I went to check what was Cramer saying during 2000/2008 crashes to see how wrong often he is. He didn’t disappoint.
In January 2000, on the peak of the dot-com bubble, he was super bullish on tech that he wrote an article “To the moon” recommending to invest in tech stocks. Nasdaq dropped 80% and took 15 years to recover!
At the end of July 2008 , Cramer called the bottom. Specifically, he said the bear market was over and it was time to back up the truck. Guess what happened then ? SP500 tanked more than -37% before end of year.
Then in October 2008, he started yelling it’s time to get out of market and sell everything .. here’s his exact quote :
“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.
Whatever money you may need for the next five years, please take it out of the stock market right now, this week “
That was best time to start buying
So where we’re standing now?
At the end of March 2022, he said the bear market is over .. SP500 is down -20% since then
Disclaimer: This content does not necessarily represent the views of IWB.
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