After this
segment, you can
see Jim's Opening
Segment picks
here...
On
Washington Mutual (WM)...
JJC: Well, this
is integral to my "bottom"
thesis... This is what started
happening in 1990... You had a big
Arabian sheik come in and buy a
big position in
Citigroup (C)...
This time, it's
General Electric (GE),
where we work... This time, we
have WM... everyone had told you
that they were going to be bust...
Suddenly, we've got outside
investors actually buying the
stock... No sweetheart deal...
this time, like the other private
equity deal... And we're seeing,
in this day where everyone told me
that
Bank of America (BAC)
and
Merrill Lynch
(MER)
had to come down big... and
Wachovia Corp. (WB)...
they're moving again. The banks
led us down. The banks are leading
us back up... New leadership and
I'm liking it... That's what
causes a bottom... I am saying
we're not going to re-test...
we're not going to get to July
15th lows. That was it. And now,
as we come down, you want to buy,
not sell... as has been the case
every time the banks have been hit
since then. I suspect they'll be
hit tomorrow on the unemployment
number. Again, I am saying buy
them...
. . .
. .
On
the potential sales of divisions
within financials...
JJC: You know, I
have trouble with that, because I
think that
JPMorgan (JPM)
is so well-run. I wouldn't want to
do that.
Citigroup (C)...
I don't mind them doing that,
although
American International Group
(AIG)
is not as high-quality as
Citigroup, and much more of a
black box...
Goldman Sachs (GS*)...
I own it for
my charitable trust... I said I
would own it forever for
charity... and I always think that
that stock is inexpensive... and
you can say that GS* is the one
that is expensive versus the rest,
but inexpensive, versus its
historical price...
. . .
. .
On
Walt Disney Co. (DIS)
and Apple (AAPL)...
JJC: I wish that
Bob Igor (CEO of DIS), whom you
know I think the world of, had not
had to spend so much time talking
about advertising... it got lumped
into the
Viacom (VIA-B)
trade the other day... and more
talked about how he has these
fantastic franchises, whether it
be "High School Musical"...
"WALL-e"... The theme parks were
up... I think he got trapped. I
wish that the focus had not been
on the last three weeks of
advertising. I thought it was a
remarkable quarter, and you know
that I still remain convinced that
this is a great stock, if you only
had to buy one (share) for your
kids. I wanted Bob to talk so much
about how his franchises, versus
say a big drug or PG kind of
franchise, because he's really got
a lot of great franchises...
(Erin: I've got to tell you... he
called his quarter
"exhilarating"...) JJC: Look, I
agree with him... (Erin: It's an
unusual word... ) JJC: I know!
Look, he's so honest that he
talked about a decline in
advertising and, boom, that's all
anyone is focused on... and, two
weeks ago, all anyone was focused
on was theme parks being down, and
they weren't. This stock is
beginning to get beat up too
aggressively. (Erin: So,
Disney (DIS)
is a buy?... ) JJC: Yeah.
. . .
. .
On
Walter Industries Inc. (WLT)...
JJC: I used this
as an example (in his book) of a
breakup value, when the stock was
at $40... Uh, Fording Coal
(FDG)
just got a takeover bid...
Alpha Natural
(ANR)
just got a takeover bid... This is
the perfect kind of coal. They
just had an announcement today
about having more coal
available... They have some weird
distribution... other
businesses... I remember this as
the old asbestos company that got
hurt. This is all different now...
I think that this company is the
ideal kind of conglomerate to buy
in this environment... and I
thought that your manager was
really smart...
. . .
. .
On
Unilever plc (UL)...
JJC: You know, I
have to tell you... UL... when you
read their statements... they were
very downbeat. I want to contrast
that with
Colgate-Palmolive Co. (CL)...
You know, this could be a share
take. These are great worldwide
companies. I wonder whether UL
isn't just losing share to CL...
CL had a really magnificent
quarter. UL's was awful. So I
think we might have a little tug
of war here that CL is winning
right now...
. . .
. .
On
KB Home (KBH)...
JJC: Well, I
think that KBH has stopped going
down. I mean, I keep expecting
this to take out its low. It
hasn't.
Toll Brothers (TOL)
back to $20 again...
Centex Corporation (CTX)
has a terrible quarter, and the
stock is up. This is, again...
remember, my bottom call is (to
look at) what led us down... What
did you and I talk about one year
ago today?... Housing and banks...
I was incredibly glum last year,
and frightened. I am much more
sanguine now, and that's what
you're seeing... I am seeing
exactly the stocks that I was most
concerned about last year
bottoming, and I'm seeing a lot of
these commodity plays topping, and
I can't just close my eyes to that
sea change...
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We do our best to interpret
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Back up the truck -
indicated by Jim, when he
says the stock is so good,
that he would do a
'mon-back' on the stock...
In other words, this is the
sound someone would say to a
truck driver, "Come on
back... " as he is "backing
up the truck" to load up on
his cargo. Translation
for buying stocks:
This recommendation by Jim
indicates that, after you do
your own
homework on the stock,
you should feel comfortable
loading up on it, as it is
in a good position to be
bought at this point.
Stumped. - Of the
2,000+ stocks that Jim
Cramer has in his head, for
which he has an informed
opinion, he sometimes comes
across a caller with a stock
he does not know well enough
to opine on... He then
indicates he is stumped and
will have to come back to
it, after he does some
homework of his own on
the stock. This
usually occurs during the
Lightning Round, when Jim
does not know in advance who
is calling, or what their
stock question is about.
Definitions of key phrases
used by Jim, known as
"Cramerisms":
Definition: 'Pull the
trigger' is Jim's phrase for making
the decision at that point to trade -
either to 'buy' or
to 'sell' (although he
usually uses the phrase for
buying), as if to say you
should feel comfortable
enough to make the final
decision without looking
back...
Definition: 'Ring
the Register' is Jim's phrase for
selling a stock, and making
it a final sale, that you
should not look back on.
Put it behind you.
Definition:'Let It Come In' indicates how you
may wait for it to pull back, or have the
stock price come down briefly, as your
chance (after letting it come in) to buy
the rest of your position (i.e., total
number of shares you own in that stock).
Definition:'backing it up'
or 'doing a 'mon-back' is Jim's
phrase for the metaphor of backing up a
truck to load up on a stock by buying
it. 'Mon-back is short for the
imaginary worker saying, 'Come on
back...' as the truck is backing up to
receive its load... Notice that we use
the little truck icon to indicate where
Jim has mentioned this.
Translation for buying
stocks: This
recommendation by Jim
indicates that, after you do
your own
homework on the stock,
you should feel comfortable
loading up on it, as it is
in a good position to be
bought at this point.
See more
"Cramerisms" & other
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