Jim Cramer on “Mad Money.”
Scott Mlyn | CNBC
A year ago, Tuesday, the S&P 500 suffered its worst one-day decline in more than three decades amid a severe decline for weeks triggered by the global coronavirus pandemic.
The shares have more than recovered from the rapid price drop, spurred by historic government intervention that helped avert an even stronger crisis, CNBC’s Jim Cramer said Tuesday.
“If you only learn one thing from the pandemic … I want you to remember that betting on the end of the world is a dork game,” said the host of “Mad Money”. The next time you think the world is ending, assume it isn’t. I want you to take the other side of the trade. I want you to bet toward the end of the world. “
The major averages bottomed out about a week after the March 16, 2020 session.
Since its low last year, the Nasdaq Composite has more than doubled since Tuesday’s close at 13,471.57. The S&P 500 and Dow Jones Industrial Average are both up more than 80% to 3,962.71 and 32,825.95 respectively.
Cramer cited Washington lawmakers and officials for contributing to the market turnaround in the wake of thousands of business closures and millions of job losses.
“If our policymakers really learn from the past and our scientists use their magic, then the darkest moment is actually just before dawn and the light at the end of the tunnel is real sun, not that of an oncoming train,” Cramer said.