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"We tend not to think of the U.S. Supreme Court as a way to make money," and usually that's right, Jim Cramer told viewers of his "Mad Money" TV show Monday.
However, on April 2, a Supreme Court decision against the U.S. Environmental Protection Agency has turned this whole theory around, he said.
The state of Massachusetts sued the EPA for not regulating carbon emissions from cars, Cramer explained. The court then ruled that the agency has the authority and responsibility to mandate these issues. And now the EPA "must regulate carbon dioxide emissions," which means there is "pressure for companies to become more green," he said.
"Nobody's going to change because it's the right thing to do ... but now it's no longer economical to do the wrong thing," Cramer said. "This decision makes investing in clean energy smart."
Now that the rules have changed, if a company is green "it's time to take a second look" at it, Cramer said, because "this decision puts a higher multiple on everything green."
Because "green stocks" are about to get more expensive, Cramer said he needs people in them. He said he is marking April 2, the day the Supreme Court handed down this decision, as "Green Day" and is denoting an entire weeklong series to Green Day.
"It's time to change our position on companies that encourage going green," Cramer said. "This is a landmark decision."
"Every stock levered to a cleaner environment should go higher in the near future," he told his viewers.
On the first day of his "Green Day" series, Cramer focused on his two favorite plays in the power sector:
. These two companies, he said, are "making themselves cleaner and the atmosphere cleaner."
Now that the Supreme Court has decided to make pollution "public enemy No.1," Foster Wheeler "is attractive for its low multiple," Cramer said. "This one is going to take a huge run." He believes that the $68 stock will go to $105.
Foster Wheeler is "a leader in fluidized bed boilers," Cramer said. Power plants use boilers to convert coal, gas or wood into energy, and the best part about Foster Wheeler's boilers is that they're "flexible" and allow power plants to cut sulfur dioxide and nitrogen oxide emissions, he said.
"This company is so in the sweet spot, it's scary," Cramer said, adding that regardless of its environmentally friendly nature, he considers it a "great buy" right now.
Moreover, Shaw Group has nuclear power, which is the "best way to go -- from a global warming perspective," he continued. It recently won a couple of contracts, expects to get more contracts in the next few months and "has a huge inside edge on nuclear projects in the U.S. and abroad," according to Cramer.
In the next few years, these two stocks should make people some mad money, said Cramer, who would "buy them both."
If Cramer had come on the show seven weeks ago when the market was going down and advised people to take all their money out of stocks, he would have been "applauded by the media," Cramer said. But at the same time, he would have been "painfully wrong."
"Instilling fear has always been seen as being the height of responsibility" in the market, Cramer said. However, instead of doing that, Cramer told people to buy stocks such as
Then Cramer said it was OK to buy the banks, the second group to bottom. "The second bottom that I called is still happening," and this is the week in which the analysts will start upgrading these stocks, he said.
What market players want to buy here is
, which he owns for his charitable trust,
Action Alerts PLUS, Cramer said.
Although people might think he is "irresponsible this time around" for recommending Goldman Sachs, Cramer said he feels it is a "cheap, high-quality member of the financial group," which he expects to go higher.
Further, he believes that "the stigma of credit cards is going to go away" and that
Capital One Financial
, which he also owns for his charitable trust, should go higher.
"I own them both, and I think they're great," Cramer said.
In his "Mad Mail" segment, Cramer told a viewer that
may have moved up, but in the end he believes that both are going to be acquired.
Responding to another mailer, Cramer said nobody could have seen the
buyout coming, since the "media was so negative on this group because of the steel glut."
However, he believes that more consolidation in this group is coming and that the sector is going to end up having only three or four players in total.
Cramer was bullish on
Kinder Morgan Energy Partners
Cramer was bearish on
Excel Maritime Carriers
Meruelo Maddux Properties
Houston Wire & Cable
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At the time of publication, Cramer was long Goldman Sachs and Capital One Financial.
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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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.