Have the courage of your own convictions and don't be swayed by friends who boast about their financial home runs. Last year's winners are often this year's losers.

Avoid greed and fear. These are the investor's Achilles heels. Keeping all your money in the bank earning 3% interest is just as foolish as dumping your entire savings into the market thinking you'll make a quick buck.

When a corporation goes into the marketplace to buy back its own stock, it means management thinks the stock is undervalued. This is a smart time to buy.

Bulls make money and bears make money, but pigs seldom do. When a stock or mutual fund is up 30%, sell one-quarter of your position.

Have the courage of your own convictions and don't be swayed by friends who boast about their financial home runs. Last year's winners are often this year's losers.

Bet on black. Buy low-debt or no-debt companies. When the economy is in trouble, these companies usually have enough cash on hand to stay out of trouble. And they seldom need to borrow when interest rates are high.

Never call your broker on Monday. Out of courtesy and common sense, wait until Tuesday. A good broker is focused on the opening of the market - at home and around the world - and on getting back into a business frame of mind after the weekend.