Making money in this market requires rigor and passion — just not in equal parts
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The following passage was part of Jim Cramer's prepared introduction to Wednesday's June Monthly Meeting of the CNBC Investing Club. …
The following passage was part of Jim Cramer's prepared introduction to Wednesday's June Monthly Meeting of the CNBC Investing Club. I want to try to make sense of things that elude pretty much everyone these days. And, I think I know why that is. The stock market is enduring a tremendous tug-of-war between two often opposing forces: passion and rigor. The problem is that most passionate people think they are being rigorous, and most rigorous people have more passion than they realize. That's what's going on right now in tech, as I will show you in a moment, but also at the Federal Reserve, where new Chairman Kevin Warsh is about to give his first press conference Wednesday afternoon. There is a debate among the cognoscenti over whether we will have to raise interest rates once or even twice this year. Me? I think the Fed should either stay the same or get ready to cut rates at least once, when we see the decline in the price of oil filter through everything from dry goods to groceries to plastics, now that the war appears to be over. The rigorous are thought to favor hikes. The passionate folks, those who worry inordinately about those who are less well off, are dismissed as emotional dreamers. Recently, I spoke with Kevin Hassett, the director of the National Economic Council. He's President Donald Trump's main White House economic advisor. We interviewed Hassett on "Squawk on the Street" on June 5 after the Labor Department reported surprisingly strong employment numbers. …
Original source: CNBC Top News
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Americans · White House · Kevin Warsh · Donald Trump · Jim Cramer · Dollar General · Federal Reserve · Labor Department · Squawk on the Street