I couldn't agree more. Anyone who bases their buy/sell decisions on what they read from cheerleaders on Yahoo boards deserves to lose their money. The only addition I would make to your comments is that when you are doing that research, keep an open mind and be unemotional. If you make a mistake, liquidate and move on. Don't rely on hopes, dreams, lust or piques of desire to color your judgment about a stock. Numbers do not lie (unless you want them to). History does not lie (unless you twist and color it).