Times of economic difficulty tend to bring up talk of "safety stocks," but in times of economic prosperity, CNBC's Jim Cramer sees that narrative flip.
"What if the definition of safety is changing right before our eyes? What happens when what's prudent suddenly becomes what's reckless and what used to be reckless becomes responsible?" the "Mad Money" host asked. "That, gentle viewer, is exactly what we are seeing in this market."
"Right now, it feels like we're at the beginning of the first truly worldwide economic expansion since the 1990s," he said.
In this kind of "synchronized economic expansion," stocks that are typically considered safe can actually lose investors a lot of money, Cramer said.
Conversely, stocks that may be seen as risky in other times could gain serious traction.