Jim Cramer breaks down why he likes how the market is setting up heading into the new year.
Will 2022 be any different? The Fed won't be as easy. The bankers and SPAC kings will keep pumping out junk pricing it low to entice, but the enticement is the real bear trap of this market. Most of the companies that have gone public are conceptual, when I have said perhaps too many times that 2022 will be the year of the tangible, practical and profitable.
There will be an occasional, shockingly good offering — like Endeavor Group Holdings or Dutch Bros. Coffee — but most of the offerings were simply using the stock market as a branding opportunity that many fell for. These are companies that were counting for an opportunity to sell you something that makes them money, not you. They aren't called out more because so many people think it isn't their job to do so.I like the set-up for 2022 because so many don't.
How about tech? Well, there's not so much here because of the garbage the Street sold us. Beware of anything that sells at a"times sales" valuation — except for Snowflake, which has a brilliant model with a great CEO, Frank Slootman. And once again, we will hear about how overvalued FAANG and friends are, with judgments offered by those who don't know what these companies do.We will have to sell some stocks to bring in some bullpen names. We will have to soldier through
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