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Originally Posted by Slava
###: Professional advice is worth it!!
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That's not what he was saying (he was actually dissing stock brokers, saying they're the ones who get rich), but you are right.
Most people are not cut out to be stock investors, unless it's putting a bit of money into a few blue chips and leaving it there forever. Clients of mine decide they're going to get rich with individual stocks and it usually backfires. Take the emotions out of your stock decisions. Buy quality companies, look for dividend-paying stocks, hold them for the long term, ignore fluctuations and if they go down in value (assuming they're still good companies), buy more. That's how you make money in stocks. Unfortunately, most people don't do that. Buy a couple of banks, some utility companies and a few others and forget about them for 20 years and you'll likely do very well. However, most people let their emotions rule their decisions or buy on advice from some brother-in-law and it screws them up.
One of my clients lost 150K on one stock. He worked for the (tech) company and absolutely believed they would change the world. The company went out of business and his shares were worthless. There are many examples of this but that's the biggest horror story I have.
Most people are not cut out for this. BE VERY CAREFUL!