Jim Cramer on ‘Mad Money’.
Scott Mlyn | OilGasJobz
The S&P 500 suffered its worst decline in more than three decades on Tuesday a year ago, amid a severe decline of several weeks caused by the global coronavirus pandemic.
Stocks have more than recovered from the rapid fall in prices, bolstered by historic government intervention that has helped prevent an even stronger crisis, OilGasJobz’s Jim Cramer said Tuesday.
“If you only learn one thing from the pandemic … I want you to remember that betting at the end of the world is a struggling game,” said the Mad Money host. “The next time you think the world is ending, you have to accept that it is not so. I want you to take the other side of the trade. I want you to bet towards the end of the world. “
The key averages were about a week after the March 16, 2020 session.
Since its trough last year, the Nasdaq Composite has more than doubled since Tuesday’s end of 13,471.57. The S&P 500 and Dow Jones Industrial Average both fell more than 80% to 3,962.71 and 32 825.95 respectively.
Cramer credited lawmakers and officials in Washington for contributing to the turnaround in the market in the wake of thousands of business closures and millions of jobs lost.
“When our policymakers are actually learning from the past and our scientists are practicing their magic, the darkest moment is really just before dawn and the light at the end of the tunnel is real sun, not that of an oncoming train,” Cramer said. said.