This column was originally published on RealMoney on March 1 at 9:36 a.m. EST. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.
Don't you think it's amazing how quickly panic spreads? I always find it incredible, that way we simply can't control our instinct to sell all those companies we liked so much last week.
I mean, do we really believe that
Bank of America
should yield 5%? We must if we're about to sell it here.
Do we believe that
should sell at 8 times earnings? Yes, if we believe that the earnings are phony.
Do we believe that
will never get a bid? Or that
is worth nothing now that it hasn't?
I guess I have seen too many of these selloffs. I look at a
and I think, "Wow, nice sale."
I don't look at it as the 150% leveraged hedge fund manager anymore. Maybe I should pretend that I do. Would that be more valuable?
I'll keep reiterating this until people are sick of it: Now that Treasuries are going to 4.25%, we are going to get a flight into dividend-yielding names and safety stocks, and the rest -- at least momentarily -- is for the birds!
At the time of publication, Cramer was long Goldman Sachs.
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
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