Jim: You have been recommending some of the regional bank stocks including First Niagara. I recall you stating in the past that it is important to invest in sectors that are favored by the institutional investors. Almost every opinion voiced by commentators and advisors seem to bash regional banks because of their exposure to commercial real estate. First Niagara seems to be slowly going down. What is it going to take to reverse this trend? --Don
Cramer says: “There’ll be many failed banks coming up – many, many. What’s going to happen – and we’re going to have [FDIC Chairwoman] Sheila Bair on the show tomorrow – you’re going to see banks that are well capitalized, like First Niagara, being able to buy other banks that get in trouble. That’s why I like FNFG. It reminds me very much of some of the banks, like Fleet, that I invested in, in the late ‘80s.”
Jim: I started purchasing Pfizer early this year because of the acquisition of Wyeth. With the acquisition it was said that PFE would be able to see some great profits and returns from the deal. Now with health care and pharma being on Obama's hit list, how could this impact PFE's stock and will it? Thank you for your time and a great big Army Booyah! --Jerome
Cramer says: “Thank you for serving…Pfizer I just don’t think has anything going for it. I don’t think the merger’s going to matter. I think it’s a deadweight stock, and I don’t want you buying Pfizer.”
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