Filed under: Deals, Market matters, Altria Group (MO), Wells Fargo (WFC), Cramer on BloggingStocks
TheStreet.com’s Jim Cramer says we’re destroying huge amounts of capital, and investors are sick of it.
No big mergers and acquisitions (although my fingers are crossed about Altria (NYSE: MO) (Cramer’s Take), because MO needs growth and UST’s (NYSE: UST) (Cramer’s Take) really good). No initial public offerings of any consequence since Visa (NYSE: V) (Cramer’s Take) despite a huge queue of private-to-go-public deals. No private-equity deals despite incredibly low valuations, valuations so minuscule that deals would have been done at gigantic premiums from here and still be much less expensive than they were. No threatening stakes by swashbuckling hedge funds. No new huge buybacks or dividend boosts, save CenturyTel (NYSE: CTL) (Cramer’s Take), not that anyone cared about that one.
No nothin’.
It is an amazing time. It is the first week of an admittedly almost always bad month, but that’s almost always because we are up going into September and funds want to lock in good gains.
Nothing to lock in now.
Continue reading Cramer on BloggingStocks: What an awful moment
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