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Cramer's 'Mad Money' Recap: Betting Against the Bears (Final)

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NEW YORK ( TheStreet) -- "It pays to bet against the bears," Jim Cramer told his "Mad Money" TV show viewers Tuesdays, after a strong rally led to a beautiful kick-off for 2012.

Cramer said the conventional bearish "wisdom" of 2011 proved to almost totally wrong, and he listed his top 10 market myths that proved to be untrue for the year just past. Cramer's market myths included:

1. The U.S. will be the worst performing market of the year.

2. The dollar had to go down.

3. Interest rates had to go higher.

4. Oil trades with other commodities.

5. U.S. natural gas reserves were over-stated.

6. The price of gold had peaked.

7. The euro will fall apart.

8. Big pharma is dead.

9. Consumers are spending less.

10. The dogs of the Dow are the place to be.

Cramer said that all of these predictions were viewed as facts by the bears> Despite all of their attention in the media, however, U.S. markets finished strong, interest rated remained low, oil prices soared, natural gas reserves grew, big pharma out-performed and the dogs of the Dow continued their decline all year long, he said.

So as the new year dawns and hope springs eternal, Cramer reminded viewers that most of the bearish arguments they'll hear this year will also be false. Cramer told viewers that he is not totally bullish, he remains at DEFCON 2 regarding Europe and would still avoid the banks at all costs. But the high-yielding dividend stocks, he added, are still a great place to invest.

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