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"A few CEOs are so inept and so incompetent, you wonder if they are trying to sabotage their companies," Jim Cramer said on his "Mad Money" TV show Friday.
As an "equal opportunity critic of bad CEOs," Cramer believes that these stocks can only be owned if investors foresee these CEOs as on their way out.
Seven CEOs currently sit on Cramer's Wall of Shame. However, he said that three of the seven have recently "disgraced themselves even further."
While Cramer owns
Action Alerts PLUS charitable trust, Cramer has long been "spearheading" a campaign to have CEO Chuck Prince removed. He named Citigroup's management team as the worst he "has ever seen," partially due to misguided investments. Cramer said that "only their huge deposit base will save them."
Another CEO who did poorly this week was Vincent Sollitto of
. His company's stock lost 35% of its value this week. Cramer believes that was due to underdelivering in its last earnings report and blaming its Asian partners for its problems.
Cramer also doesn't like how Sollitto said everything was great with Syntax when he appeared on "Mad Money."
The third self-disgracing CEO was Patricia Russo of
. Cramer believes she carries a "remarkable" lack of vigor in her execution. There is no significant growth in revenue and the company's orders are shrinking. Under Russo's leadership, Alcatel is missing "the great telco sector boom" that it should be thriving in.
Cramer said that these CEOs will have to leave before these companies can thrive. Cramer still likes Citigroup, but said that Syntax Brillian and Alcatel Lucent are immediate sells.
Fed Game Plan
In his "Game Plan" segment, Cramer said that he is struggling to find a way to look at the glass as half-full. He hopes the
will cut interest rates but said he was not certain.
Cramer looked at three Fed scenarios. The first would be no rate cut at all, which could lead to "armageddon." The second would be a quarter-point cut, which would still be a bad outcome. Similarly, the third possibility, a half-point cut, would be another bad outcome.
Cramer said that both a quarter- and a half-point cut would cause many investors to "sell hard." Instead, investors should consider defensive stocks like
, and "wait for the investors who wanted a bigger
rate cut" to do their selling.
On Wednesday, investors should look into buying infrastructure and agriculture-related stocks, Cramer said.
If there is a half-point cut by the Fed on Tuesday, investors should look into buying high-quality financial stocks. Cramer likes
and its 5% yield in addition to
, which he owns for Action Alerts PLUS.
'Fantasy Football' Portfolio Starting Lineup
Cramer reminded viewers that it takes many of the same skills to build a strong fantasy football team as it does a winning stock portfolio. On Friday, Cramer unveiled his fantasy team picks.
For quarterback, Cramer selected
. He believes that Exxon will repeat last year's strong performance, as it is consistent. Exxon was compared to Peyton Manning of the Indianapolis Colts, who has "amazing timing with running the offense."
The defensive team pick was
Medco Health Solutions
. Cramer says Medco can perform well in a squeezed economy and sees it going to $100, ultimately comparing its defensive strength to that of the New England Patriots.
Filling the tight end position was
Enterprise Products Partners
. Cramer likes Enterprise's 6.5% yield, which keeps the stock safe, although it is still on the offensive. The stock was compared to Dallas Cowboys TE Jason Witten, who blocks well.
The wide receiver tapped was
Research In Motion
. Cramer said that things are falling into place for the company, whose market share is as good as ever. They are "doing fabulously by every metric" and "could double again." Their growth and potential reminded him of Randy Moss of the New England Patriots.
Finally, as running back, Cramer chose
Freeport-McMoRan Copper & Gold
, which he owns for Action Alerts PLUS. He believes that the stock "should survive whatever the economy throws at it."
It is not only cheap, but a growth stock as a producer of copper, which is on the rise in China. As his NFL equivalent, Cramer suggested LaDainian Tomlinson of the San Diego Chargers.
In his "Mad Mail" segment, Cramer's first writer asked if
, which he owns for his charitable trust, is a CEEMEA ("Central and Eastern Europe, Middle East and Asia") play. Cramer said it is, and he foresees growth for Caterpillar in developing markets.
Cramer's second writer questioned the need to diversify, as the viewer held 65% of her portfolio in the tech sector. Cramer disagreed with her portfolio and ideology, noting how many people lost fortunes in the dot-com bust of 2001.
Responding to his final letter, Cramer was asked why
, which he owns for his trust, is a "good way to play"
. Cramer said that EMC is cheaper and less risky as an investment, yet it still succeeds if VMware performs well.
Cramer was bullish on
Research In Motion
Suntech Power Holdings
Inverness Medical Innovations
Blue Coat Systems
Central European Distribution
Cramer was bearish on
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At the time of publication, Cramer was long Caterpillar, Citigroup, EMC, Freeport McMoRan Copper & Gold and Goldman Sachs.
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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