Do not buy the hype from Wall St. and the press that stocks always go up. There are long periods when stocks do nothing and other investments are better.

Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.

There is no such thing as a paper loss. A paper loss is a very real loss.

Buy low and sell high. It's pretty simple. The problem is knowing what's low and what's high.

I was poor once, I didn't like it, I don't want to be poor again.

My basic advise is don't lose money

Without giving specific names, most of the significant American banks, the larger banks, are bankrupt, totally bankrupt.