economy
Cramer: How words of wisdom from Gene Hackman help me make peace with investing mistakes
This is an excerpt from the CNBC Investing Club's August Monthly Meeting, which was held Thursday.
TL;DR
- Jim Cramer details two major investment mistakes: Nike and Honeywell Aerospace, which resulted in significant financial losses.
- He contrasts these mistakes, noting that the Nike loss stemmed from underestimating the company's underlying issues despite insider buying, while the Honeywell Aerospace loss felt like being misled by management.
- Cramer shares wisdom from the late actor Gene Hackman, who advised that 'sometimes you just get had,' a phrase that helps Cramer come to terms with unavoidable investment failures.
- The article highlights the importance of transparency in investing and learning from errors, contrasting Cramer's approach with that of traditional hedge funds.
- Cramer expresses frustration with Honeywell Aerospace CEO Jim Currier for a massive earnings miss that blindsided investors.