Jim Cramer on Charles Schwab: "I'm a Big Fan of This Retail Brokerage House"

The Charles Schwab Corporation (NYSE:SCHW) is one of the relatively cheap S&P 500 stocks Jim Cramer talked about. Cramer said that he is a “big fan” of the firm and commented:

“Beyond the banks and the credit card issuers, Charles Schwab made the cut, and I’m a big fan of this retail brokerage house.”

The Charles Schwab Corporation (NYSE:SCHW) provides wealth management, brokerage, banking, and advisory services, offering trading platforms, investment products, retirement solutions, and custody services. Cramer mentioned the stock during a July episode and commented:

“Charles Schwab announced a 17% increase in net new assets month over month. That’s an amazing gain, and it totally justifies the stock’s 2.3% move. Rational.”

A month before that, Cramer suggested being careful before buying the stock, as he said:

“Finally, don’t say I didn’t tell you so, we’ve been championing Charles Schwab from the days when the doubters cast dispersions on the balance sheet. That was 25 points ago. They’ve been silent of late. But I think the short sellers like to come out and color the opening of trading when Schwab opens. I say be very careful before you do some buying.”

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Disclosure: None. This article is originally published at Insider Monkey.