Hey, I'm Kramer.

Welcome to theADMoney. Welcome to Kramer. I'm friends. I'm just trying to make you some money. My job is not just to entertain, but to educate and to teach you to be a better investor. So call me 100-743-743 CBC or tweet me at Jim Kramer.

Tonight, I want to share some of my accumulated wisdom, and there's a lot to accumulate in

this business. There are so many different things you need to balance in order to be a great

investor that it can be hard to keep track of everything. Now, and a lot of this stuff is much

more important than the day-to-day

action in any particular session. This stock went up, this stock went down. Without the right

discipline, the right framework, the right, dare I say philosophy, you're going to get yourself

into trouble. And that's why we're all about discipline when we manage the charitable trust

for the CMEC investing club. It's why we constantly fall about discipline when we manage the Chabble Trust for the CNBC Investing Club.

It's why we constantly fall back on the rules and our investing guide to guide our decision-making for every kind of market.

And tonight, I'm going to share some of them with you.

But I know that the big picture of financial advice can be hard to process.

A lot of it's downright,

contradictory. That's a key word. We tell you to have conviction, to stick with the companies

you believe in, and then we say you need to be ready to change your mind on a dime if the facts

change. You need to be cautious, but you also need to be ready to pounce on opportunities

when they present themselves. You need to be skeptical, but you also need to know when to suspend your disbelief.

You need to avoid chasing stocks that have run too much, but you also shouldn't care too much

where a stock is coming from if you believe is headed higher.

Believe me, I get it.

If you take all my rules literally, you're going to be running around in circles while tearing your hair out.

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