Cramer: Brokers Could Be a Gift

This column was originally published on RealMoney on May 25 at 6:36 a.m. EDT. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

Oh, I see, I have to sell the brokerages again because of mortgages. And I have to do it because the "bad mortgage/slowdown mortgage" story isn't yet reflected in the stocks.

I can't tell you how many times, when I first got into the hedge fund business, I would be long a stock and read a hit piece in the media about a stock and think, just my luck, something that we all knew, something that my sources know won't matter, gets into the paper as the only thing that matters. I would have been buying Lehman(LEH Quote - Cramer on LEH - Stock Picks) or Merrill(MER Quote - Cramer on MER - Stock Picks) because I knew the numbers were too low because of the important divisions that were hitting it out of the park, and the immense fees they are generating and then I would be blindsided by a view that was either already in the stocks because it has been gone out with by a firm -- the Bear Stearns(BSC Quote - Cramer on BSC - Stock Picks) estimate cut earlier in the week that got picked up by the papers today -- or was already refuted, not that it mattered.

Then, later, when I realized that you don't get gifts that often, gifts of misinformation that create pockets of opportunity (see my piece yesterday about the widely reported panic at Medco(MHS Quote - Cramer on MHS - Stock Picks) that took that stock to $72) I would just stand there and buy the ferocious selling at my price.

And that's when I started to outperform on a serious month to month -- not day to day, you will not make money if you buy these stocks today because there's a full day affect to a nuclear press detonation -- basis.

Goldman's(GS Quote - Cramer on GS - Stock Picks) having a remarkable quarter. (At least we know now why it got hit so badly yesterday, don't you feel better?) Let it come in. When it falls there is always a tremendous air pocket.