Q: You often change your investment recommendations according to the investment climate. Are there any investments you would recommend for the long-term, say 20 years, to put in an IRA and forget?

A: My 20-year crystal ball is a bit cloudy. But while there are no guarantees that everything will be rosy in the year 2018, right now I'd recommend a diversified portfolio of growth stocks, plus a "natural resources" hedge. Investing in only a couple of blue-chip stocks such as an AT&T or Pepsi, is extremely dangerous. Given the dynamics of the telecommunications revolution, who knows where AT&T will be in 20 years. And Pepsi may not be able to keep up with Coca Cola. Better to choose a combination of mutual funds, such as Janus Worldwide Fund, Schwab 1000 Index Fund and a natural resources fund.