<< If you're not a professional investor, i suggest the following investment plan:
50% VFINX or VTSMX (large cap, low expense Vanguard Index funds. Your growth component).
50% DODGX (low expense, great performance. One of the best ever value funds).
Buy. Hold. Repeat. >>
A second vote for VFINX (S&P 500 index mutual fund). If you only have a little to invest your brokerage may have its own version with no transaction fee, but probably a higher yearly expense (at schwab their own SWPIX is "free" to buy vs. $35 to buy Vanguard). You might also be able to buy directly from vanguard.com ?
I have my cash in CDs and eTradeBank's savings account, and my "stocks" are all mutual funds: about 2/3 S&P500 (VFINX, SWPIX) and 1/3 "other" (JAWWX etc.).
The nice thing about mutual funds is that you can pretty much ignore them, and the S&P funds will over time do better than most stock traders. I'd rather use what free time I have reading a book or watching a movie than agonizing over some individual stock and when to buy or sell.