My Dumbest Investment

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In March 1991, the Investors Chronicle recommended Albert Fisher shares at 120p; the balance sheet was strong. We invested pounds 1,000. Within a year, the price had halved and by 1995 the value of our holding was pounds 343. Last year, the value fell to pounds 43, and the collapse has continued.

JT, Falmouth

The Fool responds: One of the core guidelines of Foolish investing is never to buy shares based on a tip. Instead, always analyse the company yourself.

If you decide to buy and the share price starts to slide, find out why. If the company is having problems and there are good reasons for the slide, then it's time to get out.