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Mad Mail: Is JPMorgan a Long-Term Buy?

Wednesday, 30 Jan 2008 | 7:13 PM ET

Cramer dedicated Wednesday's Mad Mail segment to iVillage.com, a fellow NBC Universal property that gave such great exposure to Mad Money's Ladies' Night. All tonight's questions came from iVillage's message boards.

Cramer's Mad Mail
Mad Money host Jim Cramer answers your emails.

Dear Jim: With JPMorgan Chase coming out relatively unscathed by the mortgage fallout, reporting only $1.3 billion in loss compared to Citicorp's $18 billion write down, is JPMorgan a solid long-term investment? With Jamie Dimon emerging as something of a rock star among CEO's, JPMorgan's outlook appears stronger then most to me. --Jessi in NY

Cramer says: "I would not put him at rock star. They still had losses. But I will say this: The bank stocks are all going to come down because there have been some downgrades by S&P tonight, [but] I think overall the Fed is in control now. I think if JPMorgan comes down three, four, five points, you should buy it. I think if Wachovia comes down a few points, you should buy it. We're now in a different world where weakness should be bought. But there is going to be a lot of bad news."

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Dear Jim: I purchased Walgreen at just over $47. Should I continue to hold or sell it at a huge loss? --Rochelle in Arizona

Cramer says: "In Cramerica, we don't care about where you bought it. We only care about where it's going to. And I believe Walgreen is going down. Because the business is no good."

Hi Jim: I love your show, and especially your enthusiasm! My question is regarding a home purchase. I've heard you mention (a few months ago) that anyone is "stupid" for buying a home in this current market (yes, I'm trying to wait!), but what are your thoughts on home auctions? I'm in northern California, and found an ad…for a home previously listed for $495K with a starting bid of $109K...Is it still smart to wait - any thoughts? --Lin

Cramer says: "I'm beginning to look at homes because of mortgage rates. I care more about the component of martgage rates than I care about the price. I'd be very careful and suspicious of that housing. I don't like California housing, and I don't like Florida housing. The rest of the country is up for grabs."

Questions for Cramer? madmoney@cnbc.com

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