Cramer's 'Mad Money' Recap: Stay Ahead of Money Managers

Click here for an archive of Jim Cramer's Mad Money recaps.


Is this a bull market or a bear market?

Jim Cramer told the viewers of his "Mad Money" TV show that it's neither, but it is, however, a great opportunity to make money.

Cramer said his philosophy is different than that of most money managers, who promote "buy and hold," and tell investors to always stay fully invested. Cramer's philosophy is "buy and homework," --- i.e., buying stocks, keeping an eye on them, and selling them when conditions change.

That's why in September, 2008, at Dow 11,000, Cramer told investors to sell, and reiterated that call in October 2008 at Dow 10,000. That's also why he advised investors to buy in the second week of March so they could catch the beautiful 21% rally.

Cramer told viewers to be skeptical of the money managers they see on TV and read about in the papers. He said these managers are largely bias, and while not all are bad, their incentive is to keep investors in the markets and generating commissions.

After a long career as a broker, a hedge fund manager and now a charity portfolio, Cramer said he's just looking out for the little guy, trying to help them avoid big losses. The other guys, he said, never admit they're wrong, they're just "early."

Cramer told viewers candidly to sell some of their big gains this week on Monday.

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