Cramer's 'Mad Money' Recap: Rite Aid Goes Wrong

At this point, however, Cramer said he wouldn't like to own it. He'd rather be in names like Foster Wheeler (FWLT Quote) or Shaw Group (SGR Quote), he said.

"Maybe you like these stocks, maybe not, but you can't buy something before you know everything about it," Cramer advised. Therefore, people should follow his lead and do their homework and then decide whether to pull the trigger.

Sell Block

During his "Sell Block" segment, Cramer told viewers he believes Goldman Sachs (GS Quote), which he owns for his charitable trust, Action Alerts PLUS, is grossly misunderstood and shouldn't be lumped with other banks.

Before the company's quarter, he advised people to hold Goldman and not buy any on fear that the shorts would bring the stock down. However, on Thursday, Cramer let Goldman loose from the sell block and endorsed it as a buy.

He recommended people forget about private equity and instead concentrate on what he called "the biggest investment wave ever": the sovereign investment wave, where foreigners invest in U.S. companies. This, Cramer said, is the wave of the future.

Private equity will be nothing next to sovereign investment, and Cramer believes Goldman is going to grow because of this, he said. Goldman, Cramer said, has an advantage over the other brokers in getting sovereign investors as clients.