Skip to main content

This column was originally published on RealMoney on Nov. 9 at 11:14 a.m. EST. It's being republished as a bonus for readers.

Dollar rocking. Equities finally having volatility. Bond market springing to life. Big auctions coming -- bond auctions, that is. Major massive international mergers and acquisitions. Incredible volumes on the exchanges in Chicago.

Don't you wish you had a horse in this race? Don't you wish that you could make money off of all of this activity -- newfound activity that is making the brokers huge money, and paying their employees gigantic bonuses?

I have two ways to do it. As usual, I like a dumbbell approach, best and worst with equal weights:

Goldman Sachs

(GS) - Get Free Report


Morgan Stanley



Goldman Sachs is the pure play; no one sees stuff better and clearer than Goldman. Its people are at the pulse of everything. If anything, the word around Wall Street is that Goldman's too powerful, that it has its fingers in everyone's pie.

I hear stories of people trying to buy Refco just to keep it from Flowers, which is regarded as a Goldman arm. Goldman has this fantastic multibillion-dollar vehicle that it plays this stuff with: the partners' capital. Consider it the most regulated hedge fund on earth. You have to own a piece of it, and you can, by buying GS stock.

Morgan, on the other hand, has been getting its head handed to it. The old management paid people millions to leave and millions not to leave. It might be a year before we even know the damage Phil Purcell did on his fated way out.

That's why the stock's at $53.

Image placeholder title

The pessimism here is so baked in that I have to believe the company will either be purchased by someone with a strong currency from Europe, or it will be turned around by surprisingly good quarters. Heaven knows, Morgan Stanley was so poorly run under Purcell that I think an empty suit -- like Purcell -- could do a better job than that suit, even if from

Syms, and he would be less antagonistic. But John Mack is anything but an empty suit. He is a tough, no-nonsense business man who doesn't like to lose.

His stock at $53 is a sign that he has lost. The game, however, has just begun.

I'd own them both.

P.S. from Editor-in-Chief, Dave Morrow:

It's always been my opinion that it pays to have more -- not fewer -- expert market views and analyses when you're making investing or trading decisions. That's why I recommend you take advantage of our

free trial offer



premium Web site, where you'll get in-depth commentary


money-making strategies from over 50 Wall Street pros, including Jim Cramer. Take my advice --

try it now.

James J. Cramer is a director and co-founder of He contributes daily market commentary for's sites and serves as an adviser to the company's CEO. Outside contributing columnists for and, 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

ActionAlertsPLUS. While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by

clicking here. Listen to Cramer's RealMoney Radio show on your computer; just click

here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click

here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click

here to get his second book, "You Got Screwed!" and click

here to order Cramer's autobiography, "Confessions of a Street Addict." Cramer appreciates your feedback and invites you to send him an email by

clicking here