Up 147% since the March 2009 low of about 16.60.
Don't forget, Jim Cramer told you on NBC, the Obama network, the Monday morning after TARP was signed the previous Friday in early October 2008, to sell if you needed your money in five years.
His statement materially contributed to more panic selling and the market lows. Within weeks the market plunged even though TARP was supposed to restore confidence. By the following April the percentage of the public claiming to own stocks had fallen a full five percentage points from the previous April before the crisis began, according to Gallup, an unprecedented decline of confidence. And the decline has continued another full five percentage points since then.
Let's look at the lows by year as reported by Vanguard, remembering that on Friday, October 3, 2008 VTSMX, a proxy for the total market, closed at 26.62, before Cramer opened his big yap:
Nov. 20, 2008 = 18.00 (a decline of 32% from October 6 when Cramer said "sell"; thanks Jim)
Mar. 9, 2009 = 16.43 (over 38% down after Cramer opened his yap; what's another 6 points, huh?)
Jul. 2, 2010 = 25.36 (this low is already back up to within less than 5% of the pre-Cramer level)
Oct. 3, 2011 = 27.16 (this low for the year firmly 2% above the pre-Cramer level)
Jan. 4, 2012 = 31.75 (this low for the year almost 20% above the pre-Cramer level).
In other words, you had all your money back in three years to the date, despite the damage Cramer caused.
But what if he had just shut up? And what if we just hadn't listened?
In other words, you had all your money back in three years to the date, despite the damage Cramer caused.
But what if he had just shut up? And what if we just hadn't listened?
