Four years ago on a fateful Monday morning in early October Jim Cramer was telling us if we needed our money in five years we'd better get out NOW. The market tanked that day, even though TARP had been signed the Friday before. The market kept tanking for 3 more weeks, in part because of Cramer's own televised statement on October 6, 2008. The market stabilized after that for a while, and then the market tanked some more in March 2009, and then came roaring back because of Federal Reserve interventions to the present day. Long term investors who stayed all-in through all that until now aren't quite fully redeemed from five years ago, but from four years ago they are, and then some. I'd rather still own the same stocks at this level in excess of 1400 today than have listened to Jim Cramer after S&P 500 at 1100 on Friday October 3, 2008 when George W. Bush signed TARP into law and sold into a sea of frickin' fallin' knives! The market has rebounded 27 percent nominal since that time, and if you missed that Jim Cramer owns some of the blame.
And now Jim's telling us to be patient in October, the month of "the willies", and start buying in earnest in January? Fear motivated Jim Cramer four years ago. Today? Not so much.
OK Jim. Whatever.
