On today’s STOP TRADING segment on CNBC, Jim Cramer had a lot to discuss with so many mergers happening.
He is saying trying to find a common theme may be the wrong approach. He said in the case of a Phelps Dodge (PD), there are many other companies out there like this. He thought Freeport (FCX) needed another source of copper and this was a cheap way for them to rapidly get a larger footprint.
Cramer thinks the overall market is undervalued with a 17 P-E and all the cash on the sidelines.
Cramer discussed breast implant approvals. He said Allergan (AGN) is a genius company doing everything right. They are winning from Bausch & Lomb (BOL) woes. Cramer thinks that AGN should have been higher anyway and this is just icing on the case. He thinks it is too cheap and you should hold AGN.
He thinks Research in Motion (RIMM) is the ultimate gift you could get here and investors should buy.
Jon C. Ogg
November 20, 2006
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