with Chris Murray, Catharine Fairley and Brad Young Have a financial question? Ask the experts. Send your question to A generation ago, small investors could invest in quality stocks and get an excellent return over time.

Today, fluctuating market conditions complicate that philosophy. What can investors do? CHRIS MURRAY: I think we still have the same vulnerabilities today as we have ever had (recession, war, corruption, over regulation, etc.

), the difference is information travels almost at the speed of sound and our reaction time is affected. So the good old days of a slower pace are gone. Also, the twist on how that information is delivered must be taken into consideration.

I think people do have short memories and forget that everything associated with business and finances does cycle around and there are peaks and valleys. The fact remains that you must know why you are investing, what your true risk tolerance and time-frame is and what you want your wealth to do for you and your family. Once these types of issues are determined, then solid policies and strategies can be designed and implemented to achieve that "return over time" you referenced.

CATHARINE FAIRLEY: Investors can still do well in a fluctuating stock market if they follow a few simple rules. Develop an investment strategy, including a sound asset allocation and diversification plan, and stick to it. If you are investing a large amount of cash, dollar-cost-average your money into the stock market.

If the market falls, stocks will be on sale, so consider accelerating your buys (the "buy low-sell high" adage). A portion of your portfolio should be invested in international markets to help offset domestic equity risk. And never invest what you cannot afford to lose in the next five years.

Market cycles tend to last five to seven years. If you invested in stocks in the first place, you should be prepared to "buy and hold" through down cycles. BRAD YOUNG: Today’s investing environment is definitely more sophisticated than it was a generation ago.

Even so, small investors have many more opportunities today than they did back then. With mutual funds, small investors have the opportunity to diversify their investment and to be able to add to it without significant costs. They can add small amounts to their accounts and not pay the fees to trade individual stocks.

If they do want to trade individual stocks, with on-line accounts today they can do that much cheaper than they could back then. The one true principal that applied then and still today is that investing in stocks is a long-term proposition. Markets will be volatile and you should not invest in them unless you can commit to stay in long-term.

Time is the biggest safety factor when investing in the market. The longer you can stay in the more likely you will have positive results. The other difference today is access to information, with the internet; many investors can do research and make good decisions about investing.

The access to information is limitless. That also can be a downside in that having too much information makes it tough to make decisions. For those that do not want to make their own decision, they should seek out a qualified financial advisor and let them help!