Posted by gabebristow on 14th of Oct 2009 at 10:32 pm
thought about this all weekend,” Cramer told Curry. “I do
not want to say these things on TV...Whatever money you may need
for the next five years, please take it out of the stock market
right now, this week. I do not believe that you should risk those
assets in the stock market right now"...
“I don’t care where stocks have
been, I care where they’re going, and I don’t want people to get
hurt in the market,” Cramer told Curry. “I’m worried about
unemployment, I’m worried about purchases that you may need. I
can’t have you at risk in the stock market.”
Still, those
with the assets — and the stomach — to ride out the stock market’s
ups and down over a five-year period might be best served by
holding their nose and holding onto their stocks.
“I think what
you have to do, if you can withstand it, is just ride it out,”
Cramer said.
Why does Cramer think you should get out now? Because the market
could decline 20% from here. That's possibly the worst
justification for selling medium-term holdings we've ever heard.
(The market could ALWAYS decline 20% from here. And it's already
down 35% from the peak.)
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here it is verbatum in Oct 08 ( ( misquoted but this still tells somthing)
Cramer
Posted by gabebristow on 14th of Oct 2009 at 10:32 pm
thought about this all weekend,” Cramer told Curry. “I do not want to say these things on TV...Whatever money you may need for the next five years, please take it out of the stock market right now, this week. I do not believe that you should risk those assets in the stock market right now"...
“I don’t care where stocks have been, I care where they’re going, and I don’t want people to get hurt in the market,” Cramer told Curry. “I’m worried about unemployment, I’m worried about purchases that you may need. I can’t have you at risk in the stock market.”
Still, those with the assets — and the stomach — to ride out the stock market’s ups and down over a five-year period might be best served by holding their nose and holding onto their stocks.
“I think what you have to do, if you can withstand it, is just ride it out,” Cramer said.
Why does Cramer think you should get out now? Because the market could decline 20% from here. That's possibly the worst justification for selling medium-term holdings we've ever heard. (The market could ALWAYS decline 20% from here. And it's already down 35% from the peak.)