Cramer's 'Stop Trading': The Reign of Thain

Jim Cramer says John Thain will do well at CIT. But what will he do for the company?

Author:
Jeanine Poggi
Publish date:
Feb 8, 2010 3:07 PM EST

NEW YORK (

) --

CIT

might have nabbed ex-Merrill Lynch leader John Thain to be its next CEO -- but while Thain should do well for himself at the firm, Jim Cramer said Monday's "Stop Trading!" segment that he isn't so certain about what he will do for CIT.

"Wherever he goes, he does great," Cramer said on CNBC. "He did great at the New York Stock Exchange, Merrill Lynch and

Goldman Sachs

(GS) - Get Free Report

. He does great

himself

... but the institution may not fare as well. But I am a diplomat," Cramer said, trying hard to sound diplomatic.

"I predict Thain will make millions at CIT. Shocker!" Cramer continued. "Thain is his own best ally and his own best advocate."

On a less contentious subject, Cramer said that despite

Polo Ralph Lauren's

(RL) - Get Free Report

lousy third-quarter conference call last week and disappointing guidance, investors have seen the worst and should start thinking about buying the stock.

"Analysts got so caught up they didn't listen to what the company said," Cramer said. Cramer added that he expects the first-quarter won't be very good for Polo Ralhp Lauren, but isn't dissuaded from recommending the stock.

-- Reported by Jeanine Poggi in New York.

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