Hey, I'm Kramer.

Welcome to Mav Money.

Welcome to Kramer.

Other people and make friends.

I'm just trying to make you a little money.

My job is not just entertained, but to put it all in context, so call me at 1-800-743C

or tweet me at Jim Kramer.

I am constantly on this show telling you that discipline always trumps conviction. I tell it to over and over and over again. In other words, no matter how much you may love a stock, no matter how enthralled you are with the underlying story, if the rules say sell, sell, sell, sell it. One thing I've learned from my investing career, no matter how much you might believe in something, you violate the rules of the road at your own peril.

That's why we obey them religiously with the Channel Trust, and they become our core guide for this CMEC investing club, which I want you to be in.

But where the heck do these rules come from? It's not like they were handed down

from on high and carved into stone tablets. Hey, they're not the lowest five commanders for the history

of the world part one. They're not like the laws of physics. You can't just deduce them from

observing the way markets works so that you can do, say, gravity. No, the rules come from my experience.

That's right, from my experience.

I've spent over 40 years in this business, and in that time, you better believe I've learned some powerful lessons.

In many cases, I did have to learn them the hard way.

And because I don't want you to repeat my mistakes, because I want you to have the benefit of my whole career,

tonight I'm going to lay out some of the most important rules for investing, and they are indeed timeless. Some of this stuff may

seem basic, but again, you forget the rules in your own peril. Back on my old hedge fund,

I occasionally convinced myself that was okay to make an exception to have a cheat day, so to speak,

to ignore my discipline just as once.

For some reason, this seemed compelling at the time.

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