Jim Kramer of CNBC on Thursday told investors he was optimistic that shares of “amazing businesses”“ will return as soon as the stock market faces better conditions, highlighting in particular five names.
“In the long run, I think the best way to make money is to believe, not disbelieve, own, rent, take pain and participate. Don’t slam the door and hide in the bedroom. That’s why I’m here,” he said. “Crazy Money”.
“After all, as much as I can in a dream express a negative about these five actions, I remain steadfast in my belief that once the smoke dissipates, they will be higher, not lower,” he said.
Here is a list of five stocks:
- Alphabet (Google)
“Sometimes these companies don’t do well. But these are amazing businesses with amazing management. I’ll give them another chance to have amazing stocks because historically it’s been the right call.” Said Cramer.
Major indexes suffered lower losses on Thursday than the day before as investors continue to reset their holdings for fears that a recession is expected due to the upcoming rise in Federal Reserve interest rates.
Such fears, along with other headwinds, including Russia’s invasion of Ukraine, Covid’s shutdown in China and more, have affected stocks in many industries. Disappointing opinions from companies including Target and Cisco this week further discouraged market movement.
However, Kramer said he was still optimistic about finding winners in the market – although he warned investors against betting on false hopes earlier this week.
“I still see a way to make everything work. I’m not ready to throw in the towel,” he said.
Disclosure: Cramer Charitable Foundation owns shares in Apple, Nvidia, Costco, AMD and Alphabet.