Jim Cramer's Stop Trading! Buy Altria

Cramer likes consumer staples in this fearful environment.
Author:
Publish date:

Buy

Altria

(MO) - Get Report

, Jim Cramer said Thursday on CNBC's Stop Trading! segment.

Cramer said recession fears and worries about financial stocks point to the need to buy consumer staples like cigarette maker Altria and soft drink companies

Coke

(KO) - Get Report

and

Pepsi

(PEP) - Get Report

.

Cramer cautioned investors to stay away from mortgage stocks like insurer

MBIA

(MBI) - Get Report

, because housing prices are far more important to the consumer's health than job numbers. Cramer said an unwarranted faith in the apparent strength of U.S. employment was behind the collapse of two hedge funds at

Bear Stearns

(BSC)

this summer.

"Employment has been a false indicator for this economy," Cramer said.

Cramer likes

Carnival

(CCL) - Get Report

better than

Royal Caribbean

(RCL) - Get Report

, because Carnival has moved its ships to Europe to cash in on the stronger economy there, and likes

NCR

(NCR) - Get Report

to buy into the coming spinoff of its holdings in

Teradata

(TDC) - Get Report

.

At the time of publication, Cramer was long 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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