Cramer's Take on Eddie Lampert's Stocks

He also touted Sears on a Wall Street Confidential video on June 21 as having the potential to become the next domestic Berkshire Hathaway(BRK.A Quote). "I think every portfolio has to take the risk/reward here of finding the next [Warren] Buffett," he said.

"A selloff in a healthy environment, where inflation is under control and interest rates are stable ... is a great opportunity to pick up leadership names like a Sears," Cramer said. "These are all asset managements -- that's why I like them. They aggressively manage their assets, and that's what you should be buying."

He also has noted that "Eddie Lampert is a terrific investor, and he's the brains behind Sears. ... I am urging patience. I don't want people to quit Sears."

Next on the list is Citigroup(C Quote), one of Cramer's favorite plays. Lampert recently invested in this one, as disclosed on May 15.

Cramer's Take: "For the life of me I don't understand why everyone isn't buying Citigroup. You've got a much better than average yield," Cramer said in a June 21 RealMoney blog post. "You have a management that doesn't have a clue and could be gone in an instant, which would mean you could pick up a quick $3 or $4. You have a company that could be a big gainer worldwide, and it is a ROWer (that's rest-of-world, for those who've missed my thousand references to it)." For his other rest-of-world stocks, check out Cramer's ROW Stocks on Stockpickr.

Cramer further explains, "I am blown away that this stock has been stuck at $53 with all of these positives lurking. This isn't Bank of America(BAC Quote), where you can only hope that they stop buying things. This is one of those stocks where you could have a dramatic move up on any talk of a breakup or a change at the helm, and in the meantime you will get paid to wait."