We recently published a list of Jim Cramer Discusses These 10 Stocks & Says “Traders Are Dumb As Wood.” In this article, we are going to take a look at where Blackstone Inc. (NYSE:BX) stands against other stocks that Jim Cramer discussed.
In his latest appearance on CNBC’s Squawk on the Street, Jim Cramer commented on the response by markets to Fed Chairman Jerome Powell’s comments that the inflationary effects of tariffs could be transitory. Higher inflation from tariffs had led investors to worry that the Fed might raise interest rates. However, Powell’s language assuaged these customers. Commenting on Powell and the markets, Cramer commented:
“People at home have to recognize David that there are two markets. There’s the very considered market, that was in keeping with the considered Fed reserve chief, and that’s what we have after two o’ clock. And then there’s the wild night time market where you come in and everything has just been divorced from what you heard the day before. It must be very confusing for people to say, oh my, what happened, seems like there’s a wholesale reconfiguration, a reset so to speak. But it’s all nonsense. What you see on the screen is worthless. No longer do these futures have any sort of correlation with what happened even last night. Now some of that could be because we have a new President. Some of it could just be that there’s lunacy and people who are not manipulating but making ill-advised trades long before the market opens. You’re seeing the 24 hour market, David. The problem is, in keeping with the fact that I’m at [a home improvement retailer], the traders are dumb as wood.”
Another investor concern and one that’s gone unnoticed amidst the debate surrounding tariffs and last week’s massive selloff is weakening customer sentiment. Cramer also commented on these worries and bank CEO Jamie Dimon’s thoughts on the matter:
“I think March is weak, I think the consumer is spending less. I agree with Jamie Dimon. . .Look I think that there’s genuine weakness in the endless talk about tariffs is soon going to make it so that it’s too boring to listen to us. Everyone is concerned about tariffs. People are asking about whether it’s reciprocal or protective. I mean, once again I hear, is it Hamilton or McKinley? I mean let’s stop it. No one even knows those guys anymore. What bill is McKinley on? But I will say that it is worrisome to people, so therefore they sell, soon as they hear tariffs, they get nervous.”
Our Methodology
To make our list of the stocks that Jim Cramer talked about, we listed down the stocks he mentioned during CNBC’s Squawk on the Street aired on March 20th.
For these stocks, we also mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Blackstone Inc. (NYSE:BX)
Number of Hedge Fund Holders In Q4 2024: 67
Blackstone Inc. (NYSE:BX) is one of the biggest asset management companies in the world. The firm’s shares are down by 14% year-to-date but have gained 16% over the past year. Blackstone Inc. (NYSE:BX) has benefited from lower rates and growing enthusiasm about deal-making and acquisitions which had tapered off in a high interest rate environment. The firm is a key player in the upcoming IPO of CoreWeave. Cramer commented on the deal and Blackstone Inc. (NYSE:BX)’s role in it:
“But I came back bullish, more on Dell. But Michael Dell is, I’m looking at the CoreWeave deal and people are saying it’s going to be a dud. I think that’s wrong. I think they, as they circle people will realize you’ve got the backing of a Will Danoff at Fidelity, you have the backing of Jensen Huang, and you have the backing of Vertiv. People who think they know, they know how to run a data center. And most people do not know how to run a data center. Including your friends at private equity.”
“[On Blackstone and the CoreWeave deal] They are great partners with CoreWeave. But, CoreWeave’s gotta tell the story. They gotta get out there and tell the story in a very measured way. I’ll tell it for them.”
“I told the CoreWeave people, I don’t envy them. Their deal is so important for the market.”
Overall, BX ranks 6th on our list of stocks that Jim Cramer discussed. While we acknowledge the potential of BX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
