Cramer Swims Against The Tide And Buys Morgan Stanley (MS)

Today, Jim Cramer picked up 100 shares of Morgan Stanley (NYSE: MS) at $13 for his ActionAlertsPlus.com portfolio. Currently, Morgan Stanley is trading down to $12.

Cramer likes what Morgan Stanley is doing to improve its position as a bank holding company. He said he owns and likes the stock because it has a strong liquidity position, diversified businesses, top management and a low valuation.

At a conference today, the Morgan Stanley CFO said its long-term goal is to get 50% of its funding from "stable" businesses, meaning equity, long-term debt and deposits.

Cramer said, "So, while the environment remains difficult for all of the financials, Morgan Stanley's strong management team remains focused on its strengths and continues to grow the businesses when and where it can. Although the company's fixed-income division remains under pressure, its other businesses are a good buffer and will be the growth drivers for the future. Morgan Stanley remains a strong brand around the globe, and its new ties with Mitsubishi will only help."

After Jim's 100-share buy today of Morgan Stanley for his ActionAlertsPlus.com fund, he will own 4,200 shares of Morgan Stanley, or 2.43% of the portfolio.

Subscribe to EasyStockAlerts.com & Get real-time e-mail alerts when news hits your stocks!

You May Also Be Interested In

• Morgan Stanley Private Credit Fund Caps Redemptions At 5%
• KB Home (KBH) PT Raised to $66 at UBS on Market Stabilisation and Execution
• Arm Holdings (ARM) PT Raised to $470 at UBS on Raised Revenue Estimates