Jim Cramer's Mad Money Stock Recap Nov. 22nd
Thursday's show was a recap of Cramer's show on Christmas of last year. He told viewers that faith did not cut it when being an investor, but that you have to be skeptical. Always consider the source making an announcement about a stock. He explained how and why he was qualified to be on a show giving his opinion. He said it is not just because he successfully ran a hedge fund for 14 years, because that is much different than investing on your own time. He said that it is not only because of his experience and because he works like a "dog" on the show, but because he played for the bad guys.
He said hedge funds are very predatory, especially with people like him. Hedge funds do nothing for society but help the rich get richer, said Cramer. He said if anything it takes away from the individual investor. He said now he works for the good guys and gives them the tips that hedge funds use to be successful.
Cramer said that when he graduated from college he wanted to be a journalist, not a money manager. He said his first investment was a huge failure, but he did not quit and kept getting better. He got his break when The New Republic's editor-in-chief Marty Peretz, after hearing numerous stock tips over Cramer's answering machine, gave him a check for half a million bucks and told him to invest it. Cramer said. This luck led to his hedge fund in 1987. He said he was working 18-24 hours a day and his blood pressure was very high. His family intervened in 2000 and he decided to leave the hedge fund, but kept writing for The Street, which he co-founded.
This led to Cramer starting Mad Money. He said it is not a scam. He said he is not even allowed to profit from his recommendations, only the viewers can. The show is not a get rich quick scheme, and it applies to a very diverse audience. He also said people should not expect to become market experts by watching the show, but that they have to put their homework and time in. You must be willing to commit an hour of research a week for each stock you own. He said that individual investors should own no more than 5 to 10 stocks. He said it is ok to put money in a mutual fund if you do not have enough time, but do your homework on the mutual fund and only be in one at most. If you have the time, forget about mutual funds, because they make their money of the fees they charge you. If you have the time, invest yourself.Labels: CNBC, hedge funds, Investors, Jim Cramer, Mad Money, Mad Money Lightning Round, Mad MOney Recap, mutual funds, thanksgiving
posted by Stock Administrator @ 10:31 AM
Jim Cramer's Mad Money Stock Recap Nov. 22nd
Thursday's show was a recap of Cramer's show on Christmas of last year. He told viewers that faith did not cut it when being an investor, but that you have to be skeptical. Always consider the source making an announcement about a stock. He explained how and why he was qualified to be on a show giving his opinion. He said it is not just because he successfully ran a hedge fund for 14 years, because that is much different than investing on your own time. He said that it is not only because of his experience and because he works like a "dog" on the show, but because he played for the bad guys.
He said hedge funds are very predatory, especially with people like him. Hedge funds do nothing for society but help the rich get richer, said Cramer. He said if anything it takes away from the individual investor. He said now he works for the good guys and gives them the tips that hedge funds use to be successful.
Cramer said that when he graduated from college he wanted to be a journalist, not a money manager. He said his first investment was a huge failure, but he did not quit and kept getting better. He got his break when The New Republic's editor-in-chief Marty Peretz, after hearing numerous stock tips over Cramer's answering machine, gave him a check for half a million bucks and told him to invest it. Cramer said. This luck led to his hedge fund in 1987. He said he was working 18-24 hours a day and his blood pressure was very high. His family intervened in 2000 and he decided to leave the hedge fund, but kept writing for The Street, which he co-founded.
This led to Cramer starting Mad Money. He said it is not a scam. He said he is not even allowed to profit from his recommendations, only the viewers can. The show is not a get rich quick scheme, and it applies to a very diverse audience. He also said people should not expect to become market experts by watching the show, but that they have to put their homework and time in. You must be willing to commit an hour of research a week for each stock you own. He said that individual investors should own no more than 5 to 10 stocks. He said it is ok to put money in a mutual fund if you do not have enough time, but do your homework on the mutual fund and only be in one at most. If you have the time, forget about mutual funds, because they make their money of the fees they charge you. If you have the time, invest yourself.
He said hedge funds are very predatory, especially with people like him. Hedge funds do nothing for society but help the rich get richer, said Cramer. He said if anything it takes away from the individual investor. He said now he works for the good guys and gives them the tips that hedge funds use to be successful.
Cramer said that when he graduated from college he wanted to be a journalist, not a money manager. He said his first investment was a huge failure, but he did not quit and kept getting better. He got his break when The New Republic's editor-in-chief Marty Peretz, after hearing numerous stock tips over Cramer's answering machine, gave him a check for half a million bucks and told him to invest it. Cramer said. This luck led to his hedge fund in 1987. He said he was working 18-24 hours a day and his blood pressure was very high. His family intervened in 2000 and he decided to leave the hedge fund, but kept writing for The Street, which he co-founded.
This led to Cramer starting Mad Money. He said it is not a scam. He said he is not even allowed to profit from his recommendations, only the viewers can. The show is not a get rich quick scheme, and it applies to a very diverse audience. He also said people should not expect to become market experts by watching the show, but that they have to put their homework and time in. You must be willing to commit an hour of research a week for each stock you own. He said that individual investors should own no more than 5 to 10 stocks. He said it is ok to put money in a mutual fund if you do not have enough time, but do your homework on the mutual fund and only be in one at most. If you have the time, forget about mutual funds, because they make their money of the fees they charge you. If you have the time, invest yourself.
Labels: CNBC, hedge funds, Investors, Jim Cramer, Mad Money, Mad Money Lightning Round, Mad MOney Recap, mutual funds, thanksgiving
posted by Stock Administrator @ 10:31 AM
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