TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer is cautious on stocks.

He highlights 12 reasons driving that caution in a column on Real Money Wednesday. 

Inflation, is one reason to be cautious, according to Cramer.

"It is ultimately gut wrenching to listen to the conference calls and hear about freight - we know that aluminum, copper, steel, lumber and oil are up," Cramer noted. "When you put all that together what it says is stagflation."

For exclusive investing insight from Jim Cramer, get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!

Subscribe to our Youtube Channel for extended interviews, Cramer Replays, feature content, and more!

More from Video

Former U.S. Education Secretary: Voters Are to Blame for Struggling Schools

Former U.S. Education Secretary: Voters Are to Blame for Struggling Schools

Meet Blackbird, the New 'Uber of the Skies'

Meet Blackbird, the New 'Uber of the Skies'

Here's How to Trade Walmart, Nordstrom, Macy's and J.C. Penney After Earnings

Here's How to Trade Walmart, Nordstrom, Macy's and J.C. Penney After Earnings

Here's Why Stock Picking Is Especially Important in the Retail Sector

Here's Why Stock Picking Is Especially Important in the Retail Sector

Tip For Financial Advisors: Think Outside the Box

Tip For Financial Advisors: Think Outside the Box