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Jim Cramer Steps Into Financials And Bought Morgan Stanley (MS) This Week
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This week Jim Cramer picked up some shares of Morgan Stanley (NYSE: MS) for his ActionAlertsPlus.com fund. Jim Cramer bought shares of Morgan Stanley on Monday and picked up some more on Tuesday
Jim said he believes Morgan Stanley is a good quality name that is on sale. He thinks the stock is cheap and is only trading at 1.7 tangible book and 7.1 times 2009 earnings. Cramer likes MS management and believes Morgan Stanley is honing in on earning profits in every business segment. He also noted that the brokerage and asset management businesses are doing well despite the fixed income business.
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