Amid Rubble Cramer Finds 5 ‘Buys’

(Click for video linked to a searchable transcript of this Mad Money segment)

The stock market sell-off has been so sharp and severe that if you're a bull, Cramer thinks it's time to pick through the rubble.

"I have scoured the market, and in the process, I've come up with five stocks that I'm giving you my blessing to start buying, given their tremendous price declines from the highs. These are stocks that have come down so much that their dividend yields have reached levels where they provide real protection," Cramer said.

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#1 First Cramer recommends Health Care REIT, which owns skilled nursing facilities, senior housing, hospital facilities and medical office space all across America. "In the last month, this stock has come down from $80 to $62, a 22.5% decline. And down here, HCN sports a bountiful 4.9% yield," Cramer said. With Obamacare kicking into high gear on January 1st, Cramer thinks current levels are attractive.

#2 Cramer also likes Healthcare Trust of America, one of the largest owners of medical office buildings in the country. "HTA is a $10 and change stock with a 5.3% yield that's come down 22% from its highs," said Cramer. "That's a level where I think it's safe to buy."

#3 Liberty Property Trust is Cramer's next 'buy.' It's a commercial real estate investment trust that owns office and industrial properties throughout the U.S. and Great Britain. "Liberty has fallen some ten points, from $45 to less than $35, another 22% decliner, and at these levels the stock gives you a fabulous 5.4% yield," Cramer said.

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#4 "Fourth, I have another REIT, American Realty Capital Properties, which currently pays a monster 6.4% yield. This is one of our faves that has just been smashed, down 20% over the last month," Cramer said.

#5 An MLP or master limited partnership also made Cramer's list. It's Linn Energy an independent oil and gas producer. Cramer likes this stock in part because top money manager Lee Cooperman, who owns 3% of Linn, said the stock should trade $40. The broad market sell-off has driven the stock to $33. "Cooperman is the best investor in master limited partnerships that I have ever seen," Cramer said. "During his career he's made many amazing calls, and I bet this will be another one."

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