TheStreet.com TV Recap: Swimming With the Shark

On a special edition of Wall St. Confidential, Jim Cramer sat down with author and RealMoney columnist James "Rev Shark" DePorre to discuss his new book and his winning strategy of how to make money in the current market.

"I've endorsed the book because it's perfect for any environment," Cramer said of DePorre's Invest Like a Shark. "But what's great is that we have a tough environment, and I think the book is extra special for that."

"The most important thing in this sort of market is not to be sucked into buying weakness too early," DePorre started off. "A lot of times I think the biggest mistake a lot of individual investors make is to average in too quickly and too fast."

DePorre said he knows Cramer's an advocate of doing that in the right circumstances, "but most individual investors don't adhere to a good scale," he said. "They do it too quickly."

Cramer & Shark: Invest Like the Best

Further, although there are many people who say that any form of trading is wrong, DePorre said it has not been his experience to buy stocks and stick with them through thick and thin. Investors should not be afraid to sell bad stocks, he said. They should take their stocks and look to make up their losses someplace else.