Tags: Jim | Cramer | Bullish | Stocks

Jim Cramer Still Bullish on Stocks Despite Dire Predictions

Friday, 05 Mar 2010 08:26 AM

By Dan Weil

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Many stock market experts have turned bearish thanks to Europe’s financial turmoil and concerns about the durability of the U.S. economic recovery.

Jim Cramer, host of CNBC’s "Mad Money," disagrees.

“I want to be bearish on all this news,” he said on the air. “I want to join my friends, Yogi, Boo Boo, Gentle Ben and Smokey. . . . Then all the sudden the facts get in the way of the story.”

For example, retailer Kohl’s announced that its profit soared 28 percent to $431 million in the quarter ended Jan. 30 from a year earlier.

“Then we got Magna and TRW, auto parts makers, saying the auto sales are coming back strong,” Cramer said. He was referring to Magna International and TRW Automotive Holdings.

“Can you imagine how much market share Ford must be taking (from Toyota), as its floor mats seem darn good?” Cramer said. He recommends Ford Motor’s preferred shares.

So Cramer thinks the consumer is in better shape than many economists would have you believe. The recent decline of oil prices also is a bullish sign, Cramer says.

Star money manager Jeremy Grantham doesn’t share Cramer’s optimism for the market as a whole, but he does like blue chip stocks.

“Any advance from here will make it (the market) once again seriously overpriced,” Grantham wrote on his firm GMO’s Web site.

But, “The high quality component is still relatively cheap.” By that he means blue chips.

© 2014 Moneynews. All rights reserved.

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