Mad Mail: The Ben Bernanke Effect?
Jim: What to do you think about Psychiatric Solutions? With the recent passing of the mental health parity bill that was tacked on to the TARP, is there potential in mental health? It would require health insurers to provide the same benefits for mental health care as for all other conditions. Seems lucrative for a company like PSYS. Thoughts? --Matt
Cramer says: “You’re absolutely right, but it’s not going to be put into action until late next year. In the interim, you’re going to have some rocky quarters. I cannot recommend that stock on that bill.”
Jim: Here's a big booyah from the Brew City, Milwaukee, WI. I am a 19-year-old college student at UW-Milwaukee. I have some money put away in my savings account and I have wanted to do something with it for a long time now. I decided not to when the market started to go down, but now with this big gain I am wondering if I should look into something like Quanta Services, to ride through this recession. Or, should I wait until we start to get out of the recession? Thanks for the advice, Jim. --Brian
Cramer says: “…Brian, you’re 19, OK? You have got your whole life ahead of you. You do not need that money in the next five years. You should be investing, thinking about the next 20 or 30 years…Quanta’s a good one because it’s got good wind, and both presidential candidates believe in wind.”
Jim: Seems like every time any of the President's financial folks go on television, the market goes down! As I watched this morning, the more Ben talked, the farther the Dow went down. Can't they do that stuff after the market closes? --Cliff
Cramer says: “The Great Crash by John Kenneth Galbraith has fabulous insight about what happened every time the administration spoke during that period.”
Jim’s charitable trust owns Quanta Services.
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