Monday, December 17, 2007

Jim Cramer: Not So Mad After All?

I’ll admit it’s hard to see through the “boo-yah’s” and background noises that accompany every episode of Jim Cramer’s Mad Money. However, it seems he's changing: Forget the hoopla because he’s advocating buy and hold forever. His new book Stay Mad for Life is all about investing--not trading.

From BusinessWeek writer Ben Steverman:

"The new book Jim Cramer's Stay Mad for Life is a primer for saving and investing. It advises readers to pay off credit cards, make the most of 401(k) plans and individual retirement accounts (IRAs), and get the right kinds of insurance. The subtitle of the book, written with Cliff Mason: Get Rich, Stay Rich (Make Your Kids Even Richer)."

"Most people actually won't get rich by buying individual stocks," Cramer says. "Unless you do your homework, namely spending an hour a week researching for each stock you own, you won't beat the market, and you'll probably lose money," he writes.

In my experience, it takes a lot more than one hour a week to successfully trade individual stocks. Obviously, the more you research a company the more you'll understand and feel confident making a move; however, sometimes you have to get a little lucky too.

10 comments:

Cameron Schaefer said...

Just watch, if he takes this philosophy to television I predict his ratings will tank. People want what is sexy, they want to get rich quick, with one trade. No one likes to hear the "get rich slowly" message.

Akshay said...

Jim Cramer's scream fest always annoyed me and I'm totally surprised by the change. I agree with Cameron...I don't see him lasting long with this (sensible) message.

How's Alan Greenspan's book btw? Its amazing how he manages to stay in the picture with Bernanke in charge.

Brian Reese said...

The Greenspan book is great.... full of great info. It get's pretty deep though, but definitely worth reading

Andrew Pratt said...

I don't think you have to worry about him taking that philosophy to T.V. He assumes that everyone already does that sensible investing for the future. His show is for the smaller portion of your portfolio that you may choose to use for individual stocks. I can ignore the shouting and buzzing to learn something from one of the best investors the last 15 years.

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