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Jim Cramer's Real Money: Sane Investing in an Insane World
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Sales rank 42,220
Customers rating (based on 297 reviews)
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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.
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| Publisher | Simon & Schuster | | Release date | 03/2005 | | Availability | Usually ships in 24 hours | | Edition | Hardcover |
| | List price | $26 | | Our price | $17.16 (you save 34.00%) | | Used price | from $0.01 |
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Good book!
Another good book from Jim. It's an updated version of his earlier books. Good, quick read for those who enjoy financial trading, stocks, etc.
 Top 5 Money and Investment Books I have ever read
This is one of the top 5 books on Personal Finance and Investing I have ever read.
I'd put it up there with:
1.Multiple Streams of Income: How to Generate a Lifetime of Unlimited Wealth! Second Edition
2.Rich Dad Poor Dad: What the Rich Teach Their Kids About Money-That the Poor and the Middle Class Do Not!,
3.Think and Grow Rich: The Landmark Bestseller--Now Revised and Updated for the 21st Century
4.Real Estate Riches: How to Become Rich Using Your Banker's Money
Jim says
Picking Winners: A Horseplayer's Guide is actually the best investment book he ever read so I'll picking that up soon.
I actually read this before reading Confessions of a Street Addict, but I was so enamored with "Real Money", I began watching Jim on TV. I liked him on TV so much I went back to the beginning to read his first book detailing how he got into Wall Street, of which I have also reviewed and highly recommend. Since reading the book I have started trading options on many of my positions, as Jim says you need to "GET IN THE GAME". I also learned a lot about "cheap" stocks. I always wanted to buy Sun Microsystems because it hung out around $4 so I thought it was cheap. However, after reading the book I now understand that the stock's price is essentially meaningless. I now understand P/E ratio is much more important metric to pay attention too. P/E ratio is like the line in sports betting. It lets you see how much investors are willing to pay for each $1 a company earns.
While there is some broad theory in Real Money there are some actual steps you can take away, this is not just a story like "Rich Dad Poor Dad" I'd put it more along the lines of "Multiple Streams of Income" where the author says do this, and then gives concrete examples. The common theme among all the books listed above is that there is no short cut to riches. Jim hates "buy and hold" strategy, but loves "buy and homework" advising you to put at least an hour of work into each stock you pick and try to stay around 5 stocks for an average investor to have a balanced portfolio. He advises you to not hand your money over to a broker unless you have a 1/4 of a million otherwise they are just not setup to manage it effectively. Most brokers get paid based on how much they manage not how much they make their clients. Another tip is to always be looking at growth, if a company isn't growing the market will not respond favorably.
Understanding Sector Rotation is brought up on multiple occasions. In fact I liked the chart on Page 114 about sector rotation so much I made a copy and put it next to my desk so I could keep an eye on it every day. I can't state enough how great this book is and wish someone would have given it to me five years ago as this knowledge is very valuable. Plus it was easy to read as Jim comes from a journalism background, making many easy to follow analogies to sports and everyday living. I look forward to his follow up that just came out Jim Cramer's Getting Back to Even. No one will ever care as much about your money as you, so pick up this book you won't regret it.
Great book if you want to make money in this market
Tired of being ripped off by the "professional money managers" on Wall Street? This is the book you need to read. Cramer's bombast and antics on television annoy me, but in his books he shows his real gift as an educator.
I've been investing for twenty years, but I still liked it. Cramer explains what has changed in the marketplace and I've made money ever since I started following his principles.
Check it out in the library and if you like it, get a copy.
Review of Jim Cramers Real Money
I'm a viewer of Jim's Mad Money show. Jim's Real Money book is a great adjunct to the show as it explains the detailed insights every good investor needs so as to manage their own portfolio.
Jim's book provides examples outlining the discipline and steps needed to arrive at buy or sell decisions for individual stocks. Now, I have a professional understanding of having a well-reasoned "thesis," when I buy and sell stocks.
Jim devotes an entire chapter to creating your own "Discretionary Portfolio." Then he tells you how to trade this group of stocks to your best advantage, buying and selling according to market conditions. Jim calls this "trading around a core position."
I'm always trying to build a better portfolio. Last year I researched "core position" trading and found that it was not a new concept, but a method pioneered by Robert Lichello in his Book, How to make a Million in the Stock Market. In his book Lichello outlines his "AIM" method of buying low and selling high. It's basically a risk management model to be applied to your portfolio.
The fact that Jim preaches core position trading reinforces my confidence in Jim. I believe "core position trading," it to be a good way to control your portfolio risk and maximize your returns in a controlled method.
I appreciate and admire Jim Cramer's show and book. Jim has helped me to become a better investor. I'm now a believer of "buy and homework!"
"BOOYAH" Jim Cramer
Robert F. McLaughlin AIA, NCARB
Listen to this you book, you get a better feel for Cramer's energy
Well done audio book. Cramer's energy alone makes the most novice investor want to go take the stock market by the horns. His best lesson through the entire book is have a plan and do the homework if you are investing in individual stocks.
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