Buy Macy's Stock? Jim Cramer Says Read the Balance Sheet First
Hey investors, looking for some financial education?
Jim Cramer has some thoughts on how to read a balance sheet, which he told TheStreet's Katherine Ross on Monday is key to being successful in this market.
So, how can investors learn how to read a balance sheet if they haven't already?
Cramer gives the example of Macy's.
"Macy's is seeking $5 billion to save itself. Bond salespeople are amazing. They can wine and dine anyone into buying anything. But I this era of Covid-19, can they zoom anyone into anything? I guess so. People bought Penney bonds not that long ago when that seemed -- and was --pathetic. But there is simply no way any investor should buy those bonds unless it turns out that the president has a soft spot for his old partner," wrote Cramer in his April 22 Real Money column.
So, why is Macy's a good example to use when trying to learn about balance sheets?
Watch the full video above for Cramer's full take.
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