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Jim Cramer's Favorite Financial Stocks

By Insider Monkey:

Jim Cramer is the host of CNBC's "Mad Money" and the chairman of TheStreet.com. In 1987, Cramer started his own hedge fund and returned an average of 24% per year between 1987 and 2001. Cramer also authored six money management books.

While Cramer has been notoriously bearish on bank stocks, there have been a few that he recommends if you can stomach the risk. During the month of August, the financial stocks he recommended on “Mad Money” were as follows:

1. Wells Fargo (WFC): A viewer inquired as to Wells Fargo long-term growth prospects. While Cramer said WFC would be a survivor, in the end it is a bank stock and will be a long time before owning the stock will be profitable. Aside from Warren Buffet, Robert Pitts of Steadfast Capital Management has also been buying WFC shares en masse (see more of Pitts’ picks).

2. Annaly Capital Management

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