Despite Friday's sell-off and the bearish remarks made by billionaires Carl Icahn and George Soros, Jim Cramer said he is "more constructive than most" on the market.
"I just think, when you look at the overall profile of the earnings that we've been getting of late … they're pretty good, but I recognized we've been up a lot, and it's been very benign. We need to shake out some of the weaker hands," Cramer said Friday on "Squawk on the Street."
U.S. equities fell sharply Friday, with the Dow Jones industrial average falling nearly 150 points at session lows, as global bond yields fell to record lows.
10-year German bund yield this week
On Thursday, Soros came out of trading retirement with a series of very bearish bets, selling equities in favor of gold and gold miners' stocks, according to The Wall Street Journal. Icahn, meanwhile, said Soros' strategy made sense as equities had been falsely propped up.
"It certainly doesn't hurt anyone to take some profit ... but it's very easy to be very rich and to be very negative," Cramer said.