“Whatever money you may need for the next five years, please take it out of the stock market right now, this week,” said Cramer. “I do not believe that you should risk those assets in the stock market right now.”
He continued, saying, “I thought about this all weekend. I do not want to say these things on TV.” But, he did anyway — to more than 5 million people.
Calderone also brings up Mad Money’s lengthy disclaimer, which reads in part “You should not treat any opinion expressed by Cramer as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion.”
And Clusterstock’s Henry Blodget disagrees completely with the advice and the harsh language. “If Cramer really doesn’t ‘want people to get hurt,’ he should stop telling them to try to pick stocks and time the market and just gradually invest in a globally diversified portfolio of low-cost index funds,” writes Blodget.
Click continued to see this morning’s interview…