Cramer's 'Mad Money' Recap: Fed Stranglehold

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On his "Mad Money" TV show Monday, Jim Cramer unveiled his "ultimate defensive 'Three Bs' portfolio," a necessity in a slower economy.

Cramer told viewers he has three companies that belong to the medical-industrial complex that people should consider buying. These companies, Cramer said, don't export and are American companies that he still feels comfortable recommending.

They are all "solid as richly valued stocks," but there's a decline here in each of their stock prices, which market players should take advantage of, he said.

The first 'B' name is CR Bard (BCR Quote - Cramer on BCR - Stock Picks), Cramer said. Although the stock is up 25% since he first suggested buying it in September 2005, Cramer believes Bard should continue on its pathway up.

Bard, Cramer said, is a "primo" medical device maker. Last year, 80% of its sales came from markets where it ranks No. 1 or No. 2 in market share. In 2005, Cramer advised buying Bard as a takeover target, and on Monday Cramer recommended it the same way, saying the company is small enough to swallow.

However, now the Democrats are "threatening to remove antitrust from the commerce department and put it back in the justice department," which will make anticompetitive mergers "a lot harder" to complete once, Cramer said.

Therefore, any company wanting to pick up Bard "has the gun to its head," he explained. This makes the takeover angle much more attractive.

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