Jim Cramer's nephew gives awful advice too

[emon87]

So Jim Cramer's nephew, Cliff Mason, managed to land a staff reporting job right out of college with TheStreet.com. And he wasted no time in giving awful advice. Young Ones, Go Forth and Speculate

Some great gems:

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Being an investor in your 20s is totally optional, but if it's something you want to do, as opposed to something you believe you ought to do, then take my advice. Unless you actually have a pretty large amount of money that you're interested in preserving, you should take on as much risk as possible. Buy small-cap stocks that trade under $10, have little analyst coverage and a reason to go higher. In a word: Speculate.

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If you're trying to earn a respectable 10% return without taking too much risk, you might as well stop wasting your time.

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To be clear, if you're buying stocks in your 20s, you shouldn't be investing to gradually build up your "nest egg," a phrase that for some reason grates on me like the sound of fingernails scraping across a chalk board. This is the typical route followed by most personal finance gurus, and as far as I'm concerned, it's a dead-end.

With maybe $2,000 to invest a year, you won't make serious money in the market unless you take enormous risks.

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And where did he get these ideas from?
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I'm not alone in recommending that young people speculate. Cramer advocates speculation because it's fun.

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But Cramer still has to be the voice of age and responsibility. If he comes out and tells everybody under the age of 25 to put all the money they have invested into speculative stocks, he'll get crucified.

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I wonder why that is?