Kremed by Doughnuts

I fell victim to online hype about Krispy Kreme Doughnuts stock back when it was around $30 per share, and bought in. Everyone knows the rest of the story — it's trading around $4 per share these days. The experience taught me these lessons: (1) Buy quality, and hold. If it was good enough to buy in the first place, it's good enough to hold unless the fundamentals of the company change. (2) Suppress greed and remain objective. We all want to prosper, but the old adage could never be more apropos than in investing — "If it sounds too good to be true, it probably is." (3) Do homework and due diligence. Walk away from the hype. Unless you're getting your stock advice from your mother, there is probably an agenda behind it. Ask yourself, "Why does this person want me to buy this stock?" If this sounds cynical, consider: It's real money and it's yours to lose.

— Dr. L., online

The Fool Responds: You learned some great lessons, and your future investing should be much more profitable.

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