Cramer's 'Mad Money' Recap: Rules of Atonement (Final)

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NEW YORK (TheStreet) -- "The only way to atone for your stock market mistakes is to learn from them," Jim Cramer told the viewers of his "Mad Money" TV show Monday. He said that only by avoiding similar mistakes in the future will investors truly prosper.

Cramer said one of his biggest mistakes this year was predicting that Boeing (BA Quote) would triumphantly fly its much anticipated "787 Dreamliner" into this year's Paris Air Show, ushering in a new growth cycle for the entire aerospace industry. In reality, the exact opposite happened. Boeing instead used the event to announce even further delays for the beleaguered aircraft, and its stock tanked as a result.

Cramer said his mistake was focusing on the event, the Paris Air Show, rather than the company, Boeing, which is indeed on the heels of a huge, multi-year growth cycle. He said he broke one of his cardinal rules, he turned an investment into a trade. His atonement, he said, is to make the long-term case for Boeing.

Cramer said his thesis regarding Boeing is correct, despite his timing, which could not have been worse. He said investors need to buy Boeing for the Dreamliner, plain and simple. He said the industry is teeming with pent up demand for new planes and that's great news for Boeing. The 787, when it does eventually fly, will give Boeing strong growth for years to come. "Boeing is still very much a buy," said Cramer, "and if it goes lower, you can buy some more."