Jim Cramer knows that when someone is stuck at the bottom of a deep hole, the best thing to do is to stop digging. Yet some companies cannot seem to grasp this idea, and continue to make things worse.
"That is how I feel right now about three giant minerals and mining outfits that happen to be the world's largest suppliers of iron ore," the "Mad Money" host said.
Iron ore is a commodity that has been in free-fall recently and is trading close to its 10-year lows. There are three companies specifically that have proven themselves as total morons to Cramer, to which he has anointed them the three stooges of iron ore: BHP Billiton, Rio Tintoand Vale.
All three stocks have been brutally punished in the past two years, with BHP down 56 percent, Rio Tinto down 29 percent and Vale dropping a stunning 75 percent.
However, Cramer recognizes that a large portion of this isn't their fault. The entire commodity space has collapsed, as demand has reduced from places like Brazil, China and Russia. But they could have done better than they did.
Source: http://www.cnbc.com/