Cramer's 'Mad Money' Recap: A New Swing on Graphite
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Jim Cramer told viewers of his "Mad Money" TV show Friday that he's on fire when it comes to the composite materials.
At the beginning of the year, he said that
(ATI) was his
Banking on Brazilian Build"Just like many people did in the late '40s, we're going from Germany, where I recommended SGL, to Latin America," Cramer said. But he said to look at Brazil rather than Argentina, and he likes Banco Itau (ITU). The bank just bought back Bank of America's (BAC) Brazilian business, making it the No. 1 bank in the country. He said it's time to think about buying the stock because we are in the midst of "the great Latin American bull market ... the most improbable bull market in the world." When U.S. interest rates go up, we're supposed to get a cold and Latin America is supposed to get pneumonia, he said. And when governments are unstable anywhere on the continent, all the Latin American stocks should go down. But Brazil has boomed despite months of rate hikes in the U.S. He pointed out that Brazil is lowering its rates and is energy self-sufficient, both good reasons for it to grow. He likes Banco Itau because it is involved in wealth management and credit cards. "A few years ago, Brazil had neither wealth nor credit cards," he said. But now the country is on fire, and it has a lot of both.
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