Jim Cramer's Mad Money In-Depth, 12/5/07: Hudson City Limits

Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Wednesday December 5. Click on a stock ticker for more analysis:

Freeport-McMoRan (FCX)

With rising global demand for raw materials, the mining sector will be on fire for the long-term, and Cramer's favorite pick is FCX. Demand for copper is increasing, supplies dwindle, and since FCX is a leader in copper mining, it should be the chief beneficiary. In addition, FCX has an "unbelievably great" buyback. While there is a lot of consolidation in the sector, Cramer says FCX is doing fine on its own.

Hudson City Bancorp (HBCK), Wells Fargo (WFC)

While Cramer feels confident there will be a rate cut and recommends owning a bank stock, he cautions investors to look for a more stable financial in case the Fed surprises him. Cramer praised HBCK's common sense business model: "It takes deposits; it lends to good, hard-working people who then pay the loans back." HBCK is careful about choosing its borrowers, has fewer non-performing loans than relatively stable bank WFC and is rewarded with loyal customers because it doesn't slap on outrageous fees.

CEO Interview: Donald Wood, Federal Realty Investment Trust (FRT)

Donald Wood said the crisis in consumer confidence is mainly hitting certain parts of the country and FRT, which deals with shopping center real estate, has made the decision to concentrate on higher income areas with larger populations; "We leave other parts of the country alone," he said. "There is no hedge, in my view, in real estate like great locations." Cramer recommended sticking with FRT.

Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightning Round, Stop Trading and his Wall Street Confidential Picks.

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

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