Action Alerts Plus portfolio manager and TheStreet's founder Jim Cramer has learned a lot over his 30+ years of investing. So he created a list of 25 Rules for Investing that can help you avoid the novice pitfalls that even he fell into on occasion.
Like hoping that doomed stock you bought will come back.
Rule 17: Check Hope at the Door
But hope is not part of the equation, says Cramer.
So don't "hope" for anything. "Hope is emotion, pure and simple....And this is not a game of emotion," he says.
So save the hoping and praying for your religion and listen to Cramer talk about Rule #17. Because "remember, we don't care where a stock has been, we care where it is going, and it is most likely headed down if you are hoping."
And don't forget, we are rolling out one-rule-a-day until we get all 25 rules out! So stay tuned!
Sign up and watch Jim Cramer's 25 Rules For Investing here!
And for more Investing Rules, watch these:
- Jim Cramer's Investing Rule 13: No Woulda, Shoulda, Couldas
- Jim Cramer's Investing Rule 12: Cash Is for Winners
- Jim Cramer's Investing Rule 11: Don't Own Too Many Stocks
- Jim Cramer's Investing Rule 8: Buy Best-of-Breed Companies