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) -- The bulls are the smartest and boldest investors out there, Jim Cramer told his

Mad Money

 viewers Monday. Then why do so few Americans own stocks, especially after the market's spectacular multi-year run? Cramer offered up his top five bearish reasons.

First was the constant Federal Reserve chatter. Surely with U.S. employment strengthening the Fed must be raising interest rates soon, right? No so, said Cramer. It wouldn't make any sense to raise our rates when the rest of the world is faltering.

But isn't the market rigged given the flash crash, high frequency trading and the terrible Facebook (FB) - Get Facebook, Inc. Class A Report IPO? Cramer said for every Facebook, there's a GoPro (GPRO) - Get GoPro, Inc. Class A Report  -- and while high frequency trading acts as a tax on all investors, it doesn't preclude them from making money.

Cramer said the third bear case is the bull market is too old. But he also noted CEOs aren't standing idly by, they're actively making money for shareholders with mergers and investments, inversions and buybacks. Annie's (BNNY) is just the latest example, up 37% today on a bid from General Mills (GIS) - Get General Mills, Inc. (GIS) Report .

Fourth, Cramer said many market pundits simply fear being wrong, so they stay bearish. Why stick your neck out and risk being wrong, he added, no one ever criticizes being "cautious," even if it keeps investors from great gains.

Finally, Cramer said the bears simply don't do their homework. They mindlessly buy exchange-traded funds and index funds at the exact time they should be doing research and finding the next GoPro or Annie's.

The bulls are the smart ones in this market, Cramer concluded. Let's hope they stick around for a long time to come.

Dress Up Your Portfolio

It's time for investors to take a second look at the apparel stocks, Cramer told viewers. While some categories, like handbags, remain downright awful, others are starting to look up and the time to pounce is now.

Cramer said that Under Armour (UA) - Get Under Armour, Inc. Class C Report is one of those stocks -- this company doesn't trade with the apparel group, it trades with the high multiple stocks and those are once again in favor.

Cramer also took a cue from the conference calls of Kohl's (KSS) - Get Kohl's Corporation (KSS) ReportMacy's (M) - Get Macy's Inc Report and PVH Corp (PVH) - Get PVH Corp. Report to determine that inventories are low, and that's great news for a stock like VF Corp (VFC) - Get V.F. Corporation Report , which, like PVH, a stock Cramer owns for his charitable trust, Action Alerts PLUS, is also big into denim and has the added kicker of its North Face brand just in time for the colder weather.

Then there's footwear. Cramer said he's still a huge fan of both Sketchers (SKX) - Get Skechers U.S.A., Inc. Class A Report , up 89% so far in 2014, and Deckers Brands (DECK) - Get Deckers Outdoor Corporation Report , up just 14%.

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Whether its high tech, low inventories or new products, Cramer said the apparel group has something for everyone.

Cramer on Defense

With President Obama expected to outline a new, multi-year plan to combat ISIS in the Middle East, Cramer said it's clear that our military spending is about to increase, and that means taking another look at the defense stocks.

Cramer said he's bullish on Alliant Techsystems (ATK) , makers of everything from bullets to missiles. The company had a strong quarter and is merging its aerospace division with Orbital Sciences (ORB) as an added bonus.

Cramer was also bullish on Raytheon (RTN) - Get Raytheon Company Report , maker of high-tech defense hardware, including radar systems. Cramer said Raytheon has great financials, tons of free cash flow and a 2.5% dividend. The company also has a share buyback and trades at just 12.7 times earnings.

Finally, Cramer gave the nod to Lockheed Martin (LMT) - Get Lockheed Martin Corporation (LMT) Report , a terrific company which also has a great balance sheet, a 3% yield and a track record for rewarding shareholders.

Executive Decision: Jean-Jacques Bienaime

For his "Executive Decision" segment, Cramer sat down with Jean-Jacques Bienaime, CEO of BioMarin Pharmaceuticals (BMRN) - Get BioMarin Pharmaceutical Inc. Report , an orphan drug maker that's been lagging the markets.

Bienaime said that while BioMarin doesn't have any competition for any of the drugs it produces it is still very expensive to manufacture them, which is why the price tags for their treatments are so high.

When asked about their niche, Bienaime explained that BioMarin focuses on enzymes for patients with genetic disorders that prevent them from making their own. He said many of these disorders significantly reduce a patient's expected lifespan, which is why BioMarin's other specialty is helping doctors diagnose patients.

Finally, when asked why BioMarin sold its priority review voucher to Regeneron (REGN) - Get Regeneron Pharmaceuticals, Inc. Report for $67 million, Bienaime explained that since BioMarin is an orphan drug maker, their drugs already receive priority reviews. That meant that the voucher they received from the FDA in February was much more valuable to Regeneron.

Cramer said that BioMarin remains a terrific franchise.

Lightning Round

In the Lightning Round, Cramer was bullish on El Paso Pipeline Partners (EPB) , Immunogen (IMGN) - Get ImmunoGen, Inc. Report , Ensco International (ESV) , Cheniere Energy Partners (CQP) - Get Cheniere Energy Partners, L.P. Report , Kinder Morgan (KMI) - Get Kinder Morgan Inc (KMI) Report and Netflix (NFLX) - Get Netflix, Inc. (NFLX) Report .

Cramer was bearish on North Atlantic Drilling (NADL) , Cheniere Energy (LNG) - Get Cheniere Energy, Inc. Report , Windstream (WIN) - Get Windstream Holdings, Inc. Report , Himax Technologies (HIMX) - Get Himax Technologies, Inc. Sponsored ADR Report and Fuelcell Energy (FCEL) - Get FuelCell Energy, Inc. Report .

No Huddle Offense

In his "No Huddle Offense" segment, Cramer applauded the resignation of Mark Frissora, CEO of Hertz Global (HTZ) - Get Hertz Global Holdings, Inc. Report , who was added to Cramer's "Wall of Shame" list of the worst CEOs just last month.

Hertz shares immediately popped on the news as other investors also saw the resignation as an opportunity for Hertz to turn itself around and catch up to pretty much the entire industry, which has been booming while Frissora squandered opportunity after opportunity.

Cramer said Frissora was great at only one thing -- making excuses -- and Hertz will be far better served by his ouster.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

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-- Written by Scott Rutt in Washington, D.C.

To email Scott about this article, click here: Scott Rutt

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At the time of publication, Cramer's Action Alerts PLUS had a position in ESV, FB and KMI.