CNBC’s Jim Cramer said Thursday that while investors should tread carefully as the stock market storm continues, they also shouldn’t be afraid to take steps to bolster their portfolios.
“We want to be very careful about buying stocks that have stories that can handle a slowdown. … A good portfolio manager never sells winners to fund losers, even if it is embarrassing. You have to give the losers a chance,”mad money‘ said the host.
The Dow Jones Industrial Average was down 0.33%. Thursday While the S&P 500 was down 0.13%. The technology-heavy Nasdaq Composite is up 0.06%.
He added, “But we are not satisfied, either way. We are very concerned about the destruction of wealth, for example, in cryptocurrencies. We are hanging our heads on the once great FAANG stocks. But we can never stop looking for an opportunity.” , he added. , referring to his acronym for Parent Stock on Facebook deadAnd AmazonAnd appleAnd Netflixthe father of Google the alphabet.
Kramer’s comments come after cryptocurrency saw a massive sell-off Shedding more than 200 billion dollars of the entire market in one day. Bitcoin It fell below $26,000 for the first time in over a year.
etherThe second largest cryptocurrency, it fell below $2000 for the first time in nearly a year. Terra . Project UST stablecoin It lost about 75% of its value On Wednesday before he won a bit while his sister token, Lunawhich has lost about 98% of its value over the past week.
Cryptocurrency investors view stablecoins as safe havens when the market is turbulent, but treasuries oscillate in value.
In his analysis of the stock market, Kramer emphasized its unpredictability, noting that Thursday seemed like the perfect opportunity to rally.
“The market should have rebounded strongly today because interest rates were low and there was no real bad news,” he said.
open an account now For the CNBC Investing Club to keep track of Jim Cramer’s every move in the market.
“Web aficionado. Travel guru. Zombie enthusiast. Proud music scholar. Social media buff. Internet fanatic. Writer. Pop culture expert.”