Lightning Round

Next came the "Lightning Round." Here's what Cramer had to say about some of the stocks that callers offered up during this fast-paced segment:

Time Warner ( TWX): "I want you to own it. They continue to deliver."

Scholastic ( SCHL): "The earnings have been too inconsistent there. I'm going to have to say don't buy."

Cliffs Natural Resources ( CLF): "I like the yield. Buy, buy, buy."

ARM Holdings ( ARMH): "I'm worried about them. I think that Intel ( INTC) will challenge them and they've become overvalued."

LSI Logic ( LSI): "This one's getting better and better. I think this one should be bought."

No Huddle Offense

In his "No Huddle Offense" segment, Cramer compared Warren Buffett's Berkshire Hathaway ( BRKB) to the upcoming Facebook IPO.

Cramer said that while Berkshire has made investors a lot of money in the past, the stock has underperformed the markets over the past decade, largely due to the fact that Buffett doesn't like the prospect of dividends or breaking up the company. Berkshire has no growth, said Cramer, and the markets have noticed.

Facebook, on the other hand, has a ton of growth and the markets will be rewarding it with an overvalued IPO, said Cramer. Berkshire, however, will remain undervalued as it struggles with growth. Cramer called Buffett's hands-off approach out of step with what the market wants, while Facebook's hands-on approach is exactly what the market is looking for.

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

To contact the writer of this article, click here: Scott Rutt.

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At the time of publication, Cramer's Action Alerts PLUS was long AIG.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 is related to the specific opinions expressed by him on "Mad Money."

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