Monday, January 10, 2011

Jim Cramer: "Big banks are a buy" (C; BAC; JPM: USB; WFC)

Sure, I've been a bit rough on Jim Cramer over the years:
Jim Cramer beats Monkey in Stock Picking Contest!
UPDATE-Jim Cramer Beats Monkey in Stock Picking Contest
What Jim Cramer Does After Beating the Monkey
Should Jim Cramer Be Locked Up?
Jim Cramer Admits: "I Screwed Up" In Recommending Wachovia Stock Two Weeks Ago Because I Liked The CEO
Bear Stearns: Jim Cramer Defends His Position, Is Still Hated (BSC)
July 30, 2008
Jim Cramer: "Yes, the Market Has Bottomed"
I respectfully disagree but at least he's humble and lovable....
For some reason though he seems to have a feel for the banks.
(BSC and Wachovia  notwithstanding)
For the mother of all linkfests go to "Jim Cramer on: When Will Citigroup Bounce Back? and "Three Stocks That Could Double in the Next Year" (C)" in which he was pushing C at $3.91 on Sept. 9, 2010. That's 26% in four months. As the retail guys say: "And Mr. Big, if you annualized that..."

From MSN's MoneyCentral:
Shares of Bank of America, Citigroup and other major financials are too cheap to pass up.
You want to know which banks to buy?

You know what these stocks have in common? Their prices are ridiculously low, kept down by rumor, innuendo, disbelieving analysts and lies.

Take Bank of America. On Monday I was listening to some clown -- and I use that term with great respect -- talking about $150 billion in mortgage liabilities. Hey, why not say they have to make good on every mortgage ever?...MORE, including video. 
Well, maybe more than a bit rough.