CNBC’s Jim Cramer on Monday rejected Warren Buffett’s assertion that the new retail investor of Wall Street was away from picking individual stocks to support investment in index funds.
“I respect Warren Buffett. But I’ll be Peter Lynch’s guy forever, “Cramer said on” Mad Money, “responding to comments from Berkshire Hathaway’s president and CEO. Cramer was fond of philosophy. Lynch Investments, a legendary investor known for managing Fidelity̵7;s Magellan Fund and investment book “One Up on Wall Street.”
Lynch’s philosophy is based on investors leveraging their ability to observe, study and act on stocks, Cramer said.
“That’s why I believe in the hybrid model. I don’t share Buffett’s insult for homeowners trying to pick stocks, and I don’t want you to invest in individual stocks,” he said.
Cramer made a list of retail stock ideas for investors to test Lynch’s principles.
“I don’t intend to keep it simple. If you want to invest like Peter Lynch, you have to visit these places or try anything that sparked your curiosity,” said Cram. Mercury advises viewers to read Lynch’s books. “But I think one or two of these new openings go well with the index funds in your retirement account.”
A Berkshire Hathaway spokesman did not immediately return a request for comment.
Disclosure: Cramer’s Charitable Trust owns Walmart and Costco stocks.
A question for Cramer?
Call Cramer: 1-800-743-CNBC.
Want to dive into the world of Cramer? Hit him!
Mad Money Twitter – Jim Cramer Twitter – Facebook – Instagram
Questions, comments, suggestions for the website “Mad Money”? Madcap@cnbc.com