The EU opened a formal investigation into Amazon on Wednesday centered on how the e-commerce giant uses merchants' data.Technologyread more
Analysts and investors are keen to find out how looming interest rate cuts will impact the second biggest U.S. lender by assets.Financeread more
IAC is set to invest $250 million in Turo, a peer-to-peer car-sharing firm that is often referred to as the "Airbnb for cars."Technologyread more
U.S. officials see the deal as a threat to NATO, for which Turkey provides the second-largest military.World Politicsread more
Google's services have been blocked in China for several years, but the company still has a business there, as the tech giant seeks to sell products to Chinese firms in...Technologyread more
China may have signaled it's going more hard-line on trade, but it could be a good thing, former U.S. negotiator Clete Willems told CNBC.World Economyread more
Support for U.S. President Donald Trump increased slightly among Republicans after he lashed out on Twitter over the weekend in a racially charged attack on four minority...Politicsread more
While the vote served as a show of solidarity for Democrats, it recommended no substantive penalty against Trump.Politicsread more
Barney Frank, former chairman of the House Financial Services Committee, says that significant progress has been made to reduce the amount of imprudent household lending in...Invest in You: Ready. Set. Grow.read more
Facebook's cryptocurrency project has already been met with skepticism from policymakers around the world.Technologyread more
United's Optum is launching a new partnership with John Muir Health aimed at helping the small northern California hospital operator become more competitive with its larger...Health and Scienceread more
Just because George Soros is rich, famous and likes gold, doesn't mean it's time to sell. In fact, Jim Cramer is getting sick of hearing from negative billionaires.
"They aren't the stewards of your capital. They aren't the be-all and end-all. They are simply people with a worldview that they are sharing with the media, so you shouldn't be blinded by the billionaire limelight hoping it will shine on you," the "Mad Money " host said.
Cramer has done his homework on Soros and couldn't recall a time when he wasn't negative about pretty much everything. If someone is negative about stocks, it makes sense that they would want to own gold.
Often investors use gold as an insurance policy against economic chaos, because when stocks go down gold tends to rise. Cramer has always recommended that having some gold exposure is a good idea through either bullion, the GLD ETF or Randgold Resources.
While Soros certainly deserves respect for his long-term track record, at the end of the day, Cramer reminded investors that he doesn't manage their portfolios.
In reality, Cramer thinks someone only needs to get rich once. There is no reason to take a chance on the next Facebook, Regeneron or Amazon if you are already worth $23 billion like Soros. Thus, owning stocks is crazy and risky.
That is why Cramer urged investors not to take the advice of someone just because they are rich. That kind of reasoning could easily lead someone astray.
"The last thing Soros needs to do is find a new idea that might make him a fortune. He already has a dozen fortunes. Yet the same idea could be very important to homegamers like you," Cramer said.
Other than Warren Buffett, Cramer couldn't think of another rich investor that speaks to the media and is actually very sanguine about stocks. They tend to have a very negative outlook on stocks and the global economy.
"Do your own homework, come up with your own ideas and if you like them, buy some. Even if George Soros is negative on the world," Cramer said.