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NEW YORK ( TheStreet) -- There's only one general that Jim Cramer would follow into battle, and it's not General Mills ( GIS).

He told Debra Borchardt at TheStreet.com Wednesday that General Electric ( GE), a stock he owns for his charitable trust, Action Alerts PLUS , is the real opportunity.

Cramer said that while General Mills is a stock that lets investors sleep well at night, it lacks the growth and yield of other packaged goods companies including McCormick ( MKC), Hershey Foods ( HSY) or Kellogg ( K).

As for General Electric, Cramer said investors have a love hate relationship with this company, but he'd use a recent downgrade as a buying opportunity. GE is a play on a global economic recovery, he said, the same recovery that has shareholders of FedEx ( FDX) so excited should do the same for GE shareholders. Cramer said GE's lackluster guidance is merely conservative and he expects great things in 2013.

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-- Written by Scott Rutt in Washington.

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At the time of publication, Cramer's Action Alerts PLUS had a position in FDX and GE.

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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Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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