Avoid this investing strategy—it’s a ‘road to disaster’
Jim Cramer can’t guarantee that following certain financial strategies will see you to a secure retirement, but he’s pretty sure of a few that won’t.
In the preface of his book, “How to Make Money in Any Market,” Cramer issues a few warnings about building long-term wealth. One is that your confidence “might be misplaced” if you plan on relying on Social Security to fund your retirement. Another is that betting on the outcome of basketball games is not a solid investing strategy.
“Third, and maybe worst of all, trolling the internet for ‘meme’ stocks like GameStop and hunting for short-term victories in the hope of long-term financial stability is an easy road to disaster,” he writes.
A “meme” stock is a stock that gains sudden popularity…
