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We're Being Blinded by Rose-Colored Glasses

By Jim Cramer

 About this article:
 Lots of looking the other way in this gun-jumping thesis. We looked the other way in the gigantic drop-off of hardware at IBM and instead focused on the admittedly terrific software and consulting. We looked the other way on the dramatic decline in natural gas drilling for Halliburton . We don't even seem to care that budgets are still going down. We are looking the other way when FedEx says a turn isn't here yet. We are looking the other way with the rails, which are all cost-cutting and better contracts, not because of more business, as the car loads simply aren't that great. We are looking the other way in commercial and residential real estate and also mining and minerals with Caterpillar , where I would be surprised to see anything going up. We looked the other way in PPG Industries , which...

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