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Biggest Investor Mistakes: iPonzi, Anyone?

By Ben Steverman - 2011-09-13T22:48:05Z

Caspar Benson/Getty Images

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Gold Fever

Being overly cautious can be costly--especially when a volatile asset gives the illusion of safety. Jittery clients have been asking Cathy Pareto, a financial adviser in Coral Gables, Fla., to liquidate their investments to buy gold bars and coins. The catalyst is usually something they've heard on radio or TV. While gold can make sense as a part of a portfolio and may protect investors from a declining dollar, gold and other precious metals are "as risky as equities," says Pareto. Moreover, there are other ways to protect against a weak U.S. dollar, such as foreign stocks. "Diversification still works," she says.

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