Last week Jim Cramer appeared on CNBC, in his usual frantic manner, urging viewers to pull out of the stock market.
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…
On Monday afternoon, while stocks were rallying across the world, Cramer called an end to the crisis — five years earlier than initially expected, apparently. Via Cityfile.
I think this British plan, which basically is to nationalise the three biggest banks, kick out all the management, perhaps prosecute them for all we know, is the beginning of the end of the crisis.
Time to sell then?
To be fair (and somewhat confusingly) in the same segment, Cramer describes Monday’s rally as a short-lived bounce similar to those experienced during the Great Depression. He’s still eschewing stock markets.