Thanks to a soaring stock market, and the increase in the number of discount brokers, many small investors are branching out. Fox 11's Erik Wells has some advice on doing your own stock picking. They've already bought him a swimming pool, and prepaid college plans for his kids. And you know, it could turn around.
First step is to diversify.
So if that industry gets hit, then your entire portfolio is going to suffer. Well, probably not. Second rule is to put no more than 15-percent of your money in any one stock. Third rule, keep investing in the stocks you pick. Keep investing and let the profits run.