October 14, 2018, 6:02 AM
Dear Mr. Berko: Back in the middle of 2014, I wrote and asked you to recommend a good utility stock for my 77-year-old mother. Mom had a $13,000 certificate of deposit that was coming due, and the interest rate on her renewal was terrible. Seeing as the women in my family have long lives, we wanted a utility that would regularly raise the dividend, as well as increase in value. You recommended Dominion Energy, and we believed you. So that summer, we bought 150 shares at $75.25, and the stock paid Mom 3.1 percent. But now Dominion is about $72, and we have a loss of about $500. We can’t afford to lose money. And we never expected this to go down in price, because you said in your email to us, “This issue should have strong dividend growth and modest principal appreciation over the long term.” We have two other stocks, and both are up. So why hasn’t Dominion gone up when the stock market is way up? Did you give us bad advice? What should we do now?