Recap of Jim Cramer’s comments on Wall Street Confidential, Monday November 12. Click on a stock ticker for more analysis:
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Mastercard (NYSE:MA), Capital One (NYSE:COF) Concerning Visa's proposed IPO, Cramer said, "I've liked Mastercard very much, but I don't like Mastercard in an environment where Visa is coming public." He added the fact that the IPO is being initiated in the midst of a down market is a bad sign; "…It shows to me you really have to get this deal done no matter what. I never want to see deals have to be done no matter what because that says you'll get hurt." He added in the current economy, as in 1990, "The last thing you want to own is a credit card company." While Visa is based on transactions and the transition from plastic and paper, people mistakenly associate it with Capital One, "Which is in trouble."
"This deal is the last thing investors need now and it is not good for Mastercard.'
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