NEW YORK (TheStreet) -- According to Richard Peterson, the S&P director of markets, credit and risk strategies, the average S&P return in a year following a seven-game World Series is 8%. If the Yankees win tonight, however, after only six games, that indicates a potential return of more than 10% next year.
"The bottom line," "Stop Trading!" host Erin Burnett told Jim Cramer on Wednesday, "is that the whole world needs to root for the Yankees."
Cramer wasn't buying it. "If I'm a bull, are you telling me I've got to root against the Phillies?" he asked. "The Phillies have only been in the World Series three times. It's not like you've got a statistical sample."
He did concede, however, a "psychological lift" for more people if the Yankees win. "There are more people in New York who trade stocks than there are in Philadelphia," he said. Peterson countered with the example of the Yankees win over the Dodgers, then also based in New York, in 1953. In the following year, the total return for the S&P was 52%.
Cramer said that it was a "far-fetched" argument, akin to arguing that the
had risen to 10,000 "mostly because the Yankees won 26 World Series, that the whole reason that the market's gone up is the Yankees."
Burnett suggested a compromise that Cramer could acknowledge that the market might go higher if the Yankees win but that it'll still go up if the Phillies win. She called on Cramer for a stock to make up for the difference.
Cramer offered up
. "Do the math," he said. "This stock is inexpensive if we get to normalized earnings." He said there was no stopping WellPoint now and that it was "on the move."
Cramer's closing prediction was that if the World Series does last for seven games, "we'll all be really tired."
-- Written by Rebecca Corvino in New York.