So here’s some unsolicited advice.

First of all, asset allocation is key. If you want to build a portfolio that will stand the test of time and can help you achieve your long term goals, your going to need to buy stocks in several different industries.

I’d recommend starting with the big 6 – Financial, Health Care, Technology, Consumer Staples, Consumer Cyclicals, and Energy. If you put an equal amount (say $10,000 each) in each sector, you should be on your way to having a decent portfolio.

Second, buy the best company in each sector, preferably a good dividend paying stock that has consistently raised dividends overtime. As they say in my business, future earnings are just promises, but dividends are facts!

Third, learn to evaluate the fundamentals of a company. Many people I’ve worked with who like to buy their own stocks are more interested in stories or technical analysis than in understanding balance sheets, income statements and cash flow.

Some good books on this, John Neff’s new biography, The Intelligent Investor by Graham and Dodd, The Loser’s Game, The Story of Risk, etc.

Hope this helps and best of luck!