This is what I want future generations of new investors to remember:

Future generations is unlikely will remember the mighty AIG. AIG was a AAA company and has huge presence all over the world. It is so large that it cannot and must not fall. True enough, despite facing crisis the US government takeover. But what happens to investors? Their share drop to almost wortheless. From $70 one year ago, it is now $2.33 (representing 96% lost). Here are the lessons I want future new investors to learn:

(1) Do not put all eggs into one basket. Do not put too much money into a single company. If it collapse, you are finished. Even if it is rescued by a government, the share price can still be wortheless. (2) No matter high "safe" a company is, there is no such thing as 101% safe. Thus, do not buy insurance policies ALL from one company. Diversify. Do not put all cash and FDs with one bank - diversify. (3) Investing can cause heart attack. Ensure the portfolio is diversify. But make sure it is not diversify across toxic waste like CDOs and derivatives. In the future, the financial industry will invent new toxic waste. Maybe it will be call XYZ. How to identiy toxic waste? Easy, if you read the prospectus and found it almost not written in English than it is a toxic waste. If the salesman tell you al lthe good points but no bad points - likely both the product and the salesman are toxic waste. Also remember to report to police and civil defence to remove the toxic wasting salesman. (4) US government has a habbit of taking over large companies. This is a moral hazard. In future, companies will not be punish for poor business decision (such as having so much toxic waste in its backyard) and hence the capital markets will be more unstable on a long term basis. Thus, if you are wondering why your unit trusts goes down and up 40% every day - that's pretty normal since large companies can anyhow take risks.