Stock pickers often say their craft is more art than science, but who knew you needed to do so much homework to make art?
CNBC’s Jim Cramer has been a stock picker for decades and his weeknight “Mad Money” show on CNBC has made him one of the most famous stock pickers in the world.
“You need to do the work if you’re going to own stocks. When I remind people that doing the homework means listening to conference calls, reading research reports, they want no part of it,” Cramer said.
“They look at me as if I’m some sort of old-fashioned teacher who’s asking for way too much in this busy 21st century world.”
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The internet has democratized markets to a certain extent and made Wall Street accessible to millions of new retail investors.
Many of those internet retail investors have turned on Cramer in recent months, making the comment section under his Twitter posts into a trolling section for people who bet the inverse of whatever advice Cramer gives.
However, the comment section under his new Threads post is much more civilized, with users actually discussing the topic at hand instead of mindlessly trolling the original post.
Earlier this month, Cramer called Twitter a “cesspool” and an “awful product” despite being an avid user of the social media platform for over 15 years.
“I think when I look at what the new Facebook, Insta has done, it’s made it so you don’t have the kind of hate that goes on. Twitter may have 300-plus million people, but those 300-plus million people are dissatisfied,” Cramer said.
Check out Cramer’s comments on Twitter’s culture below.
— Squawk on the Street (@SquawkStreet) July 5, 2023