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Cramer Quick Take: Talking MLPs

NEW YORK ( TheStreet) -- "Mad Money" Research Director Nicole Urken sat down with TheStreet's Jim Cramer to talk about master limited partnerships.

With the recent run in stocks, many investors are left wondering where to put their money to work. Bonds won't work, according to Cramer -- even municipal bonds, because they don't yield enough and can't keep pace with inflation.

Cramer said investors need to own REITs, utilities (for growth) and some MLPs, noting, you "only need to get rich once." Urken added that some of their favorite MLPs include Enterprise Products Partners (EPD) and Kinder Morgan Energy Partners (KMP).

Urken noted that in all MLPs you want to look for three things, and specifically Kinder Morgan and Enterprise Products offer them: strong management, a continually growing yield and the least exposure to commodities.

Cramer added that companies such as General Mills (GIS) and Campbell Soup Company (CPB) are quality companies with healthy dividends, but lack a favorable yield after the run in stocks this year.

Urken concluded that MLPs are "just right for this environment."

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-- Written by Bret Kenwell in New York..
At the time of publication, Cramer's Action Alerts PLUS had a position in KMP.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of or its affiliates, or CNBC, NBC Universal or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

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