I have never for a minute felt in was my stock picking abilities. I feel that my stock picking abilities aided- I was able to pick out which are the good stocks in the good market, but I have been blessed with a great market.
We are all wrong so often that it amazes me that we can have any conviction at all over the direction of things to come. But we must.
What I'm saying is that there are bargains right now, there are stocks right now that if you're shrewd enough, you will be able to buy them at the opening today and I you'll make money in a year from now.
The danger that we have right now are people who get the same information as I do and, therefore, think they'll reach the same conclusions that haven't traded as long, don't have bear claws up and down their backs like I do.
When I come to work each day, whether as a commentator for TheStreet.com or a host of Mad Money With Jim Cramer, I have only one thought in mind: helping people with their money.
The way the credit cards were made in the '80s to be a people's form of capitalism and be able to make it so that you could get a loan that you would have been denied previous, now that's the way stocks are.
I mean it's the most objective industry in the world. If your numbers stink, you're out. If your numbers are good, you get more money. It's the most Darwinian, it's beautiful, it's brutal, it works.
The corporate killer downsizing is directly responsive to what the mutual funds have wanted.
I want to buy them, because historically these have been great engines of enrichment for the middle class, 'historically' meaning now for a good ten years.
I think that stocks have been this tremendous, tremendous equalizer for people in this country. Guys who can't make a lot of money at their jobs have been able to make a lot of money in the stock market.
I think you'll do as well as most professionals. Most professionals don't beat the market. Let's not over-rate my industry. But if you have time, you can be in good mutual funds that have good records.
We typically hear numbers that there are 34 million households that are in stocks in some form. Well, I say that what's occurred is if you have a job in this country, you're in stocks.
The mutual fund industry provided the money for Intel and Motorola and Hewlett-Packard to crush the competitors.
I think that there are changes that have occurred in technology that make is that more people can have the same level of information that I have. My advantage is that I'm very good at interpreting the information.
There are tons of people who are late to trends by nature and adopt a trend after it's no longer in fashion. They exist in mutual funds. They exist in clothes. They exist in cars. They exist in lifestyles.
It's the company itself, but most of these mutual fund companies, the guy who runs the company is just a fact totem and the guy who runs the money is the power. But we really don't know who they are.
There's accountability in the mutual fund industry. And they've been tremendous engines of wealth for people and they're going to continue to be so.
The party line is that stocks historically have outperformed all other investment plans.
I don't think that's changed at all. I think there are a thousand stocks out there that could make you rich, totally independent of what you do for a living.
The people who are buying stocks because they're going up and they don't know what they do deserve to lose money.
