“Buy good stocks cheaply and avoid expensive ones, good or bad, and you will do well under either candidate,” said Jim Cramer.
That’s the Mad Money host's outlook on investing ahead of the election.
Now the Mad Money host isn't taking a political stance - he never would.
However, like 65 million Americans, Jim “watched the debate within the parlance of stocks, watched it with an eye toward making you money, tweeting every potential stock idea triggered by either gentleman."
How can you try to make money from the debate?
"Let me parse it for you, Jim said on Thursday's broadcast, going over the actual statements by each candidate and translating them into Cramerican.
“Watching the debate, you didn’t have to wait long for an actionable idea,” explained Cramer.
“Romney went right into a call for North American energy self-sufficiency, singling out coal as an endangered species under Obama.”
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However, Cramer doesn’t see a Romney win as a green light for all of the coal stocks; “Coal’s hostage to Chinese demand more than U.S. use,” he said.
However, he added, users of coal stand to benefit from a President Romney.
“I say Romney’s giving you a head’s up to buy American Electric Power and Southern Company , two big coal-burning utilities that would have to spend far less retrofitting facilities under a presumably weaker Romney-staffed EPA.”
Also Cramer added Union Pacific , the principal carrier of clean Powder River Basin Coal might be worth owning. Read More:"Jim Cramer's Favorite Stock for the New Quarter"
If you're looking for torque, Cramer suggesting looking at General Dynamics . Shares are depressed in part because of the company’s private jet unit, Gulfstream, with private jets currently under the Obama microscope.
A Romney win not only should relieve some of the private jet pressure, it should also benefit the defense unit. “Of course a belief that Romney wins would also be bullish for Northrop Grumman , Lockheed Martin and Exelis ,” Cramer said.
Then there’s oil.
“Schlumberger and National-OilWell Varco should get the most work and profits from expanded federal land drilling,” Cramer speculated.
And of course, no portfolio would be complete with financials.
“Romney talked about how Dodd-Frank imperiled community banks. While all banks went up on the potential of a Romney swing, I wouldn’t chance it, I would stick with Wells Fargo , viewed as a domestic bank or go with true community banks like Huntington Bank or US Bancorp or Key .”
And if you're looking for an under-the-radar idea, Cramer has it.
“If small business truly gets a boost from Romney Paychex stands to profit, a company whose growth is in the hands of small business expansion.”
Of course, Cramer had some short ideas too.
“Tesla relies on the kindness of the government, and that kindness will be over if the White House gets a new occupant. I'd buy Tessla November out of the money puts if you think this debate’s a real tide changer.”
Also, if you think Romney wins then there’s an increased chance that some government programs will receive less funding. Under that scenario, “I’d dump Family Dollar and Dollar General as they have expanded aggressively into food to capture food stamp dollars,” said Cramer.
Call Cramer: 1-800-743-CNBC
Questions for Cramer? madmoney@cnbc.com
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