Hey, I'm Kramer. Welcome to Bad Money. Welcome to Cra.Other people make friends. I'm just trying to make a little money. My job is not just entertain, but I'm teaching tonight.So, call me at 1800743 CNNBC. Tweet me at Jim Kramer. An individual stock can change your life.If there's one overarching theme of how to make money in any market, which today came out, this is the first day, it's that one stock can create tremendous wealth for you, provided that you own it for the long haul. You don't trade in and ou ...

Core Insights - The S&P 500 has delivered an average annual return of over 10.5% since 1957, indicating strong long-term investment potential [1] Investment Strategies - For long-term wealth building, stocks are generally recommended, but certain types of stocks should be avoided [2] - Investors are advised to avoid investing in stocks they do not understand, emphasizing the importance of comprehending the financial implications and risks involved [3] Recommended Resources - A suggested resource for beginners is "The Simple Path to Wealth" by J. L. Collins, which is considered a comprehensive guide to understanding investing [4] Meme Stocks - Meme stocks are shares that gain popularity through social media, often appealing to inexperienced retail investors [5] - GameStop (GME) is highlighted as a notable example of a meme stock, experiencing a dramatic price increase to nearly $500 in January 2021 before falling to around $10 per share in 2024 [6] - While meme stocks can offer significant gains, they are characterized by high volatility and are influenced by online communities, making them risky investments [7] Individual Stocks - Investors are cautioned against buying individual stocks, as this approach is likened to gambling and carries substantial risk [8] - The consensus is that attempting to pick individual stocks is akin to betting on a single company, which is not advisable even for seasoned professionals [9]