CNBC’s Jim Cramer cautions savvy investors to protect their holdings from the seemingly endless stream of tweets from President-elect Donald Trump as he prepares to officially enter the White House.
"We are at a moment where there are so many cross-currents, some of which are caused by the president-elect himself, that you will need a cast-iron stomach to run the gauntlet from here through Friday's inauguration," the "Mad Money" host said on CNBC.
Cramer offered simple, but brilliant, advice. Truly believe in the stocks you own.
Cramer warned that a "tweet lightning bolt" from Trump could take down a company's shares at any time.
However, he also cited investment guru Warren Buffett’s credo to buy when everyone else is selling.
For example, the sell-off in bank stocks on Tuesday made them more attractive to Cramer, not less.
With crude stalled in the low $50s, Cramer advised investors to stay long oil and gas.
"Come Friday, we will have the most pro-fossil fuel president in history. Don't be whipsawed … find something you like that is oil and gas and stick with it," Cramer said.
Cramer isn't alone in cautioning investors to be wary of Trump's sway over the market.
Early optimism among business lobbyists and executives that Trump's election heralded better days has slowly given way to uncertainty as the president-elect fires off mixed and sometimes confusing messages on healthcare, taxes and trade.
An initial euphoria in the business world fueled a powerful post-election stock rally. Some of that has frayed as questions arise over the nuts and bolts of Trump's campaign promises, although many in the business community said they remain optimistic, Reuters reported.
Doubts deepened over the weekend as Trump declared he would replace President Barack Obama's signature healthcare plan known as Obamacare with "insurance for everybody" - a goal far beyond Republican designs - and criticized a key component of a plan in Congress to overhaul corporate taxes.
"It is fair to say that since the election, there has been mounting uncertainty about exactly what the specific policies are likely to be with regard to tax reform and replacing Obamacare," a financial industry official said.
However, one of the most respected business icons of our time argues that Trump is on the right road to truly "Make America Great Again," but he could use additional guidance.
Trump would be wise to appoint a supporting cast of free-market conservatives to his administration, Forbes Media CEO Steve Forbes tells Newsmax TV.
"They've got to get some of these people in because the president can do so much but you got to have a supporting cast or at least some players in there who can push this agenda," Forbes told "Newsmax Prime" host J.D. Hayworth.
Among his picks, Forbes touted Newsmax Finance Insiders Larry Kudlow and Stephen Moore for possible positions in Trump's administration.
"I hope Larry Kudlow gets in perhaps as the head of the Council of Economic Advisers. Perfect post for him," said Forbes, author of "Reviving America."
"Stephen Moore, whether it's in the White House or with Vice President-elect Pence. Very critical to have his voice in there," Forbes told Newsmax TV in an exclusive interview.
"Others like David Malpass who understands the Fed better than anyone else. Get him in there. He was a supporter of Trump," Forbes said.
(Newsmax wire services contributed to this report).
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