Another Day, Another Fall
Ouch.
Here we are as of 2pm EST:
The fall is rather spectacular for it’s depth, even in the wake of a the massive bailout recently passed. It’s led some well-known investment experts to cry the sky is literally falling. According to Cramer:
“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.”
My thought: calm down. Investing in stocks should only be done for the long term - you should already have a cash reserve, and any money you need in the next five years should never be in the stock market in the first place.
[...] Now, take that investing advice with a grain of salt. If you’re going to invest in the stock or bond market, you need to be totally comfortable with not seeing that money for at least five years. [...]
Depression or Recession? | Earn What You Spend
8 Oct 08 at 9:42 pm
[...] Here’s the video of Cramer telling us to take our money out: [...]
Jim Cramer Speaks | Earn What You Spend
8 Oct 08 at 11:42 pm