Do this one thing before buying stocks

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The Investing Club Round Up

Here's what members got this past week!

A chance to meet Jim Cramer at the inaugural Annual Meeting for the Investing Club
Analysis on Salesforce's Benioff and his succession plans
Three investing lessons from Friday's Morning Meeting
Trade alerts on buying up more shares of this manufacturing giant and these two oil stocks
Jim's daily Morning Thoughts including analysis on the top 10 things to watch in the market
New episodes of The Homestretch giving a candid look at hot inflation data and stocks trying to rebound

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Cramer Says Do This One Thing Before Buying Stocks

I don't like mysteries. I like to solve them.

The first thing you must always do before you buy a single stock is to figure out your worldview.

I learned this worldview concept right when I left Goldman Sachs and moved to Michael Steinhardt's office in midtown Manhattan in the inauspicious year of 1987, the year of the stock market crash that became known as Black Monday.

Michael, an irascible sort, is a one-of-a-kind genius at running money. He took me in as a favor to a friend and seeded me with capital. It was a tremendous honor as he was such a pioneer in running big money, the first person to run billions of dollars long before anyone else.

I don't know why, maybe because he thought I was green but teachable, or at least courteous to people in the office, he agreed to review my work once a week. Mind you, I thought I knew what I was doing when I was picking stocks for people at Goldman Sachs in private wealth management. I had made a lot of money for clients and a ton of money for myself, enough to leave the firm and start my own hedge fund. But I yearned to learn from one of the original hedge fund greats.

Join The Investing Club to read the rest of my article, and get access to my daily analysis of the market right now, and how to use it to grow your portfolio.

-Jim Cramer

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