08-04-2016, 10:41 PM
Market strength surprising you as it is surprising us? It's all about Japan..
TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, posed an interesting question on CNBC's "Mad Dash" segment: "Why is the market so strong? What is the bid underneath?" That bid, he said, is Japan. "It's just crazy," Cramer said, citing a Real Money research report by James Gentile. The Government Investment Pension Fund of Japan has taken in some cases enormous stakes in individual U.S. companies. The list includes $2 billion worth of General Electric (GE) stock, $1.5 billion in Alphabet (GOOGL) , $100 million in Whirlpool (WHR) , $180 million in Eaton (ETN) and $150 million in Roper Technologies (ROP) .
Jim Cramer -- Current Market Strength Reportedly Made in Japan - TheStreet