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NEW YORK (
) -- "When the market sells off, you need a long term thesis to fall back on," Jim Cramer told viewers of his "Mad Money" TV Show Wednesday.
He said whether the markets are engaged in a routine pullback or are catching a cold from half way around the world, investors need to stick with the stocks they know are working.
Such is the case today, he said, when not even a Republican win in Massachusetts could save the markets from Chinese economic policies. But regardless of the headlines, Cramer said investors need to always focus on the future, and he found the future in an article in the
The New York Times
Cramer said the article entitled "If Your Kids Are Awake, They're Probably Online," is yet another bit of research that confirms his "mobile Internet tsunami" thesis that digital media and smartphones will be a bigger revolution than the Internet or PCs.
Cramer said the world is on the cusp of a new way to live, a world where everyone is always connected, and can consumer digital media, whether it be news, music or TV, anywhere they are. He said the number of stocks benefitting from this trend are almost as limitless as are the possibilities of a digital future.
, a stock which Cramer owns for his charitable trust,
Action Alerts PLUS, still remained his favorite stock in the group.
He said that he expects to hear good things from
when it reports later this week, but the stock will likely be overshadowed by its on-going battle with China. Cramer also gave the nod to game maker
( ERTS) for its social-gaming initiatives.
Cramer ran through a laundry list of other names, including
, along with stocks from networking to chips to cell towers like
, another Action Alerts Plus name,
. All, he said, will be big players in the new digital landscape.
In the "Executive Decision" segment, Cramer sat down with Ron Hermance, chairman, president and CEO of
Hudson City Bancorp
, a stock which is flat for the year, despite continued strength in earnings.
Hermance painted an optimistic picture at Hudson City, saying that the company wrote off only 0.25% of its loan portfolio last year, eight times less than the industry average. In addition, Hudson wrote $9 billion worth of new mortgages, many of which with large down payments. Over the last 10 years, the stock of Hudson City has risen 583%.
When asked about expansion and acquisitions, Hermance said that while now is the opportune time to expand rapidly into hot areas like Florida, "it's not their style," and they're looking at a more disciplined approach.
Turning to the future, Hermance said that properties are starting to sell again and delinquencies are starting to recede, but he noted that those homeowners who are in trouble are not benefiting from government loan modification program.
Foreign Oil Addiction
In a special interview, Cramer welcomed famed investor and oil tycoon Boone Pickens to the show to discuss his latest efforts to break America's addiction to foreign oil by embracing natural gas as a bridge fuel for the future.
Pickens said that America's dependence on foreign oil is most definitely a significant national security issue. He said the U.S. State Department recommends its citizens don't visit hostile countries, yet we import 4 million barrels a day of oil from these same countries.
Pickens blamed the debate over health care for putting the nation's energy policy on hiatus, but said that he's confident that the country will have a natural gas bill by Memorial Day. To date, Pickens has spent $62 million on his efforts to waken the nation to the fact that the U.S. has the equivalent of 350 billion barrels of oil, twice that of Saudia Arabia.
Pickens laid out a simple plan that calls for building a national gas infrastructure to allow the sale of 8.3 million natural gas trucks and buses, something that will create tens of thousands of jobs. He said that with just that small number of natural gas vehicles on the road, the U.S. would cut its oil imports in half.
When asked why its taken so long for natural gas to evolve to this level, Pickens said the U.S. has always had the gas on our soil, the technology just wasn't there to access it. But, he said, the technology is here now.
Cramer followed up on two stocks that stumped him earlier in the week. He said that
is not a bad company, but its earnings are too dependent on selling into hospitals. He said he would not be a buyer.
, another stock that stumped Cramer. He said the company has a good business model, but competition is taking its share and he would not be a buyer.
Cramer told a view that
, with its 6% dividend yield, is a stock that he still likes, and that
is a great mobile Internet stock.
Cramer was bullish on
Air Products and Chemicals
Polo Ralph Lauren
He was bearish on
True Religion Apparel
-- Written by Scott Rutt in Washington D.C.
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At the time of publication, Cramer was long Apple, Cisco, Marathon Oil.
Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."
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