IPO OdysseyInitial public offerings can be good or bad, Cramer told a caller. The best IPOs tend to be companies that are early on in a new business cycle, he said, adding that the dogs come in by the time every one has come public. Cramer said he was intrigued when MasterCard ( MA) became public. Nobody thought much of this company, but it has become a big winner, he said. "I look for out-of-the-way stuff that could work," he said. "When I look at an IPO, I don't necessarily want the hottest one."
Middleman MarchCramer said investment banks are a key part of corporate acquisitions. "A company wants to grow when it feels its current growth is tapped," he said. For this reason, companies go to investment banks, he said. A Procter & Gamble ( PG) does not reach out to Gillette on its own. It's all done by bankers -- the middlemen, he said. When an emailer asked about foreign markets, Cramer said he has historically not liked the Chinese IPO market because he feels as if he's being taken advantage of, since there is no serious Securities and Exchange Commission there. In addition, he feels the Chinese market is an insider's game. The Indian market, however, is very much like the U.S., he said, adding that he would own any of the Indian consulting companies or Tata Motors ( TTM), India's big car company, he said. He doesn't even care which consulting company people buy, he said. "That's how bullish I am about them," he said. Cramer said he also recommends Bangalore-based Wipro ( WIT), which is a little speculative. People should go to India to diversify themselves overseas, he said. For Latin America exposure, Cramer advised looking at America Movil ( AMX), Bancolombia ( CIB) and Homex Development ( HXM). Cramer also suggested Colgate ( CL), an American company that has a lot of Latin America exposure. Responding to a high-schooler who wrote in asking about how one prepares for a job on Wall Street, Cramer emphasized the necessity of reading the paper, and particularly the business section. Cramer said that whenever he comes across an interviewee who wants to work for him and it becomes evident that that person doesn't read the paper, he doesn't consider that applicant any further. The second piece of advice Cramer gave was to "be armed with two or three stocks you believe in." "Don't be a wallflower when trying to get a job," he said "It won't work." Also, show that you are a hustler and are willing to do things people are not willing to, he said. "Never be afraid to do something that you regard beneath your station," he said. "There has to be some swallowing of pride."