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This program was last aired on Aug. 24.
NEW YORK ( TheStreet) -- Anyone can turn a profit in the stock market, Jim Cramer told "Mad Money" viewers, if they're willing to put in the time and effort. Anyone can do it, but only if done the right way, he added.
That's why Cramer dedicated his entire show to the notion of long-term investing, a term that's gotten somewhat confusing over the years -- so much so that the notion of long-term investing has become one of the biggest obstacles for new investors. That's why Cramer said he's setting the record straight.Cramer said that too often the term "long-term investing" is used as an alibi or excuse for poor performance resulting from simply not paying attention. The term "buy and hold" often means "buy and forget," which is a terrible investing strategy. Being in the game for the long term does not mean investors can afford to take short-term losses. Nor does it justify owning damaged goods, hoping they'll recover "someday." Investors must always keep track of their investments, said Cramer, and fortunately it's never been easier to do. Whether its looking over SEC filings or searching the Web for the latest news and analysis, finding out what's happening at the companies you own is a necessity. There's no excuse for laziness, said Cramer, especially in an age where quarterly conference calls are only a click away. "Stocks are still the best way to make money," Cramer concluded, but the notion of "buy and hold" needs to become a thing of the past.