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NEW YORK (
) -- "There's a lot of nonsense on Wall Street," Jim Cramer told the viewers of his "Mad Money" TV show Thursday.
Case in point: today's retail sales numbers, which were widely reported as painting a "mixed picture" for retailers, he said.
"This wasn't a mixed picture," argued Cramer, "it was a grand slam!" He said that among the 13 retailers he follows closely, all reported numbers that were better, not worse, than expected.
Everything from the high end, like
, to the low end, like
were right on the money, said Cramer.
Yet despite retailers like
reporting a great number and raising guidance, Cramer said the media instead focused on the word "cautious" to describe the company's outlook.
Why? Because no one on Wall Street admits when they're wrong, said Cramer. There's more accountability in sports, he said, than there is with your money.
Cramer noted that while the pundits debate the merits of the retail numbers, stocks like Target and countless other retailers, are near their 52-week highs. He said that lean inventories this holiday season mean less discounting and higher profits.
Cramer said investors have a choice, they can listen to the media, and miss out, or stick with the facts, and profit.