'In a tough market, you need to circle the wagons around the few good names you feel comfortable buying and then buying more if they go lower,' the 'Mad Money' host said.
"You go with companies that will be able to hit their numbers regardless of how badly this economy gets hit by all these new Covid hot spots."
Separating the wheat from the chaff, the former hedge-fund manager delivered a scathing critique of investors who spent weeks piling money into the airline, cruise line, retail and other companies most damaged by the demand sap caused by the coronavirus pandemic. "When it gets that easy, when everyone thinks they're smarter than ... Warren Buffett," Cramer said, "then you know you're in for a real bruising, a genuine rollback that wipes out anyone who was buying on margin and sets back the neophytes who only knew that when you buy a stock it goes up."
After posting strong gains in prior weeks on reopening hopes, the major averages suffered their worst declines since the height of the coronavirus sell-off in March. The
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