Last month, I had the opportunity to interview the man CNNMoney called "the best buy-and-hold blogger" on the Web, Eddy Elfenbein.

Elfenbein writes about investing at Crossing Wall Street, and on that site he goes about the very Foolish mission of demystifing investing and the markets.

During our hourlong interview, I asked him about the advice he gives to self-described new investors. Watch the following video for the exchange. (Run time: 4:09; there's also a transcript under the video player.) managing editor Brian Richards holds no position in any company mentioned. The Motley Fool owns shares of ExxonMobil, Google, and Citigroup. Motley Fool newsletter services have recommended buying shares of Google. The Motley Fool has a disclosure policy.