Jim Cramer Advises Investors Not To Get Greedy But Wait — 'It's Often The Hardest Thing To Do'

Prominent market commentator Jim Cramer on Wednesday reportedly warned investors not to get greedy and said it is prudent to cash in some gains following a decent rally.

"It's OK to take something off the table after a big run," Cramer said, according to a CNBC report. "You don't sell everything unless there's something fundamentally wrong with the company or the entire economy right now, and neither's the case."

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The expert believes it's time to cut down on some hot stocks and keep the powder dry while the Federal Reserve considers its next move. Major Wall Street indices closed in the red on Wednesday in the wake of Fed Chair Jerome Powell's testimony before Congress. Powell acknowledged the hardship caused by high inflation and reiterated the Fed's dedication to bringing inflation back down to the 2% goal, during his testimony before the House Financial Services Committee.

Price Action: The SPDR S&P 500 ETF Trust SPY closed 0.51% lower while the Invesco QQQ Trust Series 1 QQQ declined 1.36%, according to Benzinga Pro.

Cramer noted the decline in the CBOE Volatility Index — known as the market's fear gauge — indicates many investors are getting complacent. He stated that the Fed giving out mixed messages is not helping as well.

The market expert believes it's time for investors to wait rather than try and swing at every pitch. "It's often the hardest thing to do, but many times the hardest thing to do is also the best way to try to make a lot of money," Cramer said.

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