CNBC’s Jim Cramer said Thursday that while investors should proceed with caution as the stock market continues to be stormy, they shouldn’t be afraid to make moves to strengthen their portfolios either.
“We want to be very careful about buying stocks with stories that can handle a slowdown … A good portfolio manager never sells his winners to finance his losers, even if it’s embarrassing. You have to start the losers.” the “crazy money“said the host.
The Dow Jones Industrial Average fell 0.33% on Thursday while the S&P 500 fell 0.13%. The high-tech Nasdaq Composite was up 0.06%.
“But we are not complacent, either way. We are very concerned about the destruction of wealth, for example, in cryptocurrencies. We hang our heads on the once great FAANG stocks. But we can never stop looking for opportunities,” he added. referring to its acronym for Facebook-parent shares A half, Amazon, Apple, Netflixand Google parent alphabet.
ether, the second largest digital currency, dropped below $ 2,000 for the first time in nearly a year. The Earth project VAT stable currency it has lost about 75% of its value Wednesday before earning slightly while its twin token, moonit has lost about 98% of its value in the past week.
Stablecoins are seen as safe havens by digital currency investors when the market is tumultuous, but UST has faltered in value.
In his stock market analysis, Cramer pointed to its unpredictability, noting that Thursday looked like a perfect opportunity for a rally.
“The market should have rebounded strongly today as interest rates had dropped and there was really no bad news,” he said.
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