Skip to main content

This column was originally published on RealMoney on Nov. 10. It's being republished as a bonus for readers. For more information about subscribing to RealMoney, please click here.

People will chase


(CNXT) - Get VanEck Vectors ChinaAMC SME-ChiNext ETF Report

today. They always do. You can't resist.

It's a $2 stock. It just got

a big piece of business from



for set-top boxes.

No can do. I'm still daunted by the news of the

big refinancing of some of Conexant's debt.

I usually don't mind some debt. But this company's had the worst balance sheet for so long, and all that has happened is that its interest expense has gone up.

When I went out as bullish on this one when it got to one and change, I figured the risk reward was pretty good. Now we are right back to where it becomes problematic.

Don't get snookered. This company is simply


TheStreet Recommends

investible until that balance sheet is fixed. This big refinancing isn't the fix.

Random musings:

College students, listen up!


is offering you something special... a free subscription through May 31, 2007. The only requirement: You must have an email address that ends in .edu. Email

to accept my personal invitation to come read my blog every day, plus all the other writers on that great site. Pass it on!

At the time of publication, Cramer had no positions in any of the stocks mentioned in this column.

Jim Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click

here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click

here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click

here to get his second book, "You Got Screwed!" and click

here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by

clicking here. has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from