Question: I want to buy my first house, albeit a small one, but I don't even know where to begin. Can you provide any advice on what my first steps should be in getting pre-approved for a mortgage? — Anne (Madison, WI)
Mike Norman: If you have access to the Internet there are a number of great sites that walk you through the pre-approval process. Try any one of the following:
Question: I noticed that my kids are obsessed with the clothing/sports brand Quiksilver (ZQK), and that Quiksilver is opening retail stores in malls all over the place. Do you think I should "follow the trend" and invest? — Greg (Scarsdale, NY)
Mike Norman: Greg, this seems like a pretty good company, however, it looks fairly priced to me. I’d try to buy it on any pullbacks.
Question: Is Met Life (MET) considered to be a good buy at its current p/e ratio? — Paul (New City, NY)
Mike Norman: Paul, you’re right to be worried about valuation after the long run that Met has had, however, the stock is still not overvalued, and with interest rates coming down, it could run further.
Question: Right now Marvel Tech (MRVL) is looking like an abandoned child. Every daily Internet trade journal has flogged it for its current earnings appraisal, and its outlook, not to mention the boogey-man options debacle. Some would argue the options are yesterday's news, while other analysts are not surprised at the revenue shortcomings and the pessimistic outlook for the next two quarters, and feel that is in line with their estimates. I am quite confused; what do you think? — Pete (Eldersburg, MD)
Mike Norman: Pete, I like to see that you want to buy amid all the gloom; however, MRVL is still overvalued according to my metrics, so I would still stay away.
Question: What do you think about Corning, Inc. (GLW)? Hold, sell or buy? — Fanish
Mike Norman: Fanish, I still don’t like Corning, even with its decline. Don’t get me wrong, it’s a good company, but still very overvalued. I wouldn’t touch it.