The host of MadMoney, Jim Cramer, has advised investors to avoid cryptocurrency and other speculative investments. crypto bitcoin JimCramer
“Don’t get memed. Don’t get SPAC’d. Don’t get crypto’d,” Cramer stressed, warning of “a giant washout of all things that are speculative.”The host of CNBC’s Mad Money show, Jim Cramer, offered some advice Tuesday regarding what to invest in the current market condition. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website.
“Look, Fed chief Jay Powell told us that we need to stop doing stupid things with our money. That was the thrust of his speech on Friday,” Cramer said, referring to Powell’s speech in Jackson Hole, Wyoming. The central banker warned that the Fed’s battle against inflation will bring “Cramer explained that the Federal Reserve is “going to bring the pain until it puts an end to the gambling.
Cramer said this includes cryptocurrencies, adding that other speculative investments investors should avoid include money-losing firms that went public via special purpose acquisition companies and meme stocks.
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