Someone who happened to buy some Apple stock within the past five years is in danger of thinking that they have become a stock-picking genius. If this describes you, get ready to become your own worst enemy as an investor.
To consistently make money investing in individual stocks is extremely difficult. I was reminded of this recently as I read Phil Town's new book, "Payback Time -- Making Big Money Is the Best Revenge." It reminded me of an earlier book from 2001 by John Spooner with the catchy title, "Do You Want to Make Money or Would You Rather Fool Around."