NEW YORK (TheStreet) -- Jim Cramer fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:
- Getting through the next week, and
- The vital nature of research.
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'Hope' Is a Dirty Word in Investing
Posted at 7:00 p.m. EST on Friday., Sept. 12, 2014
We don't know what percentage of stock was sold today because of Alibaba, but I can tell you that I personally know fund managers who sold billions of dollars of stock just to prove that they have the cash and will pay for 10% of this deal. Everyone wants 10%. It might as well be 1999.
This deal will do three things to the market:
- It will cause an immense amount of selling in everything high-growth.
- It will cause every top-caller and their brother to speak about how you have to get out now.
- It will lead to talk of the overheating of everything and how blind the Fed is to what it is doing, something that will happen both before and after the Fed meeting next week.
Given that inflation is on retreat everywhere and Europe's teetering on the brink of recession (which will cause countries there to start issuing immense amounts of debt), given that we are going to be in another war that needs funding, and given that the Democrats hate the Republicans as much as ever, this is not an ideal setup.