Just as investors had determined that the technology and financials group were in the "no touch" zone, they came roaring back on Thursday. Jim Cramer smelled a fish. Why would money managers leave the very best stocks in order to pick up the ragged and unloved ones?
When Cramer attended CNBC's Delivering Alpha conference this week, he spoke with many big time money managers who seemed completely unwilling to deal with the techs and financials. They didn't seem to like or trust these businesses.
Cramer suspects that money managers have repeatedly gone back to the financials because they were considered "cheap" versus historical levels, and they decided to just give in and deal with them. Yet, they remain too hard to analyze.
"These managers might very well be right, theoretically. But I think it's time we speak truth to power and say just how wrong that's playing out now," the "Mad Money" host said.
Ultimately, the big takeaway from Delivering Alpha for Cramer was that many portfolio managers seem to be scared of the past, so they come up with creative ways to avoid stocks like tech and finance. The only stock that Cramer refuses to touch with a 10-foot pole right now is Apache, which he warned investors in the Lightning Round to steer clear of.
"I don't like Apache. I do not like Apache and the oil group is under tremendous pressure here, and that is one that I don't want to own," he said.
But in Cramer's world there is more than one way to skin a cat—just when you think outside the box to reconsider traditional investment themes, the money flows in.