Cramer: Star CEOs are the difference
Jim Cramer | firstname.lastname@example.org
And then you will get a couple of days when management's great work just shines through. Yesterday was one of those days. Just think about how many terrific CEOs and their amazing deeds we heard from or read about. Just think about how hard these people are working for you and how they are delivering for you.
We know that Ken Powell is delivering an astounding performance at General Mills. Think about all the obstacles that he's overcome: higher commodity prices, a sluggish consumer, endless buy-one-get-one coupons. And what has he done? He's given you nothing less than consistent sleep-at-night earnings reports like the one we got yesterday, endless dividend increases, and tremendous share-take. Powell is everything you can ask of a CEO.
Or how about Stuart Miller at Lennar? It's not easy to follow the towering legacy of Stuart's dad, Leonard. But Stuart's late father has to be smiling somewhere about what this executive has done in the toughest housing market since the Depression. His beautiful quarterly results yesterday showed that he's building more, making more money per home, and accumulating a land bank that will drive earnings for years.
Then there's Laura Alber, the remarkable CEO of Williams-Sonoma, who has steered this high-end housewares company onto perhaps the best growth path of any name in the industry. This multi-cylinder company, which includes Pottery Barn and West Elm, is hitting on every one of them. The expectations were so high here, and she crushed them. I think we are in the early innings of the growth for Williams-Sonoma, as Alber has taken a company with electric merchandise but a stodgy reputation and turned it into a high-performance vehicle.
And don't forget Al Walker, the quiet executive behind Anadarko, who had to follow in the huge footsteps of the towering Jim Hackett and who continues that exploration-and-production company's reputation as being the best wildcatter in the world. This announcement today of a gigantic new find in the Gulf of Mexico is breathtaking and proves that there's still plenty of oil left if you know where to look for it.
Finally there is Greg Wasson, the CEO behind the remarkable renaissance at Walgreen, who is not only reinventing the drugstore format but also just inked a fantastic deal with AmerisourceBergen that raises estimates for the company while cutting prices for generics for the consumers.
That's incredible. No wonder we have had multiple upgrades of the company's stock since the announcement of this breathtaking transaction. It's totally transformational and comes right on the heels of what now looks like a brilliant merger with Alliance Boots--a deal that, candidly, I questioned and now admit I was wrong to doubt.
Sure, you can keep buying ETFs. Yes, you can say that sector is all that matters. But these fabulous executives are delivering amazing performance and should be celebrated every time we think about the so-called "big issues" such as Cyprus, the Fed or the budget deficit. They have their eye on the ball--and don't take your eye off them just because of European woes or Fed worries.
If you do, you're liable to miss a big fat pitch that can be hit right into the upper deck.
Disclosures: Cramer's charitable trust has no positions in the stocks mentioned.