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] at $13 and rode it up to almost $19 where it is now. I read a few articles that indicate VALE is a long term play on Brazil as an emerging market. That said, I’ve heard China is negotiating a cut in their iron ore prices by 40%. What should I do? --SandroCramer says: “Vale is a large iron producer. China is a big consumer of iron. I don’t think China’s going to be able to cut its bill like that. I think you could stick with Vale fundamentally. But the fact that you’re up six points on it tells me that you should be taking that money that you put in out, let the rest run. You can play with the houses money. It’s a terrific situation to be in.”
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Jim: What happened to DigitalGlobe [DGI
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]? I picked up the stock in the range you suggested, between $20 and $22. Since its IPO, the stock has been down everyday. I was wondering if you could enlighten me on why and how come this is happening. The company looks good. I don't understand. --Dennis
Cramer says: “First of all, GeoEye [GEOY
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] reported a bad number right around the time of [the IPO]. That knocked it down. What I was trying to do was get you in the IPO, not pay $20 to $22. I was trying to get you to go to your broker and say, ‘Listen, I’m willing to pay $22.” That way you would get what you wanted, if they priced it below. They did, they priced it at $19. So the idea was, not to pay $22 when everyone else is paying $19, but to actually get it at $19. If you didn’t get in on the IPO, then it wasn’t worth doing…because I said above $22 there’s just too much risk and not enough reward. So I apologize for those who got confused. But my $22 top was so that you got in on the IPO priced at $19. Not so that you went in the aftermarket…I do not recommend ever buying these IPOs in the aftermarket. The idea is to get in on the IPO – not to pay up after.”
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