Bulls and bears make money, but pigs get slaughtered according to Jim Cramer.
At his teach-in back in October, Cramer was asked why his club downgraded Nvidia and then proceeded to sell off their shares in the chip company.
When pressed further about it, Cramer responded that he believed that the company would miss its quarter.
The company reported earnings last night, which TheStreet covered live both on Twitter and Eric Jhonsa ran a live blog.
Nvidia, as Cramer called, missed the quarter by whiffing on revenue and issuing weak guidance.
The stock promptly dropped double digits as the report spooked investors.
But things didn’t get better, the earnings call showed CEO Jensen Huang’s defensive side.
So, after seeing the fallout from the Nvidia earnings, how should investors handle themselves?
Cramer has two approaches, one for investors who want to get into Nvidia and one for investors who are still in Nvidia. But, his ultimate advice can be summed up in two words: Stay long.
He emphasized the importance of patience when asked for advice.
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