On the flip side, it's also worth speculating on great companies that have been left for dead by the markets, companies like the regional banks at the end of 2011. Cramer said he had disliked banks including US Bancorp ( USB) and Wells Fargo ( WFC) for much of 2011, but with share prices so low and employment on the rebound these stocks became attractive once again. It's not often a great company sees its shares misvalued by the markets, said Cramer, but it does happen, if investors know what to look for. He noted that secondary offerings of stock is one such case. Back in May 2009 Ford Motor ( F) did a secondary offering of stock at a 5% discount to the market and at a 24% discount to where it had traded just a week earlier. Offerings like this, said Cramer, are diamonds in the rough and investors need to get attuned to them. But Cramer also cautioned that companies whose fundamentals are bad or have horrible balance sheets need to be avoided at all costs.