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Jim Cramer's Real Money: Sane Investing in an Insane Worldby James J. Cramer
Synopses & Reviews
How do we find hot stocks without getting burned? How do we fatten our portfolios and stay financially healthy? Former hedge-fund manager and longtime Wall Street commentator Jim Cramer explains how to invest wisely in chaotic times, and he does so in plain English in a style that is as much fun as investing is — or should be, when it's done right.
For starters, Cramer recommends devoting a portion of your assets to speculation. Everyone wants to find the big winners that can bring outsized gains, and Cramer explains how to allocate your portfolio so that you can afford to take this kind of risk wisely. He explains why "buy and hold" is a losing philosophy: For Cramer, it's "buy and homework." If you can't spend an hour a week researching each of your stocks, then you should hand off your portfolio to a mutual fund — and Cramer identifies the very few mutual funds that he'd recommend.
Cramer reveals his Ten Commandments of Trading (Commandment #5: Tips are for waiters). He explains why he's not afraid to compare investing to gambling (and tells you which book on gambling you should read to become a better investor). He discloses his Twenty-Five Rules of Investing (Rule #4: Look for broken stocks, not broken companies).
Cramer shows how to compare stock prices in a way that you can understand, how to spot market tops and bottoms, how to know when to sell, how to rotate among cyclical stocks to catch the big moves, and much more. Jim Cramer's Real Money is filled with insider advice that really works, information that Cramer himself used to make millions during his fourteen-year career on Wall Street.
Written in Cramer's distinctive turbocharged style, this is every investor's guide to what you really must know to make big money in the stock market.
"After telling the story of his own trading days in Confessions of a Street Addict, Cramer appeases fans hoping for advice on how to duplicate his success with their own investment portfolios. But not without some strong caveats: his approach requires devoting at least an hour a week to educating yourself about each stock you own. But since most pros are 'rank amateurs themselves,' anyone willing to do the work should consider getting in. Cramer breaks down the fundamentals of his investment approach, built on the twin principles of diversification and speculation: while most of your portfolio should contain reliables like oil, financials and blue-chip companies, 20% percent of your money should go toward a slightly riskier bet on a company's future ('owning a stock is a bet on the future, not the past'). He also explains techniques for figuring out when to buy rock bottom stocks and sell the ones that have hit their peaks. Cramer drills his main points over and over, which can get repetitive on the anecdotal level but reinforces the simplicity of his message: investing is for anybody willing to put the time into learning how to do it right. His enthusiasm should prove inspiring, and even investors on the wrong side of Wall Street's recent shakeups may find the courage to get back in the game. Either way, Cramer's radio, TV and print platforms are sure to make this one another hit." Publishers Weekly (Copyright Reed Business Information, Inc.)
"Cramer reveals how he made his money and distills his methods so that the average reader can understand them." Booklist
How do we find the hot stocks of tomorrow without getting burned? How do we fatten our portfolios without waking up one morning to find they've become bulimic? In this extraordinary book of investing advice, James J. Cramer — one of the best-known and most successful financial gurus in America — shows us how to binge on the goodies without completely ruining our financial health. Despite the recent boom-and-bust stock market, picking stocks that will pay large returns is still possible. The key, says Cramer, is to become a prudent speculator, an investor who takes risks wisely, Jim Cramer's Real Money covers not just the financial basics but also the psychology that causes some investors to succeed and others to fail.
"This book," says Cramer, "is the distillation of everything I have learned, everything that made me rich, and everything that could have made me poor." Jim Cramer's Real Money draws on Cramer's fourteen years of success running a hedge fund as well as the lessons he learned from talking to investors on his radio program Real Money with Jim Cramer. It covers everything from how to spot an undervalued stock to how to know when to sell a stock. And unlike every other investment guide, this one is written in Cramer's turbo-charged style and is nearly as much fun to read as it is to profit from. It's every investor's guide to having his cake and eating it, too.
In this extraordinary book of investing advice, one of the best-known and most successful financial gurus in America shows readers how to become prudent speculators--investors who take risks wisely.
About the Author
James J. Cramer is a cofounder of TheStreet.com, Markets Commentator for CNBC, and "Bottom Line" columnist for New York magazine. He is also the host of the nationally syndicated radio program Real Money.
Table of Contents
Introduction: The Art of Investing
1. Staying in the Game
2. Getting Started the Right Way
3. How Stocks Are Meant to Be Traded
4. Some Investing Basics
5. Spotting Stock Moves Before They Happen
6. Stock-Picking Rules to Live By
7. Creating Your Discretionary Portfolio
8. Spotting Bottoms in Stocks
9. Spotting Tops
10. Advanced Strategies for Speculators
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