Even the most sincerely insincere man on Wall Street believes that some CEOs deserve the benefit of the doubt. Not only do they deserve it, but investors can make more money by trusting these guys at times than if they don’t. Sure, this goes against every primitive impulse one might have to get violently negative the moment there’s the slightest scent of blood, but it’s true – especially when we’re talking retailers.
So today starts the beginning of a new series for the week, the “Benefit of the Doubt” list of retail managers whose words you can take at face value. These are the guys who run companies that are worth buying when they miss their monthly same-store sales numbers or slip up one quarter. This is a Cramer-tested way to approach retailers with a time frame longer than just the next 24 hours.