We don't believe in the myth that everyone needs a paid professional advisor in order to succeed in the investment world.

It's true that that world is massive, complex and loaded with pitfalls. But the mildly educated investor can handle all those risks by following five simple risk management rules.

1). Buy quality stocks that are supported by expert analysts such as those in Value Line Investment Survey, available at many public libraries, and quality stock funds that have good long-term performance records. Don't speculate in unproven securities.

2). Stay well diversivied. Don't put all your eggs in one basket.

3). Make sure your portfolio contains a number of stocks paying good dividends, which serve as a safety net as stock prices fall.

4). Set a long horizon when investing. Practice patience. Don't react to every lull in the stock market. That market never goes straight up day-to-day, but over the long run cautious, educated investors have made money in stocks and stock funds.

5). Be on your guard. Don't be complacent over what you own. Keep an eye on changes, but don't become obsessed with trading.

INVESTMENT EDUCATOR can help you comply with these rules.

Under the P.I.E. umbrella, Cliff writes Personal Finance Columns for seven newspapers, and with his wife, Fran, produces an investment newsletter, Investment Educator four times a year (February, May, August & November). Investment Educator is designed to inspire the novice and refresh the advanced investor.