Jim Cramer explains the dangers of making investment decisions before listening to the conference call.
Reacting to the headlines to make investment decisions can mislead investors that are "trigger happy," the"Don't buy or sell anything based on earnings until you've listened to the actual conference call," he warned., which, after posting weaker-than-expected quarterly earnings, sold off $3 before closing up $5 on Tuesday. Investors that took a risk and bought shares on the weakness made as much as an $8 swing, he said.
"During earnings season, the headlines come so fast and furious that I think a lot of those headlines are written by machines. They're not great at capturing nuance," Cramer said. "If you waited for the conference call, you would've hurt management say they were disappointed about some line items, but generally they told a story of growth, despite rough conditions."
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