Should you believe in General Electric (GE) ?
Jim Cramer thinks that Larry Culp, CEO of GE, buying a hefty amount of stock might be a good sign looking ahead to 2020.
In a filing, Culp disclosed that he bought 331,684 shares for around $3 million. This brings Culp's total shares to 942,668, or around $8.5 million.
But yes, that's right, 2020, not 2019.
Why is the date important?
"Larry Culp doesn't buy [$3] million worth of stock--which is just how much he's done now--idly. Larry Culp is a brilliant guy. I liked him a lot at Danaher. He said that this was going to be a reset year. He never said that this was going to be a good year. So for him to buy, I think is confidence for 2020," said Cramer.
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