Conniptions over Cramer miss the mark

There are at least two critical parts to making money in the stock market. The first, the obvious one, is picking stocks which will do better than the market. The second, less obvious side is deciding how to prioritize your picks. How big a bet do you place on this position in your portfolio versus another? Legg Mason fund manager Bill Miller often cites poker legend Puggy Pearson that gambling is all about knowing the 60/40 end of a proposition and managing your money. Figure out how much the odds are on your side and bet accordingly — big advantage, big bet, small advantage, small bet.

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