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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Thursday August 6.

Citigroup (NYSE:C)

Why would investors want to buy stock of a bank that represents national economic woes, and of which 34% is owned by taxpayers? Cramer thinks Citigroup is not just a buy for the individual investor, but is a buy for America. However, the reasons go beyond patriotism and may involve huge profits. Cramer gave 5 reasons to buy this underdog bank:

1. It is cheap. Very cheap. While some argue that it is not possible to figure out how much Citigroup is actually worth, Cramer thinks the book value is about $4 per share and thinks the stock should sell at 1.5 book value for a $6 price target.

2. On September 10, the government can sell its 34% stake in Citigroup. The government has already made $5 billion on its position, and could have a $20 billion windfall from the sale.

3. Citigroup is the dominant bank in 108 countries. In spite of its domestic woes, Citigroup is still the leader in emerging markets.

4.Citigroup is spinning off bad loans by dividing itself into Citigroup proper and Citigroup Holdings. This leaves the main bank with three profitable businesses; retail banking, global services and investment banking.

5. Solid management. Cramer says the government would be crazy to replace CEOs Vikram Pandit and Ned Kelly.

Cramer called Citigroup "the ultimate call on economic growth worldwide."

Embotelladora Andina (NYSE:AKO.B)

Cramer urged investors to look overseas for great investments, and given the current domestic slump, 20% of investors' portfolios should be comprised of foreign plays. Andina is a bottler of soft drinks, tea, water and juices and is Pepsi's 7th largest bottler. The company has a near monopoly in several countries; 67% market share in Chile, 51% in Argentina and 57% in Brazil. Embotelladora will benefit from the booming population as well as the growing GDP in Latin America, and passes on its profits to shareholders with a 6% dividend. Cramer warned viewers that this beverage stock is not very liquid in the U.S. and trades at low volumes, so he would do more homework, buy in small increments and use limit orders when buying.

Sell Block: Accounting Problems at an Accounting Firm: Huron Consulting (NASDAQ:HURN), FTI Consulting (NYSE:FCN), Duff & Phelps (NYSE:DUF)

Huron Consulting is the center of a serious and highly ironic investigation; this accounting firm apparently has some accounting irregularities, and the stock is already down 67% since last week. Perhaps it is no coincidence that the executives involved were also associated with the Enron scandal. Cramer thinks Huron's reputation is probably ruined, but sees an investment opportunity in other accounting firms which were punished along with Huron. FTI Consulting and Duff & Phelps. FTI has fallen 15% since the advent of Huron's problems and Cramer prefers it to Duff, although he thinks either may be worth buying.

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Source: Cramer's Mad Money - Why Citigroup Is a Buy (8/6/09)