Cramer's 'Mad Money' Recap: Some Rays of Hope
NEW YORK (TheStreet) -- Be gloomy, be critical and be angry, Jim Cramer told "Mad Money" viewers Wednesday -- just realize the stock market is "giving it all she's got," as Star Trek's Scotty would say.
It's easy to be negative on the markets, especially with our warring parties in Washington continuing the worst standoff since 1860 before the Civil War. Our politicians won't even agree to fix the problem before taking their winter vacations, said Cramer, let alone agree on any portion of a solution.
But while the markets have their eyes trained on Washington, Cramer said individual companies such as Starbucks (SBUX) are telling a different story one of growth and prosperity. He said Starbucks' analyst day had only positive things to say, including no deceleration in China.
Then there's Apple (AAPL) , a stock Cramer owns for his charitable trust, Action Alerts PLUS. Cramer said while the market pundits cited dozens of reasons for this stock's decline, there is indeed only one: capital gains taxes.
Cramer said it's reasonable to think capital gains taxes are headed higher on Jan. 1, so wouldn't it be reasonable for investors to take profits in one of the biggest gainers of all time? He said if you divide Apple's stock price by 10, you have a $57 stock falling to $53 today, and that's not all that scary when you put it into perspective.
Cramer also commented on Citigroup (C) announcing 11,000 layoffs Wednesday. He said this company's new management team is taking some tough medicine but it's needed for Citigroup to prosper, which it is starting to once again. Even Bank of America (BAC) is trading over $10 a share, Cramer added, so all can't be lost.
In the "Executive Decision" segment, Cramer spoke with Drew Alexander, president and CEO of Weingarten Realty Investors (WRI) , a real estate investment trust with 301 properties in 12 states and a 4.28% dividend yield.