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Stop Trading!: Stickin' with Sears
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General Motors [GM
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] will one day be a non-unionized automaker, Cramer predicted on Tuesday’s Stop Trading!. He thinks the bad news is behind GM and the stock could go all the way to $50. Cramer advised more conservative investors to stick with the preferred stock, which carries less risk.
He also agreed that a short position in bond insurers MBIA [MBI
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] and Ambac [ABK
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] makes sense on the heels of Warren Buffett’s offer to reinsure municipal bonds for up to $800 billion. He called the move “really bad” for the insurers.
And in the face of continued criticism over Sears Holdings [SHLD
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] and Chairman Eddie Lampert, Cramer dug his heels in and said he’s sticking with SHLD for the long haul. Sears is a housing stock in a housing recession but Cramer still believes its fundamentals and management are still sound and the stock will be well positioned when the worst is over. “In Eddie I trust,” he said.
Jim's charitable trust owns Sears Holdings.
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