Should you change your investing or retirement plans after the Enron crash? Iowa stockbroker Steve DeVenney says the giant firm whose stock tumbled from 90-dollars a share to nearly nothing wasn’t the kind of energy company consumers may picture.It started as a utility, and Congress is still trying to figure out why and how it branched out and set up so many partnerships. DeVenney says the company’s main business was hiding debt and faking a good financial image, as long as it could. The broker says while duped investors are getting sympathy, employees who got most or all of their 401-K contributions in company stock are not. DeVenney says he works with other investors who put themselves in the same situation. They’ve worked at a company for years and are loyal, and just won’t sell the stock — so they’re like Enron workers, with their assets all in their own company’s stock. DeVenney says diversifying is still the best way to manage your investments. Having more than 15 to 20-percent of your net worth in one stock isn’t wise.
