There used to be an understanding in the stock market that stocks could be here today and gone tomorrow, but Jim Cramer finds that is not the case anymore.
"We've gone well beyond that," the "Mad Money" host said. "Those days are long over, and if you recommend a stock for a trade, even if you say, 'Buy it today for the analyst meeting and sell it tomorrow,' there will always be a YouTube video kicking around that shows you liked the stock but never gave it the 'sell' call."
That is why Cramer wanted to explain the concept of suitability — an idea that suggests certain stocks are right for some investors, but wrong for others.
Cramer thought it was obvious that stocks came with no guarantees until a Goldman Sachs executive explained the worth of knowing what an individual investor wants to Cramer, then an incoming summer intern at the bank.
That opened the "Mad Money" host's eyes to the importance of risk tolerance. Clothes, cars, devices and houses either come with some level of insurance or can be returned. Stocks cannot.
So Cramer decided to go through the investments suitable for investors of all ages, starting with the youngest of the young.