Jim Cramer’s Top 4 Recession-Proof Stock Picks

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In this article, we discuss Jim Cramer’s top 4 recession-proof stock picks. To read about Jim Cramer’s recession strategy, go to Jim Cramer’s Recession-Proof Stock Picks.

4. Danaher Corporation (NYSE:DHR)

Jim Cramer last month predicted that Danaher is going to have a great year in 2023 and called the company “one of the best-run companies in any industry.” Danaher has been increasing its dividends for the past 8 years. The company has a market cap of $190 billion. It’s a conglomerate that makes medical devices, diagnostics products, equipment, and much more.

Danaher is also very popular among hedge funds. A total of 89 funds tracked by Insider Monkey reported having stakes in Danaher as of the end of the third quarter, compared to 82 funds in the previous quarter.

Here is what Stewart Asset Management has to say about Danaher Corporation (NYSE:DHR) in its Q3 2022 investor letter:

“We also need to point out one global consequence of the rapid rise in interest rates: an irrepressibly strong dollar. This hurts the reported earnings of U.S. companies who sell their goods and services overseas. Foreign currency earnings translate into fewer dollars and thus lower earnings. Most of the companies in your portfolios gain a notable amount of earnings from their international operations. While the strength or weakness of a currency doesn’t change the quality of a business or its longer-term earnings power, it can change the reported earnings of a company over short periods of time. It is difficult to forecast this effect accurately because many of our companies manufacture where they sell, which to some extent dulls the sharp negative effect of a surging dollar. Danaher (NYSE:DHR), among others, is a good example.”

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