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NEW YORK ( TheStreet) -- "With the NFL football season starting tomorrow, it's time to pick our fantasy stock portfolio," Jim Cramer announced to the viewers of his "Mad Money" TV show Wednesday. Donning his "Mad Money" football helmet, Cramer said picking a diversified portfolio is a lot like picking the best players for each position you need for a football team. For his running backs, Cramer chose ConocoPhillips ( COP), a stock which he owns for his charitable trust,
Natural Gas PlayIn an exclusive "Executive Decision" segment, Cramer spoke with John Sherman, president and CEO of Inergy ( NRGY), the country's fourth largest distributor of propane gas and a master limited partnership currently yielding 7.8%. Sherman said while he still likes the propane business, Inergy's recent acquisition of Tres Palacios Gas in Texas creates an opportunity to take the company to a new level. He said the acquisition not only puts Inergy on the map for the natural gas business, it also makes them the largest storage provider of natural gas in the country. When asked whether this acquisition adds additional risk to the company, Sherman said the storage business is 100% fee based, just like Inergy's propane business, and is agnostic to the price of the commodity. He said Inergy plans to grow and develop the Tres Palacios assets for at least the next 20 to 30 years. Sherman also noted that the acquisition also gives Inergy a competitive advantage over other players given the location of the Tres Palacios storage facilities. He said they sit right between the gas shale fields, with their huge reserves, and the high demand markets of the Northeast and Texas. He said it also gives Inergy exposure to Florida and the Midwest markets as well as several power generation markets. Cramer said with a 7.8% yield, Inergy is a must own stock, especially given its recent decline as a result of the company's secondary offering that will help it pay for the Tres Palacios deal.
Am I Diversified?Cramer spoke with callers to see if their portfolios have what it takes. The first caller's portfolio included: Copano Energy ( CPNO), Bank of America ( BAC), Windstream energy ( WIN), EV Energy Partners ( EVEP) and Ford ( F). Cramer said Copano and EV Energy Partners are two energy companies. He recommended selling Copano in favor of a food stock. The second caller's top holdings included AT&T ( T), Loews ( L), Pepco Holdings ( POM), B&G Foods ( BGF) and Clarcor ( CLC). Cramer said this caller has done some great work and has a great portfolio. The third caller had Citigroup ( C), Potash ( POT), Microsoft ( MSFT), Verizon ( VZ) and Intel ( INTC) as their top five stocks. Cramer said this portfolio can't have both Intel and Microsoft. He advised selling Microsoft and picking up an industrial company. The fourth caller's top stocks were AT&T ( T), Altria ( MO), Dominion ( D), Southern Copper ( SCCO) and United Technologies ( UTX). Cramer said this portfolio was also terrific.