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Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Monday November 16.

The Best Central Banker: Procter&Gamble (NYSE:PG), Merck (NYSE:MRK), Kimberly-Clark (NYSE:KMB), McDonald's (NYSE:MCD), Caterpillar (NYSE:CAT), Emerson Electric (NYSE:EMR), 3M (NYSE:MMM), Union Pacific (NYSE:UNP), Visa (NYSE:V), Con Edison (NYSE:ED), Altria (NYSE:MO), Bristol Myers Squibb (NYSE:BMY), Kinder Morgan Energy Partners (NYSE:KMP), Conco Phillips (NYSE:COP)

Cramer's cries that Federal Reserve Chairman Ben Bernanke "Knows nothing" are consigned to history; a few years on, the Mad Money host declares Ben Bernanke " the best central banker we could ever ask for." While bears feared Bernanke would talk about bubbles caused by low interest rates or sound too bullish, the Fed Chairman hit an optimal balance between hope and caution. Bernanke knows that the economy isn't ready yet for higher interest rates, and jobs need to be created first.

After Bernanke's speech, Cramer said investors can "buy just about anything," given the strength of defensive stocks as well as recovery plays. Procter&Gamble (PG), Merck (MRK), Kimberly-Clark (KMB), McDonald's (MCD), made the new high list, but so did some tech stocks, while oil and banks rallied. Recovery stocks, Caterpillar (CAT), Emerson Electric (EMR), 3M (MMM), Union Pacific (UNP), Visa (V) are performing well, and Cramer also recommends dividend stocks Con Edison (ED), Altria (MO), Bristol Myers Squibb (BMY), Kinder Morgan Energy Partners (KMP), ConcoPhillps (COP).

Going forward, Cramer's investment strategy is to buy stocks ahead of Ben Bernanke's speeches; “As you sure should have last Friday,” Cramer said, “and as you most likely will in the future.”

New IPO: Cloud Peak Energy (NYSE:CLD) with Rio Tinto (RTP), Arch Coal (NYSE:ACI), Alpha Natural Resources (NYSE:ANR), Peabody (NYSE:BTU)

Cramer thinks Cloud Peak Energy could "quickly become the premium coal company in this country," and parent company Rio Tinto (RTP) is only spinning off the company as a last-ditch measure to deal with its substantial debt. While rivals Arch Coal (ACI), Alpha Natural Resources (ANR) and Peabody (BTU) trade at multiples of 20, Cloud Peak, which will trade under the symbol CLD, has a mutliple of 7. Cloud Peak, the third largest coal producer in the country, will be trading at a mere $16-18, a level Cramer thinks is too cheap given the company's fundamentals and Warren Buffett's purchase of Burlington Northern, which is bullish for coal.

CEO Interview: Noah Gottdiener, Duff & Phelps (NYSE:DUF)

Duff&Phelps (DUF) is the antidote to the Bernie Madoffs of this world; the company's services are in demand now that funds want to prove that they are clean and legitimate. Duff&Phelps acts as a third party that oversees valuation of assets. Not only does Duff&Phelps raise the moral tone of the financial sector, but the company is poised to see "major, multi-year earnings gains."

Gottdiener said transparency is something many firms are looking for, and they depend on Duff&Phelps because of the company's expertise and reputation. The company audited TARP securities for the government and often is involved in bankruptcy proceedings.

Cramer thinks Duff&Philips is in a good position, is too cheap and is a buy.

CEO Interview: Peyton Patterson, New Alliance Bancshares (NYSE:NAL)

Sometimes history repeating itself is a good thing, or at least it could be for New Alliance Bancshares (NAL). In the wake of the Savings and Loan crisis in the early 90s, Fleet Bank arose from a regional Rhode Island bank to the New England's leading financial institution. The FDIC sold failing banks to stronger firms like Fleet; investors reaped a 500% profit when Bank of America bought Fleet. With its low delinquency rate, small number of nonperforming loans and large capital reserves, New Haven Connecticut's New Alliance Bancshares might just become the next Fleet; Cramer is concerned, however, that the bank hasn't been making many acquisitions.

CEO Peyton Patterson says the bank has $400 million to $500 million available for acquisitions and is looking for good opportunities. Meanwhile the bank's core revenues are growing at a rate of 13%. She said the bank had the foresight to limit lending before the housing bubble popped, and New Alliance has always had the policy of getting to know their borrowers and setting high standards for them to follow. Cramer would buy some New Alliance Bancshares ahead of its acquisitions.

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Source: Cramer's Mad Money - You Can Buy Pretty Much Everything (11/16/09)