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Get Paid to Wait with Clorox

Investors troubled by this testy and often volatile market should fear no more, or a little anyway. Cramer on Thursday highlighted a stock that pays you to wait: Clorox .

"In this rough market, you need to find companies like Clorox that are improving themselves and will pay you to wait for things to get better via a healthy dividend," Cramer said. "If we really are headed for a recession, this is exactly the kind of stock that can still make you money in the context of a severe slowdown, which I still hold out is the more likely scenario."

(RELATED: Cramer's Top Dividend Stocks 2011)

Cramer likes Clorox because it makes everything from cleaning products, like Pine-Sol to cat litter under the Fresh Step brand, as well as Hidden Valley dressing and Kingsfords charcoal, among many other products. People don't stop buying these things because of the economic slowdown, Cramer said. The company does have to deal with rising commodity costs and it's also facing competition from generic brands, but Cramer thinks these issues are already baked into the stock.

Clorox is currently selling for 16 times earnings with a 10 percent growth rate. Cramer recommends investors start building a position now and buying more on the way down.

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