Mad Mail: The Final Word on the Bear Stearns Call
Dear Jim: Very entertaining show last night...however, you slighted the better steel stock, AK Steel Holdings . AKS has the premier coating line in the world. It is the domestic leader in stainless and electrical steel. Not only do you change your mind like a woman, you don’t know your steel stocks! –Bud
Cramer says: Other than the sexist comment, I agree that AKS is a good stock, although it isn’t as cheap as U.S. Steel . Be careful, though. Russia is starting to flood the market with stainless steel.
Dear Cramer & Team: My father, Harold, is turning 90 today. He attributes his great health and dynamism to a regimen that includes swimming every day, managing a complex stock portfolio online, and watching Jim Cramer nightly. He absolutely loves the show. He also teaches a class in investing to a large group of 10-12 year-olds at the Howard Gardner School in Scranton, PA. My father has the kids manage model portfolios, and has found Jim's dynamism and demystification a great way of introducing young people to the world of finance and investing. It would absolutely give a great charge to him if he might get an on-air birthday wish from Mr. Cramer. --Robert
Cramer says: Happy Birthday, Harold. Please say hello to the many Cramers that live in Scranton, PA.
Dear Jim: I am sure you guys have received a load of emails about the Daily Show comments, but I saw the show where you made the Bear Stearns comments…and my interpretation was that you were telling people not to close their brokerage accounts. If the comments Jon Stewart made are wrong like I think they are, you guys should address it.
Cramer says: Jon Stewart has a great show and he was just doing his job. But I was the only one who actually read the email in question, and it was a viewer asking if they should close their brokerage account at Bear, to which I said no. Later that week, I said Bear stock was “worthless.” I am the first to admit when I get something wrong, but I was right on Bear.
Dear Jim: I bought a thousand shares of Sirius stock a year ago at around $2.80 per share. I bought the stock because I like Howard Stern. There you have it, "my secret strategy," Howard Stern = sound investment. Now please Jim…how is it that the larger of these two companies (XM ) is being swallowed by the less valuable one (SIRI)? --Ted
Cramer says: Sirius, while less valuable, made the proposal and has the better management team. SIRI stock is undervalued here.
Mr. Cramer: I watch Mad Money daily. I have been trading stocks since January and I must say…thank you for the Blockbuster recommendation. Until I owned that stock, I didn't truly understand trading around stock price changes. Blockbuster, if it goes up even 10 cents, can make you a pretty penny if you reinvest that penny when the price falls back down. It's beautiful. Thanks Cramer! --Thomas
Cramer says: Blockbuster has proven to be a good speculative recommendation. Stick with it and trade around.
Questions for Cramer? email@example.com
Questions, comments, suggestions for the Mad Money website? firstname.lastname@example.org