Following a “superb” jobs report, Jim Cramer said hedge funds managers who made big bearish predictions about what the coronavirus pandemic would do to the market and economy were wrong.
And the relentless higher price action that many doubted was right.
“The market got it right,” CNBC’s Cramer said on “Squawk on the Street” on Friday. “The big hedge fund guys who told us that this was going to be the highest and worst and most dangerous since 1999, well they made an ill-advised prediction.”
Stocks soared Friday on news the U.S. added 2.5 million jobs in May, the biggest increase on record, demonstrating the economy has already started to recover from the coronavirus crisis. The…