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.

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.

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.

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.

If you're uncomfortable with your financial advisor, it's probably with good reason.

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.

Always leave a sinking ship. There's no virtue in hanging on to losers. And stocks don't have feelings.