The book "Real Money" is well written and easy to understand. I agree with perhaps 50% of the content and wonder what the accuracy ratio would be if it were fact checked. One of the concepts that I disagree with is to buy stock in 25 share increments. This doesn't seem feasible to me, but I am sure that the broakage house's LUV this concept. If you only have a 25 share confidence level perhaps you should not buy the stock at all. Still for the novice investor it is a good start for basic understanding of the pros and cons of stock market investing. Now to be fare, a concept that I do agree with is to learn as much as you can about the company before you buy their stock and check up on them on a regular basis. All and all it is well worth the read if you have the time.
Cramer lost a fortune but made a bigger fortune in the stock market. He's been through it all. He appears to be a big time risk taker; nevertheless he's one of the shrewdest cats in Wall Street. All of his investments are well studied and calculated. Perhaps the best advice I got from Cramer is "when to sell." In keeping with his sell philosophy, I never fall in love with a stock; I put an automatic stop loss at the time of purchase of about 10% to 15%. If I make more than 40%, I sell. Most important, I do more fundamental research and trackiing of stocks I have or want to buy.
Everyone interested in the stock market knows who Jim Cramer is. He's that guy who yells on TV, throws his chair and rips off the heads of foam bulls. Kind of like how Ozzy got famous for biting off the heads of bats (hey, he needed rabies shots that one time). If that's what you think Cramer is about, then you really need to read this book. First thing, this guy is incredibly smart. In this book he does an excellent job of passing on his knowledge and the trading strategies that made him money in the hedge fund business. He doesn't repeat the same stock market aphorisms that most investing books throw around. His ideas are original and practical. Most people think he's all about speculation. That's just not true. He starts off with his own brand of asset allocation; 4 high quality stocks and one speculative stock per portfolio. He then goes into an easy to understand discussion about what he means by "buy and homework". He may scream that on TV, but to understand it, you need to read it here. On page 115 he gives, arguably, the most valuable chart in stock market investing. It's the "Cyclical Investing and Trading" chart that tells you what types of stocks to buy depending on where we are in the the economic cycle and what the federal reserve is doing. You just can't get this kind of information anywhere else. Go to a book store and pull the book off the shelf - look at that page for a while - you'll see what I mean. Another feature of this book are his rules of trading. All very good and while you may have heard of some of them, maybe even came up with some on your own, it's best to have them in front of you in plain English when you're trying to make a buy/sell decision. If you go back and look at all of your unsuccessful trades, I guarantee that you'll find you violated one of his rules. Ok, so what about negatives with this book. It's a bit disorganized and disjointed. Some parts need to be read several times before they are fully understood. As you read it, you may find that he leaves you hanging in some spots. Don't worry, as you read on, he will finish what he started, just not in the order that you expect.Read full review
This book is great. Real Money is the perfect book for anyone, even people who aren't savy investers will feel secure investing after reading this book. Jim Cramer gives a better view on investing, he explains that you have to be ready to make mistakes, and that you must not give up. Unlike lots of other investing books, Jim Cramer keeps it real and interesting explaining how he got where he did, and who helped him get there. The book is not just another book that says, do this, do that, this book gives an explaination and lets you make your own decisions on what to invest in. I guess the best way to describe this book is that it is a guideline for smart investing, while at the same time, it is an amazingly interesting read. I loved this book so much, and it helped me in so many ways, that i am currently reading through Jim's Other book "Confessions of A Street Addict", I will post a review of that once i have finished it. All in all, this is an A+ book, one i will read again and always consult when i have a question, if you ask me, you should get it if your interested in a different approach to investing. Hope it Helps, -JackRead full review
Jim Cramer has a talent for making an otherwise boring subject, interesting. There is money to be made in the stock market and he explains in an easy to understand style how the average individual can profit. This book lays out most of the basic premises behind his philosophy, though I recommend reading "Mad Money" also to get the full picture. His investing premises make a great deal of sense in relation to the world as it is today. Cramer has a way of getting you interested and passionate about investing, and of course if you're interested and passionate about something, you'll do better at it.
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