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NEW YORK (TheStreet) -- Don't be scared away by the naysayers, Jim Cramer told his "Mad Money" TV show viewers Thursday as he kicked off the new year. Cramer said there were a lot of "obvious" things wrong in 2013, too, but in the end we ended up just fine.
Cramer reminded viewers that in 2013 the market's critics had a lot of things to crow about as well, including a debt ceiling debate, a government shutdown, "Obamacare," a slowdown in China and economic woes everywhere from Cyprus to Brazil. But how did the markets do despite these "obvious" shortcomings? Well, the Dow Jones Industrial Average ended up gaining 29.6%, including dividends, for 2013. Not too shabby.
How can that be? Cramer said it's because the naysayers forgot their basic economics, the laws of supply and demand. In 2013, we ran into a shortage of everything from commercial real estate to autos and even PCs. More importantly, there just weren't enough shares of high-quality companies out there. That, he said, leads to higher stock prices.The cynics will never admit they're wrong, Cramer concluded, but with 2013 as our guide, 2014 is looking pretty good despite rising interest rates, a new Federal Reserve chair and a multitude of other woes.