Jim Cramer's Best Blogs

NEW YORK (TheStreet) -- Jim Cramer fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:

• the tricky investment question that Greece creates;


• the complicated effect of nice weather on the market; and


• why people shouldn't worry about Disney's revenue miss.

Click here for information on RealMoney, where you can see all the blogs, including Jim Cramer's -- and reader comments -- in real time.

A Dangerous Greek Waiting Game

Posted at 10:43 a.m. EST on Friday, Feb. 10.

Today is one of the toughest ones. It's a reminder that they go down faster than they go up, a reminder that there's still volatility, a reminder that there is still fragility.

The Europeans have the ability to cause people to take profits. The Germans have decided that enough is enough and it would seem as if they are going to start kicking people out of the eurozone if only because you need to have discipline, so you kick out the unruly kid and you let people take the hit who own the bonds.

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What's so discouraging is that the EU is uniquely set up not to take hard action. They aren't coordinated. And they are dealing with a totally rogue state in Greece that doesn't fit into the pattern of disciplined finances that on which the Germans pride themselves.

So, now it plays out.

Here's an odd way to look at it. If you are out of this market, and many are, can you afford to wait until we have more clarity -- up or down -- for Greece? Do you have to come in now and start buying high growth? Do you have to say, look, I am not going to get a chance like this unless Iran is attacked by Israel? I am not going to get a chance to buy Disney(DIS) or Wells Fargo(WFC) or Honeywell(HON) unless I start buying today and then buy lower next week because Greece is going to be dealt with one way or another and we are stronger now as a country then we were six months ago, when it looked pretty darned grim (around the time of the downgrade by the S&P of the U.S. debt).

We are feeling our way in, in Action Alerts PLUS. We have accumulated a large cash position after peeling off into strength. But when we look at the prices we are getting, they are still up substantially for 2012. Will you ever get a chance to buy stocks at substantially reduced prices?

Somehow, without Iran-Israel, I don't think so.

Action Alerts PLUS, which Cramer co-manages as a charitable trust, has no positions in the stocks mentioned.

Let's Talk About the Weather

Posted at 1:42 p.m. EST on Wednesday, Feb. 8.

What a tough call on these restaurants and retailers. The crosscurrents are so difficult here. Were the sales numbers of restaurants like those of Buffalo Wild Wings(BWW) and Panera Bread(PNRA) pumped up by the warm weather? Are stocks like CVS Caremark(CVS) and Perrigo(PRGO) (cold and flu medicines very important) being kept down by nice weather?

Did nice weather bring out buyers of Ralph Lauren(RL) ? Do we even need to consider it? How about V.F. Corp.(VFC) ? That's The North Face. Should that be rallying with Ralph Lauren or should it be selling off because of the weather?

These are difficult-to-fathom issues because, in the end, "it happened," meaning that we shouldn't look through them. Perrigo didn't benefit from the weather. Buffalo Wild Wings did.

But if you are trying to figure out this stuff, you have to recognize that weather may have obscured gasoline. Weather may have given a false sense of good things are.

Just keep it in mind. It played havoc with everything and to not factor it in is to not know the real story.

At the time of publication, Cramer had no positions in stocks mentioned.

Disney Is Rationalizing Entertainment

Posted at 6:10 a.m. EST on Wednesday, Feb. 8.

Disney's(DIS) made a decision, a decision that is so wise that it's a real show stopper. It's not just going to waste a lot of money pumping out movies that generate a lot of sales but no profits.

Today there's a ton of hand-wringing about how Disney beat the bottom line but missed the top line and therefore should be sold.

You might want to sell Disney because it's had a nice run or because you don't want to pay a premium to the market -- 15x earnings -- for its 13% growth rate.

You might say it has gone up 10% already this year and you want to find something that hasn't moved up that much yet.

Time Warner(TWX) , for instance, with a similar growth rate and a slightly lower P/E is only up 5% this year and has a 2.4% yield, vs. Disney's 1.4% yield.

But I sure as heck wouldn't sell it because of the revenue miss. Disney's made a conscious decision not to chase revenues.

It is making fewer, better films, taking on less risk and making more money per film. They are rationalizing the entertainment business. For a company with such consistent and marvelous growth away from film, notably the theme parks and the incredible ESPN juggernaut, why roll the dice on a whole bunch of films that may or may not make it?

Other film studios may have to take that risk, but Disney, with its bankable movie franchises like "Pirates," "Toy Story" and now Marvel characters, doesn't need to constantly reinvent the wheel. You have to consider these movies as if there are gigantic products, like Tide or Crest, and sometimes it's cheaper and more lucrative to do line extensions than to keep trying to invent new categories or one-off movies that bomb.

I think the strategy makes a ton of sense. It's how you get a true premium multiple. If Disney comes down off of this so-called miss, I would be a buyer, not a seller, as Bob Iger has taken a lot of risk out of the company and given you a ton of reward.

Action Alerts PLUS, which Cramer co-manages as a charitable trust, has no positions in the stocks mentioned.