Yesterday's Goldman Sachs call to sell U.S. life insurance companies was "frightening," said Jim Cramer on Wednesday's "Stop Trading!" segment on CNBC. "And Principal Financial (PFG) - Get Report was viewed as their best idea as a sell."

"There is a feeling here that they should raise capital. I don't disagree with that," said Cramer. He said that

Wells Fargo

(WFC) - Get Report

"is the tell here. If WFC can hold, then it's possible to raise capital in the hole again."

Cramer said he's being realistic about the market. "I'm not coming in and saying, 'Buy, buy, buy. It's the greatest opportunity,'" he said.

Instead, he's recommending

Pfizer

(PFE) - Get Report

, whose yield is nearly 8%. He said he didn't like the stock when the yield was at 5%, 6% or 7%, but now he's giving it a second look. "This is new for me. Even Pfizer, at 8%, the worst drug company that I follow, is a buy."

At the time of publication, Cramer had no positions in stocks mentioned.

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