Jim's
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na

na

General Question

Q:      Jim,
About time somebody has spoken out about the abuses on the NYMEX. I was in the heating oil business for nearly 40 years. I have been complaining about the legalized price fixing since 1973. Why not pass a law that says if you don’t have an EPA/DEC and every other government regulatory agency approved storage facility, you cannot buy oil futures. That would get rid of the speculators.
Edward

Jim:    Edward, in principle I like this idea… we do need middlemen in order to make it so that some companies that need oil be able to hedge their risk… but you know what, Edward, before we had oil futures this is what we did basically… and I think that you are right… I know that makes me an Adventist… it makes me a throw back… but you know what, I am sick of the speculation… and I am sick of what it did to America with that $147 price… which we know was catastrophic for America.

T

23.77

AT&T (T)

Q:      Dear Mr. Cramer
My mom and dad loved the seven bells and have owned telephone stocks since they were married 63 years ago. Through all the changes, they kept their portfolio. My father recently died and my mom is unsure about her AT&T stocks. It has lost a considerable amount of money. She has a sizable amount of stock in the company. Should she sell some and keep a portion of it for the dividend checks? Your thoughts about this stock would be appreciated.
Ann

Jim:    Okay, Ann, first of all we have to default to usual rules of diversification… it can’t be more than 20% of her portfolio… whatever is more than 20%, we are going to sell regardless of whether we like the stock… second we think the dividend is safe… we think Randall Stevenson will come on our show, and when the dividend is boosted, we will talk about it… I hope that it will be boosted… I have no fears other than diversification fears… please be sure, not more than 20% in one stock.