Cramer: I Stand Corrected

Cramer is never afraid to own up to his mistakes, but he can’t stand it when someone else is right. He’s willing to work on that, though. So he’s starting a new segment, “I Stand Corrected,” where he’ll highlight the stock calls that viewers got right – and he got wrong.

Back on May 3, Kurt in Indiana called about Rogers Communications, the largest cable company in Canada, and Cramer gave it the thumbs down. He stands corrected. In fact, Cramer says RG might be a better company than Comcast and a stronger stock than Charter .

Rogers isn’t a perfect story, but it does have some great potential. Most Americans know about the triple play of internet, cable and phone service that’s boosting revenues for cable companies across the U.S. and increasing their value per subscriber, the industry’s key metric. Well, Rogers actually has a quadruple play – it’s also the number-one wireless provider in Canada.

Wireless penetration in Canada is a couple of years behind the U.S. at only 56%, but that could be a good thing, Cramer says. It just might be a chance for investors to relive the upside that cell phone companies enjoyed in the U.S. over the past year or two.

There’s also the chance that RG could be a takeover target, much like its competitor BCE , which got a bid from a consortium led by a pension company. But Cramer doubts that President and CEO Ted Rogers Jr, the son of the founder and owner of 91% of the voting shares, is willing to part with RG just yet, at least not unless the price was right.

Bottom Line: The triple-play cable theme and wireless theme are both working in the U.S., Cramer says, and there’s no reason to think they won’t keep working in Canada. You find a theme that works, you find a variation on the theme, like RG, and then you buy because that’s how wins are made.

Questions? Comments?