Compared to stocks, bonds may not have its name in lights compared to their more popular capital markets brethren, but former hedge fund manager and television personality Jim Cramer says that good investing requires a solid understanding of the fixed-income market.

“Look, I know the bond market is boring, … but it’s much larger than the stock market, and more importantly, it’s very important to the overall direction of stocks,” the “Mad Money” said Cramer.

A CNBC article made mention of Cramer’s time as a hedge fund manager when he would dial into into the office with the same question while away from his desk: “Where are the bonds?”

“That’s how much it mattered to me on a day-to-day basis,” said Cramer. “Yet stock market investors seemingly forget the bond market all the time. It’s simple: if the bond market competition gets more attractive, the stock market gets less attractive; this is indeed a zero-sum game.

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