Jim Cramer's Best Blogs

Jim Cramer fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:

• how concerns about the banks are getting debunked,
• why investors shouldn't be so quick to give up on Wells Fargo, and
• understanding oil's impact on stocks.

Click here for information on RealMoney, where you can see all the blogs, including Jim Cramer's -- and reader comments -- in real time.

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A Lot of Bank Worry Is Getting Debunked
Posted at 6:35 p.m. EDT, Oct. 22, 2009

American Express(AXP Quote) and Capital One(COF Quote) both shoot the lights out. But we worry endlessly about credit losses.

Visa(V Quote) just boosts its dividend, but we worry about consumers not shopping. U.S. Bancorp(USB Quote) and PNC(PNC Quote) both report charge-offs that are better than expected, but we throw up our hands at deadbeats and worries of soon-to-spike defaults.

Wells Fargo(WFC Quote) says Pick or Pay and higher-end mortgages are on track to improve, but we see housing prices declining and more people walking away from premium mortgages.

And you know what? I am sick of the grousing about all of this stuff and how these stocks are all houses of cards or overvalued or doing the wrong thing or about to get killed or falter or how they are liars about everything.

They can't all be lying. It isn't possible.

Nor do I think that it is right to let State Street(STT Quote) or Citigroup(C Quote) or Bank of America(BAC Quote) bring all the stocks down in the group. Each has its own set of issues that will be dealt with over time.

If I were Goldman Sachs(GS Quote), I would buy State Street -- great biz to have. Bank of America will take time to rebuild, but if employment takes a turn for the better, I think you make 50% rather quickly. Citigroup? It wasn't all that bad, because it is busy trying to reduce Citi Holdings. We don't know what they hold, and we don't know what they are selling, but I hope they are selling their bad loans to fund the good like Bank of New York(BK Quote) did, which caused that nice eruption.