By Scott Rutt
Jim Cramer salutes the new generation of investors as independent and optimistic.
It’s time to stop disrespecting younger investors and start learning from them, Jim Cramer told his Mad Money viewers Monday. The pros on Wall Street aren’t the only group that matters anymore, Cramer said, and this new wave of investors cares about totally different things than the old guard.
How are younger investors different? For starters, they don’t believe in slow-moving index funds, Instead, they prefer to invest in fast-growing individual stocks. Next, they are rigorously independent and don’t look to Wall Street for research and recommendations.
Despite all of this year’s chaos, younger investors never lost hope. This group is wildly optimistic, Cramer said, and they have no problem looking past the pandemic and the election towards a bright future. That’s why stocks like Norwegian Cruise Line Holdings (NCLH) – Get Report have been able to soar in the middle of a crippling economic slowdown. Younger investors have time to wait for the recovery to occur.
The final thing younger investors have going for them are their commitment to a cleaner, sustainable future. While seasoned Wall Street veterans still don’t believe in clean energy and electric vehicles, younger investors are buying into sustainability and socially responsible companies at a record clip.
Cramer said the pandemic has been the ultimate changing of the guard when it comes to stocks. It’s been a subtle shift that many might not have even realized, but commission-free trading has ushered in a whole new generation that’s already having a huge impact on Wall Street.