Jim Cramer says it is time to talk about the lack of institutional memory on Wall Street.
"There is almost a whole generation of young money managers out there who have only ever experienced central bank intervention as a positive for the stock market. Call them the quantitative easing generation," the "Mad Money" host said.
These younger professionals believe that when the Federal Reserve keeps interest rates down, it makes certain stocks more attractive than they would be normally. Thus, they think that the Fed raising rates will put a damper on stocks.
Cramer gets that argument. It's easy for him to see how investors would believe that the market could take a hit from higher rates.
What younger professionals don't know is the experience Cramer saw with his own two eyes over the span of 35 years on Wall Street — that the stock market can still make big moves higher, even if the Fed raises rates.