Kevin Sorbo says he believed that he was, perhaps not a Herculean investor, but a good investor nevertheless, until the past 3 years, when circumstances changed his mind. His holdings in residential and corporate real estate took a dive, and his investments in initial public offerings tanked.
But Sorbo, who is best known for his TV role as the Greek hero Hercules, says he isn’t too concerned about the set-back. Since high school, he says, he hasn’t been afraid to ask questions when it comes to securing financial success. He says he asks wealthy individuals who are outside of the Hollywood scene how they succeeded. They all use failure as a learning tool, he says.
Sorbo says he learned from his recent failures that he needed to trust himself. He says he didn’t move quickly enough to get out of the stock market in 2007—though his inclination was to divest.
Sorbo is holding onto three homes in the Hamptons in Long Island, N.Y. He spared his investment portfolio from further losses by selling poor-performing stocks to reap the tax benefits from the loss.
Sorbo protected much of his savings invested in bonds and retained solid stocks—those that show long-term success and stability during rough times, such as McDonald’s (NYSE: MCD; Price: $74.25).
Sorbo and his wife, actress Sam Jenkins, have 35 percent of their savings invested in stocks, bonds and mutual funds; 45 percent in real estate; and 10 percent in cash, including silver bars.