Cramer's lesson? Don't let a stock's actions dictate yours, especially if your thesis remains intact. You can't be greedy, but you also can't afford to be impatient at small market fluctuations.
Among his final sins, Cramer said he was wrong to think that
CEO Jamie Dimon was powerful enough to override his entire company. He said that not only was Dimon mortal, he was also incredible arrogant when a rogue trader in the company's London office made a huge mistake that cost it billions.
Cramer said he was also wrong for saying that
was a buy because it DIDN'T make chips for the iPhone and by not saying that
was a buy because it DID make chips for the iPhone.
Cramer admitted believing
CEO when he said things were going great, only to have the company report horrid earnings just weeks later. Also, Cramer thought
was morphing into an oil company, but clearly it was just an ailing natural gas company like all the others.
Finally, Cramer said he got the call wrong on supermarket chain
, a call for which he asked for forgiveness.
--Written by Scott Rutt in Washington, D.C.
To email Scott about this article, click here:
Follow Scott on Twitter
or get updates on Facebook,
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC