CNBC's Jim Cramer on Wednesday shared with investors how the sausage really gets made. Cramer shared the more unsavory aspects of the craft, the inevitable mistakes he said most money managers won't admit to making. "Money management is an art, not a science," Cramer emphasized. "I showed the genuine disappointment today that occurred when I refused to violate my basis, an important discipline for me, and pay up for more stock," Cramer said. "Mistakes are part of the business for everybody."

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Persons: CNBC's Jim Cramer, Cramer, he's, Stanley Black, Decker Organizations: CNBC, Club, CNBC's, Trust, Investing Club, Bausch Health Company