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NEW YORK ( TheStreet) -- You'll never hear an apology from the bears when they're wrong, Jim Cramer told his Mad Money viewers Thursday as he called out all those who have been predicting doom and gloom as the Federal Reserve ends its bond buying program.
Cramer said the critics of the Fed's quantitative easing had a laundry list of negatives that were supposed to happen, including runaway inflation, soaring interest rates and plummeting stock prices, to name a few. But in reality, the bears have been dead wrong.
Cramer said now that the Fed's stimulus is behind us, our GDP grew at a respectable 3.5%, with almost no signs of inflation. As for interest rates, they remain super low, making it a great time to buy a home or finance a car or truck. What about those plummeting stock prices? Most stocks seem to be doing just fine.
Cramer went on record praising the Fed for a job well done. Thanks to its keen eye on the economy, he said it's a great time to buy technology stocks including Apple (AAPL - Get Report) , a stock he owns for his charitable trust, Action Alerts PLUS. Cramer also gave the nod to the biotechs, reiterating buys on Celgene (CELG - Get Report) , Regeneron (REGN - Get Report) , Gilead Sciences (GILD - Get Report) and Biogen Idec (BIIB - Get Report) .
So Cramer said while the bears will never admit they are wrong, mainly because they're still hoping they're right, the rest of us should stay the course and keep buying into weakness.
Executive Decision: Strauss Zelnick
In his first "Executive Decision" segment, Cramer sat down with Strauss Zelnick, chairman and CEO of Take-Two Interactive (TTWO - Get Report) , which last night posted a 44-cents-a-share loss, which was better than analysts were expecting, along with higher revenue and a guidance bump for 2015. That news sent shares up 11% on the day and a full 46% since Cramer first recommend the stock back in January.
Zelnick said that while many analysts have traditionally felt the video game business is all about generating hit after hit, Take-Two actually derives 30% of its revenue from its expansive back-catalog of games, music and merchandise.
Zelnick said he has high hopes for the next installment of the Grand Theft Auto franchise, and expects the current game console upgrade cycle to be just as exciting as the last. He also noted the broadening appeal of gaming, with 48% of Take-Two's customers now being women.
Finally, when asked about the company's growing balance sheet, Zelnick said Take-Two now has enough cash to make acquisitions as well as invest in the existing business and still have money to buy back stock.
Cramer said that he remains a big fan of Take-Two.
Best of Breed Stocks
Best of breed stocks don't stay down for long, Cramer reminded viewers as he highlighted just a few names from the market's recent dip that are now well on their way towards a recovery.
Other Cramer faves include Honeywell (HON - Get Report) and 3M (MMM - Get Report) , companies that innovate regardless of the economic environment. He was also bullish on Action Alerts PLUS names Facebook (FB - Get Report) and Starbucks (SBUX - Get Report) .
Executive Decision: James Foster
In his second "Executive Decision" segment, Cramer spoke with James Foster, chairman, president and CEO of Charles River Labs (CRL - Get Report) , which just delivered a 6-cents-a-share earnings beat, sending shares up 2.6%. Shares of Charles River are up 7% since Cramer last checked in this past August.
Foster touted his company's acquisition in April of ChanTest as being a big driver of growth for Charles River going forward. He explained that ChanTest allows drug targets to be discovered without the need for animals. Once these targets are identified, drug companies can hone in on these areas faster. Foster called the acquisition a wonderful addition to their portfolio of services.
Foster also commented on the recent Ebola outbreak, saying Charles River did help in testing some of the drugs that are now being used to treat the disease.
Cramer said Charles River had a great quarter and made a great acquisition. With so many drugs needing their help in discovery and development, owning this stock makes a lot of sense.
In the Lightning Round, Cramer was bullish on Wabash National (WNC - Get Report) , Schlumberger (SLB - Get Report) , MGM Resorts (MGM - Get Report) , Alliant Techsystems (ATK) , Energy Transfer Partners (ETP) and United Parcel Service (UPS - Get Report) .
Cramer was bearish on Armour Residential (ARR - Get Report) , Westport Innovations (WPRT - Get Report) , Melco PBL Entertainment (MPEL) , Diamond Offshore (DO - Get Report) and YRC Worldwide (YRCW - Get Report) .
Executive Decision: Mike McNamara
In a third "Executive Decision" segment, Cramer sat down with Mike McNamara, CEO of Flextronics (FLEX) , a stock that trades at just nine times earnings despite just delivering a 2-cents-a-share earnings beat and having a monster stock buyback program.
McNamara said if there's one thing Flextronics has gotten really good at it's generating a lot of free cash flow. That's how the company has been able to continue buying back so much of their own stock over time.
When asked about the company's exceedingly strong results, McNamara noted that the windfalls came from execution. As a modern-day supply chain company, if you complete more items you get paid faster, and that's what happened this quarter.
With Flextronics having its hand in many industries -- from medical devices to automotive, aerospace and technology -- McNamara said he's seeing the global economy as stable and not falling apart.
Finally, when asked about the wearable device market in particular, McNamara noted that Flextronics currently makes more wearable devices than anyone in the world and is rapidly streamlining operations to make even more items as fitness trackers and smart watches go mainstream.
Cramer said he likes all of the industries in which Flextronics participates and continues his recommendation of the stock.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
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-- Written by Scott Rutt in Washington, D.C.
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