"When you see slow data are you going to come up with a new reason to be negative, or are you going to be willing to pull the trigger like you should?"
It is that question, posed by my wife over the weekend, that got me to my core. When you get cautious, your tendency is to want to stay cautious. You get comfortable with it.
But what if what made you cautious, an economy expanding too fast for the
liking, changes. For the better. Are you going to be like the
of the world and come up with new excuses to stay negative? Are you going to dismiss the data as aberrant and wait for some "all clear" sign to be posted by someone else?
That's what my wife, Karen, was worried about. She was worried that I would become like countless other middle-aged fund managers who got cautious and then never, ever, got bullish again, even though the reasons they got cautious had changed.
That's what I thought of when I saw the data this morning. I began to believe that, well, nobody is going to issue an "all clear," least of all the bears. So I had to become more bullish.
(Right now as I write, a hawkish governor is NOT saying something hawkish. Better get used to that, too.)
I gotta answer to my wife when I get home. I didn't want to have to foment some new reason to stay cautious. Especially when I don't have one.
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 any of the stocks mentioned. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may 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