Jim Cramer is thrilled that Ben Bernanke has been tapped to become the new
chairman "because he's not Alan Greenspan," Cramer said on his
"RealMoney" radio show Monday.
Cramer believes that Greenspan stayed too long, and it's time for someone who understands that "finance has advanced well beyond the Fed's ken under Greenspan."
Cramer is critical of Greenspan's handling of the 2000 stock market bubble and his efforts to cool the housing market. In 2000, instead of raising margin rates to prick the stock market bubble, said Cramer, Greenspan bludgeoned the entire economy by raising all interest rates, which caused "one of the worst recessions we've ever had."
This year, Cramer said, Greenspan has again used the blunt instrument of raising interest rates to cool the housing market when he simply could have cracked down on interest-only mortgage loans.
Cramer is also critical of Greenspan for staying silent on budget deficits and for "obfuscating and confusing us" with his language on the economy. Cramer believes that Bernanke will speak up about budget deficits and will use plain English to communicate.
In Monday's "Stealing Stocks" segment,
contributor Len Dykstra was bullish on
Cabot Oil & Gas
, which will report earnings Thursday. Cramer said Cabot was a "pretty inexpensive stock."
In response to a question about
, Cramer said he was puzzled by the stock's recent selloff. But, given the recent price action, he isn't positive short term. Long term, he said, "there's nothing the matter, and that's what matters the most."
, which reports earnings Monday afternoon, Cramer said the stock has sold off recently in sympathy with
That's a mistake, he said, because Broadcom reported a strong quarter, and he believes that Texas Instruments' quarter will also be strong. Cramer is looking for EPS of 40 cents and long-term gross margin of more than 50%. He believes that both Texas Instruments and Broadcom are buys.
In response to a question about options, Cramer said the vast majority of individual investors should ignore options. But, if one wants to learn more, Cramer would recommend reading the section of his book,
Jim Cramer's Real Money: Sane Investing in an Insane World
, that deals with options.
A caller asked about
. Cramer said "I don't want anything to do with Sanmina." Cramer said a top executive had recently left the company and that overall, contract manufacturers such as Sanmina, have not delivered recently.
In response to a question about
, Cramer said he believes that the company will achieve his $1.39 EPS target and that he would not sell Exxon here.
Cramer would prefer to own
Mitsubishi UFJ Financial Group
, the best bank in Japan, he said, than the
iShares MSCI Japan Index
is "too low to sell," said Cramer.
Cramer believes that
will be dead money for the next three months. The company is "less caught up in the greatness of the Internet," he said, than other Internet plays.
Furthermore, he feels that eBay made a mistake buying
. If the market goes up big, said Cramer, eBay could also go up. But, you're in hope mode, he said. There's "nothing cooking at eBay."
is too cheap, said Cramer.
Cramer said he was hesitant to recommend any Canadian oil and gas trusts while the Canadian government is considering changing the tax posture for
Fording Canadian Coal Trust
( FDG). He fears the same thing could happen to oil and gas trusts north of the border.
He said that
reported good earnings this morning. The selling in
( CD) is way too aggressive, he said, relative to what the company will be worth when it splits itself up.
Finally, with last week's
( RFXCQ) liquidation out of the way, the market looks and feels much better, said Cramer.
At the time of publication, Cramer was long Cendant, Fording Canadian Coal Trust and Intel.
James J. Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, 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
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