'Mad Money' Recap: Back to School

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"Tonight I'm going to give you some of the best educational supplements," Jim Cramer told "Mad Money" viewers Friday in a show compiled of previously broadcast clips that Cramer felt would help educate people.

He said the segments would deal with leaderless markets, volatility and the difference between speculating and investing, all of which would be geared to making money.

"First I'll tell you how to deal with a leaderless market," he said.

The markets need generals, he explained, adding that the leaders of the last market run-up are all played out. "The generals are dead," Cramer said, and listed Cisco(CSCO Quote), Dell(DELL Quote), Microsoft(MSFT Quote), Intel(INTL Quote), Broadcom(BRCM Quote), Marvell Technology(MRVL Quote) and Google(GOOG Quote) as examples of previously hot stocks that are now lukewarm.

He also added General Motors (GM Quote) and Wal-Mart(WMT Quote) as two stocks that may have "lulled us into a false sense of security," but that didn't, in the end, have the right stuff to rescue the market from its latest slide.

"We're leaderless, headless and things will get volatile," he said. "It's because we've got no generals. They shot them all."

To beat the rudderless market, Cramer suggested that investors stand to benefit by buying stocks of commodity companies, as well as recession stocks. "But, he said "they can't go up at the same time. It's like a seesaw."

He recommended Clorox(CLX Quote) as a good investment in the current environment.

"We need a new general. A new secular growth story that we can depend on," he said. "In this situation where the general is dead, you need some recession stocks and some commodity stocks."

"Remember where ignorance reigns, cash be king," he said.

Volatility: A Love Story

In the next segment, he turned to volatility.

Volatility can be scary, it can make you feel like you understand nothing about the market, and it can make you feel like the market is positively bipolar, Cramer said.