Jim stresses the notion of stock ownership and not love. While many of us think that we actually own a piece of a company when we own stock, Cramer takes exception to this idea.

While you own a small part of the company you really own very little. This is a good thing as if the company goes broke we stand to lose only our investment and are not responsible for the debt. Given this fact we can be assured of never owing more than we invest. More than buying a piece of the company, we are loaning the company money in exchange for an interest.

Jim Cramers next concept repeated throughout is buy and homework. Jim believes the idea of buy and hold is long dead and should be abandon by all investors. Instead he thinks we should take an active role in the management of any stock and make decisions on selling based of study. Each week we should be spending at least one hour per week researching every stock that we own.

Of course he goes on to tell us what that research is: reading the news articles, looking at the balance sheets, listening to conference calls, and studying the charts. By doing this we can make good and rational decisions about when to buy and or hold a stock.

Jim cramer's books are full of clear and practical advise like this that is easy to follow. More of his personal trading rules are talked about as well as which stocks to buy depending on where the economy is.

If you don't have the time or don't feel certain that you can make the best investment choices, consider subscribing to a service like Action Alerts Plus where an expert like Jim Cramer is doing your research for you and all you have to do is buy and sell when they tell you to execute the trade. The tips and advise offered in Action Alerts are invaluble and only add to the valuble information in the books.

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