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Agriculture these days has less to do with food and more to do with energy, Jim Cramer told viewers of his "Mad Money" TV show Friday.
As long as oil remains expensive, the agriculture complex is going to take on increasing importance as a source for alternative energy, as evidenced by the soaring demand for corn and soy as energy crops, he said.
Cramer touted agriculture as the fifth long-term bull market during the weeklong preview of his his new book,
Stay Mad for Life
. Earlier in the week, he mentioned aerospace and defense, minerals and mining, oil and infrastructure.
Market players who own these agriculture stocks know they've paid off so far, he said.
all have had significant upsides this year.
Fertilizer has been the biggest winner, and the No. 1 name in this group is
, Cramer said.
have had enormous gains, too, he continued.
"All of these gains have been driven by demand," and this is just the beginning, Cramer said. There should be years and years of upside for this industry.
But while the long-term story, he said, is "fabulous," the market should give you a better opportunity two or three weeks from now to get in. Ag is right, but maybe not at these prices, Cramer said. People should wait for a pullback before they buy these stocks.
Sticking With It
The entire year has been a battle for Cramer with
, a stock he owns for his charitable trust,
Action Alerts PLUS.
This last year the stock has traded worse than any other stock he has ever seen in his 26 years of trading, Cramer said. When all other stocks went up, this one went down and the most frustrating thing about it was his thesis for owning it was entirely intact the entire time.
It wasn't going down because he was wrong about the company, he said. "It was just going down."
Now that NYX is nearly back to where it was when he recommended it at the beginning of the year, Cramer said he's sure many investors are ready to give up and sell it. However, he advised not to quit now.
"Even though you hate owning it, nothing fundamental has changed for the company underneath, it," Cramer said of NYX. Not only is the company intact, he said, but its estimates have continually increased and it keeps beating them.
It would be foolish to walk away from NYX now, especially because the fundamentals are better than they were at the beginning of the year, he said.
Taking a Pass
meets Tuesday, and right now Cramer said he's not sure what's going to happen. Therefore, he believes the best thing to do is to wait it out.
At times, investors must be willing to admit that they're powerless, he said, noting this is one of those times.
If the Fed cuts by a quarter, the fear of recession will still be around and that will keep stocks down, Cramer said. On the other hand, he said, if it cuts by half a point, people will be able to buy stocks in various industries like the industrial, tech and banking sectors.
Under normal circumstances, Cramer said he would recommend buying
, both of which report their earnings next week.
However, sometimes being a good investor means sitting it out -- the best trade sometimes being no trade at all, he said.
The Muhlenkamp Fund
Cramer said he devotes some space in his new book to mutual funds people should invest in if they don't have time to own stocks.
When a person invests in a mutual fund, it's essentially an investment in the fund's money manager, the person who will make the money. One mutual fund Cramer said he likes is
He welcomed the fund's lead manager Ron Muhlenkamp to the show and asked him to discuss his investment philosophy.
Muhlenkamp said he looks for "good companies and, when prices get cheap, to buy them." The only way people can do this, he continued, is to find good companies others don't like, he noted.
One of the stocks his fund owns is
, an Action Alerts PLUS name, Muhlenkamp said.
The money manger said he also believes
are both stocks that have more room for upside.
Cramer was bullish on
Research In Motion
Cramer was bearish on
China Precision Steel
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At the time of publication, Cramer was long NYSE Euronext, CVS Caremark, Citigroup, ConocoPhillips and Altria.
Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."
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