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Editor's note: The following is a recap of the Jan. 31 show, which was rebroadcast on Wednesday, June 28.
"The United States is once again a great manufacturing nation," Jim Cramer told viewers of his "Mad Money" TV show.
You've probably heard that we're just a service economy, Cramer said. But for viewers who want to make money in the market, he said to "ignore the sirens of disillusionment and turn your attention to American manufacturing."
When done properly, manufacturing can create an "awesome amount of wealth," he added, which is why he offered up his top 10 U.S. manufacturing companies.
It doesn't fit with the conventional wisdom, but these companies have what it takes to beat out competitors in Brazil, Russia, India and China.
When you see one of them take a dip, take that opportunity to buy because this is where the money will be over the long term.
In no particular order, he began with
, which he called the best infrastructure play. Competitors include
, which Cramer said is not best of breed; and
, which, he said, is hated by the media.
Fluor is a company that has money behind it and its markets are all in bull mode, he said.
While many have never heard of
, Cramer said it's the king of engines because its engines are everywhere.
"It's like opening a PC and finding an Intel chip," he said.
He said the company serves customers in more than 160 countries, and that it makes exhaust filters, a market doing well because of environmental concerns.
He added that its generator business is doing well, and that it is synonymous with diesel.
Cramer reminded viewers not to run out and buy these top 10 companies all at once because they're cyclical stocks, meaning you can't own them all the time; but you can watch for when they get too cheap and pick them up.
That said, his third U.S. manufacturing stock was
If people want to focus on the bull market in natural resources, Caterpillar is the way to get the stuff out of the ground, he said. And Cramer believes the company is also the king of mining and forestry equipment.
Caterpillar just posted $30 billion in annual sales, is the acknowledged technical leader and is a great clean diesel play, Cramer said. And from an earnings perspective, he believes it's a good bet because it broke its union.
Cramer said that's good because it means it won't be embroiled in labor issues.
Another "stinky, dirty company" Cramer anointed was
. He said the company is in 175 countries, has 43,000 employees and spends $20 billion a year on natural gas but still manages to make money.
The company's success rides on one word, Cramer said: plastics.
A caller who owns Dow wanted to know whether it will increase its dividend.
Cramer said that under normal circumstances he'd be shocked if Dow didn't increase its dividend. But as a caveat, he added that this quarter's results were "uniquely traumatized" by high natural gas prices, so the board may hold off on upping the dividend. He also said that if the stock falls below $30 he would look at that move as an opportunity to buy.
Cramer's next stock in this ignored and unloved group was
, a company that he said has plants all over the world.
But at the end of the day, half of its employees are in the U.S. and its products are excellent.
was No. 6 on his list. He said that if Europe didn't heavily subsidize its main competitor
, Boeing would have 100% of the market share.
This is the one member of the big 10 not tied to the world economic cycle, Cramer said, because the aerospace cycle is a separate thing. But at the end of the aerospace cycle in three and a half years, he warned, the stock will likely not be on fire.
He added that chief executive James McNerney Jr. has helped to soothe the turmoil in the company that existed before he took the reigns.
Cramer also likes
, a company he called the biggest steel producer in America.
He said the company did $11.3 billion in sales in 2004, and was the biggest recycler in the country, recycling 17 million tons of scrap steel.
And he said that the company is union-free and in a sector that should consolidate, two more positive things for the stock.
Cramer also chose
, a company with seven totally distinct businesses and one unified research unit.
Among the company's many brands, Cramer named Carrier for air conditioning, Hamilton Sundstrand for aerospace systems used by the military, the elevator maker Otis, and Sikorsky, a helicopter maker.
He said that the company is also leveraged to the aerospace cycle, so it could perform well over the next few years despite economic cycles.
And he also listed
He said that the company makes support equipment for mining and construction and that its products are complicated enough that they can sell to Brazil, Russia, India and China.
This is a stock to have when the economy is heating up, he said, but one to stay away from when the economy is cooling down.
Cramer's final U.S. manufacturing pick was
Go right ahead and say it's a Japanese company, but it's an American manufacturer, he said.
He believes that the company will have 100,000 employees in the U.S. over the next few years as long as it doesn't change its strategy and start making cars in China.
Toyota likes to build where its markets are, he said. Cramer pointed out that it has its main operations in California because that's where its biggest U.S. car market is, and that it's opening a pick up a manufacturing plant in Texas to keep up with demand.
This company has cultivated goodwill and brand loyalty by making great cars for 30 years, he said, a claim that no U.S. automaker can make.
Cramer said that these companies will keep the U.S. afloat and bring us back to being one of the world's premiere industrial nations. And if the timing is right, they could also make a lot of money, he added.
But at no time should you even own all 10 of these companies, because there's not enough time to own them all, keep track of them all and still be diversified, he warned.
"This is a shopping list, not the 10 Commandments," Cramer said. This is a list designed to help viewers know which companies are best of breed, he said, but people should still stay away from them when the story is going wrong.
Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by
At the time of original publication, Cramer was long Boeing, Foster Wheeler and Halliburton. As of June 28, he was long Foster Wheeler, Halliburton and United Technologies.
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