Cramer said old market maxims may not be applicable in this case.
Cramer recalled some old advice a mentor gave him when he was just starting out in finance. The four most dangerous words in the English language, his mentor told him, are "this time it’s different.”
Cramer believes, however, that this time it may be different when it comes to the coronavirus.
Cramer told members on the AAP call that when he was in Miami for the Super Bowl he asked "some of the wealthiest people in the world” what they thought about the coronavirus.
Former hedge fund manager and current owner of the NFL’s Carolina Panthers franchise, David Tepper, was one of a few who expressed concerns about the virus.
“We were getting more and more reports about how China was hiding how many were really sick and how many were really dying, and the Wuhan diaspora was just settling in to where it could infect untold souls,” Cramer said.
With the spread of the virus, the Chinese have been proactive about stabilizing the markets amid increased worries about its effect on global growth.
China infused $200 billion in stimulus into the markets as “the real worry in the U.S. at that moment was the recession in China, and the exportation that slowed down the rest of the world. The Chinese put that money in to work in no time flat,” Cramer said.
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