Wow! This is the first time I have seen a so-called expert suggesting that investors get their money out of the markets, but Jim Cramer is suggesting just that. If everyone does that, this will get really ugly, really fast.
Granted, he qualifies his position by saying that only people that may need the money in the next few years should pull out what is left of it.
http://www.msnbc.msn.com/id/27045699/
Quote:
Cramer emphatically urged any investor who has money they may need in the next five years tied to stocks to pull their dough out.
"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."
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But he does also say, that if you can ride it out, that will end up the best for you.
Quote:
Still, those with the assets — and the stomach — to ride out the stock market’s ups and down over a five-year period might be best served by holding their nose and holding onto their stocks.
“I think what you have to do, if you can withstand it, is just ride it out,” Cramer said.
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