RE: re fredlittleguy, my goal is always to take minimal risk. I wait until I see a pile of money lying there, and then I go and pick it up. I have to explore many, many investing opportunities until I find the "pile of money" investment. They do exist.
My most recent example is Semafo (SMF.to). They were meeting all their goals, they had a reasonable share count for the size of their operation, minimal dilution, and they were in the process of becoming very profitable. So I loaded the boat at around $1.30 in mid 2008. During the market crash, the stock dropped to $1, but I was not worried because they continued to meet their goals, and they continued to improve their production and cost numbers. The stock was still a pile of money waiting to be picked up whether the market knew it or not.
Now the sock is at CA$7.50. It is at fair value, but it is no longer a pile of money waiting to be picked up. I am looking for the next pile of money. This stock has potential, but it has too many negatives right now. If they get their act together and the stock is still a bargain, I might buy. If it gets away, I will keep looking.
Investing does not need to be a gamble. It just requires patience and research to find the right opportunities.