Do activist investors create wealth or destroy it? That was the question Jim Cramer answered for his Mad Money viewers Tuesday. Some activists are better than others, he concluded, but overall, individual investors should celebrate them.

Cramer cited today's proxy vote at Procter & Gamble (PG) - Get Report where management narrowly defeated Nelson Peltz's bid for a seat on the company's board of directors. Procter is a great American company, Cramer said, but while the company has been turning itself around, Peltz thought they could do even more. In the end, Cramer said having more accountability and cultivating smaller brands, as Peltz suggested, are good things for Procter, and even without him on the board, they are coming to the forefront.

In related news, General Electric (GE) - Get Report , an Action Alerts PLUS holding, announced that it's adding Ed Garden, a Peltz associate, to the board in an effort to bring a fresh set of eyes that that troubled company. Cramer applauded this move, saying that he's gotten GE dead wrong and wishes the company had brought on Garden sooner.

Then there's Honeywell (HON) - Get Report , which announced today that it will split into two companies, climate controls and transportation, a move that unlocks a lot of value that activists had been clamoring for. Hip and knee replacement giant Smith & Nephew (SNN) - Get Report saw its shares rise 4.6% on the news of activist involvement, another win for shareholders.

While not all activists are created equal, on balance Cramer said they're a good thing that investors should welcome into their portfolios.

Executive Decision: Workday

For his "Executive Decision" segment, Cramer spoke with Aneel Bhusri, co-founder and CEO of Workday (WDAY) - Get Report , the cloud provider of human capital management services with shares that are up 64% in 2017.

Speaking from his company's annual user conference, Bhusri said that this year they're hosting 8,500 people with another 5,000 watching the conference online. That's 10 times the size of Workday's conference five years ago.

Among the highlights this year is Workday's new platform offerings which allow other companies to build their own applications on top of Workday. Bhusri said this move transforms Workday from an applications company to a platform company. They are also introducing new data services which allow companies to compare their metrics to those of their industry peers.

Bhusri alsonoted that when companies merge, one of the first things they look to do is combine their HR services, something that Workday makes easy, especially when both firms are already using Workday.

Off The Charts: Semiconductors

In the "Off The Charts" segment, Cramer checked in with colleague Bob Lang for a read on the charts of the semiconductors, a group that has seen a staggering 1,200% move since the generational lows of 2009. Cramer said this monster move signals commerce, industry, progress and the future, but can it continue?

Lang first looked at a daily chart of Intel (INTC) - Get Report , which has returned to its dot-com highs with a bullish relative strength indicator and Chaikin money flow, all of which signal strong institutional buying. Lang and Cramer felt that any pullback when the company reports would be a buying opportunity.

Lang next looked at a daily chart of Qualcomm (QCOM) - Get Report , noting a bullish inverse head-and-shoulders pattern, also with a strong RSI, Chaikin and MACD momentum indicator. Lang felt it was smooth sailing to $56 a share and beyond.

Next up was Broadcom (AVGO) - Get Report , which has seen a series of higher highs and higher lows with a bullish flag pattern emerging. Cramer said he still likes this Action Alerts PLUS holding.

Cramer concluded by noting that his favorite semiconductor remains Nvidia (NVDA) - Get Report , but all of these names are also strong.

Executive Decision II: Tellurian

In his second "Executive Decision" segment, Cramer once again sat down with Charif Souki, co-founder and chairman of Tellurian (TELL) - Get Report , Souki's follow-up to Cheniere Energy (LNG) - Get Report , which is also in the business of liquified natural gas. Tellurian's first facility in Driftwood, LA is expected to open in 2022, but in the meantime the company is snapping up assets around the globe.

Souki said there are two things that have changed over the past 10 years. First, he said, the U.S. is now the undisputed low-cost provider of natural gas around the globe. Second, there is so much gas now available that companies no longer need to have long-term contracts in order to get the gas they need.

In that new environment, Souki said Tellurian is well-positioned for building liquefaction facilities.

When asked where he sees oil prices heading, Souki said that he's comfortable with the $50 to $60 a barrel level for oil, but noted that demand is picking up and the U.S. won't be able to meet demand for long before prices begin to rise.

Lightning Round

In the Lightning Round, Cramer was bullish on Kratos Defense & Security (KTOS) - Get Report and Cardinal Health (CAH) - Get Report .

Cramer was bearish on FibroGen (FGEN) - Get Report , Nike (NKE) - Get Report and Allscripts Healthcare (MDRX) - Get Report

No Huddle Offense

In his "No Huddle Offense" segment, Cramer pondered what the world would be like if bank stocks were valued like regular companies and weren't lagging the rest of the market at just 14 times earnings.

He said it's no secret that the reforms put in place after the financial crisis have been crippling the banks. Those regulations might be coming to an end, however, now that there is a new vice chairman of supervision at the Federal Reserve.

Cramer said with even a loosening of stress tests and other stipulations, the banks will see more dividends, buybacks and earnings per share, all while having even stronger balance sheets and more money to lend.

Over on Real Money, Cramer explains what's happening in this market and what it means to your investment strategies. Get his insights with a free trial subscription to Real Money.

Cramer and the AAP team are focusing on the outlook for their charitable trust. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts PLUS.

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Action Alerts PLUS

, which Cramer co-manages as a charitable trust, was long GE, AVGO and NVDA.