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Too little accountability on Wall Street?
“There is far too little accountability on Wall Street,” Jim Cramer admitted to his Mad Money viewers Thursday, as he sounded on issues that have made him angry in recent weeks, “wrote The streets Scott Rutt in his Crazy money to summarize.
âFirst, Cramer said there is no accountability to the experts and analysts who make instant judgments on earnings reports. Example, Cisco Systems (CSCO) – Get a report, which reported a solid quarter on Wednesday, only to be analyzed by finicky analysts and off-base news reports. After closing lower on Wednesday, stocks rebounded strongly on Thursday, proving that all opponents are dead wrong, “he wrote. There is also no liability when it comes to cryptocurrencies, Cramer told viewers. Bitcoin was once a rare commodity, but now it competes with a host of other so-called âcurrencies,â some of which started out as a joke. Making money in crypto is more about luck than the commodity itself. “
Where’s the blame for supply shortages
“How could everyone, every manufacturer, seemingly every retailer be caught short of everything? Was everyone just stupid? Did they just underestimate the homecoming and what their order books have? shown? ” wrote Cramer in his Real money column.
âAs I go through the quarterly reports as this earnings season draws to a close, surprisingly, I can only come up with one company, Target (TGT), who had the right inventory and, more importantly, the right amount of the RIGHT inventory, to be considered smart and ready. A company. How could they be wrong? “Cramer wrote.” Part of what you need to consider is how Target could have been right. CEO Brian Cornell made sure he was incredibly close to what his store managers needed, even at the lowest level. In addition, he has an innate optimism about the American consumer that could have been disastrous had the pandemic not abated and the death toll had not declined. “
Hear what Jim Cramer only says to members of his Action Alerts PLUS Investor Club in Friday’s Daily Rundown.