Investment guru Jim Cramer urges any savvy investors still sitting on the sidelines to open their wallets and jump into the volatile stock market.
“I think it’s time to start putting cash to work. Instead of tech, though, I recommend picking up some of [the] historically cheap stocks that are being brought down by the entire averages,” the “Mad Money” host said.
The CNBC host recommends investors hunt for investments like Dow Inc. (DOW), Caterpillar (CAT) and 3M (MMM).
“I recommend picking up some of [the] historically cheap stocks that are being brought down by the entire averages,” Cramer said.
“I expected a correction, and that’s exactly what we’re getting here,” Cramer said. “That’s why we’ve been raising cash for my charitable trust [and] I’ve spent weeks telling you to do that.”
To be sure, investors are being advised to be savvy and sharpen their senses in this time of volatility.
Investment guru and money manager Bill Gross says investors should be shifting into shunned sectors such as tobacco, banks and European stocks as fiscal stimulus and the stomach for growing deficits in the U.S. wane, Bloomberg reported.
With an emphasis on defense, investors should consider assets that haven’t “skyrocketed on dreams of back-to-normal economic prosperity followed by even lower artificial real interest rates,” Gross, who retired last year, said in his recent outlook released.
“There is little money to be made almost anywhere in the world -- Covid 19 vaccine or no,” wrote Gross, who co-founded Pacific Investment Management Co. and later worked for Janus Henderson Group Plc.
Gross favors value stocks that pay healthy dividends, and says investors should consider using leverage to amplify returns. Central banks are unlikely to raise interest rates in the foreseeable future, lowering the risk a leverage trade would backfire, Gross said in an interview on Bloomberg television.
“You’ve got to lever,” he said. “You’ve got to be able to borrow.”
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