Ted Allrich is the founder of The Online Investor and author of the just released book: Comfort Zone Investing: Build Wealth And Sleep Well At Night. In this weekly column, he'll offer advice to investors who are just getting started.

Rule no. 1: Always buy stocks with earnings. Earnings are what investors get to keep. The more earnings a stock has, the higher the price will go. Don't buy hope or future earnings. Buy earnings that are happening now, especially the ones that are increasing every year.

Rule no. 2: Always do your research. Don't buy a tip just because a talking (or screaming) head says a stock is good. It might be good for them but not for you. Since no one will tell you when to sell, if you don't do your homework, you can't know when the stock is overvalued and should be sold. It may be overvalued when you buy it. You won't know if you don't do your homework. And you won't know if it's the right type of stock for you. For example, if you're looking for a dividend and the stock is in the early stages of biotech, then it's definitely not for you. Do your research well and know what you own. Then you'll know when a stock is cheap or rich, when to buy or when to sell.

Rule no. 3: Always follow your stocks. You can't just buy and hold anymore. While you should be a reluctant seller because you've done your research and bought strong stocks, things change, things like management, competitive environment, economic conditions, etc. Nothing stays the same, ever. Sometimes the evolution works in your favor. Sometimes it doesn't. The best companies evolve ahead of change. Look at Apple, Inc. (NASDAQ:AAPL) as an example of a company that is changing dramatically, even its the name (now it's just Apple, Inc., not Apple Computer). Don't sit and hope for the best. Follow your stocks and the financial news. Use your TV computer, newspapers, magazines. News is everywhere, not in one medium.

Where do investment ideas come from and what makes one idea carry more weight than another? Sometimes it is your knowledge or interest in a certain area of business that stimulates you to consider an investment. Sometimes it is the opposite and you feel a need to expand your horizons. It might be the excitement or buzz around a certain company that perks your interest to look further. But often it is the source of the information that does the trick. Maybe sometimes it is a trick, and it is all about presentation.

In Kramer vs. Kramer the movie, winner of five Academy Awards, Dustin Hoffman and Meryl Streep played a husband and wife too preoccupied with their careers to put much energy into their family. In the end they separate and Mrs. Kramer gives up on her custody battle for her son concluding he would be better off with Mr. Kramer, who has lost his job in trying to maintain his bond with his son.

The Kramer/Cramer's of the investment world are at odds with each other too, but not in a personal relationship, only in their delivery of advice.