Weekdays, CNBC’s Investment Club along with Jim Cramer hosts a “Morning Meeting” live stream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. The Fed is not ready to stop reminding the investment mantra Look to Buy 1. The Fed is not ready to stop hotter than expected on a yearly basis. This shows that inflation has not yet come down and the Fed is not ready to stop tightening. The next piece of data that will help determine the Fed’s next move — in other words, whether the Fed will raise rates by 25 or 50 basis points at its February meeting — is the December unemployment report. Industry fell to 4%, which is good news for the central bank. 2. Stick to our investment mantra As we close out 2022, we remind investors of our mantra: Buy shares of profitable manufacturing and trading companies and return part of that cash to shareholders. Find stocks that are outdated, boring but make money, withstand potential downturns and grow sustainably. Stocks that have performed well this year also tend to report high earnings and pay dividends. While these aren’t stocks that investors typically like, they are stocks that tend to do well. Some of the defensive growth staples in the Club’s portfolio include Constellation Brands (STZ), Costco (COST) and Humana (HUM). 3. Look for Buys Note that we are looking for potential buys in this oversold market. However, we are avoiding old-fashioned stocks and instead, we are looking at cheap names on a price-to-earnings basis. Cramer says he wants to look at food stocks for potential purchases, noting that JM Smucker (SJM), Campbell Soup (CPB) and General Mills (GIS) are all companies that fit the top mantra. of the Club. (Jim Cramer Charitable Trusts long COST, HUM, STZ. See here for a full list of stocks.) As a subscriber to CNBC Investment Club with Jim Cramer, you’ll receive notifications transaction before Jim makes the transaction. Jim waits 45 minutes after sending the trading notice before buying or selling shares in his charity’s portfolio. If Jim had talked about a stock on CNBC, he would have waited 72 hours after issuing a trading warning before taking a trade. INFORMATION ABOUT THE ABOVE INVESTMENT CLUB IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, PLUS OUR DISCLAIMER. NO Fiduciary Obligations OR OBLIGATIONS EXIST, OR BE CREATE, BECAUSE OF YOUR RECEIVING ANY INFORMATION PROVIDED IN RELATED TO THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS GUARANTEED.