Cramer: Buy Petrobras (PBR) on Today's Weakness

On today's segment of Stop Trading!, Jim Cramer told investors to buy Petroleo Brasileiro (NYSE: PBR), also known as Petrobras, or Pabst Blue Ribbon to the CNBC commentators. While Cramer also discussed other stock happenings, such as Visa's (NYSE: V) first day of public trading, the President of Cramerica called out Petrobras as the stock is taking a hit today due to commodity prices that have been slumping all day. Just before the market close, shares of Petrobras are down about $9 to $97.70.

Justifying his claim that Petrobras, Brazil's largest integrated oil company, is a buy, Cramer turned his attention to the mutual fund guru, Ken Heebner. Jim told viewers that while writing his newest book, Stay Mad for Life, he thoroughly researched a huge list of mutual funds in an attempt to find the top performing money managers. He said Heebner is hands down the best mutual fund manager on Wall Street today. Cramer notes that Heebner recently recommended shares of Petroleo Brasileiro and the stock is now down more than 7% since his suggestion. Putting it simply, Cramer said "if Heebner wants it... I'm happy".

Additionally, Cramer mentioned that Brazil was down today and pointed out that Brazil's currency, the real, is Warren Buffett's favorite currency.

Petroleo Brasileiro S.A. "Petrobras", together with its subsidiaries, engages in the exploration, exploitation, and production of oil from reservoir wells, shale, and other rocks in Brazil. [BCS]

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