Jim Cramer's Stop Trading! Buy Altria
Buy
Altria
(MO) - Get Altria Group Inc. 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 Coca-Cola Company (The) Report
and
Pepsi
(PEP) - Get PepsiCo Inc. Report
.
Cramer cautioned investors to stay away from mortgage stocks like insurer
MBIA
, 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
TheStreet Recommends
(BSC)
this summer.
"Employment has been a false indicator for this economy," Cramer said.
Cramer likes
Carnival
(CCL) - Get Carnival Corporation Report
better than
Royal Caribbean
(RCL) - Get Royal Caribbean Group Report
, because Carnival has moved its ships to Europe to cash in on the stronger economy there, and likes
NCR
(NCR) - Get NCR Corporation Report
to buy into the coming spinoff of its holdings in
Teradata
(TDC) - Get Teradata Corporation 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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