Jim Cramer Blog

Eddie Lampert and Sears (SHLD), Citigroup (C): Cramer defended Sears CEO Eddie Lampert, in spite of the retailer's bad quarter. Lampert also has a significant stake in Citigroup, which also performed poorly. "I am not a schadenfreude guy," Cramer said adding that he support Lampert and Sears through this tough patch. Sears' "performance has hit several bumps in the road. ... I'm not abandoning [Sears] , the guy is too darn good," remarked Cramer. He points to Lampert's gigantic gain in K-Mart after having purchased the company for nothing. Sears should be viewed as an 18 month stock, although its performance the last six months has been terrible. Concerning Citigroup, Cramer commented, "I bet Eddie Lampert thought the same way I did.
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Labels: C, Jim Cramer, SHLD, Stop Trading