Jim Cramer of CNBC said Monday that investors willing to resist the current market should swap their nonprofit shares for stocks that have a cheap estimate and better-than-average growth rates.
“I’m not advocating staying in the market, as much as I want you to take some losses and exchange them for better stocks that can be returned because their losses are just collateral damage … Those who can do things send you money back,” the manager said. Mad Money “.
“I say you have now invested some cash in tangible stocks that are growing at a reasonable price. … As for former high-flyers, if you still own them, I recommend selling them quickly and upgrading your portfolio to something that better suits this difficult moment, “he added.
Shares fell on Monday, with the Dow Jones Industrial Average falling 1.99% and the Nasdaq Composite falling 4.29%. The S&P 500 fell 3.2%, sinking below 4,000 for the first time in more than a year.
“When [the markets] throw out the last leading … in this case oil and gas reserves, it usually means we are much closer to the bottom than the top, “Cramer said.
He added that while there are several types of retailers whose activity is currently stirring the market, sales of companies and their shareholders who have been forced to release their shares bring opportunities for investors to pick up stocks of previously expensive stocks at low prices.
“You have to look at this as a blessing, not a curse, if you have cash. These forced sellers are putting pressure on the whole market so you can use them to get great prices. … You can reach your goal. Desired levels much faster thanks to these vendors for creating great value, ”he said.
Cramer also warned investors to stay away from speculative stocks and cryptocurrencies.