Recap of Jim Cramer’s comments on Stop Trading! Wednesday November 14. Click on a stock ticker for more analysis:
New York Stock Exchange (NYSE:NYX), Merrill Lynch (MER): Cramer gave his blessing to John Thain, the "no-nonsense" "coalition-builder" who is leaving NYX to be the CEO of Merrill Lynch and Duncan Niederauer, who is going to replace Thain. Cramer, who knows Niederauer from his days at Goldman Sachs, says the incipient CEO of NYX is a cost-cutter who will get the company back on its feet. Cramer adds Niederauer is also a technology buff and "not a friend of the specialists. The specialists represent an older school of thought."
Concerning NYX, Cramer expressed his frustration with those who say NYX is "an American story": "It's a European story … two-thirds of the income comes from Europe... two-thirds! And it's blown away the numbers, but it's such a hated stock, in part, because I've championed it... and people hate me, and I say bring it on, because I've been hated all my life from the day I was born, February 10th, 1945 (note: the correct year of Jim Cramer's birth is actually 1955.)"
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