Jim Cramer says investors shouldn’t let a turbulent market keep them from finding ‘better opportunities’

CNBC’s Jim Cramer said Thursday that while investors should exercise caution as the stock market continues to be stormy, they also shouldn’t be afraid to take steps to bolster their portfolios.

“We want to be very careful about buying stocks with histories that can withstand a downturn. … A good portfolio manager never sells their winners to fund their losers, no matter how embarrassing. You have to give the boot to the losers” , said the “Mad Money” host said.

The Dow Jones Industrial Average fell 0.33% on Thursday while the S&P 500 fell 0.13%. The tech-heavy Nasdaq Composite rose 0.06%.

“But we are not complacent, anyway. We are very worried about the destruction of wealth, for example, in crypto. opportunities,” he added. , referring to its acronym for shares of Meta, parent of Facebook, Amazon, Apple, Netflix and Alphabet, parent of Google.

Cramer’s comments come after cryptocurrencies saw a selloff that caused the broader market to lose more than $200 billion in one day. Bitcoin fell below $26,000 for the first time in over a year.

Ether, the second largest digital currency, fell below $2,000 for the first time in nearly a year. Project Terra’s UST stablecoin lost around 75% of its value on Wednesday before gaining slightly while its sister token, luna, lost around 98% of its value over the past week.

Stablecoins are seen as safe havens by digital currency investors when the market is tumultuous, but the value of UST has swung.

In his analysis of the stock market, Cramer pointed to its unpredictability, noting that Thursday seemed like a perfect opportunity for a rally.

“The market should have rallied strongly today because interest rates were down and there was no real bad news,” he said.

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