CNBC’s Jim Kramer said Tuesday that investors should be “disciplined” and buy selectively as stock prices drop.
“Remember when we used to say that if stocks went down too much, it could be interesting and that a combination of buybacks, dividends and outperforms can get through the chaos… I actually think money can come back from the margin,” themad money‘ said the host.
“Get some cash and put it in slowly, in a disciplined way, on the way down… then you will catch the proverbial bottom,” he added, acknowledging that it is unclear when the market will actually bottom.
Kramer’s comments came next US stocks fell On Tuesday, as Russia’s invasion of Ukraine continued and hyperinflation rattled Wall Street. The Dow Jones Industrial Average is down about 1.76%, or nearly 600 points. The S&P 500 is down 1.55% and the Nasdaq Composite is down 1.59%.
While the market has rebounded in recent weeks, which Kramer has achieved previously attributed To the strong US economy and investor sentiment over economic sanctions on Russia, the host cautioned against holding out any false optimism about a market recovery anytime soon.
“You’re an idiot if you think that things are only getting worse now in the stock market and they can get worse,” he said. “It’s been pulling back since November thanks to these endless sell-offs, but you know what, we’re probably a lot closer to the bottom than the top,” he added.
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