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Why is Norway investing in U.S. stocks when there are better investments closer to home?
Cramer was asking that very question during Wednesday’s Stop Trading!. Yngve Slyngstad, head of Norway’s global pension fund, told Erin Burnett earlier in “Street Signs” that he thought there were profits to be had here in the States, but the Mad Money host disagreed with that thesis.
Nordic American Tanker [NAT
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], Novo Nordisk [NVO
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] and StatOilHydro [STO
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] are all Norwegian stocks that make better buys than a lot of American stocks, Cramer said.
The financials continue to struggle, he pointed out, saying the drops in PMI Group [PMI
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] and MGIC Investment [MTG
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] “are not just regular declines. They’re historic.”
Washington Mutual [WM
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] and American International Group [AIG
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] are so bad, Cramer said, “These companies should have D.N.R. signs on them – do not resuscitate.”
Cramer said he was particularly vexed that AIG CEO Marty Sullivan and WaMu CEO Kerry Killinger still have their jobs.
“If I were Thor,” Cramer said, “I'd be throwing the [lightning] bolts at Marty Sullivan and Kerry Killinger.”
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