Cramer's 'Mad Money' Recap: Cramer's Picks for 2008

The first lesson he learned from these is the importance of sticking with the winners. "As long as Apple keeps growing at 30, I'm on board," he said.

The second takeaway, Cramer said, is that the worst stocks in a strong sector can be buys. Lesson No. 3 is that slow and steady stocks can win the race. Although there was nothing exciting about Altria, this stock "beat the averages handily."

Cramer said he also wants viewers to note that high-risk stocks like biotech plays could yield a huge return.

Painful Lessons

Two of the big losers from his 2007 picks of the year were Rite Aid and Level 3, Cramer told viewers.

However, he noted that these stocks went down after rising significantly. The lesson to be drawn from this is that "when you have a gain in speculative stocks, you have to sell them," Cramer said.

Another lesson viewers can learn from his picks are that even the best stocks in difficult neighborhoods have trouble fighting the undertow. The best example here is Goldman Sachs, Cramer said. No one wanted to own the financials, even a good one like Goldman.

From NYSE, he said he learned that investors can't make money by being contrarians. Although NYSE was undervalued, Cramer said he didn't take into account how loathed it was on the Street.