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NEW YORK (
) -- "Today was a perfect example of why you should love, not fear, market pullbacks," Jim Cramer told the viewers of his "Mad Money" TV show Wednesday.
He said many of the market leaders that were shot down earlier in the week, came roaring back today, and if investors has used the weakness to buy in, they'd be profiting handsomely.
Cramer reminded viewers that earlier in the week, everyone seemed terrified that the leaders in tech, including
, were down for the count. That was, everyone except Cramer.
Contrary to the market consensus, Cramer advised investors to look at the market weakness as an opportunity to buy into great companies, including his tech favorites of Apple, Google and Amazon.
Investors who followed Cramer's lead were rewarded today, as all three stocks came roaring back to life. Cramer said its usual, not unusual, for high flying stocks to pull back. Apple, in fact, has pulled back more than 10% five times in 2009. Yet, Cramer said there's nothing wrong with Apple when it pulls back, it's just profit taking.
Cramer reiterated his buy on all three tech bellwethers, along with
Cramer said 2010 will be a watershed year for tech, and investors need not worry about a little market weakness.
Propane Distribution Play
In the "Executive Decision" segment, Cramer spoke with John Sherman, president and CEO of
, one of the top four largest propane distribution companies in the country. Cramer featured the company just last week, noting that propane stocks offer investors stability and large dividend yields.
Sherman said that while weather does play a factor in how well his business performs, most of the company's customers use gas for cooking and water heating, which offers recession-resistant cash flows for the company. He noted that Inergy's other business, storing and transporting gas for large utilities, is growing thanks to new discoveries in the Marcellus shale region of the Northeast.
Sherman noted that one of Inergy's challenges is simply storing all of the gas it has access to. He said while storage facilities around the country are full, Inergy is bringing additional storage capacity online early to meet increased demand.
When asked about long-erm growth prospects, Sherman said Inergy is well positioned to grow its storage and distribution business, and with 60% of the propane market still in the hands of smaller, independent companies, the prospects for acquisitions exist as well.
Cramer called Inergy a great business with great management and told viewers to stick with any company that can double their money in just nine years on its dividend alone.
Continuing his "Invest In America" series, Cramer spoke with
president, chairman and CEO David Cote, a man who Cramer has billed as a transformational CEO.
Cote, who recently attended President Obama's national energy summit, said that he told the president that he has two concerns when it comes to the nation's energy policies. He said that first, the U.S. needs to be driving energy efficiency for its own security and to compete globally. And second, Cote said the U.S. needs more jobs, which can be created by creating demand for new technologies.
Cote said that programs such as Obama's "cap-and-trade" program for carbon emissions, would create the demand for more energy-efficient technologies. He said the naysayers that feel cap and trade is too expensive should look at the Clean Air Act, which was also touted as too expensive, but proved to be great for the environment and a boon for new technologies.
Cote said that most businesses don't take energy efficiency seriously because they look for a return on their investments in just one year. Energy efficiency projects ,he said, often take three years to break even.
He also said that utilities are encouraged through incentives to sell more energy, not less, which is counter intuitive. Likewise, building owners who invest in energy efficiency don't see the rewards, their tenants do. So for all these reasons, Cote said the government needs to step in and get people interested in change.
Regarding alternative energy, Cote said that while wind and solar get all the attention, the real excitement is in biofuels and natural gas, which has made huge new discoveries.
Cramer said he continues to be a believer in Cote, and in Honeywell, as it helps move the country towards a new energy-efficient future.
Am I Diversified?
Cramer talked with callers to see if their portfolios have what it takes. The first caller's portfolio included
Procter & Gamble
( TLAB) and
Cramer called this portfolio "beautiful."
The second caller's top holdings included
Cramer said this portfolio was "perfect."
The third caller had
as their top five stocks.
Cramer said this portfolio has four of a kind with Apple, Ebay, Microsoft and Tessera. Cramer said he'd keep Apple and Ebay and sell Microsoft and Terresa in favor of a healthcare and an industrial stock.
The fourth caller's top stocks were
Procter & Gamble
Bank of America
Cramer said he'd sell Xerox for a healthcare stock, but otherwise he likes the portfolio.
Cramer was bullish on
He was bearish on
-- Written by Scott Rutt in Washington D.C.
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At the time of publication, Cramer was long Procter & Gamble, Home Depot, Ebay and Bank of America.
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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