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CNBC “Mad Money” host Jim Cramer mulled over the potential outcome of the abysmal sell-off in the regional banks in the wake of the collapse of the Silicon Valley Bank owned by SVB Financial Group (NASDAQ:SIVB).
What Happened: Cramer took to Twitter on Tuesday, wondering why everyone is scared to buy any small bank and the “irrationality of it all.” He was apparently referring to a lack of willingness among private investors to step in to pick up stakes in the banks, potentially arresting the slide in shares.
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“Do we need Warren Buffett to buy a bunch?” he asked.
“That’s how these declines often end.”
Digging in to why everyone is scared to own any small bank and the irrationality of it all... Do we need Warren Buffett to buy a bunch? That's how these declines often end!
— Jim Cramer (@jimcramer) March 14, 2023
Buffett is known for his investment strategy of buying quality stocks trading at bargains — aka value buying — and holding them for a longer timeframe.
The KBW Nasdaq Regional Banking Index has fallen about 16% since March 8, when SVB announced an equity offering to shore up its balance sheet. Most of the regional banks have lost much of their market capitalizations amid the sell-off.
First Republic Bank (NYSE:FRC) has plummeted about 73% in the same timeframe.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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