With the public fixated on impeachment in Congress, CNBC's Jim Cramer on Wednesday revealed his strategy to make money in stocks as the bull continues to run on Wall Street.
The "Mad Money" host is convinced the impeachment of President Donald Trump will play out as did that of President Bill Clinton, who was impeached in a Republican-led House and acquitted in a Democratic-led Senate two decades ago.
"That's right. It may not be classy, but I'm here to help you profit from these impeachment proceedings because, you know what, this show isn't 'Mad Politics,' it's 'Mad Money,'" he said, "and on 'Mad Money,' we never stop hunting for the next bull market for you."
The S&P 500 has gained about 7.6% from its close on Sept. 24, the day House Speaker Nancy Pelosi announced the impeachment inquiry into Trump.
The same market moved 26% higher during Clinton's impeachment process from start to finish in February 1999, Cramer pointed out, saying weaknesses in the market were buying opportunities. In 1999, the Dow Jones Industrial Average expanded 21%, the S&P 500 rallied 19%, and the Nasdaq Composite surged 85%, albeit followed by the dot-com bubble.
"Impeachment was irrelevant. You had to use any weakness to buy and then to buy and then to buy," Cramer said.
The House holds the power to impeach, which brings a formal charge against a government official, and the Senate acts as jury. The upper chamber holds the power to convict and remove or acquit the president of wrongdoing.
"So let's just say the buyers have history on their side," Cramer said. "While the impeachment headlines might dominate the front page, they don't make it to the business section."
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