CNBC's Jim Cramer said investors should not be dissuaded by naysayers if they have a thesis they feel strongly about.
Cramer said he made the mistake of giving up on his bull thesis when he sold Boeing for the CNBC Investing Club's Charitable Trust. Cramer knew Boeing didn't have a strong management team, but he thought the company could stage a strong comeback during the post-Covid travel boom because it was one of only two major aircraft manufacturers.
But Boeing's comeback took longer than Cramer expected. He said he began to grow discouraged as the company reported poor quarters and earnings misses.
"I didn't have the patience or the pain tolerance to stick with my original thesis, which was dead right all along," he said.
Cramer said he sold his final shares of Boeing for the trust in May of 2022 when it was priced at $121, slightly higher than the stock's eventual bottom. But demand for the company's planes finally picked up, just as Cramer had originally predicted.
He said if he'd waited longer and stuck with his thesis, he wouldn't have missed the stock's rally, as it eventually shot up past $200.
"If you have a thesis that looks like it's going to play out, don't let its unrelated negatives scare you away," Cramer said. "Boeing's hideous performance in the first half of 2022 was not a reason to sell — it was a reason to buy, but only if you had the fortitude to stick with it."
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