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NEW YORK ( TheStreet) -- Politics is overrated as a way to predict stock performance, Jim Cramer told "Mad Money" viewers Monday on the eve of the presidential election.

What really matters to stock prices, he said, is management and a company's business model, not who happens to occupy the White House.

When it came to technology, both Hewlett-Packard ( HPQ - Get Report) and IBM ( IBM - Get Report) made the decision five years ago to focus less on hardware and more on software and services. Yet, IBM shares are up 75% since then while Hewlett lost 71% during the same time. Why the difference? Execution and management.

During the Obama administration, Apple ( AAPL - Get Report), a stock Cramer owns for his charitable trust, Action Alerts PLUS, soared, while Intel ( INTC - Get Report) floundered. Why? Apple chose to focus on mobile while Intel didn't.

Many critics cite President Obama as being bad for unemployment, and they'd be right if you looked at shares of JC Penney ( JCP - Get Report), Radio Shack ( RSH) or Best Buy ( BBY - Get Report), but not if you considered Wal-Mart ( WMT - Get Report), Costco ( COST) or Home Depot ( HD - Get Report). Execution matters, said Cramer.

Whether it's the banks or the drug stocks, two more sectors impacted by Obama, Cramer said investors will find winners, like JPMorgan Chase ( JPM - Get Report), another Action Alerts PLUS name, and losers like Merck ( MRK - Get Report). The same is true in the consumer good sector, with Clorox ( CLX - Get Report) soaring under Obama, while Procter & Gamble ( PG - Get Report) barely budged.

Cramer told investors they need to focus less on politics and more on the companies they own.

The Difference Is Carbon

While both presidential candidates want America to become energy self-sufficient, only one thinks we should do so with fossil fuels, Cramer told viewers -- which is why if you think Mitt Romney will pull off an upset Tuesday, there's a whole host of stocks they should consider buying.

The difference between the candidates comes down to carbon. Obama hates it, while Romney feels we need energy independence by any means necessary, which means using more coal and oil along with natural gas as a surface fuel. That's why Cramer said Romney investors should consider stocks like Peabody Energy ( BTU - Get Report) and Arch Coal ( ACI) in the coal patch, along with Schlumberger ( SLB - Get Report) and Halliburton ( HAL - Get Report) in the oil patch.

Cramer also recommended TransCanada ( TRP - Get Report) and Enbridge ( ENB - Get Report) as plays on the TransCanada pipeline, a project Romney supports, along with natural gas and oil shale players like EOG Resources ( EOG - Get Report) and Continental Resources ( CLR - Get Report).

All of these companies will be in demand if Romney wins, according to Cramer.

Jumping on the BP Bandwagon

Oil giant BP ( BP - Get Report) has come a long way since its Macondo oil spill in 2010, Cramer told viewers. The company was forced to pay over $50 billion in damages, which led to the shedding of nearly $35 billion in assets so far, he noted, assets that other companies have profited from handsomely.

In the refining space, Cramer said Marathon Petroleum ( MPC - Get Report) and Teroso ( TSO) picked up some of BP's refineries, leading to substantial profits for both companies.

Meanwhile, master limited partnerships like Linn Energy ( LINE) were able to acquire $2.2 billion properties so far, boosting that company's bottom line, as was Plains All American ( PAA - Get Report), which also purchased BP assets.

In the exploration space, Cramer said Apache ( APA - Get Report) has been the real winner, picking up BP prospects for a song, which led him to Plains Exploration ( PXP), the next drilling and exploration company to jump onto the BP bandwagon. Cramer said Plains has an eight-year plan to develop its new BP projects, something that should translate to shareholders' bottom line in the very near future.

Lightning Round

In the Lightning Round, Cramer was bullish on Walgreens ( WAG), Matrix Service ( MTRX - Get Report), Yamana Gold ( AUY - Get Report), SPDR Gold Shares ( GLD - Get Report) and Protein Design Labs ( PDLI - Get Report).

Cramer was bearish on Intel ( INTC - Get Report), Align Technology ( ALGN - Get Report), MGM Resorts ( MGM - Get Report) and McDonald's ( MCD - Get Report).

Executive Decision

In the "Executive Decision" segment, Cramer sat down with Irwin Simon, chairman and CEO of Hain Celestial ( HAIN - Get Report), the health food company that's up 216% since Cramer first recommended it in April 2010.

Simon said while Hurricane Sandy was tragic for many, it has lead to strong demand for Hain products as people stocked up before the storm, ate lots of the company's food during the storm and, unfortunately, had to restock after many lost power in their homes. Hain continues to donate baby food and other items to those in need and is working hard to resupply stores as quickly as possible, he said.

Turning to the company's latest acquisition, Simon noted that BluePrint, the organic fruit and vegetable juice company, is a big opportunity for Hain.

When asked about concerns voiced during the company's conference call about slowing growth, Simon said all of his company's products can't grow at 40% forever. However, in the case of Earth's Best baby food and Greek Gods yogurts, Hain is having trouble meeting demand, which is leading to lower sales overall.

Cramer said he continues to believe in Hain's healthy eating story and would be a buyer given the decline in the company's shares.

No Huddle Offense

In his "No Huddle Offense" segment, Cramer talked about the host of positive news the markets have been processing "incorrectly."

Cramer said Walt Disney's ( DIS - Get Report) purchase of Lucasfilm for $4.05 billion is genius, as were the company's acquisitions of Pixar and Marvel. He said those deals were also panned by critics, but have proven to big gigantic successes.

Cramer also praised the quarters from Kellogg ( K), Procter & Gamble ( PG - Get Report) and especially Ford Motor ( F), which is seeing strong sales from North America, Latin America and Asia.

Cramer said he'd be a buyer of all these names.

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

To email Scott about this article, click here: Scott Rutt

Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC

At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL, JPM and SLB.

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.