TheStreet.com TV Recap: Seeing More Clearly on CDOs

 

Cramer said in 1989, when he was trading bonds what he looked for were pieces of paper that didn't have anything to do with the southwest. He said he'd ask if it had any California or Texas exposure and if it didn't he would buy it.

"That's where we're getting in mortgage backeds," he said. Otherwise, "you never hear if it's Novastar, New Century Financial, [etc.] you can't touch it."
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At the time of publication, Cramer was long Citigroup.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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