Cramer's 'Mad Money' Recap: Best Little Stocks in Texas

Heinz Anticipation

Cramer invited William Johnson, the president and CEO of Heinz (HNZ Quote) and a distinguished alumni of the McCombs School of Business, to the show and asked him if he's right to recommend Heinz as the "ultimate defensive play" or if he should expect the Chinese and Japanese to enter the market and start putting their own bottles of ketchup on dinner tables.

"No, we have our bottles on their tables," Johnson responded.

When Cramer asked why so many people get scared when a big shareholder like Nelson Peltz shows up to a company uninvited, Johnson said one reason is because no one wants a boss.

"Instead we have lots of bosses, including consumers who buy our products," Johnson went on to say. "It's a normal resistance, but it's a mistake because these guys do bring value."

Johnson also said that "innovation is the theme of the company," and Heinz spends a lot of time trying to understand trends.

Cramer called Heinz an "ideal weak-dollar play" and said it's the stock that "defines the most defensive business possible."

To view Cramer's interview with William Johnson, please click here.

Perfect Pitch

Cramer invited students from the business school's MBA Investment Fund to come out and pitch him their favorite stocks.

The first student tried to sell Schlumberger (SLB Quote) as a value pick. Even though the group was down big today, the student said he was not fearful because of "great macroeconomic trends" in favor of Schlumberger and the still-high price of oil.

Cramer said the student was right and that he believes Schlumberger is taking share and is best of breed. Although the stock is not cheap, Cramer said that sometimes you have to pay a premium for the best. "I would buy it aggressively," Cramer said.