Jim Cramer's Mad Money In-Depth Stock Picks, Aug. 30

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Wednesday August 30. Click on a stock ticker for more analysis:

Wednesday's show was a re-broadcast of a "Mad Money" program which first aired on April 14.

Sin is In

Cramer says that "sin" stocks are hot, and that it does not help to be "holier than thou" when investing. "Every single investor has this ethics money riding on his back," he said, but it is best to heed the cardinal rule of the market, which is to make money.

Cheers!: Diageo (DEO), Constellation Brands (STZ), and Anheuser-Busch (BUD)

Cramer raises a toast to DEO, which is his top pick among alcohol stocks, because of the company's clever marketing strategy of designing a Johnnie Walker Scotch for every income level. DEO also produces Tanqueray, Smirnoff and Guinness; "These are all terrific brands with great name recognition," said Cramer. "For wine and the hard stuff, it's Diageo." Cramer also likes STZ because of its 12% cash flow growth and great brands, including Montezuma tequila, Fleischmann's spirits, and Corona beer. Although BUD is popular, commanding half of the U.S. beer market, Cramer would not buy it because there is little growth potential.

Lighing up: Altria (MO), Reynolds American (RAI), UST

Altria receives a top ranking from Cramer, because it owns the Marlboro brand, which has an international following, and pays excellent dividends. He says that while RAI is also good, Altria sells more cigarettes. Cramer also likes UST, a leading snuff tobacco producer, and while there are rumors that MO and RAI want to get into the snuff game, they will probably do so by acquiring UST rather than starting their own snuff businesses.

Fire Away: Smith and Wesson (SWB), Alliant Techsystems (ATK)

Although there aren't many pure plays on guns, Cramer likes SWB, because it is expanding from producing mostly handguns to designing military weapons. Another pick is ATK, which makes all of the bullets for the M-16.

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