tv Mad Money CNBC January 6, 2014 11:00pm-12:01am EST
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spiriva helps me breathe better. does breathing with copd weigh you down? don't wait to ask your doctor about spiriva. my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere, and i promise to help you find it. "mad money" starts now. >> hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. my job is to teach you. call me at 1-800-743-cnbc. when you know what you want ahead of time, when you figured out what you will do if we get a correction in days like today
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where at one point the dow was down, the s&p off, nasdaq declining, these days are made for you. first let's discuss the money saving tactics before we address profit making strategies. for as long as i've been doing this show, i've been astounded by how bullish people get at the opening bell on mondays. it's like they can't contain themselves. when we have what we call an up opening where the s&p futures are going higher, moving all stocks, reflecting the collective wisdom of a bunch of hotspurs, people can't resist paying up above what they need to do. do you know how many people decide after repeatedly buying high on a daily basis that the whole exercise isn't worth it? we call this the pickoff. you've been picked off by paying up on a day like today, or
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because spring training hasn't started yet and we're in the heart of the nfl playoffs, let's say you've been pick sixed. my describe is get rich carefully, my new book. i can tell you that the vast majority of times, a real preponderance, not some plurality, there has always been a better time to buy later in the morning. why does this elude people? there is a natural belief that the train is pulling out of the station when they see the futures up. you can't miss it because another doesn't come around for ages. not only is there another train coming, but it comes with regularity around 10:30, so the panic to jump onboard is misplaced. people realize they just got the top tick for the day and that's a sickening experience, one we've all had.
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i'm trying hard to excise it from your stock diet. one of those diet no fat resolutions. consider making this one of your 2014 resolutions. you will not pay up for securities, especially on monday mornings. that's a tactic that should be easily embraced. let's talk strategies. there are two ideas. longer term themes that can be bought when there are dislocations in the market, and bankable ceos a salute to 21 of the best only those who have come on the show and made you money time and time again. i am a huge believer in the power of biotech to destroy the current paradigm, hence my title for my four favorites, i call them the four horsemen of the big pharma apocalypse. long term viewers of this show
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know that one of my absolute favorites is celgene. we have some ceos in this country who are pro-shareholder and have been delivering time and time again for their investors. who is one of the best in the 21 bankable ceos? how about the ceo of celgene? if you watch this show you know bob has been a frequent guest, not just when the company reports, but when there are important successes or when the stock has been unfairly maligned at a time when businesses quite good at getting better. perhaps there are concerns that another drug is about to run out of gas. i have come to trust him like few others, typically as i've
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watched this stock soar from $50 a share to $162.62, where it finished today which is why i thought today was so poignant. today goldman sachs downgraded the biotech group in general, and specifically took celgene from a hold to a sell. the report gashed celgene, which fell $7.19 in one brutal, punishing session. now let me say up front that you know i have become more cautious of the biotech industry because many of the smaller companies have gotten too hot, especially the players with just one product. i favor companies like celgene with multiple shots on goal. i'm not against tempering your enthusiasm for the group as a whole. i recognize that celgene moved up a great deal.
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it has other drugs for pancreatic cancer, psoriasis and rheumatoid arthritis. has earning streams as much $17 in earnings power in a few year's time. that would mean a stock in the 160s sells for lower multiple than traditional companies like lily or pfizer. goldman takes aim at several aspects. it has moved up further than every other biotech and it's done so without goldman being on board. i also think it's worthy of the big multiple expansion and the big estimate increases. second, the analysts question the possible success of the anti-psoriasis drug. i'm a huge believer in the potential of this drug and i think it will have a much longer reach than just psoriasis. goldman questions my analyses and suggests there could be competitive threats for this
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drug. i'll admit that if goldman is right, then celgene could pull back more. one of my tenets is that when you have a theme like biotech and a company like celgene, you use the weakness to buy, not sell. second, you need to have conviction in the ceo. he thinks he has some real winners in the pipe. so far he's been right. why do we cut and run? i don't. he's bankable. that's why this decline is a terrific place to start a position. you want to buy 100 shares, buy 50. this is a $160 stock. i just want you to recognize that the combination of a long term theme and a bankable ceo means opportunity, not disaster. that's the best way to use my advice. when you have a powerful long term theme and a bankable ceo then you get to take advantage of a sale that was thrown by the department store that is goldman
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sachs to begin doing some buying, not selling, of a great american stock. annette in california. >> caller: hi jim. happy new year. my question is on twitter. i know when it first came out you probably thought it was going to go lower than 40 and then run up to 77, and it was downgraded. my question to you is, do you think it's going to go lower or do you prefer that over facebook? >> i think facebook is demonstrably cheaper on every metric. facebook has got a lot more going for it. fabulous article this morning in the "wall street journal" about zuckerberg. i think selling twitter still makes sense. may i go to ty in minnesota.
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>> caller: booyah, jim. it's freezing in minnesota but will boston scientific be a hot stock this year? it just got upgraded today. >> remember, last year it was one of the top ten. it is still cheap. it had gotten knocked back and a lot of people had given it up for dead. it clearly wasn't dead. i would buy it up to 15. the combo of a bankable ceo like bob eugin and the long term theme of biotech say celgene, get your engines started, people. "mad money" will be right back. >> announcer: coming up, time to tune in. a bid for satellite radio broadcaster sirius sent shares surging. is the offer enough to keep it in orbit or will it soon come back to earth. later, the markets soared
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last year but tonight cramer is looking at the worst names of 2013. plus, higher calling? america's economic crises caused a generational collapse in the u.s. job market, but the country's comeback is spurring an equally rare opportunity for the players putting us in uniform. find out which companies are suiting up, all coming up on "mad money." don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer #madtweets. send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. [ male announcer ] this is the story
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about this deal all day including the fabulous interview with liberty's ceo. tonight i want to give you my own spin on how you can profit from liberty gobbling up the rest of sirius. i think there is a tremendous opportunity for you in this one. before i can tell you how to play it, you need to understand how this deal is going to work. first of all, liberty is a mass media company controlled by the great john malone, who is also the company's chairman. they own the atlanta braves and have positions in a variety of companies, and they own a chunk of live nation, barnes and noble and liberty associated. most recently they bought a 27% stake in charter communications, the country's number four cable operator. also, and this is really important, liberty currently owns 52% of sirius xm. they bailed out sirius and might have gone bankrupt with a $530 million investment during the great recession of february of 2009.
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here's liberty's new plan, and you need to stick with me to know how this deal works before you know how to profit from it. candidly, it's not easy. liberty media is creating a new class of stock called liberty c which will trade under the symbol lmcc. the company's current shareholders will get 230 million lmcc shares at a two for one stock dividend. more important they will exchange 460 million of these new c shares for the rest of sirius xm with one share of sirius being worth .076 shares of liberty c. what is that in english? for every 131 shares of sirius you own, you'll get one share in the new class of liberty media stock. citigroup downgraded liberty media off this news but i couldn't disagree with them more completely on this downgrade.
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the essence of the downgrade is that liberty media is a big conglomerate and trades off of its net asset value. that's true. sirius is a gigantic part of liberty's assets. because liberty media is buying sirius xm on the cheap, citi cut the price target and downgraded the stock from buy to neutral. i find this absurd. i say hallelujah, terrific for them. i think it's a brilliant deal. in get rich carefully i write about how companies that take their fate into their own hands and get busy living, a la "shawshank," specifically on making acquisitions send to do very well in this environment.
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this liberty sirius deal is exactly the kind of thing i talk about in the new book. plus, it's hard not to mention that i believe strongly in liberty media's john malone. they have a terrific track record of extracting value from their holdings. they make acquisitions, hire the right people and put up phenomenal long-term results. they aggressively consolidated the cable industry, thanks to the virgin acquisition, done at the low of europe last year. the sirius fully under liberty media's control the company will be able to extract as much as $5 million from sirius' balance sheet and they can use the money to make purchases. liberty media's purchase of 27% of charter communications in march. they're in talks to buy time warner cable. if charter does end up buying
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time warner cable then liberty's stake will be diluted. according to this investment act of 1940, the company needs to maintain a 20% stake in charter. liberty can easily do that. liberty having control of the balance sheet will make this consolidation easier. liberty could buy spotify or pandora. this deal could be still one more reason pandora flew up $3.90, besides the excellent subscriber growth. i believe liberty media is a great stock. i believe john malone is a genius. this is the guy who al gore once referred to as the darth vader of cable. i can't think of a better compliment. right now the best way to play what is happening is actually to buy sirius. i know i always tell you that we never buy stocks after they've
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caught a takeover bid and sirius already rocketed 7.2% higher today. this is an odd situation. i think you buy sirius as a way to get in on the ground floor of this liberty class c shares i've been talking about. why not just buy liberty's regular class a shares? they will get you a ton of c shares once they're created. the stock is now 15 cents higher. any other situation i would tell that you paying up like this for a takeover target, height of stupidity. like i said before, this deal is unique because liberty already owns a majority interest in sirius. the next step is for sirius' management to form a committee to review the terms of the deal and vote on them. david faber says it is indeed independent. i think they could force liberty to pay more for sirius than what they're offering them.
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some analysts have been saying it's worth as much as five bucks. i wouldn't be surprised if liberty is forced to pay close to recent highs. it could be a way to play liberty with a bit more upside. after the deal closes, all of your sirius will become liberty media class c shares and will represent 70% of liberty's operational value. i think they'll do a better job of running a satellite business and generating massive amounts of cash. i think this sirius xm deal is a fabulous idea and the best way to get in on the ground floor is to go out tomorrow and buy sirius. don't pay too much, please. i bet liberty ends up paying more for sirius thank their original offer, thanks to the independent committee, which could mean getting the new liberty c shares with added performance. what's not to like? after the break i'll try to make you more money. >> announcer: coming up, higher
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calling? america's economic crisis caused a generational collapse in the u.s. job market, but the country's comeback is spurring an equally rare opportunity for the players putting us in uniform. find out which companies are suiting up. there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order.
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>> as 2014 begins to unfold, i believe this will be the year when unemployment starts to come back with a vengeance here in the united states. we've had a series of strong numbers. we know that our country's gdp was smoking last quarter. you have to remember that companies don't like to hire new workers. labor is a major cost and you only pay to bring in new people if you have no other choice, meaning businesses don't really get hiring until the economy is growing fast enough that they desperately need new employees. i think we finally reached that stage of the cycle. how dod you profit? don't overthink it. i think this is a terrific time to be in the uniform rental business. the companies that rent all sorts of uniforms to other
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firms, everything from construction and manufacturing uniforms to health care and hospitality, to special flame retardant clothing for firefighters. the math here is so simple it's almost blindingly obvious but we live in a moment where the truly obvious is obfuscated by talking heads who want to convince you that nothing is more important than the federal reserve. more business for companies that rent uniforms. i need a little bit more room there. you've got four main operators but only three of them are pure plays. the largest is cintas. i like cintas. i recommended them for a 55% return. but i don't think they're the best way to play the pick-up right now. it doesn't really fit with the rest of the company. cintas is the 800 pound gorilla
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in the room, and we don't want that. it's a well known story, and that means it has less upside than something not as well known, something relatively undiscovered. who else operates in this uniform rental space? aramark, big player, new ipo, but uniforms are only a small part of their business. they're a food service company. then there is unf, the third largest uniform company. i like that they focus more on higher value uniforms like flame resistant garments and industry specific outfits but the company had execution issues that make me wary of recommending the stock. which brings me to gk services, the number four rental uniform service in the u.s. and canada. with g and k we're venturing
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into nearly undiscovered territory. that is a small, relatively small company, gets a lot less attention than the big dogs like cintas. it's got a lot more upside. this morning g and k announced that it sold its noncore uniform direct sale business as well as its business in ireland. i like it because the company has done a terrific job of growing its business in a very difficult environment. even when employment growth was not so high, they were out there cutting costs aggressively, expanding the gross margins and boosting its profits. we've been seeing a lot of stories lately of companies that took out a ton of cost during the downturn and then we got an earnings explosion. back in 2010 they said they would get their operating margin up ten percent long term.
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now they think they can get 12% to 13% over the next several years. let me be clear here. the other uniform players already have higher margins than g and k. you have to remember the stock market will always react better to a b minus student who starts getting as than a straight a student who keeps getting as. for a stock to go higher, the fundamentals have to improve and that's what g and k are giving you. that's why i think they're the best uniform rental player to own here. this company is going to have great earnings revenue. think about this. g and k is already running trucks full of uniforms out to the customers. when the customers expand the work force, they spend the same amount of money but they rent out more uniforms, which means whenever they rent out an
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additional uniform it goes right to the bottom. when g and k last reported at the end of october, the company forecast 2 to 5 percent growth which translated to 6 to 13 percent earnings growth. i think the earnings could be on the higher end of the spectrum. the company is also doing a good job of retaining old customers and adding new ones. what else? how about a strong balance sheet? more important, there has been speculation that they may pay out a big special dividend like it did in april of 2012. back then the stock was trading around 30 bucks and you got an instant 20% gate. if they manage to give you a decent fraction, i think you'll be very happy. not only do i think they have the most upside but they're cheaper than the big dogs, cintas. they sell for slightly less than
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19 times earnings, 12 percent long term growth rate. cintas only has 10.6% growth so that makes g and k the one to buy. remember, if you are lost on how i do this comparative analyses i explain it all in the homework section of "get rich carefully." with employment finally making a major resurgence in this country, something that will be confirmed by this friday's labor department numbers, don't outsmart yourself. more jobs equals more needs for uniforms and my favorite uniform rental play is g and k. stick with cramer. [ male announcer ] alka-seltzer plus presents the cold truth. i have the flu, i took medicine but i still have symptoms. [ sneeze ] [ male announcer ] truth is not all flu products treat all your symptoms. what? [ male announcer ] nope, they don't have an antihistamine. really? [ male announcer ] really. [ dog whine ] but alka-seltzer plus severe cold and flu
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>> before i get started i want to thank the great people at the view. what a commonsense show where you can speak your mind and reach regular people. you guys are terrific. it's time for the lightning round. are you ready skee-daddy? it's time for the lightning round. i want to start with denny in pennsylvania. denny.
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>> caller: boo ya. short and long term, what's your take on linkedin? >> i wrote a piece for the street where i said that the yelp run signals to me that maybe linkedin is next. i want to be a buyer. june in new jersey. >> caller: i have an easy question to ask you. with the drop in carbonated beverages is dr. pepper still a good investment? >> i would prefer pepsico. if you like the beverage business, throw in a growing snack business, buy pep. willie in louisiana. >> caller: hey, boo ya, cramer. >> hey man, what's up? >> caller: bw. >> refining? valero would be my second favorite.
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jerry in new york. >> caller: halkin resources. >> we talked away from halkin. if you want the spec we've gone back to magnum hunter. let's go to chris in south carolina. >> caller: yes, yes, thank you very much for having me on. i love the show. the question i got for you, where do you see usg going in this upcoming year? >> i think it goes higher because i'm a big believer in housing part two. my charitable trust played it with masco. it's cheaper. let's go to pat in virginia. >> caller: hey, jim. i was just wondering what your thoughts were on a stock like nly. >> i walked away from annaly. i think that business model is no longer a great place to be
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and i don't know what they really have or are going to do as we get through the taper, so it's too hard for me. let's go to cole in iowa. >> caller: booyah, cramer. i bought your book "get rich carefully" and i absolutely love it. >> thank you. i know it just came out and a lot of people are tweeting me pictures of it. please do that. tweet me with pictures of get rich. >> caller: i was wondering what you think about starbucks. >> starbucks has come down. in the book i recommend it. howard schultz is one of my bankable ceos. he used the weaknesses of starbucks to buy. let's go to pearson in new york. >> caller: booyah, professor cramer. thank you for what you do for the little investors. do i buy bank of america? >> it's one of the largest positions in my trust. you can follow along. both stephanie and i think this is the one, the bank for 2014. armand in california.
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>> caller: hello, mr. cramer. thank you for taking my call. a few weeks ago you mentioned waiting for go go to go down to the mid 20s. now it's around 24. is it gogo a good investment for the long term? >> a lot of people are telling me i'm on the wrong side of go go, it's an extreme short. it did spike up eight points after we recommended it. it's come back down to a level where i feel comfortable to say, yes, this is where i wanted go go. that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: lightning round is sponsored by td ameritrade. ♪ ♪ ♪ [ tires screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. get the most extensive charting wherever you are with the mobile trader app from td ameritrade.
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i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. over the pizza place on chestnut street the modest first floor bedroom in tallinn, estonia and the southbound bus barreling down i-95. ♪ this magic moment it is the story of where every great idea begins. and of those who believed they had the power to do more.
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>> last week i told you about last year's five biggest winners in the s&p 500. tonight we're looking at the losers. i was thinking about spelunking through the slag pile of the s&p, the worst performing stocks in the index for 2013, the difference is that with these dogs the only goodness is relative. some stocks are simply worse than others. with that negative preamble out
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of the way let's explore the merits of last year's worst performers. new mining down an astounding 50%. cliff's natural resources down. edward's life sciences, peabody energy and tera data both down 26%. newmont mining got religion in 2013. the hope of a new mine. why was the stock cut in half? newmont has three big strikes against it. first, if you want a miner you want one with growth and newmont's is paltry particularly versus rand gold, the most successful player left. owning an individual gold stock has been a nightmare because you don't know if it's going to go up or blow up. if the price of gold rises maybe your stock doesn't go up with it.
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that happened a lot. gold itself, after a decade of going higher it got hammered last year. long term investors need to have some gold exposure as an alternative currency. truly newmont is not the way to play it. second loser, cliff's natural is very close to home situation for me and my charitable trust. as one of north america's leading iron ore producers, it seems to be an excellent ship in the global recovery. that's the rationale behind vale, the brazil based mineral giant, even though iron ore hasn't plummeted as much as the bears thought it would, they have the highest short interest of any stock in the s&p 500, meaning that people are betting against it, and maybe it could backfire and the street is riddled with sell and hold recommendations.
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i noticed that won't matter if iron doesn't increase in value. another recommendation says the balance sheet isn't as bad as it used to be. talk about relative techniques. there is more downside ahead and unless you want to go extremely long term and recognize that one day like aluminum the surplus of iron ore will tick toward equilibrium, you can skip it entirely. i can make a case for edward's life sciences, the stock. the company is challenged. the stock was crushed when edwards lowered the boom on earnings. awful guidance, scorched earth earnings cuts, unless you're into bottom fishing you might not know that this is a potential buying opportunity. nothing beats a total reset of the earnings calculations.
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when you get a slash and burn that drastically drops the earnings estimates from a quality company, it is with numbers going from 350 down to 3 bucks you might finally have a beatable forecast and that's what we're looking for, a forecast that can be beaten. that can make the stock rocket higher on any good news. why don't you go out and buy it? edwards life sciences is a medical device company and the medical device business, someone is always out there with potentially better mouse trap. in this case that someone is med tronics with it's core valve for the aortic valve replacement and that's the heart of these businesses. that was a good pun, heart. edwards has a potential approval of another device that might prove more successful. if it doesn't then you got $3
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estimate on a $66 stock. that's a prescription for another leg down if only because medtronics sells at 15 times earnings and saint jude clocks in at 16 times earnings. why gamble that edwards can leapfrog medtronics when it's more expensive than medtronics? this might be a case where edwards must fall further just to get in line with the group. i will give it this though. it's worth doing more homework on this one before a totally negative judgment can be reached. the fourth biggest loser i've reached a totally negative judgment is peabody energy, symbol btu. this is tempting because after all half of its revenues come from overseas, in china. talk about oversupply. coal is in abundance everywhere. btu was able to raise its heavily reduced guidance the last time around but the obama administration has declared an
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aggressive war against coal. that's a nightmare for a company like peabody particularly because it has so much debt. i don't think you know the depths of the coal industry unless you've been on some of these conference calls. if i didn't know better, i would say that president obama is determined to wipe out the coal business within the time he has left in office. it's part of an overall love for fixing the environment, something i think we are all in favor of. it's not just that no new coal power plants will be built in this country because of obama. this is the neighborhood from hell, so i wouldn't want to move into the sector's penthouse. half of peabody's business is here, and that half is going away more quickly than we thought as climate change seems to be the most important issue
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the president is embracing in his second term. finally there is tera data. 13 percent growth rate in europe. they're a company that is challenged cyclicly and secularly and it's under fire from better competitors that offer lower cost products, which might be doing a better job. they offer no guidance for 2014. people in tech want growth and margin expansion. it's entirely possible that one of these stocks could have a major run on any bit of good news, because they're down so much and my relative judgments will turn into positive performance. in other words, i'm not giving you a chance to make money in these. if any of these rallies happen there will be so many other stocks that do far better than these, and in the end isn't that what really matters? can we go to paul in texas, please. >> caller: booyah, cramer. >> yo-yo. >> caller: my question is around hilton.
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when i look at hilton trading at $22 a share compared to starwood trading higher, my first reaction is to buy hilton at this level but the debt to equity is five times its peers. i wanted to know if you would be a buyer at its current price, even with the high debt load? >> yes, we felt you could buy in the mid 20s because we think it's a delevering situation, a unique opportunity of something going from a bad balance sheet to a good balance sheet which will send the stock higher. if you do an valuation of the enterprise you will see that hilton comes out cheaper than you think. i would be a buyer of hilton. can i go to hugh in california? >> caller: hello? >> you're up, chief. >> caller: hello. jim cramer, booyah. god bless you for taking my call. i had two calls last year.
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one was best buy at around 12. it went to 40 and then i had goodyear tire and rubber at 12 and change and it went to 22. i've got one call this year so far called barrick gold, symbol abx. i've read two articles in barron's on it. they say the values was initial 44. they think it's 35. it's trading around 18 and change, eight times earnings. it's just above book value. they're trying to clean up their act. i'm wondering if you think barrick gold could have a comeback this year. >> i like the gdx if you are going to buy gold miners and that will get taken up, too. i'm not a big fan of this company, but i do like your track record. i would go by your instincts. it's just not a favorite of mine. sometimes you can find these fabulous little gems, these diamonds in the rough. look at these s&p dogs. can i ask you to look elsewhere? >> announcer: tomorrow, kick off
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skilled workers into our economy, if we were to launch a major effort to create jobs and modernize infrastructure, of course that would increase the attractiveness of job location in our country. >> i've always wanted to know why the democrats didn't say we need a defense against the countries that take our jobs and pollute all over. we don't care about that. what we care about is when workers come to this country from other countries, they get jobs. why don't we care more about our people? >> what happens if you defy orthodoxy, if you question our country's love affair with free trade or if you wonder whether we should temper immigration until we get our own unemployment rate down to reasonable levels? what happens if you suggest that we're supporting the exporting of jobs to polluted areas like china while we stifle industry with climate controls? it's a recipe for being laughed
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at by the establishment. what happens if you say that even though you support a boost in the minimum wage, you question what it does to create a highly trained work force for skilled jobs? you're viewed as a lunatic. that's how i felt when i met the obama spokesperson on "meet the press" on sunday. i'm not saying there was a feeling of contempt from gene who i've known for a long time. but trying to question free trade, not to mention trying to be pragmatic about global warming and immigration seems to be viewed as totally wrongheaded by this administration. i don't want to be viewed as a kook for wondering if we can protect our workers.
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i don't want to crack down on our employers over global warming here when they can take jobs to mexico or china where you can pollute at will. what's the matter withholding off on immigration until our excess of supply gets higher. i don't want to hear that we favor all fuelds but i suggest that natural gas could be an that natural gas could be an aamazing bridge fuel that we create jobs, most certainly and promote domestic security which is a constitutional preamble thinking, right? ideas is an endorsement of the height of evil, fossil fuel, even as it's ridiculous to think we're ever going to power our cars and trucks with solar or wind or water. all these non-ideological, common sense ideas are way too easily dismissed by both parties who prefer to discuss the non job creating minimum wage boost and unemployment benefits extensions. the painful thing for me is that i actually endorse those things,
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too. i just wanted to take the conversation into a deeper, more constructive level. perhaps by putting an import duty on countries that pollute more than we do, take advantage of trade deals that never allow our country to have a surplus balance of trade, they don't even listen when someone is agreeing with them. and then goes off the reservation with outlandish ideas to hire more americans, shocker. many of these ideas come from matt horn who is provocative because of his commonsense, nonideological thinking. the fact that he's considered provocative at all for caring about cleaner skies and jobs is just downright sad. we can't leave these ideas still born. they're the hope for a stronger growing economy which would lead to greater profits, more jobs, and higher stock prices, all of which last i looked seemed downright positive to me. stick with cramer.
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you do buy the acquirer. i reiterate my buy of palo alto networks. sirius satellite, i typically do not recommend stocks after they get bids. this one is different. i want you to buy. always a bull market somewhere. i'm jim cramer and i'll see you tomorrow. perry griggs shouldn't be a threat anymore. >> eight years in prison is a long time. i didn't think that we'd hear from him again. >> narrator: but this is no ordinary con man. this prisoner is prospering with a new scheme. >> from inside the prison walls, he was able to convince people he was a millionaire commodities trader and have them invest their money with a man in jail. >> narrator: and before anyone is onto his scam, griggs gets released... >> perry had left in a hurry. so this became an active fugitive investigation. >> narrator: ...leaving his victims with nothing. >> our property is taken illegally.
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