Here's what you need to know about keeping your heart out of your portfolio.
Jim Cramer says that investors should take their cues from businesses.
Watch the full video above for more.
Jim, you know that on this show I try not to get very personal, but I think that this is a time where I actually want to expand on that Elmhurst story that you just mentioned. It's in the New York Times, in case anyone hasn't read it today. But, reading that this morning, reading any coronavirus update this morning, especially in New York, I actually started crying. And, as a journalist, we're both taught you got to keep your emotions away from the story. And that's something that you've preached to our investors, too, watching this. So, for me, it's hard to separate it at times. Right as I'm doing the research, as I report on this story, of course I do separate it. But for investors who are listening to you preach, "Separate investing and emotions" but seeing this pandemic, what advice do you have for them at this point? Because it is very hard.
My advice is to still take your cue from businesses. We had a very positive report about Micron last night. And so you can read the Elmhurst story and just be ashamed, and feel great pity, and know that something is going wrong with the government. Or you can go read the Micron conference call and realize that this stay-at-home theme is overpowering, and is creating tremendous demand throughout the chain of business. The reason I mention it, and I know there will be people who say, "But Jim's conflating life with business." No. Stop. If you're criticizing me for that, just will you stop watching me? Bozo. Sorry. [inaudible 00:07:48] But what I am saying is that it's almost as if it's a diversion, like during the Great Depression when people went to the movies. The movies, for me, are the conference calls. And the conference calls are showing that business is quite adapting, and business is taking care of its own people. It's the Starbucks call. It's the Micron call. It's the Western Digital last night. These are tremendous diversions from what is unfortunate, the Great Depression of medical care.
And one of the things I liked in the very hard-to-understand bill, that I hope is signed, is all the money going to the National Guard, and to the Army, Navy, the Air Force, Marines, because they're the only entity that's big enough to take care of Elmhurst. I mean, they're the only entity... and that and the Defense Production Act... I mean, we have every single mask that in this country is going to doctors. But that's not big enough. We need to get the masks from China. China's got a lot of masks. And we got to bring them over. And I know that Mike Roman, the CEO of 3M, is working on overtime to produce the masks, but by this point, it's now been two months that we've known about this. Where are the factories that we literally could have put up and did during World War II? How are the hospital bed situation? How are the places that... the overcrowding... Who's making the CPAP ventilators, turned into other ventilators?
I just don't get the sense that there are components within the medical chain that are taking it seriously enough. And it's certainly not the doctors. The doctors are desperate. And these are the warriors in this fight. It's kind of like the Kasserine Pass. When the United States was first fighting the Germans, we had a division that was surrounded, very early on in the Korean War, and they didn't have the right weapons. We have to take history, World War II history, Korean War history, to ever think that we're so poorly matched versus an illness. And that's got to change. And the rhetoric that we're going to open for business... It is ill advised versus what the medical community is up against right now.
And I want to take a moment to thank any and all health care workers watching this, because you guys really are on the front lines every day, and saving lives, and we really appreciate it.