Stockpickr: The Top Contrarian Plays

In his latest book, Mad Money: Watch TV, Get Rich, Jim Cramer describes a strategy he likes to pursue -- doing the opposite of what Wall Street analysts are doing, specifically if a stock is moving conversely to analysts' ratings.

For instance, if analysts have a sell rating on a stock but the stock is up 50% off of its lows, then it's a good time to buy.

How come? As Jim says in the book, the analysts "are bad at admitting mistakes." Once proven wrong, they will "hide their shame for getting it wrong." And this is how he games the moment when analysts start upgrading. ...