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Cramer on BloggingStocks: Buy Procter, General Mills all the way down

 Oct 10, 2008 09:19 AM UTC
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Graphic_arrow1 Via BloggingStocks:  

Filed under: Forecasts, Ford Motor (F), General Motors (GM), Market matters, Citigroup Inc. (C), AFLAC Inc (AFL), Bank of America (BAC), Chesapeake Energy (CHK), Colgate-Palmolive (CL), Comerica Inc (CMA), General Mills (GIS), Morgan Stanley (MS), Procter and Gamble (PG), Wachovia Corp (WB), Freep't McMoRan Copper (FCX), Stocks to Buy, Cramer on BloggingStocks, Financial Crisis, MetLife Inc. (MET)

TheStreet.com's Jim Cramer says the safety theme will come back if only because these companies' earnings will be good in six months.

Editor's note: Jim Cramer will present his 2009 stock outlook for the first time at TheStreet.com Investment Conference on Saturday, Oct. 25. Click for details.

Now they come after the Procter & Gambles (NYSE: PG) (Cramer's Take) and the General Mills (NYSE: GIS) (Cramer's Take) and the like, betting that the action will be better in the cyclicals with all of this money being printed worldwide.

Commodities are also coming back because of reflation. And we have to feel that many of the infra and ag names are finally sold out by the hedge fund redemptions.

Here I am speaking of a Freeport McMoRan (NYSE: FCX) (Cramer's Take), with its good yield and a belief that the hedge funds are at last done.

I don't buy it. I like a balanced portfolio, but I want to buy the GIS/PG all the way down because we are going into a recession, not going out of one. These companies pay dividends, raise dividends and have great commodity tailwinds.

Colgate's (NYSE: CL) (Cramer's Take) down a lot too, and I am liking that one.

I know they have fallen out of favor because everyone was hiding in them, but I really think that these stocks are banks, just banks that can self-finance, and that's a real positive.

I would not be surprised if they kept coming down, but I would buy them down all of the way. They aren't going away ... unlike everything else these days where you can argue bankruptcy for many is coming in a recession.

Safety will come back as a theme if only because the earnings of these companies will be good six months from now. I can't say that for a lot of other companies for certain.

Random musings: More nonsense from commentators: When are the private investors going to show up, and isn't it time for the government to step back? They obviously don't know that the Great Depression is on the table and the private sector isn't big enough. ... XTO (NYSE: XTO) (Cramer's Take) down so badly on an insider sale. Chesapeake (NYSE: CHK) (Cramer's Take) is insider buying and nobody cares. Check out that Chesapeake convertible preferred. That's a winner. ... Hedge fund names Monsanto (NYSE: MON) (Cramer's Take), Jacobs Engineering (NYSE: JEC) (Cramer's Take) and the like, finally going up. Tells you the sellers are done. ... They are forcing KeyCorp (NYSE: KEY) (Cramer's Take) and Sovereign (NYSE: SOV) (Cramer's Take) to go to the federal government. ... Aflac (NYSE: AFL) (Cramer's Take)? Is that one short of capital? ... Lot of people still pillorying me for saying on Monday that you should take money out of the market. Maybe they are not worried about Citigroup (NYSE: C) (Cramer's Take), GM (NYSE: GM) (Cramer's Take), Ford (NYSE: F) (Cramer's Take), Morgan Stanley (NYSE: MS) (Cramer's Take), Comerica (NYSE: CMA) (Cramer's Take), Sovereign, Prudential (NYSE: PRU) (Cramer's Take), Hartford Financial (NYSE: HIG) (Cramer's Take), MetLife (NYSE: MET) (Cramer's Take), Principal Financial (NYSE: PFG) (Cramer's Take), Ameriprise (NYSE: AMP) (Cramer's Take), Bank of America (NYSE: BAC) (Cramer's Take), Wachovia (NYSE: WB) (Cramer's Take), XL Capital (NYSE: XL) (Cramer's Take) and some others.

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RELATED LINKS:
Cramer: I Was Too Bullish
Balance Sheets Matter Now More Than Ever
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Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. At the time of publication, Cramer was long Freeport-McMoRan, General Mills, Procter & Gamble and Morgan Stanley.

 

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