LMFAO is topping the music charts with its single, “Party Rock Anthem.” But did you know that Redfoo, half of the musical act, is also topping the stock charts?
Redfoo was once a day trader. While he now spends his days wrapped up in the music business, he is still a dedicated investor.
And since Cramer’s fave song is “Party Rock Anthem,” it only made sense for Redfoo to join Cramer Friday to play a little “Am I Diversified?”
Redfoo’s interest in trading began when he was young, thanks to his father, Motown legend Barry Gordon.
“My father was really into it,” he said. “We would wake up in the morning and look at the markets.”
On Friday, he presented Cramer with his tech portfolio. And the one name in the center of it is Apple .
“Any products associated with a Apple are going to win,” he said. “The people who make the Apple products are going to win.”
That’s why in addition to owning AAPL, he owns STMicroelectronics, Marvel Technology and Broadcom. He also owns Google , because he sees it as the main competitor to Apple in the mobile space.
Thanks to the recent market movements, he has also decided to start playing it a little safer. On Friday he added AT&T to his portfolio because of its dividend. Now that he has been making money, he said, he doesn’t want to be as risky.
Cramer called the tech portion of Redfoo’s portfolio “fantastic,” and agreed having a more conservative dividend stock in the mix was important now that Redfoo is making money.
“You are an inspiration,” Cramer said. “I always feel that young people don’t realize that this is when they can take risk.”
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When this story was published, Cramer's charitable trust owned Apple.
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