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NEW YORK ( TheStreet) -- "With the NFL football season starting tomorrow, it's time to pick our fantasy stock portfolio," Jim Cramer announced to the viewers of his "Mad Money" TV show Wednesday.

Donning his "Mad Money" football helmet, Cramer said picking a diversified portfolio is a lot like picking the best players for each position you need for a football team.

For his running backs, Cramer chose ConocoPhillips ( COP), a stock which he owns for his charitable trust, Action Alerts PLUS, and Nucor ( NUE). He said these stocks are the work horses of this portfolio.

At quarterback, Cramer said he wanted someone with many skills, and that's Berkshire Hathaway ( BRK-B). This company provides a railroad and an insurance company, along with pipelines, steel and a host of other industries.

Apple ( AAPL), another Action Alerts PLUS name, was drafted for Cramer's wide receiver spot, as he reiterated his $300 price target on the stock. Also in at wide receiver, Teva Pharmaceuticals ( TEVA) and Medco Health Solutions ( MHS).

For his defense, Cramer chose the SPDR Gold Shares ( GLD) ETF, for now through October 1st, then the iShares Silver Trust ( SLV) for the remainder of the season.

Finally, as his all-star kicker, Cramer picked General Mills ( GIS), another Action Alerts PLUS favorite.

Cramer said with a portfolio as diverse and as talented at this one, investors will enjoy a great football season.

Natural Gas Play

In an exclusive "Executive Decision" segment, Cramer spoke with John Sherman, president and CEO of Inergy ( NRGY), the country's fourth largest distributor of propane gas and a master limited partnership currently yielding 7.8%.

Sherman said while he still likes the propane business, Inergy's recent acquisition of Tres Palacios Gas in Texas creates an opportunity to take the company to a new level. He said the acquisition not only puts Inergy on the map for the natural gas business, it also makes them the largest storage provider of natural gas in the country.

When asked whether this acquisition adds additional risk to the company, Sherman said the storage business is 100% fee based, just like Inergy's propane business, and is agnostic to the price of the commodity. He said Inergy plans to grow and develop the Tres Palacios assets for at least the next 20 to 30 years.

Sherman also noted that the acquisition also gives Inergy a competitive advantage over other players given the location of the Tres Palacios storage facilities. He said they sit right between the gas shale fields, with their huge reserves, and the high demand markets of the Northeast and Texas. He said it also gives Inergy exposure to Florida and the Midwest markets as well as several power generation markets.

Cramer said with a 7.8% yield, Inergy is a must own stock, especially given its recent decline as a result of the company's secondary offering that will help it pay for the Tres Palacios deal.

Am I Diversified?

Cramer spoke with callers to see if their portfolios have what it takes. The first caller's portfolio included: Copano Energy ( CPNO), Bank of America ( BAC), Windstream energy ( WIN), EV Energy Partners ( EVEP) and Ford ( F).

Cramer said Copano and EV Energy Partners are two energy companies. He recommended selling Copano in favor of a food stock.

The second caller's top holdings included AT&T ( T), Loews ( L), Pepco Holdings ( POM), B&G Foods ( BGF) and Clarcor ( CLC).

Cramer said this caller has done some great work and has a great portfolio.

The third caller had Citigroup ( C), Potash ( POT), Microsoft ( MSFT), Verizon ( VZ) and Intel ( INTC) as their top five stocks.

Cramer said this portfolio can't have both Intel and Microsoft. He advised selling Microsoft and picking up an industrial company.

The fourth caller's top stocks were AT&T ( T), Altria ( MO), Dominion ( D), Southern Copper ( SCCO) and United Technologies ( UTX).

Cramer said this portfolio was also terrific.

Mad Mail

In this segment, Cramer told a viewer that the stock of Citigroup ( C) is under a lot of pressure as the government sells its stake. But he said the stock is trading below book value and will see $5 a share once that selling is done.

Cramer told another viewer that he's not bullish on Chinese auto stocks, and would only recommend Ford ( F), or the upcoming IPO of General Motors. When asked about platinum and copper stocks, Cramer said he's not a fan of platinum, but Freeport McMoRan ( FCX) remains his favorite gold and copper play.

Finally, when asked about Cree ( CREE), Cramer said he's still bullish on the company for its long term LED light bulb exposure and would not be a seller on the short term weakness in LED TV's.

Lightning Round

Cramer was bullish on Nike ( NKE), Range Resources ( RRC), Kinder Morgan Energy Partners ( KMP), JPMorgan Chase ( JPM) and NVIDIA ( NVDA).

He was bearish on Lululemon Athletica ( LULU).

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

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

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For more of Cramer's insights during the Lightning Round, clickhere .

At the time of publication, Cramer was long ConocoPhillips, Nucor, Apple, General Mills.

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.

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