"Maybe this is the end of the monster expensive buybacks," said Jim Cramer on Thursday's "Stop Trading!" segment on CNBC.
, which he owns for his
charitable trust, as an example. "Here's a company that has bought back stock for years and years and years, and the buyback did nothing," he said. "They canceled the buyback, and the stock goes up. I'm telling you that corporate America is going to re-evaluate buybacks."
"is the quickest way to make money off" the government bailout plan, Cramer said, other than banks.
He said the principal beneficiary of the package will be the area that's been hardest-hit: California. KB Home is a "good company, obviously in a terrible industry," with a good balance sheet and a safe dividend, he said.
Another idea he offered up was
, which has a 7% yield. "I'm willing to actually go to a Latin American stock here," he said, explaining that that area's been so hard-hit that the stock could bounce. He cautioned that he's not ready, though, to endorse
At the time of publication, Cramer was long General Electric.
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