Cramer's Stop Trading! Dimon in the Rough (12/11/08)

Stocks discussed on Jim Cramer’s Stop TradingTV program, Thursday December 11.

JP Morgan (JPM), Goldman Sachs (GS), Morgan Stanley (MS)

JP Morgan CEO Jamie Dimon’s negativity about his company is not surprising. With a huge decline in the stock from $40 to $31 and the worst market in history, Cramer says we should be thankful JPM opens its doors every morning. However, he finds Jamie Dimon’s honesty refreshing and even his negative comments reassuring because he “tells it like it is.” Cramer said JPM’s recovery will be “so amazing when it happens” that the stock will jump to $50. Cramer agreed with Dimon’s recommendation to get the preferred stock which yields 12.5%. Cramer called the preferred “as good as gold” and said “that’s a great piece of paper.” Cramer added he could understand why Dimon was against a merger between Morgan Stanley and Goldman Sachs, because it would create competition for JP Morgan.

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Comments

[herbert hoover:]

Cramer is an idiot.

2008 Dec 12 08:23 AM

[Steve in TN:]

The problem with Cramer's recommendations is that his picks occur after 85% of the move has occured. Good luck on that last 15%.

2008 Dec 12 09:59 AM

[DudeKabob:]

Let's see. . . Should we take financial advice from Jim Cramer, or from "Herbert Hoover"? I wonder. . .

On Dec 12 08:23 AM Herbert Hoover wrote:

> Cramer is an idiot.

2008 Dec 12 11:18 AM

[sr9web:]

there no JPM preferred's yielding 12% - the ones I saw are all around 8%

2008 Dec 12 01:10 PM

[auto44:]

You can get some insight from Crammer but you have to weigh his advise very carefully and be very selective after doing follow up research. If you follow him blindly you will get poor in a hurry.

Merry Christmas, Bob

2008 Dec 12 03:27 PM

[Clifford:]

If you follow Cramer you not be happy. If he picks a stock that you own: SELL, SELL, SELL. If you manage to pick stocks that are not on his radar you may be OK. If you don't get CNBC at all then BooYah!

2008 Dec 13 02:55 AM