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‘I Screwed Up’: Jim Cramer Once Cried On Air Over Trusting Mark Zuckerberg, Then META Stock Tripled

via CNBC
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CNBC’s Jim Cramer publicly admitted to making a mistake by recommending Meta Platforms (META) stock, expressing regret for trusting the company’s management and its spending on metaverse endeavors.

Despite his apology, Meta’s stock value has since increased substantially, highlighting the market’s inherent volatility.

The situation serves as a reminder of the emotional challenges in investing. (Trending: GOP Rep. Mace Clashes Directly With Hunter Biden At Hearing)

“I made a mistake here. I was wrong. I trusted this management team. That was ill-advised. The hubris here is extraordinary, and I apologize,” Cramer said.

“I had thought there’d be an understanding that you just can’t spend and spend right through your free cash flow, that there had to be some level of discipline,” he said.

“I trusted them, not myself. For that I regret. I’ve been in this business for 40 years, and I did a bad job. I’m not proud.”

“Your great mistakes are selling a good company, and then it doubles, it triples, it quadruples,” Peter Lynch said.

“Ten years after [Walmart] went public, you could have bought the stock and made 500 times your money,” he said. “So you have to say to yourself: ‘In this stock, I have a 10-year story? A 20-year story?’ I’ll be able to write that down and follow that. That’s what I do.”

“We haven’t the faintest idea what the stock market is going to do when it opens on Monday — we never have,” Warren Buffett said.

“I don’t think we’ve ever made a decision where either one of us has either said or been thinking: ‘We should buy or sell based on what the market is going to do.’”

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