Jim Cramer's Real Money Radio Recap, Nov 1

Recap of Jim Cramer's radio show on Wednesday November 1. Click on a stock ticker for more analysis:

Cedant Conviction - Cramer feels vindicated that Walter Forbes, ex-CEO of now-defunct Cedant, was convicted of a "conspiracy so large that I still can't believe it was pulled off," and Cramer lamented that Forbes "ripped out $18 million from me and my partners in one brief moment." Before CU International and HFS merged to form Cedant, Forbes gave Cramer a rosy picture of the company's revenues and growth which was comprised of "lies." Cramer notes that if Forbes confessed in 1998, he wouldn't have gone to jail, "that's how loose regulators were then," but he is gratified to note that Forbes "will go away for a long time."

MasterCard (MA), SAIC (SAI) and Vonage (VG) - "We are overbought in this market after back-to-back great months," said Cramer who comments that stocks should be lower right now, in part because of inflation worries and concerns about a Democratic sweep. However, the main reason for the low prices is the "relentless amount of money coming in from the public and a relentless number of stocks coming out because of buybacks and tremendous takeovers," he said. Cramer observes that the media portrays the consumer as unwilling to spend when Mastercard's quarter shows that "the consumer is alive and kicking." Cramer believes that MA's IPO was underpriced, is only going to increase and that investors should look out for lackluster IPOs like MA and SAIC which have a lot of potential. However, Vonage, like dot.com era stocks, went up "fast but profitlessly," notes Cramer, who added that VG reported a "terrible" quarter and was amazed that the media characterized the loss as less than expected. He quipped that at least Vonage accomplished its goal of getting "as much money as possible from the public."

Related: Mastercard's net income increased 82% in its first full quarter.

Bullish calls:

Peabody Energy (BTU): Cramer would buy this stock, and comments, "There will come a time when we run out of oil in this country." If BTU goes lower because of the upcoming election, he suggests picking it up.
UAL (UAUA): Cramer says this stock has more upside, but told a caller who had gained 15% to take some profit.
ABB (ABB): This company is not finished going up, according to Cramer, although those with substantial gain should take a bit off the table.
Caterpillar (CAT): Some are bearish on CAT because it is tied to housing and there is negativity concerning its trucking business. However, Cramer believes that housing will not be so terrible and that CAT "represents value."

Neutral/Bearish calls:

CVS (CVS) and Caremark (CMX): Cramer says this merger was a "mistake" and adds, "I like the high growth CVS gives us, but I don't like the slower growth Caremark gives us."
Sprint Nextel (S): Cramer does not like this stock's fundamentals and although S could be taken over, he warns that it is not worth the risk.

Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.

Get Cramer's Picks by email -- it's free and takes only a few seconds to sign up.

Seeking Alpha is not affiliated with CNBC, Jim Cramer or TheStreet.com