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Have I been had? That's how I feel recently about two interviews I conducted on "Mad Money," one with Bruce Carbonari of
( FO) and the other with Rick Goings from
Let me say from the outset that these two companies and these two CEOs have been gracious enough to come on my show to talk about their businesses and their prospects and how they would survive in tough times.
Both have what I call accidentally high yields. Both are upbeat people and like to see the good in their businesses. They are not "downbeat" -- perhaps even when they should be.
That's the real question at hand. Both Carbonari and Goings recently professed some pretty strong beliefs that they could ride through this period with what I would call minor damage, in Fortune Brands' case because it has some noncyclical businesses like liquor, and in Tupperware's case because they have counter-recessionary traits like people needing a second job and so they turn to Tupperware selling.
These stories have not panned out.
Fortune Brands' quarter was awful, along all product lines. Carbonari might disagree with that analysis, but I am not fighting Mr. Market on it. The businesses just aren't holding up well and I don't see the big share take that Carbonari says is occurring.
Goings was on the show just last week saying good things about the future. Last week! Then Tuesday he gave guidance that was so much more downbeat than what he said on my show that I now think I was just plain had.
I don't think either man failed to tell the truth. I do think that Carbonari was just too bullish given the downturn.
But Goings? Let's just say I haven't figured out what happened yet. All I know is that it just doesn't smell right to me.
And people got hurt listening to how upbeat he was a week ago vs. where he was two days ago. Maybe I leave it at that. For now.
At the time of publication, Cramer had no positions in the stocks mentioned.
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