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NEW YORK (

TheStreet

) -- "The market's finally recognizing that there's real value out there," Jim Cramer told the viewers of his

"Mad Money"

TV show Wednesday.

But he said that value is not in the consumer staple stocks that so many investors have been flocking to nor in the high-flying Internet stocks. Rather it's in the long-forgotten industrials.

Cramer said the link between the U.S. markets and the plight of the euro may be getting old, and the fundamentals might start to matter again. He said ever since the Japanese earthquake, one of the largest economies in the world has been offline. But that may finally be changing, as stocks like

Toyota

(TM) - Get Report

showed some signs of life today and the Baltic freight index is also turning positive.

Cramer said ever since the Japanese earthquake there's been a huge rotation out of the industrial stocks and into the consumer staples, sending those stocks to some of the highest valuations he's ever seen. "These stocks are priced for perfection," said Cramer, but unfortunately the rise in commodity prices is not creating the perfect environment for stocks like

Procter & Gamble

(PG) - Get Report

.

"Listen to the companies, not the futures markets," Cramer told viewers. He continued to recommend a diversified portfolio consisting of dividend stocks, growth stocks, some consumer staples, gold and of course, one speculative name.

Cramer once again reminded viewers that in relation to

LinkedIn

(LNKD)

, the stock of

Netflix

(NFLX) - Get Report

is still very attractive, as is

Apple

(AAPL) - Get Report

, a stock which he owns for his charitable trust,

Action Alerts PLUS.

Healthy Living

For the next installment of his "Healthy Week" series, Cramer featured

Life Time Fitness

(LTM) - Get Report

, a health club operator with 92 centers in 21 states. More than just a gym, Life Time offers a full suite of services to help families look and feel better. Cramer sat down with Bahram Akradi, chairman, president and CEO of Life Time for the latest details.

Akradi called Life Time a "healthy way of life" company that focuses on total health, including fitness ,weight loss, and athletics. He said the key to Life Time's programs is that they focus on what members love to do. Whether it's rock climbing, yoga or running, Life Time will design a program around doing what their member's interests are.

Akradi said most gyms are nothing more than rooms full of fitness equipment, but Life Time's programs are much broader and include everything from children's swim classes to master swimming classes for adults. That's why Life Time's attrition rate, the percentage of customers who leave the program, is at an all-time low.

Among the other bright spots for the company is a venture called My Health Check, which offers results-based wellness programs that companies can offer employees. Akradi said that program alone could become larger than Life Time is today.

Cramer said Life Time Fitness is a great company helping to make a difference in the obesity epidemic in our country, adding its stock deserves to be a lot higher.

Building Trust

In a second "Healthy Week" segment, Cramer once again featured

Panera Bread

(PNRA)

, a stock that's up 154% since Cramer first got behind it in July 2008. Shares of Panera trade at 23 times earnings despite the company's 18% growth rate, but Cramer said investors haven't missed anything yet. Cramer spoke with Ron Shaich, chairman of Panera Bread, to learn more.

Shaich said Panera has been in their business for 20 years, and has a long history of providing "food you can trust." He said whether that's removing trans fats, using organic ingredients or being transparent on calories in all of the company's menu, Panera always does what's best for their guests and is committed to quality ingredients.

When asked about the company's drive-thru initiatives, Shaich explained that Panera has been working on drive-thru for seven years. "Nothing comes quickly at Panera," he joked, while saying that the cmoapny aims to protect the interior of the cafe, so the cafe doesn't interfere with the drive-thru and vice versa.

Finally, when asked about raising prices, Shaich said Panera always gets permission from their guests before raising prices, and only passes on what's needed. He said despite these increases, guests still receive great value and don't mind paying a little more.

Cramer once again reiterated his recommendation of Panera.

Am I Diversified?

Cramer spoke with callers to see if their portfolios have what it takes. The first caller's portfolio included

Amazon.com

(AMZN) - Get Report

,

Costco

(COST) - Get Report

,

Lululemon Athletica

(LULU) - Get Report

,

Boeing

(BA) - Get Report

and

Silicon Graphics

(SGI)

.

Cramer said Costco and Amazon were too similar. He recommending selling Amazon in favor of an industrial stock.

The second caller's top holdings included

ExxonMobil

(XOM) - Get Report

,

Wellpoint

(WLP)

,

3M

(MMM) - Get Report

,

Walt Disney

(DIS) - Get Report

and

UPS

(UPS) - Get Report

.

Cramer said this portfolio was picture perfect.

The third caller had

Magellan Midstream Partners

(MMP) - Get Report

,

Xcel Energy

(XEL) - Get Report

,

Innophos

(IPHS) - Get Report

,

Cinemark

(CNK) - Get Report

and

Caterpillar

(CAT) - Get Report

as their top five stocks.

Cramer said this portfolio was also perfectly diversified.

The fourth caller's top stocks were

AT&T

(T) - Get Report

,

Eaton

(ETN) - Get Report

,

Ford

(F) - Get Report

,

Weatherford

(WFT) - Get Report

and

Jabil Circuit

(JBL) - Get Report

.

Cramer said "well done" to this caller's diversification strategy.

Lightning Round

Cramer was bullish on

Salesforce.com

(CRM) - Get Report

,

Annaly Capital

(NLY) - Get Report

,

Baidu.com

(BIDU) - Get Report

and

OpenTable

(OPEN)

.

He was bearish on

Google

(GOOG) - Get Report

,

RealD

(RLD)

,

NetSuite

(N)

and

Shanda Games

(GAME)

.

Mark Haines Tribute

In his "No Huddle Offense" segment, Cramer gave a heart-felt tribute to colleague and CNBC anchor Mark Haines, who past away suddenly Wednesday at the age of 65. Cramer said Haines defined business journalism, and was the first to hold the feet of CEO's to the fire, asking the tough questions that no one else would. "No free passes" was his mantra, Cramer said.

Cramer also credited Haines with helping him make the transition from hedge fund manager to TV personality. He recounted being terrified of Haines at first, only to learn through the years that the passionate family man was concerned most about the home gamer, the individual investor.

Cramer said Haines, who nicknamed Cramer, "Jim Bob of the church of what's working now," always remained calm, whether it be the tragedy of 9/11, the dot- com collapse of 2001 or the financial crisis of 2008.

A teary-eyed Cramer concluded that "Haines will be missed."

--Written by Scott Rutt in Washington, D.C.

To contact the writer of this article, click here:

Scott Rutt

.

To follow the writer on Twitter, go to

http://twitter.com/scottrutt

.

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tips@thestreet.com

.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC

.

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, clickhere

.

At the time of publication, Cramer was long Apple.

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.