Cramer's 'Mad Money' Recap: The Patriot Act's NICE Benefits
By TheStreet.com Staff
3/15/2006 7:38 PM EST
"I have been waiting to go nuts on the Patriot Act for such a long time ... not politically, but I love this legislation," Jim Cramer told viewers of his "Mad Money" TV show Wednesday.
"I love spying. I love surveillance," Cramer said. And that's because he believes there's money to be made now that many provisions of the Patriot Act have been made permanent.
Now that we can record, wiretap and video tape everyone in America, how will we keep track of all that information? NICE Systems (NICE:Nasdaq - commentary - research - Cramer's Take) is how, says Cramer. The company specializes in exactly what we need in these times, he said, because it takes loose, unstructured data and analyzes the information until it turns into something useful.
If the government is tapping your phone to determine if you're planning to blow yourself up in a public place, Cramer said, NICE will pore through your phone calls and pull up the relevant data if there are any.
These are the spy bureaucrats, he said, and they also make state-of-the-art command and control centers.
Plus, the company is the only voice-over-Internet-protocol play Cramer can get behind because it's one of the very rare plays in the VoIP sector that is actually profitable. And since Internet phones are cheaper than land lines, he wouldn't be surprised if companies switched over and NICE profited from the move.
He also said that the company is the leader in recording voice-over-Internet conversations. Every time you hear "This call may be monitored to ensure quality," he said that's NICE at work. http://www.thestreet.com/_yahoo/funds/madmoneywrap/10273834.html?cm_ven=YAHOO&cm_cat=FREE&cm...