“I think you have to be willing to say, ‘I missed it,’” he said.
In tech, investors’ confidence in companies seems to exist irrespective of their actual knowledge of how well these firms are doing. Research in Motion did beat the earnings estimates it had lowered before its quarterly report, but the only positive news at Yahoo! is new management and Steve Jobs’ sick leave definitely hasn’t hurt Apple .
“We don’t know how these companies are doing,” Cramer said, “but we’re buying first and we’re now asking questions later.”
“It’s big,” he said.
“No one’s doing better,” Cramer said, “but the stocks are saying that they will. And it’s very confusing to people.”
Watch the video for Cramer’s latest on CEO compensation and his report card for President Obama’s economy work.
Cramer's charitable trust owns Nike.
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