TheStreet.com Staff
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Jim Cramer says it's time to look to the Golden State to make some money. California, which is bigger than most countries, represents most, if not all, of the trends and problems in this nation, Cramer told viewers of his "Mad Money" TV show Wednesday. Wall Street is not paying attention to the state as a way to make money, but "if you want to beat the market, you need to notice things before the analysts do," he said. "That way you get to the right stocks before everyone else does." Focusing on California legislation, Cramer said that the state's Legislature passed a bunch of bills last week. A lot of people believe that the Democrats will retake the U.S. House of Representatives in two months, and California's Gov. Arnold Schwarzenegger might need Democratic votes in his state to get re-elected, he said. Some of the biggest bills in California that "the Governator" might have to sign may create laws that could help or hurt companies in the state, Cramer said.
The first bill is what he called the "Anti-Wal-Mart (WMT Quote - Cramer on WMT - Stock Picks) Bill."
This bill adversely affects retailers that have more than 10,000 square feet, Cramer said. That's why he believes market players should sell Wal-Mart.
The second bill, which Cramer named the "Booster-Seat Bill," requires children 8 years old and younger to be in a booster seat when riding in a car.
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