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"It's 1991 all over again," Jim Cramer told the viewers of his "Mad Money" TV show Thursday.
Cramer said there was a looming real estate crisis then and the markets were in a tailspin. He said it was
who sounded the all clear, but its comments were largely ignored. Cramer said the naysayers were proved wrong and the financials recovered.
Cramer said history is repeating itself when
, a stock which he owns for his charitable trust,
Action Alerts PLUS, came out today and said that things are getting better. Cramer believed the call is right on target.
Cramer said that despite all of the worries over continued foreclosures, credit card delinquencies and credit woes, he's putting his faith in JPMorgan CEO Jamie Dimon, who's in the trenches and should know better than anyone else where the market is really headed.
Cramer said those who don't believe JPMorgan's call that the economy is improving are wrong. He said negativity may sound credible on TV, but it's not based on facts.
In the "Executive Decision" segment, Cramer spoke with Moshe Gavrielov, president and CEO of
, to find out why this semiconductor company has not participated in the tech rally so far. Since Cramer last recommended Xilinx on March 17, the stock has stagnated.
Gavrielov said supply issues were to blame for the company not being able to meet its demand. However, he noted that all issues are now behind them and Xilinx is running at full capacity.
Gavrielov said that unlike mass production chipmakers like
, Xilinx makes customized programmable chips that and allows its 20,000 customers to modify its chips to meet their needs. He said the infrastructure is far more complex than more traditional environments.
When asked about the markets going forward, Gavrielov said that Xilinx has a good portfolio of products and the industry is shifting towards the programmable chips the company makes. He said the company is also diversifying away from infrastructure and into consumer, military and aerospace markets in the U.S. and abroad.
Cramer said he would stick with Xilinx and thinks the industry and the company will only improve from here.
Does a disappointing quarter from
mean that the entire cellphone industry is doomed?
says global demand is weak, should you sell everyone? Cramer said absolutely not, and added both of these companies to his "Sell Block."
Cramer said he's seen this pattern time and time again: Weak players in an industry blame the market at large for their own shortcomings. He said that Nokia's own numbers show strong demand for smartphones not the products people want.
In the case of Dell, Cramer said this serial disappointer blamed higher component costs and weak enterprise demand for its problems. Yet just days later,
delivered a blowout quarter. It's easy to surmise then, that all those Intel chips aren't going into Dell computers.
Cramer said he still expects
, which reports next week, to knock one out of the park with their earnings. He said to not let the excuses from weaker players cloud investors' judgement. Cramer said investors need to own some Apple ahead of the quarter.
In his "Eureka Moment" segment, Cramer credited
by David Bunting and Brett Haire at TheStreet.com that finally solved the problem of how to price those bank warrants the government receiveed when it loaned the TARP money.
According to Cramer, the issue of how to price these warrants as banks begin to repay their TARP loans has confounded everyone. Charge too little and the taxpayer pays, charge too much and the banks suffer. The answer? According to Bunting and Haire, it's to auction them off.
Cramer called this solution simple, elegant and brilliant. He said the Treasury already knows how to run auctions, he said, as they auction off bonds daily. And in this case, everyone wins.
Cramer was bullish on
Nordic American Tanker
United Parcel Service
He was bearish on
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At the time of publication, Cramer was long JPMorgan Chase, Wells Fargo.
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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