In the May Action Alerts PLUS members’ call, Cramer equated the discipline of investing to the discipline of playing blackjack. Does the dealer always win? You’ll have to watch the clip above to find out.
But Cramer and his AAP team are big fans of sticking to their “disciplines” — or the time-tested investment rules they have created.
One of them is “not willing to buy [more shares in a position] until the next buy is lower than the price [of the shares we previously purchased],” he said. Because their goal is to decrease their overall basis in each stock so, again, they stick to their rules.
And that is why their investing rules are much like a card player’s rules at the blackjack table.
So now listen in to hear why.
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