That playbook is very clear about what you need to do when you start to get inflation in a rapidly growing economy: You buy the inflation winners at any price and you dump everything else again, said Cramer, himself a former hedge fund manager.
Some of those stocks are obvious, such as mining company Freeport-McMoRan, as well as steelmakers Cleveland-Cliffs and Nucor, according to Cramer. He said industrial giant Caterpillar is also on the list along with oil companies.
Bank stocks also have become popular despite inflation concerns because this is not a traditional bout of inflation, Cramer explained. Typically, it can cause problems for the financial industry.
That playbook is very clear about what you need to do when you start to get inflation in a rapidly growing economy: You buy the inflation winners at any price and you dump everything else again, said Cramer, himself a former hedge fund manager.
Some of those stocks are obvious, such as mining company Freeport-McMoRan, as well as steelmakers Cleveland-Cliffs and Nucor, according to Cramer. He said industrial giant Caterpillar is also on the list along with oil companies.
Bank stocks also have become popular despite inflation concerns because this is not a traditional bout of inflation, Cramer explained. Typically, it can cause problems for the financial industry.
That playbook is very clear about what you need to do when you start to get inflation in a rapidly growing economy: You buy the inflation winners at any price and you dump everything else again, said Cramer, himself a former hedge fund manager.
Some of those stocks are obvious, such as mining company Freeport-McMoRan, as well as steelmakers Cleveland-Cliffs and Nucor, according to Cramer. He said industrial giant Caterpillar is also on the list along with oil companies.
Bank stocks also have become popular despite inflation concerns because this is not a traditional bout of inflation, Cramer explained. Typically, it can cause problems for the financial industry.
That playbook is very clear about what you need to do when you start to get inflation in a rapidly growing economy: You buy the inflation winners at any price and you dump everything else again, said Cramer, himself a former hedge fund manager.
Some of those stocks are obvious, such as mining company Freeport-McMoRan, as well as steelmakers Cleveland-Cliffs and Nucor, according to Cramer. He said industrial giant Caterpillar is also on the list along with oil companies.
Bank stocks also have become popular despite inflation concerns because this is not a traditional bout of inflation, Cramer explained. Typically, it can cause problems for the financial industry.
Surging Bitcoin Boosts Profits in Jack Dorsey s Square
On 5/7/21 at 2:30 PM EDT
Jack Dorsey, co-founder and CEO of Twitter and electronic payments firm Square, makes good Yankee dollars on Bitcoin.
Surging demand for the cryptocurrency drove Square s first quarter profit to 41 cents a share, exceeding Wall Street s consensus estimate of 16 cents by about 156%.
Square s Cash App allows customers to purchase the cryptocurrency.
The company s Bitcoin revenue rose 1,047% and at $3.5 billion represented about 69% of the company s first quarter receipts.
Dorsey speaking at the Energy and Commerce Committee hearing on Thursday, with the Blockclock seen on the lower left.
Energy and Commerce Committee / YouTube