Mad Money with Jim Cramer for Wednesday December 27

Mad Money with Jim Cramer for Wednesday December 27 2006. These are all of Jim Cramer’s stock picks that are a Buy! I bold my picks. Tonights show was about reflecting back and looking forward. Jim Cramer reviewed some of his mistakes from his book Jim Cramer’s Real Money: Sane Investing in an Insane World and also discussed the New mistakes in his current book Jim Cramer’s Mad Money: Watch TV, Get Rich. It was a show about Back to Basics which means learning from your mistakes! I think the Biggest point that Jim Cramer made was that we can’t just blindly follow stock picks or comments but to learn why he likes certain stocks or companies. Review that information and make your own assumptions and make sure not to blame him when he suggests a stock one week and then market changes due to news or a new emerging company and you don’t make a change.

A few of the new mistakes/statements:

1.”The only way you can really know if your stocks are going up is by doing the homework, Buy and homework, not buy and hold.”
2. “Every second that you spend wistfully wishing you’d made different decisions is a second wasted It’s just human nature: We want lots of money, and when we miss an opportunity or make a mistake, we can spend hours or even days beating ourselves up over it.”
3. “you have to discipline yourself so that you never, ever take a tip seriously.”
4. “I like to think that I’m universally loved, but people really tend to hate me when one sector is en fuego and I tell them to take some money out of it and spread it around because you can’t keep all your eggs in one basket” Key is to Diversify!
5. “The single most arrogant thing you can do as an investor is buy your whole position in a stock at once.”

Always do your own research as these are recommendations and I make no guarantees. No one cares about your money more than you do!

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