At the beginning of a new year Jim Cramer likes to identify themes that he thinks could propel gains for the long-term.
By themes Cramer means ideas that should dominate sentiment and trends for a period of time. If correct, the stocks of companies that benefit from those themes should go higher.
And a theme that Cramer likes for 2013 is aerospace.
"By now we have all seen the stories about the troubled Dreamliner. Nothing like genuine footage of smoking planes to get your attention," said Cramer.
And as serious as those troubles may be, Cramer said don't let them distract you from a string of other developments – positive developments in the sector. They follow:
- Globally there are more there are 8900 orders for new planes.
- Airline companies are the most solvent they have ever been.
- Plane demand from businesses jets is increase 12%.
- Plane demand from regional jets is increasing 22%.
- Air travel could go up almost 4% this year.
These developments, said Cramer, should trump concerns about the Dreamliner as you form a long-term thesis
So how do you invest in this theme?
"The most obvious idea is Boeing," said Cramer but considering recent events you'll need a strong stomach.
"We saw billions in market capitalization taken away these last couple of days because of the defects on a small number of planes," he said.
But if you have an appetite for risk – Cramer thinks you'll likely see reward.
What matters most is that there's been no big cancellations and I trust the CEO, Jim McNerney when he says that these are 'teething' problems akin to expected growing pains.
However, if you're not fond of risk – Cramer understands.
"I have to tell you, Boeing became too much for me as someone who runs a charitable trust, and I finally threw up my hands and said, you know what I'm going with a different aerospace play."
And that play is United Technologies, a maker of aircraft equipment and engines. "The company is a fantastic maker of all sorts of integral aircraft parts," said Cramer.
In addition, Cramer sees another catalyst for this stock. "Now that United Technologies has successfully completely its acquisition of Goodrich, I wouldn't be surprised to hear management announce an aggressive plan to return capital to shareholders."
Looking for another play?
"Do not forget Honeywell," said Cramer. Although they're involved in diverse businesses ranging from the manufacture of refrigerants to portable generators, "Honeywell makes the smart cockpits for just about every aerospace concern," said Cramer.
However, Cramer added Honeywell is only a buy on a pullback. "The stock's been a rocket ship and I feel like without a real pullback you will have top ticked this screaming monster."
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