NEW YORK (TheStreet) -- On his Tuesday Stop Trading! segment on CNBC, Jim Cramer said that Goldman Sachs (GS) - Get Report, which reported second-quarter earnings of $2.75 a share on Tuesday, is a buy.
"The fact they earned $2.75 where there's no money to be made ... this is the Goldman that I know," Cramer declared. "When you can make money when the government and British are targeting you," that's no small feat, he said.
Cramer said that Goldman doesn't have a lot of competition, so when the business environment gets better, "they'll do great."
Cramer also addressed a recent report from
that predicted the end of the "cult of the equity investor," meaning that people will stop believing in stocks.
Cramer said that comment was "the most stupid thing I've heard in a long time," while citing
robust second-quarter outcome. For Cramer, Pepsi had a remarkable quarter and is a company that "can make you money."
Cramer's Stop Trading! Apple
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-- Reported by Andrea Tse in New York.
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