Cramer's 'Mad Money' Recap: America's the Best Place to Invest (Final)

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NEW YORK ( TheStreet) -- "America is the worst place to invest, except for all the others," Jim Cramer told the viewers of his "Mad Money" TV show Wednesday.

He said investors who are puzzled over the market's resilience are thinking too narrowly. "The U.S. may be bad, but the rest of the world is far worse," he said.

Cramer said investors used to flock to China, but fears that the Chinese economy is grinding to a halt are now keeping investors aways. Japan, he said, once a strong performer, is now a no-growth economy. Australia may be great, but it depends on China for exports, and India is riddled with hyper-inflation.

Spinning the globe doesn't make things much better, said Cramer. South America is a mess, he said, sans Brazil, which is now fully valued. And in Europe, most investors are simply in denial about how bad things really are.

And that leaves good old U.S., said Cramer. Now that the Democrats are committed to jamming through health care reforms, the world is betting on a big pro-business Republican win in November. Cramer said that's why our stock market has become so resilient.

The situation here is just not as bad as it is everywhere else, he said. And in the event our economy ever creates a few jobs, it'll be off to the races, he concluded.

Natural Gas Play


In the "Executive Decision" segment, Cramer sat down with Donald Sinclair, president and CEO of Western Gas ( WES), a master limited partnership that's a subsidiary of Anadarko Petroleum ( APC), whose CEO Jim Hackett appeared on Tuesday night's show. Western Gas has a 6% yield and trades just off its 52-week high.

Sinclair said that Western, whose footprint is mainly in the Rocky Mountains, typically follows the growth of Anadarko, which has led to a 10% increase in distribution last quarter. The company is now expanding into the Marcellus shale region in Pennsylvania, where Anadarko is planning on building some 300 miles of new natural gas pipelines.

Sinclair said that 70% of the company's gross margins come from fee-based services that don't rely on the price of natural gas. He said the company has successfully hedged the other 30% to minimize risk.

When asked about the state of natural gas in this country, Sinclair said he's intellectually confused as to how we got to where we are today. He said that although natural gas hits every one of the country's economic and environmental objectives, we're still not even close to using it to its potential.

Cramer said he likes the prospects of Western, along with his other two favorite master limited partnerships, Kinder Morgan ( KMP) and Enterprise Partners ( EPD).

Big Footprint

Despite a big jump in its stock price, Cramer said footwear maker Deckers ( DECK) is still dirt cheap.

Deckers reported astounding fourth-quarter results, earning $5.22 a share, 94 cents better than Wall Street was expecting. The company also issued bullish guidance, stating that sales trends have remained strong into the first quarter.

Cramer said Deckers still has a lot of room to grow, despite a 48% gain since he last recommended it on Oct. 13. Cramer said Deckers has been growing on the heels of its Ugg brand, which the company continues to broaden and diversify. Ugg has tremendous brand loyalty, he said, and with Deckers successfully managing their inventory, few Uggs are being discounted.

Cramer said Deckers is still dirt cheap, trading at just 12 times its 2011 estimates, despite a 22% long term growth rate. With the company opening new stores all the time, and prospects for international expansion, Cramer said Deckers still has a lot of room to run.

Am I Diversified?

Cramer spoke with callers to see if their portfolios have what it takes. The first caller's portfolio included Bristol-Myers Squibb ( BMY), General Mills ( GIS), Lockheed Martin ( LMT), Entergy ( ETR) and Verizon ( VZ).

Cramer said this portfolio was perfect and had great dividend yields to boot.

The second caller's top holdings included Boise ( BZ), Williams Partners ( WPZ), Pepsico ( PEP), Supervalu ( SVU) and BP ( BP).

Cramer said this portfolio was also terrific.

The third caller had Apple ( AAPL), Windstream ( WIN), US Airways ( LCC), Citigroup ( C) and Compass Minerals ( CMP) as his top five stocks.

Cramer also blessed this portfolio as diversified.

Lightning Round

Cramer was bullish on Staples ( SPLS), AT&T ( T), Human Genome Sciences ( HGSI), EnCana ( ECA), Ford Motor Credit ( FCZ) and Hansen Natural ( HANS).

He was bearish on Office Depot ( ODP) and American International Group ( AIG).

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

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

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For more of Cramer's insights during the Lightning Round, click here .
At the time of publication, Cramer was long Bristol-Myers Squibb, Pepisco, BP, Apple.

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