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NEW YORK (TheStreet) -- If this market was in grade school it would get an "F" for not paying attention, Jim Cramer said on Mad Money Monday as he opined on the idiocy of a market that is incorrectly valuing stocks every day.
Cramer noted once again that Boeing (BA), a stock he owns for his charitable trust, Action Alerts PLUS, is among the worst in the Dow Jones Industrial Average for the year. Yet, right on cue, the company's CEO announced at the Farnborough International Airshow today that things are great at Boeing and the company's only problem is meeting demand.
Then there's URS Corp (URS), a stock that's apparently not worth anything to the analysts who cover it but today was worth a full 12% more after the company received a tender offer.
The trend continues with Citigroup (C), said Cramer, a stock that's perpetually hated, and with Facebook (FB), another Action Alerts PLUS holding that seems to be up and down big every week on no news at all.
Cramer called out the analyst who upgraded Apple (AAPL) today. He said this guy downgraded the Action Alerts PLUS name in February at $75.88 a share but now seems to like it over $96.
Cramer said every one of these examples could've been easily spotted by individual investors with a little homework, which is why he always advocates picking your own stocks and not simply investing in an index fund.
An Exciting Development
Not everything in the market has become unpredictable, Cramer told viewers. There's one tried and true way to make money and that's with corporate breakups. That's why the news that Relational Investors, an activist firm, has taken an 8.5% stake in Manitowoc (MTW) is so exciting.
Cramer explained that Manitowoc is a well-run, 100-year-old company that got its start in shipbuilding and ice-packing, and now has evolved into a powerhouse that makes cranes and food service equipment. Manitowoc makes everything from tower cranes to boom trucks, Cramer noted, and that side of the business accounts for 60% of sales. Its food service business, the other 40%, makes ice machines and other equipment for restaurants.