Investment Banks Are Buys
After the “worst trading day in years,” there is still something “beautiful” happening in a distant corner of the ugly market, Cramer stated. Jim thinks that investors should look to buy financial stocks in the midst of today’s crash. He really likes the brokerage stocks like Merrill Lynch & Co. Inc (MER), Lehman Brothers Holdings Inc (LEH), Morgan Stanley (MS), The Bear Stearns Companies Inc (BSC) and Goldman Sachs Group Inc (GS). Cramer owns Goldman for his trust. For the first time in his memory, all five big brokers are “being run by great management,” Cramer said, adding that a company’s management can make or break its performance. Cramer thinks these stocks are selling at a 30% discount to the average stock and he doesn’t see that lasting long. Jim is ignoring that these stocks have been in a downtrend for the last five days. He wants investors to pick one and start putting some money to work in these names. He wants us to buy the dips cause he doesn’t think the brokers are done going down. Jimmy likes GS the most out of all of them, but he isn’t against people buying any of these top five. He is bullish on the management of all of em.



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