Cramer's 'Mad Money' Recap: When Broken Stocks Get Fixed

Cramer believes this is the quarter that Viacom and Sumner Redstone, the company's chairman, will deliver. It is trading at a "big discount" to its peers, but now that Viacom understands it needs to concentrate on profits, it's in the "sweet spot," he said.

Ménage à Plumbing Trois

"Right now there is a dammed-up flood of money in private-equity firms," Cramer told his viewers.

If he worked at a private equity firm, Cramer said, he'd be "eager" to buy Lamson & Sessions (LMS Quote). The stock is a "gift" down 50 cents at $28.25 today, and it's Cramer's private-equity play to viewers, he said.

"This one is a dream come true for two reasons," Cramer said.

First, although Lamson makes really boring stuff like electrical conduits, safety products and PVC (polyvinyl chloride) piping, the raw cost for PVC piping is "dropping like a rock," which should translate into some mad money, he said.

Lamson reported a shortfall, but that is already priced into the stock, Cramer said.

Second, Cramer said he likes it because of his private-equity master plan.

Right now there are three companies up for sale, Cramer explained, and Lamson is "one of the three legs of his private-equity dream." The other two are American Standard's (ASD Quote) plumbing business and Home Depot's (HD Quote) building and supply company, both of which recently went on sale.