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The Conundrum of Recession Investing

By Jim Cramer

 About this article:
 The defensives couldn't be more offensive. The offensives couldn't be more defensive. How much Union Pacific should you own going into a recession? A small position? None? Short?! How much Philip Morris or Pepsi should you own? Ten percent each? You want to own Honeywell over Procter & Gamble ? How about U.S. Steel over Clorox ? Yet that's how it has been playing out over weeks and weeks and weeks. Meanwhile, it doesn't work the same way for tech. Hewlett-Packard's probably doing great; it is offensive in the old style way, and yet it acts awful because of Mr. Softee (Microsoft ). I defy you to find a worst-acting 15% grower with a good balance sheet and an unbelievable hidden asset than EMC ! People would rather own YRC Worldwide ! Certainly Ryder ! The conundrum of the market remains that going into...

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