Several key areas are dangerous for investors in this economic environment, said CNBC's Jim Cramer, and his charitable trust is betting on this strategy. On the other hand, Cramer sees big potential in some other crucial areas that are set to benefit from a higher rate environment.
"I won't surrender to the crowd that says all good news is now horrible. All good news is horrible for Procter, it's not good for utilities. There are segments of this market that are horrendous, like the real estate investment trusts," Cramer said on "Squawk on the Street" Friday.
"At the same time, look at Citi. This is a stock that has gone from $39 to $53. Has anyone said anything? That's a quiet bull market that's happening because rates are going higher," he said.