Cramer's 'Mad Money' Recap: Back to Basics

This is something investors should never do. Instead, he said, the "smart and humble thing to do" is to buy incrementally and "patiently wait for good entry points as you gradually build up your position."

People who buy a position all at once generally end up feeling stupid most of the time, and even worse, they end up making less money than if they'd been patient and bought incrementally.

Want more Cramer? Check out Jim's rules and commandments for investing by clicking here.

For more of Cramer's insights during the Lightning Round, click here.