Mad Money w/Jim Cramer 01/07/21
Mad Money w/ Jim Cramer
CNBC
4.3 • 4K Ratings
🗓️ 8 January 2021
⏱️ 45 minutes
🧾️ Download transcript
Summary
Transcript
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| 0:00.0 | Hey, I'm Kramer. Welcome to May of Money. Welcome to Kramer, America. |
| 0:05.0 | Other people are my friends. I'm just trying to make you some money. My job is not just to entertain, but to educate, |
| 0:11.0 | teach you, put it all in context. So call me at 1-800-743-ECMBC or tweet me at Jim Kramer. |
| 0:19.0 | Got a lot to talk about tonight. Including how can this market hit record highs today |
| 0:24.0 | after what happened in Washington yesterday? |
| 0:27.0 | With the Dow getting 212 points, S&P jumping 1.48% in the NASDAQ poll voting, |
| 0:32.0 | 2.56% made up a lot of the ground from yesterday. |
| 0:36.0 | So you got to ask, right? Does Wall Street like violent confrontation? |
| 0:41.0 | Does the Sun all agree with the rioters? |
| 0:44.0 | Stocks pulled back yesterday when the Goon Squad stormed the capital, but not by that much. |
| 0:49.0 | And then today they came running back. So what's going on here? |
| 0:53.0 | Simple. Well, it's not how the market works. See, it's not a referendum on the most disheartening story we've seen in the capital years. |
| 1:00.0 | Well, I've got you. Let me tell you a story. |
| 1:03.0 | It's going to be something I build one. |
| 1:07.0 | 38 years ago, I first sat down on a professional trading desk at Goldman Sachs. |
| 1:13.0 | The market was warring. It was just smoking higher. |
| 1:16.0 | I was green as green could be. I was real rookie. |
| 1:18.0 | I turned around to a senior trader, one who would go on to make partner and then become a billionaire hedge fund manager. |
| 1:24.0 | And I asked him, what was the market exploding to the upside? There was nothing going on. |
| 1:29.0 | Nothing I saw that was good. Well, he looked at me. He looked down at me. |
| 1:32.0 | He looked at me. He saw my Mo Ginsberg suit with my pathetic button down collar. |
| 1:37.0 | See, you could only wear straight collars with French cuffs back then. |
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