Jim Cramer's Mad Money In-Depth Stock Picks, Dec. 4

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Monday December 4. Click on a stock ticker for more analysis:

Championship Final: Under Armour (UARM) and Nike (NKE)

Although Cramer was not always behind UARM in the past, now he says "it is a buy to the ninth power" because UARM is successfully finding niche markets, like football cleets and thermal underwear for skiers, and conquering them one by one, waging a "guerilla war" with Nike, Reebok and Adidas . Although Nike is "trying to keep Under Armour down ... Nike can do nothing but lose market share because the Under Armour brand is too powerful," says Cramer who doesn't think that UARM will run out of niche markets anytime soon. Although Morgan Stanley says that retail stocks are in a bubble, Cramer would not be deterred from buying UARM because "the bottom line is it should get a lot more overvalued before it dips."

Related: On his November 16th Mad Money show, Cramer liked both Nike and Under Armour, but for different reasons.

Playing it Safe: Emerson Electric (EMR)

Cramer commented that last week's market was "brutal" and no one is really sure if the selloff is over. He recommends a safe, dividend-boosting stock like Emerson, which he believes will grow 15% and notes that it reported a great number and is a "steal" at 15 times next year's earnings. Emerson is selling lower than it was before the increase in its dividend yield which is currently at 2.5%, and given that short-term bond rates have risen, investors who would have purchased bonds will flock to Emerson, according to Cramer.

Man Overboard! Pirate Capital, James River Coal (JRCC) and Pep Boys (PBY)

Cramer thinks it is a good idea to "jump off the ship" if Pirate Capital invests in a certain stock, since the hedge fund uses the "activision" strategy of picking up a 5% stake in a company and applying pressure on the management. Imitating hedge funds is no replacement for homework and common sense, according to Cramer, and in any case, Pirate has had a bad history with Pep Boys (PBY) and James River Coal (JRCC). Cramer waves the "giant sell" flag at Pirate Capital, and adds that "historically, pirates aren't great investors."

CEO Interview: Kevin Rauckman, Garmin (GRMN)

Commenting on the company's downward guidance, Kevin Rauckman said, "The only disappointment we've seen this year is in the aviation segment, which is flat. But going into the holiday season, we actually raised guidance to $1.68 billion of revenue, given the strength of the automotive segment." He added that personal-navigation device technology will give Garmin a good fourth-quarter and that volume increase coupled with lower pricing is a "win-win scenario" for the whole sector. Cramer gave Garmin one thumb up and not two because he hasn't seen the company's number yet.

Related: Will Gabrielski gives the short case on Garmin.

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