Jim Cramer has some thoughts on the economy.
Here's what he wrote on Real Money Tuesday afternoon.
"It's time for thinking big. It's time for being creative. It's time for understanding that the next few days may determine how our nation fares for many years to come," he wrote. "First, let's frame the dilemma. We are a service economy. We are an economy that thrives on coming together and congregating, particularly among the young. Sadly this diabolical illness has our number. It knows that the younger people are going to find a way to congregate. It knows that these people can play the role of Typhoid Mary. They will then infect their parents and their grandparents. I keep hearing we don't have enough data about who gets ill and who dies".
Watch the video above for more.
What about investors who are in the middle? They're not sure if they should put faith in the system. They're not sure if they should take faith out. What should they be doing right now? Is there any advice that you have for them?
They're coming in at an odd level because... Remember I said yesterday in one of my continual themes is the index, the indices, that whole notion that everybody's in the industry. I knew that that would be proven to be a poor method of investing. And it's proving to be the case right now. The NASDAQ is up dramatically, very dramatically. But the index, the DOW's down. S&P kind of doing nothing. So if you're in the S&P you're not doing well. If you're in the DOW you're losing. But if you're in the high growth and in a non-service economy that happens to be in the NASDAQ, you're going to do well because now people are starting to think, "Okay, let's say we solve COVID in three months or alternatively that it burns through our country in three months." [inaudible 00:06:40] Wuhan. Well then what happens is that J&J was a terrific buy. 5G would be a terrific buy. Any company that is able to be able to capitalize, and not profiteer, but capitalize, like Cisco this morning.
I know that we had been very negative about Cisco, but Cisco then this morning Chuck Robins told us on Squawk on the Street, "Look, we are killing it. We're absolutely killing it." That is not what he wanted because the public private partnership, but they absolutely are saying WebEx is just doing so well because of the new way that we work, which is to work at home. So I see opportunities now in the cohorts that I said were going to work, and I also see that there's triage. We are triaging some positions right now and you'll see them when you go to our conference call. I hesitate to give the people who don't pay for the club the information because it doesn't seem fair to club members.
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