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NEW YORK ( TheStreet) -- With the markets taking a rare pause thanks to Hurricane Sandy, Jim Cramer told his "Mad Money" TV show viewers Tuesday that he's had a chance to catch his breath in the middle of a busy earnings season to make some observations. Cramer said that for the past few years, U.S. companies have been aggressively trying to distance themselves from the sluggish U.S. market, opting to "go global" and expand into Europe, China and emerging markets. That strategy worked well, he said, up until a few years ago when Europe's financial mess brought the global economy to a screeching halt. Now, the evidence is clear. Those companies that now rely on business overseas are doing poorly, while those still based largely in the U.S. are flourishing. That's certainly the case with Ford Motor ( F), a company whose strength in the U.S. was almost completely wiped out by losses in Europe. Banks like US Bancorp ( USB) and Wells Fargo ( WFC), a stock he owns for his charitable trust,
Buying Into News CorpBreaking up is easy to do, Cramer reminded viewers, as he highlighted yet another company that's splitting itself apart in an effort to unlock value. He said his charitable trust,
Know Your IPOIn the "Know Your IPO" segment, Cramer told viewers that it's time for a new housing-related stock, which is why the upcoming IPO of Restoration Hardware is a very intriguing play. Cramer said there's no denying the rebound in housing is at hand, but the question remains of how best to invest in it. Everything from home builders like Toll Brothers ( TOL) and Lennar ( LEN) to home furnishings retailers like Ethan Allen ( EA) and Pier 1 Imports ( PIR) have already run up big for the year. That's why the little-known IPO of Restoration Hardware is so attractive. Cramer explained that Restoration Hardware is a high-quality play on the luxury home market, as the company's 83 stores sells high-end accessories and home goods in a similar fashion to how Williams-Sonoma ( WSM) sells high-end kitchen items. While a private company, Restoration Hardware has been in the middle of a notable turnaround, closing many of its low-end mall stores and replacing them with larger, freestanding galleries. Those new stores sell a lot more than just hinges and doorknobs too, as the company has expanded into high-end furnishings to rival Ethan Allen. With its new focus on high-end consumers, Resotration Hardware was able to post an impressive 27% increase in same store sales, compared to only a 7.4% increase as Williams-Sonoma. Cramer said the IPO is expected to price between $22 and $24 a share, valuing the company at 25 times earnings. That's more than Williams-Sonoma at 16 times earnings, but given the company's stellar growth, it deserves its premium, said Cramer, which is why investors should try and get in on the IPO.