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Investing in Latin America has been a recurring theme on Jim Cramer's "Mad Money" due to the strong economic conditions there. Cramer's latest idea on how to capitalize is through Chile he told viewers Tuesday. Chile is especially attractive, he said, because of the nation's 4% budget surplus, which is bullish for business.

One way to invest in Chile would be to buy shares in The Chile Fund. But, Cramer is leery of the fund because one of its largest holdings is Embotelladora Andina ( AKO.A), a Coke bottler. "You should never own" a bottler, said Cramer. The fund also owns Compania Cervecerias Unidas ( CU), another beverage company, which Cramer doesn't like.

Instead of buying the fund, Cramer recommends buying the fund's best stocks: Enersis ( ENI), Vina Concha y Toro ( VCO) and Sociedad Quimica y Minera ( SQM). These are the "creme de la creme" of Chilean stocks, he said.

Enersis is an electric utility company that is growing along with the demand for power in Chile. "I would buy this one," said Cramer.

Vina Concha y Toro is a producer of "good wine from Chile at a nice price point," he said.

Sociedad Quimica y Minera owns the world's largest lithium mine, the key ingredient in lithium batteries. The stock is in 'mon back* territory, said Cramer.

As a way to play Chile through an American company, Cramer said Colgate-Palmolive ( CL) is the biggest brand name in Latin America. He believes Colgate is a buy, and below $50, it warrants a 'mon back. Colgate's shares closed Tuesday at $53.53.

Best Asbestos Bets

Now that Georgia-Pacific ( GP) has agreed to be bought out by Koch Industries, Cramer believes Crown Holdings ( CCK) and Albany International ( AIN) may be the next big industrial takeover targets.

The main thing Crown and Albany have in common with Georgia-Pacific, said Cramer, is both companies have asbestos issues that are under control and almost behind them.

Georgia-Pacific was cheap because of asbestos, said Cramer, and even though the company had put its asbestos issues behind it, the market didn't respond. So, Koch did, he said, and Koch was able to pay a huge premium because that's what Georgia-Pacific was worth.

Cramer believes similar stories could play out with Crown and Albany. Either the market will reward these stocks for getting their asbestos issues behind them, he said, or they'll get bought out.

However, companies with asbestos issues that are not out of the woods, yet, said Cramer, are USG ( USG), RPM ( RPM) and Owens-Illinois ( OI). So, don't buy these stocks in the hopes they could be the next Georgia-Pacific.

Cemex Gets Set

Cramer is bullish on Mexican cement maker Cemex ( CX) because he believes the current 55% tariff on Mexican cement is about to be suspended. A number of states are experiencing shortages of cement, said Cramer, and an editorial in The Wall Street Journal argued the Mexican cement tariff should be removed.

The Commerce Department has the authority to suspend the tariff, said Cramer, and he believes it will do so. The reason, Cramer said, is the president, who with such low approval ratings right now, will cave to pressure from the Journal lest he risk losing one of the last places from which he still enjoys strong support.

Stump Cramer

In a segment called "Stump Cramer," viewers called in to ask about stocks they hoped Cramer wouldn't know. Cramer was stumped by Enterprise Products Partners ( EPD), Illumina ( ILMN), Pain Therapeutics ( PTIE), Mattson Technology ( MTSN) and MDU Resources Group ( MDU).

Cramer was not stumped by Ballard Power Systems ( BLDP). "I know it enough to give it a thumbs down," he said.

He also wasn't stumped by Salix Pharmaceuticals ( SLXP), a "not great drug company," he said. "Don't touch that one."

Lightning Round


Cramer was bullish on Home Depot ( HD), Whole Foods Market ( WFMI), UnumProvident ( UNM), Prudential Financial ( PRU), MetLife ( MET), Google ( GOOG), Kyphon ( KYPH), Polaris Industries ( PII), Microsoft ( MSFT), Dow Chemical ( DOW), Halliburton ( HAL), Aflac ( AFL), Walt Disney ( DIS), Viacom ( VIA), NutriSystem ( NTRI), Best Buy ( BBY) and Apple Computer ( AAPL).


Cramer was bearish on ev3 ( EVVV), deCODE Genetics ( DCGN), Rite Aid ( RAD), Syntroleum ( SYNM), Albertson's ( ABS), Arctic Cat ( ACAT), Compuware ( CPWR), KFx ( KFX) and NL Industries ( NL).

*For all you home-gamers, a 'mon-back opportunity means Cramer would back up the figurative truck and load up on a stock.

Here's your chance to pick the stock you'd like me to feature on my radio show Nov. 17:
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REMEMBER to listen in on Thursday for my take on the stock that wins this poll!
At the time of publication, Cramer was long Halliburton.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on Mad Money are his own and do not reflect the opinions of or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.

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