Mad Mail: Was Cramer Wrong About Sirius-XM?
Hey Jim: This morning we have a little bit of a horserace going on concerning the Sirius-XM Satellite Radio merger that is contrary to your belief on the FCC decision. One of the Goldman Sachs analysts put Sirius on their firm's conviction Sell List. Do they have some insight that is being overlooked? Maybe we can get him "on the line" to express his opinion on this situation. My "Mad Money" is on you in this horse race. --John from Yonkers, N.Y.
Cramer says: “This stock used to be very, very high, and it’s come down very low. We liked it at $2.70, so I like our standing. To start downgrading at $3 with the merger at hand – let’s just say that guy doesn’t have any horsesense.”
Hey Cramer: How many shares have you bought before pumping Research in Motion and Deere? Is that how you made your millions, pumping and dumping?
Cramer says: “Pumping and dumping? Illegal. Hate the charge. Never have done it. You know what my money is in? It’s in cash. So, Albert, that’s wrong” Cramer’s not allowed to own individual stocks, but he does have a charitable trust through which he’s given away as much as $400,000.
Dear Jim: I've been looking at Canadian National Railway Company, and I can't figure out why on earth it is trading at 11.5 price-to-earnings when the industry and a very comparable company, CSX, are over 18. CNI has a similar market cap to CSX, but it has the advantage of being the major Canadian railway in addition to recently opening a new port to facilitate intermodal revenues. Is Wall Street just being anti-Canadian? --Nick
Cramer says: “We should look at this situation because CSX has had such a move. We love [CEO] Michael Ward. Maybe we should think about rotating into CNI.”
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