Cramer's 'Mad Money' Recap: Middle East Petrodollar Plays
05/09/07 - 07:20 PM EDT
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"We've been playing the BRIC [Brazil, Russia, India, China] game for a long time, and now it's time to go even more global," Jim Cramer told viewers of his "Mad Money" TV show Wednesday. "Say hello to 'BRIC-ME,'" which is BRIC plus the Middle East, he said. Caterpillar (CAT Quote - Cramer on CAT - Stock Picks) and Cummins (CMI Quote - Cramer on CMI - Stock Picks) tell us this is the new capital of global capital investment. Cramer owns CAT for his charitable trust, Action Alerts PLUS, In addition, Cramer's past two infrastructure plays in the Middle East have been red hot, he said. McDermott International (MDR Quote - Cramer on MDR - Stock Picks) is up 13% since last Friday. Also, Foster Wheeler (FWLT Quote - Cramer on FWLT - Stock Picks), Cramer continued, was up an "astonishing" 14 points today, much of that coming from infrastructure work around the Middle East.
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