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"Why trade in fads when you can invest in long standing greatness?" Jim Cramer asked viewers of his "Mad Money" TV show Monday.

He said that he's tired of hearing about the Blackberry and the recently released

Grand Theft Auto 4

video game. Cramer said he's more interested in what really matters to the U.S. economy.

On that note Cramer recommended

Emerson Electric

(EMR) - Get Emerson Electric Co. Report

, calling the company "one of the top five best manufacturers in the world."

Emerson, he said, is one of only a handful of innovative industrial manufacturers committed to giving the world the products it needs. "Emerson makes money in good times, and in bad," he said.

Cramer said he liked Emerson's portfolio of products including its industrial automation, network power systems, appliances and tools, and climate control systems. He said the whole company is firing on all cylinders, making the products the world needs.

Cramer last recommended Emerson on Aug. 24, 2007 at $47 a share. Since then, the stock is up a brisk 19%. Despite recent gains, Cramer said Emerson is still cheap. The company derives 52% of its revenue from overseas, with 30% of its revenue now coming from emerging markets.

Emerson estimates free cash flow from operations to be $2.4 billion in 2008, and Cramer said at least part of that money is likely to be returned to shareholders.

The company has a 2.2% dividend yield, which it has raised an incredible 51 years in a row, and also sports a stock repurchase program of 86 million shares or 11% of the company's current shares outstanding.

Cramer noted that Emerson trades at just 16 times its estimate 2009 earnings, despite its 15% long-term growth rate. He said the company is trading at a discount from where it should be trading.

Cramer: FedEx Reveals Market's False Assumptions

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An IPO Gem

In his "Know you IPO" segment, Cramer recommended shares of


(CFX) - Get Colfax Corporation Report

, which just went public on May 8.

He said the company is one of the few pure-plays in the fluid management business, an industry that gets little attention but is vital to the new U.S. economy.

Colfax makes pumps and fluid management products for a multitude of bull-market industries, including oil and gas, oil refining, energy and power plants, and chemical production.

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He liked the company's diversification, with 44% of the company's sales from general industrial, 24% from commercial marine, 15% from oil and gas, 11% from power generation and 6% from the U.S. Navy.

Cramer compared the new Colfax to


(FLS) - Get Flowserve Corporation Report


Robbins & Myers


, two other fluid management companies.

Flowserve, he noted, has risen from around $80 this past January, to as high as $123 on Monday. Robbins & Myers' stock has risen from just $24 in September, 2007 to $42 on Monday. Given these valuations, Cramer predicted Colfax could see as much as a 26% gain if it were to catch up to the valuation of its peers.

Cramer also liked Colfax's international exposure, noting 76% of its sales now come from overseas. He also noted the involvement of the Rales brothers in the company, saying their 44% stake in the company should be money in the bank.

Cramer advised viewers to wait at least a week before picking up shares of Colfax. He cautioned investors to not purchase the shares after hours and not to pay over $21 a share.

Riding on Wind Power

Cramer proclaimed that 2009 will be the year of wind power and recommended

Owens Corning

(OC) - Get Owens Corning Report

as his favorite wind power stock.

Cramer said that Owens Corning, often thought of as just a supplier of insulation, is transforming itself into a great global manufacturer of alternative energy components. The company now has a glass-fiber composites business that accounts for 33% of its sales.

Cramer said the glass composites business combines glass fibers with other materials to make incredibly strong and flexible substances for wind turbines, among other applications.

According to a recent Department of Energy report, up to 20% of the U.S. energy supply could be generated by wind power by 2030. This shift would constitute a $43 billion investment in wind power.

Cramer noted one potential pitfall with Owens Corning is that 40% of its sales are still tied to the US housing market, but he feels that the bad news from this segment has already been priced into the stock.

He said that Owens is no longer tied to this industry and is instead transforming itself into a non-cyclical company. "This stock is a winner," he said, "even if U.S. housing stays in the dumps."

Mad Mail

In this segment, Cramer told a viewer that he'd rather own a

Harley Davidson

(HOG) - Get Harley-Davidson, Inc. (HOG) Report

motorcycle, than the company's stock.

He told a second viewer that he still likes


(AGN) - Get Allergan plc Report


TheStreet Recommends

In the shipping industry, Cramer said he still likes


(FRO) - Get Frontline Ltd. Report


Nordic American

(NAT) - Get Nordic American Tankers Limited Report


Final Note

Cramer told viewers not to sell

Foster Wheeler


in lieu of the strong earnings reported by


(FLR) - Get Fluor Corporation Report

. The former is a stock which he owns for his

Action Alerts PLUS portfolio.

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Lightning Round

Cramer was bullish on

Diversified Machinery

(CKH) - Get SEACOR Holdings Inc. Report


Gerdau S.A

(GGB) - Get Gerdau S.A. Sponsored ADR Pfd Report


Millicom International Cellular

( MICC)and

Canadian Natural Resources

(CNQ) - Get Canadian Natural Resources Limited Report


Cramer was bearish on


( BBI),

Intuitive Surgical

(ISRG) - Get Intuitive Surgical, Inc. (ISRG) Report



( GEOY),




Circuit City

(CC) - Get Chemours Co. Report


Jim Cramer writes about all the stock trades in his charitable trust for in Action Alerts Plus. Recent stocks he's traded in this account include Schering-Plough (SPG) - Get Simon Property Group, Inc. Report, Yamana Gold (AUY) - Get Yamana Gold Inc. Report and Inverness Medical( IMA).

Want more Cramer? Check out Jim's rules and commandments for investing by

clicking here


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


At the time of publication, Cramer was not long on any stock.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 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, 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, 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 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, 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.