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No. of Recommendations: 6
hello meast1,

I can tell you what I tell my friends and family.

1) read Peter Lynch's books,
2) read Warren Buffett's annual letters at www.berkshirehathaway.com,
3) read Ben Graham's books,
4) take a few accounting classes or read a few basic accounting
textbooks,
5) do homework on mutual funds or stocks prior to purchase; most
people want to jump right - which is good and will occur regardless
of when you buy/sell funds/stocks - but put the odds in your favor
by reading,
6) read the "Wall Street Journal" on a daily basis,
7) don't ever use a "buy and hold" a stock; "buy and do your homework"
is the appropriate strategy,
8) go to the library and become - as Dreyfus/Murray said "take baby
steps" - familiar with Value Line for stocks and Morningstar for
funds
9) build up your knowlege by listening to stock's conference calls,
10) become familiar with 10Ks and 10Qs (SEC filings).

If a person isn't willing to do their homework on stock holdings, then I recommend buying a mutual fund.
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