CNBC's Jim Cramer advised beginner investors, explaining that it's important to be intentional and put money into stocks you're familiar with.
Stock picking is not simple and requires substantial research, he said, stressing that it's essential not to shoot blindly. Instead, it's wise to invest intentionally and put money into stocks and sectors you're familiar with. Cramer recalled getting some of his first investing ideas from information he gleaned when working as a reporter covering mergers and acquisitions lawyers. He noticed heavy and continuous merger activity in the oil sector, with many smaller and midsize oil companies being bought up. So, he poured through stock research magazines, reading any information about oil stocks he could find.