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Thursday, March 14, 2013

american companies that are making a lot of money credit for what they're doing

arer. s&p 500 up about six points. jim cramer at the new york stock exchange. becky had had a nice shout out earlier about some of your comments about the consumer. i saw a little tweeting action going on. she said -- it was just another optimist, moronic comment. people say what does he know? he's siding with walmart and costco and home depot. i'm simply listening to the companies. others want to listen to the commerce department, the gasoline tax. there's a lot of good things happening. thank you for bringing them out even in the face of people who just want to talk about how it is all fed induced and a big joke. man, people making a lot of money on this joke. hold on. are we giving bernanke credit then? no. i'm giving general mills credit and google credit and companies like -- i'm giving companies like tyco credit for splitting up and creating so much wealth or kraft credit. i'm giving american companies that are making a lot of money credit for what they're doing. we can make a judgment that perhaps dupont is not doing well and we look at another 28 companies that are doing incredibly well. i just want believe how well corporate america is doing. it's not bernanke. but some of these companies are not as stupid as they used to be. obviously i believe this quantitative easing contributes to it. and that it's not all just the companies in terms of the risk-on strategy, the speculative bubble that we may be building again. i don't know. what is risk on? does that mean kellogg? is risk on u.s. steel? is that equity? is that a treasury? what's risky? to me a treasury is risky. j&j has a much better balance sheet than any other country in the world. is that risky? i don't know. i'm just a hedge fund manager that's come to tv. i don't know what risky means. what stocks are you looking that the morning? apple being upgraded by a guy who hated it. amazon downgraded by a guy who loved it. i think those are interesting calls. people saying why is the consumer still buying when the consumer's supposed to be strapped? i marvel at people who read top-down numbers and shoe-horn the thesis and be wrong about the stock market every day. every day. which way do you think amazon's going? i don't know. the stock has been a favored stock. there is a possibility that ebay, the third party business, a lot of people defending that today is going to take some share from amazon. i don't want to get in front of amazon because that's getting in front of a juggernaut but i do believe the stock's had a very nice run and it should pause. all happy bull markets are the same. okay? that's perfect. jim, we will see you in a few minutes. when we come back our guest
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