Mad Mail: Hyman Roth Returns to Cuba?
Cramer: Since it seems like half of all companies are pulling out secondary offerings (including banks and brokers), shouldn't that actually help the operations of banks and brokers who sell these deals…getting the system going again like it should be? --Marc
Cramer says: "This is a great, great call. You are absolutely right, Marc. Goldman Sachs has got their hands in almost [all of these]. JPMorgan [Chase] has got their hands in it. That's why I own these for my charitable trust...This Bank of America-Merrill Lynch combination is proving to be incredibly, incredibly aggressive in getting these deals. A lot of business going to the combination of Bank of America and Merrill, which is why that story is better than people think."
Hi Jim: With relations starting to warm up between the US and Cuba, do you think the gaming stocks and resort operators may benefit? Or is it too early to tell? Not that I expect Hyman Roth and Michael Corleone to set up shop again. Any thoughts?? --Joey
Cramer says: "Every time I try to buy something off of Cuba, I come back with the idea that unless it's like a Watsco, which is just an industrial play...the problem with this is these are all tertiary plays. I'm not going there. Too hard to make money. Don't want you to speculate on that..."
Jim: I could not get the Dean Foods’ secondary from my broker. I have had a full-service brokerage account for a long time, but when I called and asked to get in on the secondary, they said no. They said that they only give IPOs and secondaries to people with over a million bucks liquid. Should I dump this broker? Are there other brokers that don't have this million-dollar minimum requirement, or is it fairly standard? --Rick
Cramer says: "It's not standard at all, Rick. And as a matter of fact, if you do a lot of trading, you should get it even if you have less than a million. But...each firm has its own rules. That's why you have to shop around. By the way, the Dean Foods secondary turned out not to work. You could have bought it lower than the secondary, did very well, and now it's above the secondary price. So you got the last laugh, not your broker who called you a small fry."
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