Strategy   WealthEffect Strategy     Find great companies...buy them...hold them     Great companies deserve the benefit of the doubt     Dollar-cost average     Dollar-Cost Averaging     Take advantage of the ups and downs in the stock market     Stick with great companies     "Can't Beat the Feeling"     Your Advantage     You can't beat Wall Street at its game     Don't be seduced by information overload     Your strategy is your advantage     Tactics     Buy the companies you want when their shares are out of favor     Buy when the insiders are buying     Some practical suggestions     Margin     Margin is borrowed money     Margin turns investments into speculations     Don't buy stocks on margin     Risk     Risk is volatility — or so the professors say     In the stock market, volatility is good!     True risk is the permanent loss of money     Let's Get Real Part I     Always let reality get in the way of a good theory     How to handle your stocks going down     How to handle everyone else's stocks going up     Part II     Internet beverages with Peter Lynch     Baseball with Warren Buffett     One-on-One with Bill Gates     Passive vs. Active Investing     The path to long-term investing     Passive investing is best for taxable accounts     Active investing is best for tax-exempt accounts