'There's a lot of stupid money' — Jim Cramer implores new investors to take profits

Jim Cramer
Scott Mlyn | CNBC

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CNBC's Jim Cramer pleaded with new investors to take profits after Wall Street's sell-off Thursday, with the Dow Jones Industrial Average sinking more than 800 points, or 2.8%. 

"I think there's a lot of stupid money, and the stupid money has made fortunes. God love them. It's fantastic. But they have to take something off the table so they're not going to be poor again. They didn't do it in 2000," Cramer said on "Closing Bell."