Jim Cramer, who is the host of the popular CNBC (Cable Business Channel) financial program "Mad Money," along with being one of Wall Street's most successful traders and stock pickers, just anointed Wal-Mart, Inc. stock as the "ultimate stock" to buy right now.Here's what Cramer said a bit earlier on CNBC:
"September's been the worst retail month in memory," Jim Cramer said on today's "Stop Trading!" segment on CNBC.
But there is at least one opportunity in the space, he said. "It's all Wal-Mart (WMT Quote - Cramer on WMT - Stock Picks). Wal-Mart could end up killing everyone."
Wal-Mart is the "ultimate stock," he said. "There's really no other retailer to own other than Wal-Mart. It's just a gigantic, gigantic buy."
Cramer, who in addition to hosting "Mad Money" and appearing on other CNBC business and financial news programs, is a best selling author of investment books, as well as being an active investor.
The trader/business show host/author/investor has a huge following. His books regularly hit the New York Times' best seller list almost as soon as they are published.
Cramer also writes for the financial website Thestreet.com. You can read him here.
Additionally, institutional and individual investors listen to his advice closely, many even emulating the stock portfolio he has devised on his show "Mad Money." Cramer donates all of the profits from that portfolio to charity.
Cramer also has been calling the current Wall Street investment bank and financial crisis down the line since earlier this year, predicting even the demise of Bear Sterns and Lehman Bros. well before both investment banks went bankrupt.
He also has said Goldman Sachs might end up being the only major independent investment bank left standing on Wall Street. There are only two left -- Goldman and Morgan Stanley. The others (besides Bear and Lehman), such as Merrill Lynch, have been acquired by banks, in its case Bank of America.
It wouldn't be surprising if Wal-Mart, Inc. stock rises based on Jim Cramer's super-bullish words today on CNBC, in which he went as far as to say its the only retailer stock worth owning in terms of the retail sector, and went even further than that, calling it the "ultimate stock."
With so many institutional and individual investors looking for equities in which to put their money -- what's left after they've moved most of it to gold and cash of course -- Cramer's comments today could not only infuse Wal-Mart, Inc. with new investment capital, but be a nice boon to its current investors as well in terms of stock share value.
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