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"Being a great investor is all about finding stocks with the right mix of upside and security," Jim Cramer told viewers of his "Mad Money" TV show Wednesday. Such stocks can make people a lot of money and profit from the current environment.

Barrick Gold

(ABX)

, he said, fits both criteria. It is "the best gold stock to buy right now," Cramer said.

Gold is breaking out because of the weak dollar, lower short-term rates and worries about inflation, Cramer said. The commodity has always been a good hedge against this environment.

While

Newmont Mining

(NEM) - Get Report

was Cramer's proxy for gold, the company has failed to buy more gold mines, he said.

Cramer said he's also taking a break from

Yamana Gold

(AUY) - Get Report

, as its recent purchase of

Meridian

(MDG)

was "a long-fought acquisition," and Cramer expects it will take a while for Yamana to digest it.

Instead, Cramer prefers Barrick, which has a lot of gold reserves and is "totally prepared for higher gold prices," he said. "The price of gold will be the price they get for gold."

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If people believe gold prices are going down, then they shouldn't buy Barrick, but then they also should have their head examined, Cramer said. If gold goes to $1,000 an ounce, Cramer believes Barrick will go to $50 a share.

It's true that Barrick's finding costs have gone up, but that stems from mining issues that should be resolved in the near future, he said. Plus, the company has a new generation of mines becoming active, which should further reduce costs, and the stock does not have a lot of political risk. It is the "ideal gold stock" to own, Cramer said.

Athena, I Had No Idea...

All week Cramer told viewers he's looking at opportunities in overlooked initial public offerings. In his third installment of the series, he named

Athenahealth

(ATHN) - Get Report

"probably the best" of his overlooked IPO lot, although "by far, the most expensive."

The company, which came public on Sept. 20, belongs to the pantheon of health care-solution stocks like

Quality Systems

(QSII)

and

Allscripts Healthcare

(MDRX) - Get Report

, Cramer said.

Cramer gave Allscripts the nod two days before Athenahealth's IPO. He said he didn't pay attention to the public offering when it happened. Cramer believes it is still early enough to get into Athenahealth, and because market players probably wouldn't have been able to get into the IPO anyway, they haven't really missed any gains here, he said.

Athenahealth, he said, is in the same business as Quality Systems and Allscripts, but conducts its business solely over the Web. "The market for this stuff is massive and it's nowhere near fully penetrated," Cramer said.

Athenahealth's service resolves 93% of its claims on its first try and has a 95% customer renewal, he continued. Its customers, Cramer said, are "loyal" and "addicted." And because its customers rarely drop the service, Athenahealth has a good case of recurring revenue.

The stock is currently trading at 46 times forward earnings. This might look expensive, Cramer said, but at the same time, Athenahealth has 42% growth.

Cramer urged viewers to consider getting into Athenahealth, but recommended using limit orders.

'Am I Diversified'

In his "Am I Diversified?" segment, Cramer's first caller named the following five stocks:

SAP

(SAP) - Get Report

,

Annaly Capital Management

(NLY) - Get Report

,

Nvidia

(NVDA) - Get Report

,

BEA Systems

(BEAS)

and

Honeywell

(HON) - Get Report

.

Cramer said the caller had too many tech stocks with SAP, Nvidia and BEA Systems. He advised the caller to keep BEA Systems, sell the other two and to consider buying a health care stock like

Hologic

(HOLX) - Get Report

, which he owns for his charitable trust,

Action Alerts PLUS, and a defensive stock.

The second caller said his portfolio contained these five plays:

Apple

(AAPL) - Get Report

,

Trimble

(TRMB) - Get Report

,

Xoma

(XOMA) - Get Report

,

Freeport-McMoRan

(FCX) - Get Report

and

Goldman Sachs

(GS) - Get Report

, the last two of which Cramer owns for Action Alerts PLUS.

Cramer called out another tech pair in Apple and Trimble. He suggested selling Trimble and, again, picking up a health care cost-container like Hologic.

The last player asked if he was diversified with the following five picks:

Monsanto

(MON)

,

PepsiCo

(PEP) - Get Report

,

Research In Motion

(RIMM)

,

U.S. Steel

(X) - Get Report

and

Exxon Mobil

(XOM) - Get Report

.

Cramer blessed the portfolio as diversified.

'Mad Mail'

During the "Mad Mail" segment, a viewer wrote in thanking Cramer for keeping it real and mentioned Cramer's recent call with George Feldenkreis, the CEO of

Perry Ellis

(PERY) - Get Report

.

Cramer said that while Feldenkreis seemed like a great guy, he likes

Phillips-Van Heusen

(PVH) - Get Report

more.

Responding to another emailer, Cramer called

Walgreen

(WAG)

"still too expensive," and said he likes the cheaper

CVS

(CVS) - Get Report

, which he owns for his charitable trust, better. "Stay away from Walgreen," he said.

Lightning Round

Cramer was bullish on

VMware

(VMW) - Get Report

,

KB Home

(KBH) - Get Report

,

Hewlett-Packard

(HPQ) - Get Report

,

Xoma

(XOMA) - Get Report

,

Texas Instruments

(TXN) - Get Report

, Apple and

Nastech Pharmaceutical

(NSTK)

.

Cramer was bearish on

Microsoft

(MSFT) - Get Report

,

Dell

(DELL) - Get Report

,

Occidental Petroleum

(OXY) - Get Report

and

Isis Pharmaceuticals

(ISIS)

.

'Sudden Death'

During the "Sudden Death" round, Cramer was bullish on

Flotek Industries

(FTK) - Get Report

,

Celgene

(CELG) - Get Report

and

Crocs

(CROX) - Get Report

.

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

clicking here

.

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

.

At the time of publication, Cramer was long CVS Caremark, Freeport McMoRan, Hewlett-Packard, Hologic and Goldman Sachs.

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."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.