Jim Cramer Blog

The show started with Erin Burnett discussing the call for a global recession with Julian Robertson of Tiger Management. Volatile markets worry investors. Steve Romick gives advice such as investing with trust, and to not just play the market. Rio Tinto (RTP) CEO was next, discussing the global economy. Rio Tinto is in the process of largest mining acquisition, of Alcan. Believes they should invest in technology to help mining industry. He does not believe there will be an upcoming recession. Oil prices are down today, but still worrying investors. John Kilduff was next, and discussed the effects of inflation on commodities such as crude oil. Dow down for fifth straight season, worst since week ending July 28^th. Julian Robertson was back on discussing international internet plays. Recommends NHN holdings and Yahoo Japan. Discussed corn ethanol, and the related costs, shouldn't be considered as an investment. Bob Pisani of CNBC News discussed global bulls vs. U.S bears.
Bond Report: Rick Santelli of CNBC News and Robert Sinche of Bank of America discuss the pros and cons of the dollar getting "trashed" in comparison to other currencies. Import prices are up, but export prices are down. Brief discussion of the end of the Joe Torre era was next. The looney, autos and the global economy was the next topic with Don Walker of Magna Vehicle Supply Production. Many of their locations are in Canada, highest revenues are from Europe. Almost 25% of revenues are from Canada. Expansion into Russia is up next for Magna. Advice from Todd Leone from Cowen and company, and Jeffery Saut from Raymond James indicates a nerve racking weekend for the market. They recommend staying away from Caterpillar. (CAT)

Labels: Bank of America, CAT, CNBC, Erin Burnett, NHN, RTP, Street Signs