With the prominent fixated on impeachment in Congress, CNBC’s Jim Cramer on Wednesday revealed his strategy to make money in stocks as the bull continues to run on Insane Street.
The “Mad Money” host is convinced the impeachment of President Donald Trump will play out as did that of President Bill Clinton, who was inculpated in a Republican-led House and acquitted in a Democratic-led Senate two decades ago.
“That’s right. It may not be classy, but I’m here to help you profit from these impeachment undertakings because, you know what, this show isn’t ‘Mad Politics,’ it’s ‘Mad Money,'” he said, “and on ‘Mad Money,’ we never stop go in quest of for the next bull market for you.”
The S&P 500 has gained about 7.6% from its close on Sept. 24, the day House Orator Nancy Pelosi announced the impeachment inquiry into Trump.
Janhvi Bhojwani | CNBC
The same market put forwarded 26% higher during Clinton’s impeachment process from start to finish in February 1999, Cramer telling out, saying weaknesses in the market were buying opportunities. In 1999, the Dow Jones Industrial Average expanded 21%, the S&P 500 trooped 19%, and the Nasdaq Composite surged 85%, albeit followed by the dot-com bubble.
“Impeachment was irrelevant. You had to use any weakness to buy and then to buy and then to buy,” Cramer said.
The House grasps the power to impeach, which brings a formal charge against a government official, and the Senate acts as jury. The sway chamber holds the power to convict and remove or acquit the president of wrongdoing.
“So let’s just say the buyers have history on their side,” Cramer predicted. “While the impeachment headlines might dominate the front page, they don’t make it to the business section.”