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Jim Cramer is the host of CNBC's "Mad Money" show and the chairman of TheStreet.com. Cramer graduated from Harvard College with a B.A. degree and received his J.D. degree from Harvard Law School.

He started as a stock broker with Goldman Sachs' Private Wealth Management in 1984. In 1987 Cramer started his own hedge fund and returned an average of 24% per year between 1987 and 2001. Cramer also authored six money management books.

According to his article in The Street, Jim Cramer expected Dow to hit 13,365 in 2011 and he stated his favorite 10 stocks for 2011. Jim Cramer’s favorite 10 stocks have gained 10.2% since the end of 2010, vs. a 5.9% gain for the S&P 500 (NYSEARCA:SPY). Eight of Cramer’s top 10 stocks managed to beat the market. Here are the brief analyses and first quarter performances of his favorite stocks.

1. Alcoa (NYSE:AA): In fiscal 2010, AA reported total revenue of $21 billion, an increase of 14.1% compared with a year ago. Annual net income was $254 million in fiscal 2010. AA recently traded at $17.66 and has a 0.68% dividend yield. AA gained 15% during the past three months. The stock has a market cap of $18.8 billion and P/E ratio of 69.9.

2. Bank of America (NYSE:BAC): In FY 2010 BAC reported total revenue of $134 billion, a decrease of 10.7% compared with a year ago. Annual net income was -$2.2 billion. BAC recently traded at $13.33 and has a 0.3% dividend yield. BAC price did not change during the past three months. The stock has a market cap of $135 billion. BAC is one of the 40 stocks analysts are insanely bullish about. Fairholme’s Berkowitz added nearly 22 million shares of Bank of America during the fourth quarter of 2010. Lee Ainslie’s Maverick, David Tepper’s Appaloosa, and John Paulson’s Paulson & Co are among other hedge funds with Bank of America investments.

3. Boeing (NYSE:BA): In fiscal 2010, BA reported total revenue of $64.3 billion a decrease of 5.9% compared with a year ago. Annual net income was $3.3 billion in fiscal 2010. BA recently traded at $73.93 and has a 2.27% dividend yield. BA gained 13.9% during the past three months. The stock has a market cap of $54.5 billion and P/E ratio of 16.6. Jim Simons’ Medallion Fund had $169 million worth of BA shares as the end of 2010.

4. Caterpillar (NYSE:CAT): In FY 2010 CAT reported total revenue of $42.6 billion, an increase of 31.5% compared with a year ago. Annual net income was $2.7 billion. CAT recently traded at $111.35 and has a 1.58% dividend yield. CAT gained 19.4% during the past three months. The stock has a market cap of $71.1 billion and P/E ratio of 27.3.

5. Chevron (NYSE:CVX): In FY 2010 CVX reported total revenue of $205 billion, an increase of 19.2% compared with a year ago. Annual net income was $19 billion in fiscal 2010. CVX recently traded at $107.49 and has a 2.68% dividend yield. CVX gained 18.7% during the past three months. The stock has a market cap of $216 billion and P/E ratio of 11.4. Steve Cohen had a very small position in CVX at the end of 2010. Ken Fisher had a $47 Million position in Chevron.

6. Coca-Cola (NYSE:KO): In FY 2010 KO reported total revenue of $35.1 billion, an increase of 13.2% compared with a year ago. Annual net income was $11.8 billion in FY 2010. KO recently traded at $66.34 and has a 2.83% dividend yield. KO gained 1.6% during the past three months. The stock has a market cap of $152.3 billion and P/E ratio of 13.3. Warren Buffett had $13.2 billion invested in KO shares as the end of 2010. Jim Simons’ Medallion Fund is another investor of Coca-Cola.

7. Home Depot (NYSE:HD): In FY 2010 HD reported total revenue of $68 billion, an increase of 2.7% compared with a year ago. Annual net income was $3.34 billion. HD recently traded at $37.06 and has a 2.7% dividend yield. HD gained 6.4% during the past three months. The stock has a market cap of $60.1 billion and P/E ratio of 18.7. Tom Steyer’s Farallon Capital Management started to reduce its HD shares during the last quarter of 2010. Tom Steyer had $63 million invested in HD shares.

8. JPMorgan Chase (NYSE:JPM): In FY 2010 JPM reported total revenue of $115.4 billion, a decrease of 0.2% compared with a year ago. Annual net income was $17.4 billion in FY 2010. JPM recently traded at $46.1 and has a 2.17% dividend yield. JPM gained 8.8% during the past three months. The stock has a market cap of $184 billion and P/E ratio of 11.7. Hedge funds, 164 of them, own 4% of JPM’s outstanding shares. During the fourth quarter, they spent $1.8 Billion to place their bullish bets. Steven Mandel, John Griffin, Bill Miller, and Lee Ainslie are among the high profile hedge fund managers invested in JPM.

9. 3M (NYSE:MMM): In FY 2010 MMM reported total revenue of $26.6 billion, an increase of 15.2% compared with a year ago. Annual net income was $4.08 billion in FY 2010. MMM recently traded at $93.5 and has a 2.35% dividend yield. MMM gained 9% during the past three months. The stock has a market cap of $66.6 billion and P/E ratio of 16.5. Billionaire Leon Copperman had $99 million in MMM shares at the end of 2010.

10. Verizon (NYSE:VZ): In FY 2010 VZ reported total revenue of $106.6 billion, a decrease of 1.1% compared with a year ago. Annual net income was $2.55 billion in fiscal 2010. VZ recently traded at $38.54 and has a 5.06% dividend yield. VZ gained 9.1% during the past three months. The stock has a market cap of $108 billion and P/E ratio of 42.7. During the last quarter of 2010, Fairholme’s Berkowitz spent $265 million to buy VZ shares.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.