Cramer's 'Mad Money' Recap: Three Stocks With Global Heft

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While Brazil, Russia, India and China (BRIC) are still in their prime, it's time to retire the investing strategy, Jim Cramer told viewers of his "Mad Money" TV show Wednesday.

Market players still need to have foreign exposure, but "BRIC just doesn't cut it anymore," he said. The rest of the world, or ROW, as Cramer calls it, is better than BRIC.

For a while BRIC was "it" because two things happened, he said. First, the U.S. government "betrayed its rapacious capital principles," hiking short-term interest rates several times. And second, "housing fell off a cliff," Cramer said.

These factors made for an ailing U.S. economy but made BRIC look hot, he said. However, as "investors ran into the arms of BRIC," it was not able to contain the heat. As a result, growth started sprouting up in ROW, Cramer explained.

"I've scoured the country for industrial stocks that get close to half of their sales from ROW" and come up with three stocks that "could serve as paradigms that people should want to own now," he said. These are the stocks Cramer believes are no longer "held hostage by the U.S. economy."

Catch Caterpillar

Cramer's No. 3 ROW pick, he said, is Caterpillar (CAT Quote), an "all-American company" that gets 48% of its sales from the rest of the world. In addition, more than half of Caterpillar's manufacturing plants are in the ROW, too, Cramer said.

"It is cyclical, but not totally levered to the U.S.," he said. "It is the year people will recognize that Caterpillar is more than a housing play."

"The U.S. is just not where the action is," Cramer continued. "The whole world is growing ... and leaving the U.S. behind."

That's why a company like Caterpillar is worth "snagging a piece of," he said.