Cramer: The Bears Lack Credibility
When the averages are getting hammered, the bears are quick to share their negative viewpoints. Their arguments, Cramer noted Tuesday, are made over and over again. For two years, the bears are suggested getting out of the market and those who took their advice would have missed out on incredible gains.
The bears are using a formula, Cramer said. The formula is that a higher variable will soon lead to a loss for you. Higher prices at the pump, for example, will lead to less consumer spending. Higher cotton prices will make people less likely to buy cotton goods. Their fears, he said, run the gamut.
"At some point, don't the permanent bears have to own up to the notion that all of these "higher this" and "higher that" fears have basically kept you out of an incredible bull market rally," Cramer complained. "In fact, these worries have only saved you money when it comes to a handful of apparel companies. That's it."
It comes down to credibility, Cramer said. Why believe these well-worn worries when they make you feel reckless about investing in stocks you actually like and have done your homework on? The bears haven't been right so it's time to forget them.
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