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Investopedia explains 'Buy And Homework'
There are two main arguments that investors use against this strategy: people don't have the time, and if you hold on long enough, the stock will come back.
Cramer's argument for the first excuse is that if an investor does not have the time to spend researching each stock in their portfolio for at least one hour per week, they can hand off their portfolio to a professional manager (e.g., through a mutual fund).
The latter is even easier for Cramer to refute – just to look at a stock like Enron.
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