Funny, but after trading for more than 15 years, I still am capable of forgetting a cardinal rule: The paper you own, in the end, will be intertwined with the fate of the 30 year bond.
I made a small fortune. I made a lot of money and I made a lot of other people wealthy.
I think that stocks have been this tremendous, tremendous equalizer for people in this country. Guys who can't make a lot of money at their jobs have been able to make a lot of money in the stock market.
I think that there are changes that have occurred in technology that make is that more people can have the same level of information that I have. My advantage is that I'm very good at interpreting the information.
If you can't find the next McDonald's, I'll find the next McDonald's. But it's vital to be with people who with looking for 'em, because they do exist. They are created.
The danger that we have right now are people who get the same information as I do and, therefore, think they'll reach the same conclusions that haven't traded as long, don't have bear claws up and down their backs like I do.
The people who are buying stocks because they're going up and they don't know what they do deserve to lose money.
The way the credit cards were made in the '80s to be a people's form of capitalism and be able to make it so that you could get a loan that you would have been denied previous, now that's the way stocks are.
There are tons of people who are late to trends by nature and adopt a trend after it's no longer in fashion. They exist in mutual funds. They exist in clothes. They exist in cars. They exist in lifestyles.
There's accountability in the mutual fund industry. And they've been tremendous engines of wealth for people and they're going to continue to be so.
These will be fabulous investments and will make millions of more people rich.
When I come to work each day, whether as a commentator for TheStreet.com or a host of Mad Money With Jim Cramer, I have only one thought in mind: helping people with their money.
And, strangely, this one of the few things in life that the third, the latter, the buy with our eyes closed has actually done better than everybody else.
Well, he's just the same guy who in other aspects of his life would be very late to a trend.
I mean it's the most objective industry in the world. If your numbers stink, you're out. If your numbers are good, you get more money. It's the most Darwinian, it's beautiful, it's brutal, it works.