He screams: SELL EXXON, BUY GM.... What? Yeah, GM is doing OK. But I dare you to pull up the long term charts (like 20 years) ++ and compare the 2 companies. haha. XOM only goes one way. UP. Cramer just doesn't understand vertically integrated Big Oil, or he got really burned shorting it. But then, he is an idiot.
Cramer says sell, and Buffett accumulates a full 1% of this giant. He knows what is cheap long term. I remember Burlington stock doing terrible while Buffett was accumulating. Boy did I enjoy that ride. In the end, Buffett buys undervalued winners. P/e of Exxon is ridiculous cheap. Easily goes over $100. I mean really, it's like finding money. I bought yesterday on the selloff. In under $94, and will chat again on here at $104. Thanks.
Actually, that is a very good point. I have often wondered why he is not behind bars. But, he has his 'disclaimer' to protect him. And, he trades in his 'charitable trust'. We all know he is a criminal. I remember when he screamed 'BUY ENRON'... and 2 days later I watched the Feds take Andy Fastow and Jeff Skilling out of the Enron building in handcuffs. From my office in the Exxon Building in downtown Houston!! What a guy.