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NEW YORK ( TheStreet) -- "Speculation is not a vice, it's a virtue," Jim Cramer told the viewers of his "Mad Money" TV show as he celebrated the fifth-anniversary of his show in front of a live studio audience. He said that a lot of fantastic stocks start out as speculations, if you know how to pick them. Cramer said that a year ago, many people were scared of speculating on stocks like Ford ( F) at $4 a share, or Bank of America ( BAC), a stock, which he owns for his charitable trust,
A Changing of the GuardIn a surprise appearance, NBC Nightly News anchor Brian Williams stopped by "Mad Money" to congratulate Cramer on five years of being the go-to guy for all things financial. Williams said that after this historic financial and economic meltdown, he expects the economy to remain in the news on his show for many years to come. Williams also commented on the anger most Americans feel towards Wall Street and towards Congress. Citing a Recent NBC/Wall Street Journal poll, Williams said that 50% of Americans now want to see their current elected officials out of office, regardless of their performance or affiliation. Williams said that come November, he expects to see Congress full of rookies and first-term representatives as voters cast out the incumbents who represent the status quo. When asked why the news seems to cling to every word President Obama has to say, Williams said that its hard to recall the Bush presidency anymore, and Obama will likely forever be linked to the financial health of the country.
A Watch List for InvestorsCramer reflected on what's changed most during his five-year tenure at "Mad Money." He said that there are five things that investors need to watch out for as they invest their money going forward. Cramer said the first thing that's changed is the president. With the government owning everything from auto companies to banks, insurers to mortgage lenders, Cramer said what Obama says matters more than ever. He said the the next 1,000 points on the Dow Jones Industrial Average, for example, will likely hinge on whether healthcare reforms pass Congress. Cramer said Apple ( AAPL), a stock which he owns for his charitable trust,
Q&ACramer took questions from the studio audience. When asked about what his worst mistakes on "Mad Money" were, Cramer said that Level3 Communications ( LVLT) was one name that did horribly, but NYSE Euronext ( NYX) was perhaps his worst call, as he rode the stock from $60 to $120 and back to $60 a share, before advising people to sell. When asked whether Freeport McMoRan ( FCX) or Southern Copper ( SCCO) was a better stock, Cramer said Southern Copper had much better prospects.
Lightning RoundCramer was bullish on ArcSight ( ARST) and Transocean ( RIG). He was bearish on Vulcan Materials ( VMC), Vimpel Communications ( VIP) and Avon Products ( AVP). -- Written by Scott Rutt in Washington D.C. To watch replays of Cramer's video segments, visit the