Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.
NEW YORK (TheStreet) -- Conventional wisdom says you just can't make money in individual stocks anymore, Jim Cramer said on Mad Money Wednesday. But does that mean investors should just invest in the averages and settle for average results? Absolutely not.
Why own the entire S&P 500 index when you can own the best stocks in each sector? Cramer asked. Today Pepsico (PEP), led by the "bankable" Indra Nooyi, reported a fabulous quarter and guided estimates higher. Cramer said it wasn't that hard to see Pepsico was among the winners in the consumer packaged-goods space.
Then there's the speculative Puma Biotechnology (PBYI), a stock that jumped a stunning 295% in today's session after the company's breast cancer drug showed positive results. Cramer admitted that many investors may have never heard of Puma, but with a little homework they might have come across this long-shot therapy and been able to profit from it.The winners in the market are out there, and they're not that hard to find, Cramer said. That's why investors should never settle for exchange-traded funds and index funds that just follow the averages. After all, who wants to be just average?