Cramer's 'Mad Money' Recap: Giving Credit Where It's Due
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NEW YORK (TheStreet) -- Let's give credit where credit is due, Jim Cramer said on "Mad Money" Wednesday. While some investors credit the market's rally to Federal Reserve Chairman Ben Bernanke or a global economy that's on the mend, the real heroes of this market are great CEOs.
This quarter more than any other, investors have been able to see how great CEOs respond to changing market conditions and lead their companies to greatness, said Cramer.
Case in point: Whole Foods Markets (WFM). Cramer said this stock was largely felt to have passed its prime last year and lost its way with customers. But did the company listen? Not a chance.Whole Foods has been hard at work adjusting to changes and accelerating its store growth, allowing it to post unbelievable numbers today. He said Whole Foods could open four times as many stores as it has now and still not have enough to serve its rabid fan base. Whole Food is a buy, Cramer concluded, even after its 10% pop in today's trading. Then there's Walt Disney (DIS), another stock that was written off and left for dead last year. Cramer said this company remains intensively competitive and was able to surprise shareholders with remarkable earnings that included growth in multiple categories. Another winner, EOG Resources (EOG), appeared on "Mad Money" just last night, said Cramer. There, too, a visionary CEO is leading his company into a far more profitable future than anyone thought possible. Cramer said that all of these companies are buy, buy, buys.
Market ConfidenceThis is what a rally looks like when Washington gets itself off the front page, Cramer told viewers as he opined on the continuing budgetary issues facing our nation. Cramer said many of our country's issues remain but, now that we're not heading towards another immediate crisis, confidence has once again returned to the markets and rising stock prices have been the result. He said investors need to remember what the markets looked like just a few months ago, when the markets fell on every press conference given by President Obama or anyone in Congress.
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