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NEW YORK ( TheStreet) -- Don't let the bears drag you down, Jim Cramer said on "Mad Money" Tuesday. Institutional investors, or "smart money," are jealous of retail investors as stocks keep going higher. The pros hate what's happening in this market because amateur investors are making it look easy.
Amazon.com (AMZN) is despised by the intelligentsia even as it hits another record high. Cramer sees tremendous jealousy about the company's go-for-broke business model rewarded by its stock price, even as it fails to turn a profit.
What's really propelling Amazon? The weather. With the media frenzy over bad weather engulfing the East Coast, people are shut in and shopping online. The retail investors buy what they like and Amazon is going higher. How can that be wrong? Cramer asked. The goal is to make money, not feel smart.In the same vein, Cramer looked at Netflix (NFLX). People fenced in by the weather aren't going to the movies -- they're streaming at home, he pointed out. Retail investors enjoy the Netflix product and buy Netflix's stock. "We are in a buy-what-you-like environment," Cramer said, and it is time to acknowledge that trend. Netflix stock is up more than 280% in 2013. Nothing freaks out institutional investors more than when people are buying warm weather clothing companies in the offseason, Cramer said. Rallies for VF Corp. (VFC) and Deckers Outdoors (DECK) drive the smart guys crazy, Cramer said. Could it be the "dumb money" is buying because these stocks are attractively priced?