After Nvidia shares tumbled, CNBC's Jim Cramer on Wednesday reminded investors that it's important to own stocks in a variety of sectors, even ones that may not presently see huge gains.
Owning a diverse group of stocks helps investors stay in the market when one stock or sector takes a turn, he said.on Wednesday reminded investors that it's important to own stocks in a variety of sectors, even ones that may not presently see huge gains. Owning a diverse group of stocks helps investors stay in the market when one stock or sector takes a turn, he said.and it doesn't always buffer against weakness like recent declines in the otherwise burgeoning tech sector.
"There are going to be bad days where all you want to do is lose less than the market. That, plus the cash you have on the sidelines, are not necessarily meant to help you make money regularly," he said."They're meant for something bigger: They exist to keep you in the game when the hottest stocks turn cold, like Nvidia has done."losing 0.4%. Shares of artificial intelligence behemoth Nvidia also tumbled, closing down 2.10%.
"I always tell you to own Nvidia, not to trade it. I am not going back on that. But I don't think that's possible unless you have a diversified portfolio as well as some cash on the sidelines so you can handle a stock like Nvidia," Cramer said."They allow you to stick with Nvidia even when it's getting clobbered like it is tonight. They allow you to stay sane and still own stocks.
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