Cramer's 'Mad Money' Recap: Time to Change Your Strategy

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NEW YORK ( TheStreet) -- Buying stocks just because they have big dividends is over, Jim Cramer told his "Mad Money" TV show viewers Wednesday after the market reacted to the latest musings from the Federal Reserve.

Cramer said what will work best from here on out will be those companies that do better as the economy does better.

It may seem confusing that the markets now view the Fed's bond-buying program as a bad thing after rallying on the same news for the past four years. But that is what's happening, he said. The markets have lost faith that the Fed's artificially low interest rates will be enough to slow a growing economy.

Even today, as the Fed pledged to keep rates low, those same rates inched still higher. That means housing-related stocks and those with big dividends will be among the biggest losers, as they now once again have competition from bonds, which offer less risk than stocks, said Cramer.

On the flip side, Cramer said stocks that grow as the economy grows -- stocks such as the industrials, the banks and tech -- will be the places to invest as it's now clear the economy is moving forward, with or without Fed intervention. Big dividends can't offer enough protection anymore, Cramer concluded, so investors need to change their investment strategy starting tomorrow.

Executive Decision: Neil Cole

In the "Executive Decision" segment, Cramer sat down with Neil Cole, chairman, president and CEO of Iconix Brands ( ICON), purveyors of 33 well-known brands such as Joe Boxer, Umbro and Peanuts. Shares of Iconix are up 35% so far in 2013.

Cole said that some of Iconix brands are known worldwide and have been around for over 100 years. He said Iconix has been able to acquire these brands and now makes royalties from the products that leverage them.

When asked how the company was able to acquire a brand like London Fog, Cole explained that in that case, Iconix was able to buy it out of bankruptcy and already had $40 million in licensing deals ready to go before the company even took ownership of the brand. Other brands, like Umbro, were doing well but languished as part of larger companies. Cole said Umbro had 800 employees but under Iconix' model it now only has 20, with the manufacturers taking on most of the risk.

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