5) Donâ€™t fall for whatâ€™s â€œhot:â€ When it comes about jumping on an investment because itâ€™s a buzzed about trend, donâ€™t fall so easily. â€œI think that may be a mistake a lot of people make, trying to chase the hot industry," says White. "If the novice is lacking the info that Wall Street has, they will always be the last ones in, and theyâ€™re usually the ones left holding the bag. Chasing the hot industry is not the right mindset to have. Itâ€™s all about slow and steady."