J.Crew’s last quarter was so good, Cramer said on Tuesday’s Stop Trading!, that he wants to have CEO Mickey Drexler sign the conference call for him as a memento. “The guy is my hero.”
Turning to the mortgage crisis, Cramer said people are being “mortgaged out,” not “priced out” of the market. The issue speaks to CEO confidence more than anything, he said. But confidence is tough to get when the extent of the damage is still so unknown.
Cramer said the best thing would be if the banks that had collateralized debt obligations on their books would “step up” and take the charges to instill some confidence in the beaten-down market.
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