Jim Cramer
It's funny how all of the bad ethanol stocks drove out the one good one, Archer Daniels Midland (ADM Quote - Cramer on ADM - Stock Picks).
As the bankers layered on one ethanol company or alternative energy company after another, you got this Gresham's law thing going where the good were indeed driven out by the bad, to the point where this double-digit grower was selling well below the market multiple. It was almost as if it got the worst of all possible worlds: a fad-that-peaked multiple along with a refining multiple. Holy cow. That's horrible. Today we see real accelerating earnings power and growth, much more than the Street thought possible, and we are going into an election cycle that will make it so we will all beat our swords into plows and grow crops that get sent to ADM. The idea that this company deserves less than a market multiple at this point seems pretty absurd. I am looking for multiple upgrades of this company. Look at it another way: It's like Yahoo! (YHOO Quote - Cramer on YHOO - Stock Picks). It existed before all the flotsam dot-coms, got obscured and taken down by them, and then started shining. Don't worry about how Yahoo! is now. Just think of it a year ago, and you know what can become of ADM -- nothing but higher prices. I would not be averse to buying it up 5, let alone up 2 and change. This was a breakout quarter, plain and simple. At the time of publication, Cramer was long Yahoo!.
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