Cramer's Mailbag: AT&T's Rebirth

Editor's note: Jim Cramer answers questions below.

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Are AT&T (T) and Comcast (CMCSA) still worth holding onto?

-- David A.

Jim Cramer: Wow -- you just named my top telecom and cable stocks, respectively. AT&T has been born again, following the closure of the BellSouth purchase. The deal finally creates one security you can buy that gives you a pure-play on Cingular Wireless. Comcast has always been best-of-breed in the cable business, and last year's 63% gain is a sign that investors are finally embracing the sector once again.

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Do you still like the (FCNTX)Fidelity Contrafund?

-- Vince M.

Jim Cramer: Even though this fund closed to new investors last April, I believe it remains an attractive long-term holding for current holders. According to Bloomberg, the fund's performance is in the 90th percentile of the market, with a five-year compound annual return of 11.8%. Will Danoff is one of the best, most consistent managers in the market, which is no easy task when you have almost $70 billion under management.

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Will Nymex (NMX) shares ever return to the post-IPO high of $152?

-- Axel D.

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Jim Cramer: Even if energy prices have pulled back early on in 2007, I believe the exchanges remain a solid investment. That said, New York Stock Exchange (NYX) remains my favorite stock in this group, and I own it for my charitable trust. The company has the best brand in the business, and should be very successful with its international expansion strategy.

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. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

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