Jim Cramer's Mad Money In-Depth Stock Picks, Oct. 2

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Monday October 2. Click on a stock ticker for more analysis:

Monday's Mad Money program was a re-broadcast of a show which first aired on October 13, 2005.

A Day of Atonement: Cedant (CD), Dick's Sporting Goods (DKS) DKS, Montpelier Re (MRH), Commercial Bancorp (CBH), Annaly Mortgage (NLY)

Cramer called his show a "day of Atonement" and discussed his investment mistakes with tips on how to avoid similar mishaps in the future. His first tip was to be disciplined, and he recalled picking up Cendant (CD) in spite of warnings of accounting irregularities, and he lost $17 million on the stock. "When you see any accounting irregularities, you sell," he said. Not only that, but stay clear "until it's well over with." More recently, Cramer erred in recommending Dick's Sporting Goods (DKS) which got hammered after it reported bad numbers. He said that his biggest mistake was trusting the management too much and not paying enough attention to what happened with its Galyan's acquisition. "When you're playing with retail be skeptical, more skeptical than I was," he said. Cramer warns against betting against Mother Nature, as he did with Montpelier Re (MRH) when he traded contrary to Hurricane Katrina anxiety or against the Federal Reserve as he did by holding on to Commerce Bancorp (CBH) and Annaly Mortgage (NLY) even though the Fed was raising interest rates. Cramer stressed the importance of doing homework on stocks by reading conference calls, the company's website and financial statements.

More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.

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