Uh, no, that would cause them to flip over.Huh? Almost all boats have cb lower than cg, but that's beside the point.
Not how it works. Cb is always below the waterline. How many boat have the cg well below the waterline?Uh, no, that would cause them to flip over.
[Edited to add: Perhaps more importantly, the C of B also moves upward as the boat heels, going even further above the C of M, and that's actually the condition that most relevant when talking about mass aloft.]