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"Mexicans could teach us a few things about capitalism," Jim Cramer told his "Mad Money" TV show audience Wednesday.

While U.S. airports are government operated, in Mexico they are privately run on long-term leases from the government, he said.

These airport operators have low debt and generate tons of cash flow, and they've been raising fees, said Cramer. The airport operator that Cramer really likes is

Grupo Aeroportuario del Sureste

(ASR) - Get Report

, which translates to Southeastern Airport Group.

Cramer said that this stock is a two-part story.

First of all, it's a turnaround story. Last year, southeastern Mexico was pounded by hurricanes Emily and Wilma, which dramatically reduced international passenger travel to the area.

Cancun has not fully recovered from these natural disasters, he said, and ASR controls the Cancun International Airport, which serves the most international passengers in Latin America.

Cramer said that this region will recover in terms of tourist traffic, and when it does, ASR should, too. Its airport leases don't expire until 2048.

Even with the hurricane damage, the company's profit margins dipped by only a small percentage, he said. And this year the company faces easy earnings comparisons because of the hurricanes.

The second part of the story is the fact that ASR has monopolistic pricing power, he said.

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"Airlines are a dime a dozen," said Cramer, so they can't jack up fees and keep customers. But airports are natural monopolies. He said that ASR's airport fees are up more than 25%, and there is no reason why they shouldn't keep increasing.

The stock is trading at 19 times forward earnings on 24% revenue growth, which Cramer believes makes the stock cheap.

Copper in the Hopper

"What do you do with good news that everyone else knows about," Cramer asked. "Can you make money on news everyone knows?"

You can't get your hands on inside information, said Cramer. That's where homework comes into play.

For example,

RTI International Metals

(RTI)

just won a major $800 million contract to supply titanium to

Airbus

. "Naturally the stock is up gigantically," he said, but there's still a way to still make money on the news everyone knows.

When Cramer took a closer look at the story, he found that RTI's role is just a single step in a much longer process that turns titanium into finished products that companies like Airbus can use.

Work your way down the supply chain, do some homework and that's where your advantage will come from, he said.

It takes copper to turn titanium into ultra-light-weight products, so he found the little Canadian mining company that does all of its work in Portugal and is a supplier to RTI:

EuroZinc Mining

(EZM) - Get Report

. The company mines for copper, zinc and a little lead, and it's a small stock that closed under $3 Wednesday.

EuroZinc took a tremendous beating when it reported a disappointing quarter, Cramer said, and he believes that this is a good entry point.

If you do the homework, you would find out that EZM is levered to RTI, and Cramer said that you'll also discover that there's plenty of other good stuff happening with the company.

Copper and zinc have both hit record highs, which is great for EZM. In the midst of this great zinc market, he said that the company is radically expanding its zinc production thanks to a new mine in that will open in the second half of the year.

Am I Diversified?

"When I tell you about a stock I think is going to be

en fuego

, I get pretty excited about it," Cramer said. But he reminded viewers that he's also fallible.

"Don't get carried away and sink all your money into one stock," he said, once again preaching the values of diversification. This is why he plays "Am I Diversified?," each week with viewers. In this game, he judges individual portfolios based on diversification as well as the quality of the stocks.

The first caller owned

Saks

(SKS)

,

Walgreens

(WAG)

,

United Online

(UNTD)

,

Home Depot

(HD) - Get Report

and

ATI Technologies

( ATYT).

The first problem, Cramer said, is that the portfolio is not diversified because it has three retailers. He said that Saks is played out, and that Walgreen is best of breed; but he said that ATI is a second-rate graphics play. He likes

Nvidia

(NVDA) - Get Report

more.

The next caller had slightly better luck with diversification, but Cramer didn't like all of her stocks. She owned

@Road

( ARDI),

Brush Engineered Materials

( KRY),

Grew Wolf

( GW),

Crystallex

( KRY) and

Plug Power

(PLUG) - Get Report

.

He liked that she had a gold stock with Crystallex and a mobile computing company with @Road. He added that Grey Wolf is his favorite land driller and that he likes Brush, too.

But he told her to get out of Plug, and she should get into an alternative energy play. Even

Energy Conversion Devices

( ENER), up five points, is better than Plug Power, he said.

The last caller owned

Brocade

(BRCD)

,

Energy Partners

(EPL)

,

Avanir

(AVNR)

,

TransDigm Group

(TDG) - Get Report

and

Dow Chemicals

(DOW) - Get Report

.

"Perfectomundo," Cramer said. He likes Brocade for tech. He said that Avanir has been hurting, but that he likes the drug discovery company. He said that Energy Partners should make a comeback soon, and that TransDigm is one of his absolute favorite aerospace plays.

Administaff Meeting

Administaff

( ASF) reported what looked like a good quarter, but it has fallen to $43 from $58 since it reported first-quarter results last week.

The company's chief executive Paul Sarvadi joined Cramer by telephone to talk about the discrepancy between what the company believes it will do and Wall Street's reaction.

He began by saying that his company had a great quarter, including 21% revenue growth and upwardly revised guidance for the year.

But Cramer pointed out a report from one analyst that said Administaff raised its guidance, but that it was still below current consensus estimates.

Sarvadi said that the Street is not taking into account the seasonality related to payroll taxes and that additional shares came into the account. However, he said, the company's fundamentals are intact and unchanged.

Cramer referred to the same analyst report, which said that the guidance implies a significant sequential decrease from the first quarter to the second quarter. But Sarvadi said that anyone who understands the business would know that gross profits typically decline between the first and second quarters.

He also said that his company intends to buy back shares as soon as possible.

Cramer said that he can't get bullish on the stock until he sees the buyback, but that he believes it is an interesting story and could be a stock that deserves a second chance.

To view Cramer's interview with Sarvadi, click here.

Lightning Round

Cramer was bullish on

Allegheny Technologies

(ATI) - Get Report

,

Abercrombie & Fitch

(ANF) - Get Report

,

America Movil

(AMX) - Get Report

,

TXU

( TXU),

FPL Group

(FPL) - Get Report

,

Agilent

(A) - Get Report

,

Flagstar Bancorp

(FBC) - Get Report

,

Citigroup

(C) - Get Report

,

Crystallex International

( KRY),

Toyota

(TM) - Get Report

,

General Motors

(GM) - Get Report

,

Cadbury Schweppes

(CSG)

,

Hansen Natural

( HANS),

Network Appliance

(NTAP) - Get Report

,

Companhia Vale do Rio Doce

(RIO) - Get Report

,

Consol Energy

(CNX) - Get Report

,

Peabody Energy

(BTU) - Get Report

and

Yum! Brands

(YUM) - Get Report

.

Cramer was bearish on

Titanium Metals

(TIE)

,

Telmex

( TMX),

Southern Co.

(SO) - Get Report

,

Lucent

( LU),

Pepsi

(PEP) - Get Report

,

Gateway

( GTW),

JDSU

(JDSU)

and

Covanta Holding

(CVA) - Get Report

.

For more of Cramer's insights during the most recent Lightning Round, click here.

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by

clicking here

.

At the time of publication, Cramer was long Network Appliance.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on Mad Money are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

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