bad markets, Edward Jones bases its investment decisions on three factors, according to Alexander. Those factors include purchasing stocks of quality companies "that have been around for a long time and have a proven track record of growth...diversifying your investments, which means spread out among all industry sectors...and investing for the long term, don't buy today and sell tomorrow."
   The best time to invest, Alexander says, "is when prices are down. If you buy a good quality company and hold them for the long term, you will increase your wealth."
   Alexander's office is open Monday through Friday from 8 a.m.-5 p.m. and evenings and weekends by appointment.
   For more information, call 543-1181 or e-mail curta@chartertn.net.