Jim Cramer says that being willing to change your strategy on a dime is critical to maintaining the perfect portfolio.
Being willing to change your strategy on a dime is critical to maintaining the perfect portfolio, CNBC's Jim Cramer says.always tells investors that they need to be able to do two things before putting together their ideal portfolio: do the homework and defend your stock picks." host, doing the homework means knowing your stocks — and the underlying companies — like the back of your hand.
"What’s the most important thing for you to keep in mind? Above and beyond everything else, you need to know that your perfect portfolio won’t stay perfect for long," Cramer said. "Those five to 10 stocks you thought were winners? Yeah, unless you’re absurdly lucky, not all of them will stay winners."
There's no way to predict what unexpected circumstance can suddenly destroy your holdings. The only way to get around the pain is to stay on your toes and be willing to sell even your favorite stocks when things get rough, Cramer said.
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