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Down but Not Out
While some would see Wednesday's selloff as a sign to get out of the market, Cramer suggested thinking of the decline as a massive sale to buy good stocks at a discount. Reminding viewers of his rule: "Buy damaged stocks, not damaged goods," Cramer recommended objective stocks, which are in bull markets and are not affected by rumors rather than subjective stocks, such as brokers and banks, which are often the victims of vicious gossip.
The German Colossus: Siemens AG (SI)
Cramer remarked "socialist" Europe is beating capitalist America at its own game, and discussed "The German General Electric." Siemens, a megacap conglomerate, is one of the world's largest engineering and electronic companies, and its exposure to infrastructure has been largely responsible for its rise from $82 to $147 in one year. In addition, Siemens provides communications technology, built part of the world's fastest train, and constructs airports and power plants.
Related: Abby Carmel discusses concerns over the recent departure of Siemens' CEO, Heinrich von Pierer.
CEO Interview: Fred Poses, American Standard (ASD)
Poses discussed the company's upcoming spinoff of two of its three businesses; the remainder will be in the air conditioning and heating industry, which is a "great" place to be. Since the three businesses are not connected, "We think we will create more value for shareholders by splitting them up," said Poses. Cramer told viewers to use ASD's recent decline as a buying opportunity.
Related: William Trent comments investors are cautious after ASD's miss.
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