You heard it here first. This is one strong tape. Monster strong. It teaches you instantly the value of staying flexible and not being dogmatic. It validates the notion of what TheStreet.com is predicated on: If we think about what we are going to do, and we measure it and examine it "off the desk," so to speak, we will be less likely to panic out and do things that will hurt our performance.
I say "our" because we are a community. By avoiding the talking-head-induced panic and figuring out whether the
damage may not be so bad for others, I hope you, as well as I, made some money this morning.
That's why we set up
. If you are going to take control of your finances and do a better job with your money, you have to be able to vet this stuff, think about it not in a vacuum or in a panic.
I, for one, was heavily influenced by your many emails over the weekend. Some of them were just trembling, so scared and so frightened. Others, however, wanted to hear the pros and cons. There are no pros and cons in
The Wall Street Journal
. Just cons. There are no pros in your local paper. Just cons. There are no pros in the morning TV news. Just cons.
That was wrong.
approach was validated. It will be, again and again.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in the stocks mentioned, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at