To be a good investor, you have to be able to handle uncertainty. But even the most predictable events can lose you money, CNBC's Jim Cramer warned on Thursday.
From Robert Mueller's investigation into the Trump administration's possible collusion with Russia to the recent gas attack in Syria, the "Mad Money" host saw potential decline triggers all over the stock market.
"I'm not a political person. It's my job to try to figure out what future events might impact the market," Cramer said. "And if Trump fires Mueller or gets into it with the Russians over Syria, the impact will be negative."
Cramer pointed to the 1973 "Saturday Night Massacre," when former President Richard Nixon set off the resignation of the top three officials in the Justice Department.
That event spurred a massive, 20 percent decline in the Dow Jones industrial average over the months that followed. If Trump fired Mueller, history could repeat itself, Cramer argued.
Retaliating against Syria or Russia, which may have supported the chemical attack, could make things even worse, the "Mad Money" host said, adding that Trump's back-and-forth on the issue only exacerbates the current uncertainty.
"What worries me ... is that this comes right before earnings season, when we care about the micro numbers, not the macro," Cramer said.
Both events could sidetrack key earnings reports, send interest rates lower and push oil prices higher, creating headwinds for oil-dependent industries and fueling investors' worries, he said.
"I say if you haven't put any money to work during this volatile period, why not wait for a better entry point?" Cramer suggested. "There are too many political issues in play and I haven't even discussed the possibility of an escalation in the trade dispute with China."
The "Mad Money" host reminded homegamers that there are always investors who are less aware of these issues than others, and who will be quick to panic and sell if either of these events occur.
"When that panic comes, that'll be your chance to buy," he said. "Until then, I'm urging ... patience."
