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"Staying ahead of the pack sometimes means buying stocks that are out of favor," was the lesson Jim Cramer taught to the live studio audience of his "Mad Money" TV show Friday.

He said the market is now clamoring for the defensive stocks, the same ones he recommended earlier this week when they were hated. But he said now is not the time to buy these names when they're already up 10%.

Cramer said one of the most important lessons he's learned about investing came from his days selling ice cream at the ballpark. "Get it while it's cold," was his mantra back then, and he said it needs to be investors' mantra now.

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Cramer said the markets can't seem to get enough of the food, drug and beverage stocks, with companies like Abbott Labs ( ABT and ConEd ( ED, along with General Mills ( GIS and Pepsi ( PEP, two stocks which Cramer owns for his charitable trust, Action Alerts PLUS, all up strongly.

But Cramer said the time to but these names was last week, when they were unloved. He said investors need to sometimes own stocks when no one else likes them. That's why he recommended BP ( BP and JPMorgan Chase ( JPM, two more Action Alerts Plus names, along with Apple ( AAPL as the next stocks to own, ones that will be sought after by Wall Street again soon.

Internet Video Plays

Sometimes there just aren't any good ways to invest in the latest trends, Cramer told his audience during a special "family affair" edition of the show.

Such is the case with explosion of Internet video. Cramer said that while Internet video is estimated to account for 60% of all Internet traffic by 2013, and sites like YouTube, Hulu and MLB.com continue to growth like gangbusters, there are no other investable companies out there outside of network bellwether Cisco ( CSCO.

However Cramer said there are some names are tradable. For speculation Friday, he told investors to do research on a basket of Internet video names. He said he's not recommending these names individually, but feels they may ride the video wave to profits in the short term.

Cramer said Ciena ( CIEN, which makes optical switching equipment, is one of his favorites, and is perhaps the only one outside of Cisco that makes the grade for more serious investment.

Other names in the basket included Infinera ( INFN, Akamai ( AKAM, Cavium Networks ( CAVM, EZchip Semiconductor ( EZCH and NetLogic ( NETL.

Cramer advised taking the usual speculative precautions when considering these names, like using limit orders and not paying up or buying after hours.

A Portfolio for Kids

"The best way to teach your kids about money is to open a brokerage account," said Cramer.

The days of teaching money through passbook savings accounts at your local bank are long gone, he said. The goal is to get kids interested in investing, and the best way to do that is with stocks.

Cramer unveiled his "kid" portfolio, the five stocks he would buy for any child. The portfolio included McDonald's ( MCD, for its 3.4% dividend yield, Disney ( DIS, a world-class franchise, Hasbro ( HAS, a consist grower VF Corp ( VFC, maker of many popular clothing brands and an Action Alerts Plus stock, and Apple, a stock he said all kids will grow into over time.

Cramer said this portfolio will keep kids engaged since it includes stocks that they interact with almost daily.

Family Therapy

Cramer offered some "family therapy" for audience members whose families couldn't agree on which stocks to own in their portfolios.

He told a family considering Bank Of America ( BAC, Apple ( AAPL and Anadarko Petroluem ( APC that he thought BP ( BP, a stock which he owns for his charitable trust, Action Alerts PLUS, would be a better choice than Anadarko. Otherwise, he said all three stocks would be excellent in a diversified portfolio.

Lightning Round

In the Lightning Round, Cramer was bullish on MetLife ( MET - Get Report), Union Pacific ( UNP - Get Report), Eaton ( ETN - Get Report), First Solar ( FSLR - Get Report), FirstMerit ( FMER, United Technologies ( UTX - Get Report), Honeywell ( HON - Get Report), Walgreens ( WAG and CVS Caremark ( CVS - Get Report).

He was bearish on Norfolk Southern ( NSC - Get Report) and Trinity Industries ( TRN - Get Report).

Check out the latest edition of "Cramer's Take onTop-Searched Stocks" on Stockpickr.

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, click here .

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At the time of publication, Cramer was long Abbot Labs.

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.