There's contrary thinking, and then there's pseudo-contrary thinking. Let me give you both takes.
For four months, money has been pouring out of this market; individuals have been fleeing in droves from the mutual funds.
Some managers say that you have to take the other side of that. In all of the important moments in the last 20 years that individuals have fled the markets, it has been a great time to buy. Is that contrary thinking, or pseudo-contrary thinking?
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James J. 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. At the time of publication, Cramer was long Philip Morris.
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