A Business Lesson for Communication Majors from Jim Cramer

Business majors shouldn’t be the only people having fun with money!

Although communication majors go to school to do “dumb artsy” things we shouldn’t be afraid to get informed and jump into the investing arena.

Jim Cramer from MSNBC’s Mad Money will share with us a few investing tips so when we enter the “real world” we too can be rolling in the green.

Here’s how to start making Mad Money:

Should we be optimistic about money?
I’m advocating that stocks are great – I mean multi-year great. I see many years of tremendous opportunities to make money outside of your paycheck… I want to emphasize that people should be investing furiously from when they are 15 to when they are 65.

Does the internet make it easier or harder to get in on the ground floor?
Much easier. We live in a post Google generation. For example, I wanted to invest in companies that buried phone lines in the ground after the terrible blackout that occurred four years ago. All I had to do was type “who buries phone lines” into Google. Any hunch you have, you can use Google to solve. You can make money by using your eyes and going to the Web to get confirmation. I see Buffalo Wild Wings at five campuses. Then I go to five more campuses and don’t see them. Well, hold it! There’s opportunity for growth here. Or I recognize that I use me AmEx card a lot more than I used to. Is that something everyone else is doing? Everything is so accessible. It’s your fault if you can’t pick a good stock. People in their 20s are now the trigger customers. Youth plus Google equated a sense of “I know what people are buying in the real world, and I can go buy their stocks and make money.”

Any last advice on what men should do with their money?
I want people in their 20s to be absolutely reckless with it – at least in the terms that the naysayers on on Wall Street use. Play your hunches. Buy the wildest stock. If you are wrong you have the rest of your life to make the money back. But you could always hit the proverbial home run and be set for life. There aren’t lottery tickets. There’s no one winner. There are lots of winners. If this were the NCAA tournament, you’d be taking a chance on the 16th seed.

There you have it! Use these tips wisely – Play your hunches and don’t be afraid to take risks.

* Q&A reprinted from Maxim Magazine

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