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CNBC’s Jim Cramer on Wednesday offered investors a mental framework to make buying high-flying stocks easier to stomach.
“In a hot market ... you needed to have the discipline to pay up for great stocks to avoid missing out,’” the “Mad Money” host said.
Cramer described a lesson from earlier in his career, when a trader he worked with would “divide stocks by 10” to reframe their prices and make it easier to commit to high-momentum names. Using Bloom Energy
as an example, he noted that a $230 stock can be thought of as $23, making it psychologically easier to pay a bit more to ensure you get in.
