Jim Cramer's Advice For Millennials During the Market Selloff

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Wondering what you should do as we kick off this week with all of the major indices steeply in the red?

Jim Cramer gives investors his advice. 

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Full Transcript: 

 Jim Cramer: No. Younger investors got their whole life ahead of them and one of the problems is that I don't like, by the way, those automatic programs to tell you you're retired. I mean, chase anybody for fees. The thirst for fees versus just having a regular investment advisor is something that I will regret not being more effective in stopping. But the industry is a powerful industry in terms of taking fees and also being self-righteous. And coming from the industry, I've seen the self righteousness and glad that I didn't participate in it. What a younger person should do is try to find right now the youthful companies or the companies that I think Amazon traded down to 1300 when the president was attacking it. I would stage my buys Amazon. Why? Because a stay at home economy, which is what we have produces value in Amazon. I would pick some of my, the greater healthcare companies that are working on some terrific things and do some buying of those. Here I'm thinking about ABV where you get a yield at the same time.

Jim Cramer: Bristol Myers. I think Bristol Meyers is terrific. I would love to wade through and pick which of the interesting biotech companies. I would be there interesting young tech companies. Now, I'll give you an example of what a young person can buy that an older person can't. Trade desk. Now we're going to have a decline in the amount of advertising. Why? Because there's companies that won't be able to afford it. So that's going to drive trade desk down. What an interesting opportunity? I like that. A PayPal, maybe that finally comes down enough that we can take a look at it. But what they don't want to do is buy, they should not be reaching for yield. A younger person, that's not your goal.

Jim Cramer: You want to compound. If you want to buy some higher yield or you can buy a [inaudible 00:11:02]. Sure. But what the goal is, is to be able to buy the moonshots. And some of them are familiar like in Alphabet and Amazon and some of them are things that you just feel very good about yourself. I mean because there are things that you believe in or used. I mean, so let me give you a great example. Younger people, have been buying it, have been using Adobe products for years now. Adobe is way too high versus what it used to be. And again, there's no hurry to buy Adobe, but you should be eyeing Adobe for the idea that it craters. Put your list together of things that could crater.  

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