Cramer said this portfolio was too concentrated in financials and advised selling Western Union and Bank of America and adding Apple and Bristol-Myers Squibb.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer explained the significance of ConAgra's ( CAG) Tuesday announcement it is buying private-label food maker Ralcorp ( RAH). Cramer said that for a long time nationally branded items ruled the roost. But in this past recession many of these brands lost some of their appeal. He said private-label items, which once came in simple black-and-white cans and were only sold in low-end stores, became the bread and butter of retailers such as Costco ( COST). With their new hip packaging and better formulations, private-label goods are now in some ways even better than their branded competition. As the divide between rich and poor becomes ever larger, Cramer said the move towards private label also becomes larger, an irreversible trend that ConAgra saw and capitalized on. To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. -- Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC