Just One Share

When evaluating whether a stock is cheap, don't just look at the price tag.
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This column was originally published on RealMoney on Oct. 2 at 1:45 p.m. EDT. It's being republished as a bonus for TheStreet.com readers.

Eyes glazing over. That's what I could see when I looked out into the audience at my National Book Fair talk on Saturday at the mall in Washington, D.C.

This festival, an idea of Mrs. Bush's executed quite spectacularly by Dr. James Billington, who runs the Library of Congress, gave me a chance to address about 400 individual investors and then chat with them afterward.

I was relentless in saying that I believed

Goldman Sachs

(GS) - Get Report

,

Sears

(SHLD)

and

Altria

(MO) - Get Report

were buys. I know I succeeded with Altria, but there was something so disliked about Sears and Goldman Sachs that when I asked why, each time I heard that they were too expensive. Of course, these people were talking about the dollar amount it would cost to buy a share, not the actual expense ratio, because these stocks are quite cheap on earnings.

So I reverted to my "just buy one share" approach. I don't think people realize that some of the best stocks are high-dollar stocks, and that for the most part they are much better than the lower-dollar stocks that people want so badly.

I keep pounding on this theme, and I keep missing. So there's not much I can say, other than I still think these are fabulous buys up here and I reiterate that not only are they not expensive, but they are cheap!

At the time of publication, Cramer was long Goldman Sachs, Sears Holdings and Altria.

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

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