Cramer's Kevlar Portfolio

Back in November, when the market was looking particularly bleak, Cramer created a portfolio of stocks he thought could withstand the pain and still go higher. He called these his Kevlar, or "bulletproof," picks because even when they took a hit, they got back up again. On Monday's Mad Money, he revisited the five companies to prove they are the kinds of plays you want when the economic picture is uncertain.

Cramer picked Altria before it spun off Philip Morris International, and now the two stocks are up over 4%. MO's nice yield gives it economic protection, and PM is benefiting big time from the weak dollar.

Freeport-McMoRan, the mining behemoth, is up over 11% since being named a Kevlar stock. The story with FCX is simple, Cramer said. There's a global shortage of copper, and this is the company that has it. If the U.S. housing market recovers, he expects this stock to go through the roof.

Foster Wheeler is up less than 3%, but it's still Cramer's favorite infrastructure stock, as its largely international and is levered to high energy costs. He's still a buyer.

Transocean, the world's largest deepwater driller, is the biggest Kevlar winner – up 27% since Cramer put it in the portfolio. Thanks to its earnings visibility, RIG doesn't have to worry about the short-term vicissitudes of the economy. Exploration in Brazil alone assures RIG's orders through 2015.

MedcoHealth Solutions , the only traditional defensive stock in the Kevlar portfolio, is also the only one to do nothing. The stock has not made any gains since Cramer picked it, mostly because MHS has been hit with raw costs. Also, Medco's earnings visibility slows after 2012, which is when lots of drugs come off patent. Cramer's hesitant to keep it in the portfolio, but it's down short-term so he'd wait for a rally to sell.

Cramer's Kevlar portfolio is up 9% since he created it compared to the S&P 500, which is down over 3%. Some of the stocks got knocked down, but they recovered thanks to their long-term themes. With the potential exception of Medco, he thinks they'll continue to work.

Jim's charitable trust owns Altria, Freeport-McMoRan and Foster Wheeler.

Questions for Cramer?

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