Cramer's 'Mad Money' Recap: Judging Judge Roberts' Portfolio

Look to Latin America

Cramer told his viewers there is opportunity south of the border. "Latin America has so much growth and so much potential growth," Cramer said. But Cramer said Wall Street is still acting as though dictators are running all of these Latin American countries.

Cramer said that investors should buy Cemex(CX Quote), which is a cement play, and Companhia de Saneamento Basico(SBS Quote), which is a Brazilian water utility.

SBS, which trades at nine times earnings, compares very favorably with Aqua America(WTR Quote), especially when Aqua trades at 38 times earnings in the U.S. Cramer called the stock undervalued and said investors should take a look at the stock.

Cemex, which trades at seven times earnings, is way too cheap, Cramer said. "It might be the purest play on Latin American growth," Cramer said. In the event of a Latin American boom, Cramer said investors will want to own this name.

Cramer said that given how much Wall Street cares about growth, these stocks are too cheap and too disliked. But it's time to buy these stocks, Cramer concluded.

Herb Blurbs

Cramer had markets commentator Herb Greenberg in the studio for a visit. The two talked about Terex(TEX Quote) and CVS(CVS Quote).

Regarding Terex, Greenberg said that when he originally wrote about the company, the story was very complicated. And indeed, the company eventually had to restate its earnings. Greenberg doesn't believe that the new highway bill, when it's passed, will do anything for Terex in the short term. It won't do anything for the company until at least 2006, Greenberg said.

Greenberg also took Cramer to task for recommending a stock that is clearly not best of breed in its industry. That honor would go to Caterpillar(CAT Quote). Cramer said he couldn't turn his head on a good trade, however, even though Terex may not be best of breed. What's more, Cramer said Terex shouldn't trade at the considerable discount to Caterpillar that it does. Finally, Greenberg said if you are looking for pure plays in the areas where Terex does business there are better ones out there.