Slim Pickin's

Professor Cramer is big on doing homework – you know that. But he's also OK with following the big money here and there. The fact is, everybody likes to follow the money. Investors will go out of their way to imitate Bill Gates or move lock step with Warren Buffett – and Cramer is just fine with that. We all want people we can copy, so it might as well be the richest guys in the world. But people tend to ignore someone who Cramer thinks is the single greatest model of investing there is – a guy who made his name by buying stocks and who has now displaced Buffett as number two on the Forbes list. If you're going to piggyback off a winner, Cramer says, Carlos Slim is your man.

Slim is a Mexican businessman who has his hand mostly in the Latin American telecommunications industry. According to Forbes, he's worth more than $53 billion. And while Warren Buffett made his money by being a great businessman, Slim got rich by being a great stock picker.

So go ahead and follow Carlos Slim's stock picks, just make sure you do your own homework, or else that would just be sloppy and lazy investing, and Cramer is no advocate of that. But for your convenience, Cramer has picked out what he thinks is Slim's best stock – that is, the number one stock in the portfolio of the number two richest man on earth. Cramer's Carlos Slim pick is America Movil , the premier wireless phone play in Latin America. Now, Cramer didn't want this company to be his takeaway from Slim's outstanding portfolio because Slim happens to be the chairman of the company. But AMX is just too good not to spotlight, Cramer says. The growth of the mobile phone service in Latin America has been one of the best stories around for the past few years, and Cramer believes America Movil is the heart and soul of it.

AMX has a stranglehold on the Mexican wireless market with about 80% market share. Not bad. And the company has been making acquisitions like crazy – first they bought Puerto Rico Telephone, then they went after Verizon Dominicana, the biggest telecom provider in the Dominican Republic, and now they're working on picking up Telecom Italia's Latin American properties. Cramer's favorite among Telecom Italia's subsidiaries is TIM, a big Brazilian wireless provider. If Carlos Slim's America Movil can make the deal, it'll become the largest wireless company in Brazil –a country where rates keep coming down and things are looking good, Cramer says. Even though Brazil's appetite for wireless might be waning, the more exposure AMX can get the better, as it would give the company better pricing power in a great market.

Bottom line: It's OK to be a copycat, as long as you're copying the best investor with the best stock (and you do your own homework) - Cramer thinks that's Carlos Slim with America Movil.

Questions? Comments?