I’ve mentioned Jim Cramer on this blog in the past, both here and here. And while I’ve always looked at his rants with mild amusement; some of his schizophrenic ramblings leave me perplexed; and I wonder if perhaps he’s doing more harm than good.
On the Today Show this morning, Jim cautioned viewers to take any near-term holdings out of the market.
"Whatever money you may need for the next five years, please take it out of the stock market right now” he said.
Sure, fine. Any funds that will be needed on a near-term basis shouldn’t be invested in risky investments anyway. However, it strikes me as interesting that while Warren Buffett appears to be following the old adages of “Buy low, sell high” and “Buy when there’s blood in the streets” with his investments in Constellation Energy, GE, and others; Cramer has shot into a sheer panic and is running for the hills.
Time will tell who is right; but if it were my money, I would wager on Buffett.
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