CNBC's Jim Cramer advised beginner investors on how to successfully begin picking individual stocks.
Stock picking is not simple and requires substantial research, he said, stressing that it's essential not to shoot blindly.
Go small, invest in what you know, research intensely," Cramer said.
So, he poured through stock research magazines, reading any information about oil stocks he could find.
He compared individual stock picking to horse betting, saying investors shouldn't bet "willy-nilly on every horse in each race," but search for thoroughbreds and try to bet big on instances where a payoff seems likely.
Persons:
CNBC's Jim Cramer, Cramer, shouldn't, willy, nilly