Jim Cramer talks to Debra Borchardt about the latest hack attack at the CIA, and what companies are on the leading edge of cyber security.Below is a transcript.
Debra Borchardt: Jim, lets talks about the CIA site. It was hacked. Jim Cramer: Yeah, isn't that something. Deb Borchardt: Its all over the news. But there are ways around this because there are many internet security companies, some that our Bryan Ashenberg has uncovered a long time ago.Jim Cramer: Right, right. Bryan had been dead right on this one. That's at BreakoutStocks.com.Debra Borchardt: He's has been so ahead of the curve. So let's talk about some of those names.
Jim Cramer: We like Fortinet because it's a soup to nuts outfit. We like Websense because you know it's a Cloud. You know, I mean, I think when you see, I think when you read one of these hackings, I think you say, 'Oh boy, I want a Cloud, if people can get hacked.' I don't think it's as bad as people think. But you know, I was talking to some people at Dell and Dell has really accentuated this. They're offering solutions for security and they are talking about billions of attempts to hack every single day. Billions. I mean, so I mean, I think you just have to say well look, by default, I got to bring in a Fortinet which has humans monitoring it which we really like. Again, I want to encourage people to got to Bryan Ashenberg because he's got, you know a lot of my work is derivative of his. I've never cared about pride of authorship when it comes to stocks. But look, this hacking theme, like the trade down theme that I'm emphasizing, these are ones where the stocks have been wildly expensive because of CIA. Because of IMF.
Debra Borchardt: Citigroup, they got hacked.Jim Cramer: Yea, Citigroup. But the whole market. I mean I got a new ATM card in the mail from JP Morgan, the other day and I called JP Morgan and I said listen I didn't lose my card. Well, they were hacked. Yea. Debra Borchardt: That's scary.
Jim Cramer: They were hacked. The note said, well somebody may have your number. Well, that's telling. So I mean, I just think that this is a theme that doesn't require any economic boast. I think you have to be cognizant of the seams. These stocks had not come in. So you were kind of like betting on stocks coming in to buy these. There was no reason to pay up for Fortinet. We were just doing it because we just said everything's coming down so what's going to snap back? Everything's coming down so what's going to snap back. Food, it's Treehouse. Everything's coming down so what's going to snap back? Internet security, its Websense, it's Fortinet.
Jim Cramer: I think that we are in a lowered, a lowering standard of living economy, so think what that does and who wins there. And we are very much in a cyber-hack economy and so I am just trying to kind of figure out themes that you can buy on the way down and web security is as good as it gets. Debra Borchardt: Alright. Great. Thanks Jim.
At the time of publication, Cramer was long XXX.