CNBC’s Jim Cramer on Thursday blasted wealthy money managers for making dire predictions and scaring individual investors out of the stock market.
On “Squawk on the Street,” Cramer called out Jeremy Grantham one day after the GMO co-founder, who called the 2008 financial crisis, told “Closing Bell” that the market’s rebound from the March coronavirus lows is emerging as “the fourth ‘Real McCoys’ bubble” of his career. Grantham, 81, also advised investors to take their U.S. exposure to zero.
“Our viewers don’t want to be talked out of” investing in stocks and potentially making money, Cramer said. “Jeremy Grantham, he may not want it. He may be so rich he doesn’t need it.”
“Our viewers have…