저자: JimCramer · 외국인
요약 보기
결론: 지수 투자보다 개별 우량주 선별이 다시 유효하다는 주장. JP모건 실적은 예상치를 밑돌았지만 다이먼 CEO의 코멘트를 들어보면 경영진이 상황을 통제하고 있다고 판단. 존슨앤드존슨(J&J)은 구체적 가이던스를 제시했고, 중간값이 약 9% 하향됐지만 엘ective 수술 감소에 따른 것으로 설명. 두 자릿수 성장 중인 의약품 9종을 보유하며 배당을 6% 인상한 점을 강조. J&J 주가는 V자 반등 차트를 보여주며, AAA 등급 재무구조를 근거로 프리미엄을 줄 만한 종목이라고 평가. 기업 구분: 소비자 의존도가 높은 기업과 자체 개발 신약 등 구조적 성장이 있는 기업을 구분해야 하며, 후자에 프리미엄이 붙을 것이라고 주장. 경기 전망: 사람들이 외출을 꺼려 수요 회복이 관건이며, 백신 개발 또는 치료 개선 전까지 기업을 살려두는 것이 핵심이라고 언급. PPP 자금: JP모건이 93억 달러를 중소기업에 집행했다는 발표를 긍정적으로 평가. 달러제너럴, 월마트, 아마존 주가 상승을 언급. 방역: 애플·구글의 접촉자 추적 협업을 높이 평가하며 앱 설치 의향을 밝힘. 검사 확대와 추적이 되어야 경제 재개가 가능하다고 주장. 전반적으로 사람들이 두려워하고 있다는 진단.
다듬은 글
Jim been watching the earnings this morning and maybe we can start just talking about JPMorgan obviously the numbers came in below expectations but really going through and listening to Jamie Diamonds comments kind of running through the numbers that they lay out it does give you the sense that they have this under control and that they feel pretty okay about where things are headed even though we knew it was going to be bad numbers right I mean the work I've done shows me that they've got this figured out I know the work that will stun and Wilson the calls can be far superior to my winging it but I like everything I hear I think that like many people we really don't know what the future is and it's amazing that anyone kind of gives you a forecast one of the reasons why we love J&J so much is they basically did give you a forecast they lay things out they're spending a quarter billion on this vaccine their midpoint was lowered by about 9% but you know frankly that's exactly what the elective surgery would do they've got so many whether that nine drugs that are growing at a double-digit pace and then I think that people are looking at dividend yields and they gave you a 6% increase in the dividend in a time when I think a lot of people are saying wait a second I don't know if my dividend is safe so J&J apropos of one of your guests early this morning is making a good case that you should own individual stocks again don't own the SP you get too much nonsense with the S P that's kind of I'm looking for the old defenders have just do nothing but index investing because it's not paying off anymore it's just not Joe pointed out to the CFO of Johnson Johnson earlier just that stock chart that you're watching on Johnson and Johnson if you really take a look at that that is the v-shaped recovery that that you're not going to see in a lot of different places but it is amazing how that stock has rebounded pretty actively well I think we got to give it a big premium I think that this is the kind of stock that you can own got a triple a balance sheet there are people who are deciding you know what some companies I can invest in because they're too lever to the consumer other companies are levered to secular growth trends of drugs that they've developed and those are viable and I think that there's going to be a super premium put on certain companies I want to talk about that tonight on may have money I mean J&J is an example of okay come get us come get us with a triple a balance sheet and all these great earnings you know those who think that we can't deliver numbers in this environment well why did we raise our dividend so much and I think the answer is is that there's just two tracks there are companies like what Bobby Kotick was talking about people are staying at home the New York Times fabulous video story this morning morning about how video uses is what they're just two tracks there's the stuff that people use and then there's stuff that there's no demand they can open up all the different states they want people don't want to go out they don't want to go out because there's no vaccine yeah Jim Jamie Dimon also putting out an update on the PPP how much money has gone out from JP Morgan nine point three billion dollars she said has gone out the door to those small businesses to get out there we all had a lot of questions yesterday about the PPP plan how this is working and I have to say there was a point when I yesterday evening when I was thinking are we gonna go back to work before any of this money actually makes its way out the door I guess it's good to see some real numbers quantified numbers yes I suppress with that I'm also pretty impressed with the fact that you're gonna get a check this week and that's why dollar generals up so much Walmart's up so much Amazon's up so much so there are things that are definitely working I think that to create demand is the real hazard and we just don't know but you can keep companies alive until there is demand and bet that someone does come up with a vaccine or that we get people out of the hospital faster REM death severe there's a lot of it there's a lit we're between a rock and a hard place we want to open things up at the same time we know that we're gonna get more people were sick yesterday there was an amazing collaboration announced between Apple and Google that did a contact trace that I think does not have a Civil Liberties impingement that is remarkable and makes me feel like I'm gonna opt in for that I'm gonna download the app it's free so if we'd have more testing we don't have enough testing if we have contact tracing then I think we're we're able to start going out but right now I think most people are scared you
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