In honor of Worldwide Invest Better Day, we at The Motley Fool are recapping our "13 Steps to Investing Foolishly" -- steps you can follow to become a better, more Foolish investor.

In the following video, Analyst Dayana Yochim explains the importance of Step No. 2: trading wisdom for foolishness. 

Being a successful investor is tough enough as it is, but doing so when you have the people behind Wall Street's constant noise machine selling you products that they themselves don't believe in and making shady deals behind closed doors, the whole situation can be downright demoralizing. Remember when Morgan Stanley backed Facebook, the biggest (and worst) IPO ever, when Morgan itself was short the stock?

It's important to remember that you, and only you, have your best interests at heart. Taking control of your finances by tuning out Wall Street isn’t just good for your health; it's also good for your finances.

Click the big green button to join the thousands of people celebrating Worldwide Invest Better Day on Sept. 25!


This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.