While Watson acknowledges "great anxiety," referring to "concern" over the fiscal cliff as warranted, he's not slowing down. Chevron will spend money and create jobs in the face of not only economic, but regulatory obstacles.
Watson tells Bartiromo that his company's biggest problem is access to markets. But, again, that's all part of doing business. It's never been easy to be great.
As a really important aside, if you're ever going to invest on the basis of a price-to-earnings ratio, you might as well do it with Chevron. Things might seem stagnant over there now, but, if you're a long-term investor, there might not be a better stock to invest a few bucks in on a periodic basis.Chevron models great behavior for long-term investors. Sometimes you have to save for a rainy day; at other times, you need to spend when it's raining. Fiscal cliff freaks, geeks and worriers will call Chevron an exception. It's a cash cow oil company. It's easy for it to spend through gloom, doom and pending catastrophe. That's a loser attitude. You cannot talk about this issue without bringing up Jeff Bezos at Amazon.com (AMZN) and Howard Schultz at Starbucks (SBUX). Both businesses depend on the allegedly fragile consumer, yet both CEOs lead spending charges of relatively epic proportion. Shoot, at Amazon, you can't call it relative. Outside of resource conglomerates such as Chevron there's really no comparison case for the level of investing (don't call it spending!) the company does. But, it doesn't stop there. You can't forget about fantastic CEOs such as Patrick Doyle at Domino's Pizza (DPZ). Here's a guy who not only took the chance of a lifetime when he beat his own company down publicly as part of its now-famed turnaround, but he turned a pizza business into a tech business. Order some 'za from Domino's online. Play with its iPad app. You'll see what I mean. Digital sales at Domino's have been huge. We're talking a billion dollar revenue stream here.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV