CNBC’s Jim Cramer on Today: Oil Companies Are The Profiteers of Terror
Jim Cramer, the host of CNBC’s "Mad Money," appeared on the August 16th edition of "Today." Guest-host Lester Holt quizzed the always verbose financial adviser on which stocks are best in an age of terror. Holt prefaced the piece, which aired at 7:14AM EDT, by noting that Americans live in a volatile age and that he wasn’t advocating exploiting unrest in the Middle East, but that investors must react to such developments. Cramer agreed, saying that profiting from such pain "sounds ugly." A few minutes later, prompted by a question about buying stock in oil companies, he responded this way:
Cramer: "That's the profit area. You got to where I can talk about making money off of terror."
Holt: "Then we can gripe to ourselves."
Cramer: "Yes, and anywhere you pump. You can go to Exxon, Chevron, Conoco Phillips. These are all good investments off of terror. They are the profit plays. And if you want to be one of these profiteers of what's going on, just own an oil company."
Profiteers off of terror? Cramer may find the term ugly, but when it comes to oil companies, he apparently has no trouble throwing the word around.