13 Steps to Investing Foolishly, Step 2: Trade Wisdom for Foolishness

Worldwide Invest Better Day 9/25/2012

In honor of Worldwide Invest Better Day, we at The Motley Fool are recapping our "13 Steps to Investing Foolishly" -- steps you can follow to become a better, more Foolish investor.

In the following video, Analyst Dayana Yochim explains the importance of Step No. 2: trading wisdom for foolishness. 

Being a successful investor is tough enough as it is, but doing so when you have the people behind Wall Street's constant noise machine selling you products that they themselves don't believe in and making shady deals behind closed doors, the whole situation can be downright demoralizing. Remember when Morgan Stanley backed Facebook, the biggest (and worst) IPO ever, when Morgan itself was short the stock?

It's important to remember that you, and only you, have your best interests at heart. Taking control of your finances by tuning out Wall Street isn't just good for your health; it's also good for your finances.

Click the big green button to join the thousands of people celebrating Worldwide Invest Better Day on Sept. 25!


The article 13 Steps to Investing Foolishly, Step 2: Trade Wisdom for Foolishness originally appeared on Fool.com.

Dayana Yochim has no positions in the stocks mentioned above. The Motley Fool owns shares of and options on Facebook. Motley Fool newsletter services recommend Facebook. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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