Jim Cramer Likes Macy's And Blackstone Group

Jim Cramer said on CNBC's Mad Money that Macy's, Inc. M might have bottomed. It had a big inventory problem with warm clothes and it is freezing now, explained Cramer. He added that the stock pays almost 4 percent dividend yield and it has a pretty decent balance sheet.

Cramer wouldn't bet against Stephen Schwarzman and Blackstone Group LP BX. He likes the dividend yield and he suggested that a viewer shouldn't close his long position in the stock.