We've seen an immense amount of skepticism if not outright scorn of CEOs during this bitter lost decade of equities. I know that it's often wrong to put too much stock in any one leader, given the now checkered track record of so many CEOs who had seemed incapable of missing numbers and disappointing investors.
But Schultz? He's two for two. And let me say that the triumphant return of Schultz was not trumpeted by the man. He made it clear when he came back that the turn would not be done in months, quarters or maybe even years. But it would turn.
He's now saying the same thing about Europe that he said about the disappointment in the U.S. years ago. The turn will be gradual, it will be long in the making, but it will occur. And today he said it has started. I am going with Schultz, not against him, because it has been a horrendous bet to go against Schultz in either the first or the second iteration of his leadership, and I think it will be a horrendous bet once again.
Action Alerts PLUS, which Cramer co-manages as a charitable trust, has no positions in the stocks mentioned.
Tech Is Treacherous Posted at 1:33 p.m. EDT on Wednesday, Sept. 19 Get me some tech! I need new names here! That used to be the war cry I had at my old shop every September because I wanted to play the annual seasonal trade in this huge part of the S&P 500. What hasn't moved yet? What has lagged, and what is about to play catch-up? Give me some merchandise! Suffice it to say that those screams for new ideas aren't working any more. Tech is more treacherous than I have ever seen it and not because of potential shortfalls. It is treacherous because it feels like tech as we know it is going away. This morning's downgrade of the semiconductor equipment sector is just one more nail in the coffin of the traditional places to run to if you want to own some tech to participate in the annual love fest. Nobody wants to own stocks of companies that pump out expensive machines that make chips for customers who are frantically trying to cut their equipment budgets.
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