"I'm out to change the way people look at stocks," Jim Cramer told viewers of his "Mad Money" TV show Thursday. He continued to drive home his thesis that traditional "high-tech" companies are yesterday's news, and what the world -- and the markets -- are really interested in are "new-tech" manufacturing companies working to solve the world's problems. According to Cramer, its time to stop embracing the traditional Silicon Valley tech companies in favors of real-world manufacturers that are using technology to generate and conserve energy, bolster food supplies and solve global issues. Cramer said these new-tech companies deserve the higher P/E ratios because of their higher earnings visibility. Cramer said he's not interested in Dell ( DELL), which reported its earnings this evening, but he is interested in Illinois Tool ( ITW). Cramer explained that Illinois Tool's food packaging equipment business helps process and store food more efficiently, thus reducing waste and helping to feed humanity. The company also has a specialty power business and is increasing its international exposure, with foreign sales doubling over the past three years. Illinois Tool also offers investors great earnings visibility, said Cramer, due to the long business cycles in which it operates.
Cramer: It's Not All Bad
Pride and Joy
Sell BlockIn the Thursday "Sell Block" segment, Cramer discussed an entire series of stocks that he got wrong. On Feb. 25, Cramer featured five stocks in what he called an international wireless bull market. The stocks included Mobile Telesystems ( MBT), Vimpel Communications ( VIP), Millicom International ( MICC), Telkom Indonesia ( TLK) and Turkcell ( TKC). Collectively, these stocks are down 12%, in a period where even the S&P 500 managed a 1% gain.
Lightning RoundIn the Lightning Round, Cramer was bullish on Transocean ( RIG), National Oilwell Varco ( NOV), Hudson City Bancorp ( HCBK) and UMB Financial ( UMBF). Cramer was bearish on Harley Davidson ( HOG), Hologic ( HOLX) and Verasun Energy ( VSE).
Jim Cramer writes about all the stock trades in his charitable trust for TheStreet.com in Action Alerts Plus. Recent stocks he's traded in this account include Schering-Plough (SPG), Yamana Gold (AUY) and Abbott Laboratories (ABT). 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,