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Cramer on BloggingStocks: Beware the financial dirty dozen |
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| Jul 03, 2008 09:00 AM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Ford Motor (F), General Motors (GM), Market matters, Citigroup Inc. (C), Bank of America (BAC), CIT Group (CIT), Merrill Lynch (MER), Federal Natl Mtge (FNM), Amer Intl Group (AIG), Wachovia Corp (WB), Washington Mutual (WM), Lehman Br Holdings (LEH), Stocks to Sell, Cramer on BloggingStocks, MBIA Inc (MBI) TheStreet.com's Jim Cramer says he has no confidence in these hated names, and neither should you. The financials are flying -- there are finally bids for most of them underneath. Many, including Lehman (NYSE: LEH) (Cramer's Take), are running. What a great time to put the negative cards on the table and put the negatives in perspective. That's right, let's look at the financial Achilles' heels. What could go wrong? In other words, here's the companion piece to Doug Kass' positive conversion. Here's what I am worried about even as Doug thinks everyone's too worried and the bottom is being put in. To get started, let's look at what's not causing the endless declines in the stocks -- don't worry, we will get to the financial dirty dozen when I finish this preamble. First, it ain't earnings. Earnings aren't going to be that great. But that's why the S&P is at 14 times. It can go to 12 or 11, or most likely stays at 13-14, but the E goes down (earnings). Second, it ain't oil. The stocks sensitive to the increase in oil have room to go down, but the price of oil is being factored in slowly but surely. Third, it isn't inflation or recession. Those two are being baked in each day. Continue reading Cramer on BloggingStocks: Beware the financial dirty dozen Permalink | Email this | Comments<map name="google_ad_map_145-1244676"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1244676?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map> 
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