(You can find Cramer's commentary on Bill Gross about 1:15 into the video clip)

Up and down Wall Street stunned investors were scratching their heads and asking one another "What happened?"

On Friday, in a move that stunned Wall Street, famed bond investor Bill Gross announced plans to leave Pimco, the company he helped launch over 40 years ago.

Gross is joining Janus Capital Group, effective Sept. 29.

Although reports have suggested that Gross had engaged in somewhat erratic behavior, and that other Pimco executives threatened to resign, Cramer doesn't think those specifics will influence investors.

Instead, what matters is that a legendary investor is making a sudden and unexpected move.

"Normally I wouldn't give a hoot about some bond manager leaving a firm, but Bill is Pimco, or was Pimco, and I have to believe that his exodus will create an exodus of capital in the bond market. This matters because Pimco is so big, with $2 trillion in assets under management."

In turn, Cramer worries that developments could trigger a massive rotation in the bond market.

"Pimco practically is the market for a lot of issues, particularly high yield and junk bonds, and now there might be fire sales as money leaves the firm, some going with Gross to Janus, but some just going," Cramer speculated.

"I know a lot of hedge funds are gaming this event, trying to sell short all sorts of funds that Pimco runs and selling a lot of high yield bonds to boot," Cramer added.

Other pros speculate that events may take down stocks, too, giving skeptics a new reason to call a top.

--------------------------------------------------------------
Read more from Mad Money from Jim Cramer
Cramer's 4 point buy and sell system
Cramer: Stocks reflect America's innovative spirit
Cramer: Prepaid profits, a gift for portfolio
--------------------------------------------------------------

However, as the "Mad Money" host has said so many times before, the market sometimes goes into a state of "sell first and ask questions later."

It's entirely possible this many be one of those times. Therefore, before making an investment decisions based on these events, Cramer says "sit back and try to learn more on Monday about what the heck really happened. Forced out. Fired? Time to go? We need more information."

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com