Mining for Brazilian Best of Breed

"Brazil has high growth, decent inflation and is nirvana when it comes to the economy," Cramer told viewers.

Therefore, it's time to find the best of breed in Brazil, he said.

Apart from Brazilian supermodel Gisele Bundchen, Cramer said he also likes Brazilian stock Companhia Vale do Rio Doce ( RIO) (CVRD), which just bought Canadian mining company Inco ( N).

People "really hated" the Inco acquisition because they thought CVRD was paying too much for it, said Cramer, but he believes market players should be "celebrating" this deal.

Plus, CVRD's estimates for next year are "way too low," he said.

Right now there are two mineral companies that portfolio managers own: BHP Billiton ( BHP) or Rio Tinto ( RTP).

"But the odds are about to change," Cramer said. "RIO CVRD is going to be the new pick and is about to become a core holding."

It's going to be anointed by the Street, and when that happens, CVRD is going to double, "because just like hips, earnings don't lie," he said. "It's time to end the Brazilian discount."

However, people still have time to get into CVRD, Cramer said. There is still a month, or maybe two, before people on the Street anoint the stock, he said.

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