“I’d Buy It Here,” Said Jim Cramer As The Goldman Sachs Group, Inc. (GS)’s Shares Fell

We recently published Jim Cramer Analyzed These 10 Stocks & Discussed Inflation. The Goldman Sachs Group, Inc. (NYSE:GS) is one of the stocks Jim Cramer recently discussed.

The Goldman Sachs Group, Inc. (NYSE:GS)’s shares fell by 1.9% during the day this show was aired. The dip was due to broader market pessimism about the US economy. Such moods typically trim bank stocks as investors become worried about loan recovery and a slowdown in mergers and deal-making activity. However, Cramer took the contrarian view and recommended that he’d just buy the stock at these levels. His comments built on previous remarks where he called The Goldman Sachs Group, Inc. (NYSE:GS) a “barometer” for the stock market. Here is what Cramer said:

“[On GS being the worst performing Dow name] Yeah my charitable trust owns Goldman, I’d buy it. I’d buy it here. They’re having a great quarter. I mean there’s so much M&A. Just over and over again there’s M&A.

“That’s profit taking because Goldman sells at maybe 14 times earnings. I’m not too worried about them. I really like that idea.”

Source: Pixabay

Cramer believes The Goldman Sachs Group, Inc. (NYSE:GS) is closely linked to the stock market as he recently remarked:

“The reason I brought it up instead of Rocket Mortgage is because Goldman encapsulates everything, IPOs, right, M&A, trading volume. This is the barometer for this stock market and it took off in a way that I haven’t seen in ages.

“I just wonder what the President thinks of Kostin. Because Kostin’s very good. . .no, no I think Kostin’s good.”

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Disclosure: None. This article is originally published at Insider Monkey.