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Yesterday's "Most Bearish (Oil) Report of All Time" Has Transformed the GE/Baker Deal Into a Genius Move

Late last week - with speculation spiraling about an oil-services linkup between General Electric Co. (NYSE: GE) and Baker Hughes Inc. (NYSE: BHI) - market maven Jim Cramer groused that GE might be making a "colossal mistake."

I'm not picking on Cramer, who's not afraid to make gutsy calls and controversial statements. After all, he didn't have any information about the structure of the deal and didn't want to see GE "sell at the bottom."

But this week, after the GE-Baker Hughes deal and its unique partnership structure was unveiled, we looked at the specifics and gave the linkup our Private Briefing "stamp of approval." Indeed, we even described it as the "latest shrewd move" by CEO Jeffrey Immelt, the architect of the ongoing General Electric makeover.

As it turns out, the move was even shrewder than we first told you.

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