Try to close your eyes and teleport yourself back to a long-lost time called January. The new President was rolling out his stimulus plan and everyone was telling folks to buy infrastructure companies. Caterpillar (CAT), Emcor (EME), GE (GE), Foster Wheeler (FWLT), Parker Hannafin (PH). These were the companies that would profit from the rebuilding of America. Well they’re all pretty much at all-time lows now.
If you believed that they were going to profit from the stimulus, and thought they were buys then, then they should really be buys now. Maybe what happened is that everyone learned that the stimulus was more of a porkulus that would only make a modest contribution to infrastructure rebuilding.
And though it’s really easy to pick apart Cramer’s stock picks (since he makes so damn many), here’s a clip found by Zero Hedge of Cramer telling everyone to buy Foster Wheeler. Their stock is down to $13.30 from a high of over $80.