Cramer's Stop Trading! Into Africa (5/21/09)

Stocks discussed on Jim Cramer's Stop Trading TV Segment, Thursday May 21.

Sappi (SPP), Market Vectors Africa (AFK), Randgold (GOLD), AngloGold Ashanti (AU), Freeport McMoRan (FCX)

"The profit taking is not over," said Cramer after the Dow lost 140 points on Thursday following Federal Reserve predictions of rising unemployment. He noted that investors are now less sanguine and more worried about the macro picture in the U.S.

Erin Burnett continued her "Dollars & Danger" series from Africa, and recommended Sappi, a South African glossy paper maker that pays a 5% dividend. Cramer said he is worried about exposure to the struggling magazine industry. He recommended First Bank of Nigeria, but suggested investing via Market Vectors Africa. Cramer warned that the fund was heavily weighted with South African stocks. His choice African gold play is Randgold over AngloGold. While Freeport is diversified, it has already had too big a gain.

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Comments

[I am not a ...:]

Ist Bank of Nigeria??!! .
Nigeria,although it's reaping the benefits of oil sales is also in the middle of a guerilla war with Chicom backed insurgents .Not exactly the sort of place you want to place your hard earned cash right now.

And it also brings up the question of just who exactly is reaping those oil benefits ? certainly not the local citizens who are forced to steal oil and petrol by drilling into pipelines .
More than once there have been massive explosions with an equally massive loss of life as a result.

May 22 04:45 PM