Cramer's 'Mad Money' Recap: Pooh-Poohing Private Equity

Go Soros One Better

"Everyone wants to invest like George Soros," Cramer told his viewers. At least, that's what he gathers from the fact that the George Soros portfolio is stockpickr.com's most popular.

But Cramer said he doesn't want to invest like Soros. "I want to be better than Soros!" he said.

For example, Soros owns Bon-Ton(BONT Quote), but Cramer wouldn't, because it's "too dicey. ... Maybe it's a long-term Soros pick, because short term it really stinks."

Soros also owns CVS(CVS Quote), which Cramer said he likes after its great Caremark deal, "but I have preferred over and over again Rite Aid(RAD Quote)."

And Soros own Qualcomm(QCOM Quote), but Cramer prefers Texas Instruments(TXN Quote).

The one Soros stock that Cramer said he really thinks people should be in is diagnostics company Gen-Probe(GPRO Quote).

"On 'Mad Money,'" he said, "we're delighted by diagnostics." He owns two diagnostics companies -- Inverness Medical Innovations(IMA Quote) and Hologic (HOLX Quote) -- for his charitable trust, Action Alerts PLUS.

As for Gen-Probe, Cramer said it is "instant growth."

It is one of the two major providers of blood-screening tests, with 40% of market share. It also is in an "enviable position with 58% of the market for chlamydia and gonorrhea tests."

In addition, the company has its future all worked out, with alliances with General Electric(GE Quote), 3M(MMM Quote) and Millipore(MIL Quote).

"Don't invest like George Soros," Cramer said. "Invest better than George Soros. Go buy some Gen-Probe."

Mad Mail

In his "Mad Mail" segment, Cramer agreed with one viewer that Manitowoc(MTW Quote) is "absolutely" a stock that should be considered for Cramer's $80-to-$120 theory.