TheStreet founder and Action Alerts PLUS portfolio manager Jim Cramer has long expressed the danger of treating the market opinions of others as gospel.
And that goes for everyone from your mother to Warren Buffett.
In a recent column on Real Money, Jim Cramer broke down the case of Ray Dalio and the negative outlook on the U.S. economy that he expressed at Davos on January 22.
Dalio said the political and economic environment could create an economic downturn comparable to the Great Depression.
So did you sell out all of your positions in January? Hopefully not, because the markets remain near all-time highs.
Cramer isn't calling out Dalio; he's commenting on the danger of treating someone else's market opinion like gospel. "I am simply saying that once again we listened to a guru -- a word I hate -- and the guru was full of sound and fury, but signifying nothing having to do with the stock market. Yet, I think he caught and amplified the zeitgeist, which made you very negative on stocks," Cramer wrote.
So if you're not willing to do your homework, are you better off keeping your money in cash. Here what Cramer had to say in our video above.
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