Ready for 2020?
Before we jump into the new year, let's take a look at the past. As always, Jim Cramer stresses the importance of reflecting on the good AND more importantly, the bad.
On TheStreet's live show, Cramer broke down his biggest investing mistake of 2019:
"My biggest investment mistake was believing--that with oil bottoming in the low fifties, which I thought it would--that somehow these stocks would be more involved with a commodity and they weren't. And that's because a lot of them are related to the Permian, where even though they cut back the rigs, they didn't cut back the amount that was pumping," said Cramer. "And I didn't think that the international oils, would not do a lot of drilling since they're supposed to be able to replace and they're not replacing. So it was Schlumberger (SLB) - Get Schlumberger NV Report and now the way I actually hopefully fix it as I double down and we think it's the low, cause there's a 5% yield. But you know, the misjudgment on the oil stocks, was made by a lot of people. And I'm wondering how much of my misjudgment directly has to do with the fact that the millennials don't want to buy those stocks. Millennial money managers either. So that was a bad misjudgment by me."
Wondering what Jim considers his biggest win of 2020? Hint: It has everything to do with his favorite dog.
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