Last week, on September 6, I appeared on Chicago’s WBBM Radio’s Business Lunch Hour in the Portfolio Doctor segment.

I had to give buy, sell or hold recommendations on three stocks that a listener had asked about.

The stocks that week were: Goldman Sachs, Federal Express and Kellogg.

I rated Goldman Sachs a “sell” and Federal Express and Kellogg a “Buy.” You can read my recommendations on the WBBM 780 website here.

Goldman Sachs, or any of the financials, are tricky right now. If you bought Goldman several years ago you likely have quite substantial gains. It may behoove you to sell and take your profits off the table until you see what happens with the financial sector (as I believe more pain is coming for many of the financial companies.)

But I also believe in buying and holding so if your time horizon is ten years or more (as it should be) then Goldman will ultimately bounce back from what is happening right now. You’ll have some pain right now, but you’ll have to be patient. If you have a long time horizon, you should hold.

I like Goldman Sachs in general and consider them to be among the blue chip companies on Wall Street. But we don’t yet know who will survive this mortgage and credit fallout. It behooves investors to be cautious here.