Welcome to Extreme Investor Network, where we provide expert insights and unique information in the world of finance and investing. Today, we bring you a reflection from CNBC’s very own Jim Cramer on the recent milestone reached by the Dow Jones Industrial Average, topping 40,000 last week.
Jim Cramer, with his decades-long experience in the business, urges investors to take a moment and appreciate how far the market has come. While initially cautious about celebrating the milestone due to past market losses, Cramer recalls when the Dow was at 1,000 and emphasizes the importance of demonstrating confidence in the market after significant gains.
In his reflection, Cramer challenges the negativity that often surrounds investors and asks, “Don’t we want to make money?” He highlights the Dow’s record as a “team effort,” noting the contributions of stocks from various sectors beyond technology, such as industrials, pharmaceuticals, and banks. Despite potential challenges like rate hikes, inflation, and supply chain issues during the Covid-19 pandemic, these companies have shown resilience.
Cramer acknowledges that investors don’t need to be constant “cheerleaders” for the market but stresses the significance of recognizing the success and strength of these companies over the years. As he puts it, “Sure, we can go down. We went from 1,000 to 777 when I got started. I could’ve tossed the Dow 1,000 hat and gone and become a lawyer. I didn’t, and that was the right call.”
At Extreme Investor Network, we believe in celebrating milestones like the Dow hitting 40,000 while also providing valuable insights into navigating the ever-changing landscape of investing. Stay tuned for more expert analysis and actionable strategies to help you achieve your financial goals.