Read this article in Market Watch.
Principles
1. The markets are a dangerous place. They are little more than legalised casinos.
2. Fear and greed drives the markets.
3. Technical analysis does not work.
4. Stay liquid and diversify
Advice
a) Never invest with money that you may need in an emergency
b) Money that you may need should be in a saving account, to be used in an emergency
c) Investments are always priced at watch they are worth
d) Actively management funds rarely beat the benchmark
The 4th principle is useful and has to be read many times.
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