Jim Cramer

The Bear Stearns rescue in March 2008 marked the bottom of the U.S. stock market's decline, with no lower lows to follow.

“That $30 billion from the Fed will turn out to be a small price to pay for a bottom in the stock market after the beating we’ve taken over the past eight months.”

Said on

21 March 2008 · Column in New York magazine

Source

The Bear Stearns Bull · New York Magazine

Should come true

No date given

How sure they sounded

will turn out to be; "I call it a bottom"; "the worst of the clawing is over"

Categories

MarketsBanking

Importance

3 of 5 · Bottom call for the U.S. stock market (and housing) during the 2008 financial crisis.

Outcome

Inaccurate

The market did not bottom in March 2008. After Lehman's failure in September 2008, the S&P 500 fell far below its March 2008 levels (around 1,270) and bottomed at 676.53 on March 9, 2009.

Evidence:

• https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008
• https://www.kiplinger.com/article/investing/t031-c000-s001-bad-media-calls-of-08-did-they-really-say-that.html