Believe it or not, prudence is still a virtue, Jim Cramer told his Mad Money viewers on Wednesday. He reminded them that while bulls make money and bears make money, pigs are always euthanized.
In his 40 years on Wall Street, Cramer said he has learned some key lessons. The first is that no one got hurt by making a profit. You can bet with stocks. You can bet against stocks. But when you make some money, take it to the bank.
This is a difficult lesson for meme stock traders, who believe that selling is a sin and that anyone who charges is the enemy. But contrary to your beliefs, it is not a sin to make a profit on GameStop. (GME) – Get report, AMC Entertainment (AMC) – Get report or even Wendy’s (WEN) – Get report after Tuesday’s big gains.
“Buyer beware, “(buyer beware) reigns supreme on Wall Street, and while it may not seem likely, it is actually quite possible that you could lose it all if you are not prudent with your money.
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Executive Decision: CrowdStrike
In his first segment of “Executive Decision,” Cramer spoke with George Kurtz, Co-Founder and CEO of CrowdStrike. (CRWD) – Get report, the cloud security provider that reported strong earnings last week with recurring revenue growth of 74%.
Kurtz said that cybercriminals are very resilient and have now clung to the software-as-a-service trend to offer ransomware-as-a-service hackers. He said that these service providers, even novice hackers, have all the tools and techniques they need to implement and activate attacks on a scale we’ve never seen before. They even take a percentage of the ransom collected.
Hackers have also moved upward to target larger companies with sophisticated attacks that deliver big profits. However, for most attacks, older technology is still the target, as there are many holes to exploit.
CrowdStrike sets itself apart however, as it uses artificial intelligence and the power of the crowd to detect and protect against attacks faster than any other vendor.
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At press time, Cramer’s Action Alerts PLUS had no position in the listed stocks.