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Here is your host, Dan Ferris. Hello and welcome

everyone to another episode of the Stansberry Investor Hour. I'm your host, Dan Ferris. I'm the editor of

Extreme Value, a Value Investing Service published by Stansberry Research. We have a really good show

lined up today, so I'm just going to jump in and go for it, folks.

Okay, today's rant is about you and your investments.

The simple fact is, and hardly anybody ever tells you this, investing is personal.

It's very personal.

It's an extension of who you are. Before you buy one share of stock

or one bond or one mutual fund, you should know a few things about yourself, not just about

investing, but about yourself. What kind of investor are you? What is your risk tolerance?

Last week we talked about the difference between investing and speculation. Well, are you primarily an investor or are you primarily a speculator?

Or just all one or just all the other? You should know that kind of stuff. I mean, do you even want anything to do with the stock market at all? That's a question you need to answer.

For most people, I think the answer probably ought to be a big fat.

No, but they just get carried along on the current, you know.

Everybody's doing it, so they want to do it too.

Now, look, you know, Wall Street, the finance industry, big banks and brokerages, they're not on your side here.

They don't want you to think investing is personal. They want you to think there's a formula to it that only they know, right?

So you get these absurd pronouncements, for example, when some Wall Street jackass says, you know, out of some place like Goldman Sachs, right,

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