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NEW YORK (TheStreet) -- You need to remove all emotion from the investing equation, Jim Cramer announced to his Mad Money viewers Thursday. Investing is about doing your homework, using key metrics and cold, hard facts to make informed decisions.

Case in point: Procter & Gamble (PG - Get Report), which shed 4% today after the company announced that it's just not delivering on the metrics that matter. Cramer said in the consumer packaged good space the metric that matters is organic growth, sales that stem from genuine home-brewed innovation. On that metric, Procter delivered only 1% this quarter while rival Mondelez (MDLZ - Get Report) delivered 4% growth, which is why Mondelez shares popped a quick 5%.

Then there's Facebook (FB - Get Report), a stock Cramer owns for his charitable trust, Action Alerts PLUS, and one that was clobbered for a quick 1.8% today. Cramer called the sellers of Facebook "uninformed."

Facebook could earn $3.75 a share in 2017 and is growing at 30% a year. That means that Cramer, along with most money managers, would be willing to pay twice the growth rate, or 60 times those 2017 earnings, which puts a price on Facebook at $225 a share for what today the "morons" were selling for $95 a share. That's emotion, Cramer said, not investing. Even at half that growth rate, Facebook is easily worth $112 a share.

Speaking of emotion, let's talk about Whole Foods Market (WFM), which fell by 11.6% today as same-store sales decelerated to just 1%. Rival Kroger (KR - Get Report) has accelerating same-store sales of 5%. Yet, Whole Foods still trades at 19 times earnings, compared to Kroger at just 18 times earnings. "That makes no sense," Cramer concluded. Whole Foods deserved to fall, and should fall even more.

Executive Decision: David DeWalt

For his "Executive Decision" segment, Cramer spoke with David DeWalt, chairman and CEO of FireEye (FEYE - Get Report), the cybersecurity company with shares that have rallied 10% since Cramer last checked in back in May.

DeWalt said FireEye had another strong quarter with top line growth of 57% and was able to diversify its offerings both in different industries and geographies this quarter. The best is yet to come, he said.

When asked about competition from rivals like Palo Alto Networks (PANW - Get Report), DeWalt explained the two companies have different offerings and really don't compete head to head. He said there's plenty of room for both companies to do well.

DeWalt also offered some clarity on FireEye's recent certification from the Department of Homeland Security. He said the certification, which FireEye was the first company to receive, offers it legal protection from breaches caused by acts of terror. DeWalt said this is important because as the cybersecurity industry grows, it needs things like cyber-insurance and strong partnerships with companies and government agencies.

Finally, DeWalt commented on FireEye's recent CFO departure by saying the outgoing CFO had more startup and growth experience, and now that FireEye is maturing it is bringing in new board members and leadership with the experience needed for this stage of the company's growth.

Hung Up on Cell Phones

The hot money was betting big on cell phones going into 2015, Cramer told viewers, but now that China is slowing, that money wants out in a big way.

Cramer said there are a lot of moving parts to the Chinese slowdown and subsequent stock market crash. Everything from iron to steel to autos and liquor and even cell phones is now being called into question and no one really knows the truth.

When it comes to cellphones, it appears that sales are indeed slowing down in China for everyone except Apple (AAPL - Get Report), another Action Alerts PLUS holding. But even for Apple the question may be when, not if, sales begin to slow.

That's why sales of Qualcomm (QCOM - Get Report) have slid 13% in 2015 and why Qorvo (QRVO - Get Report), another semiconductor maker, fell by 14% today alone, as investors try and figure out the truth.

But Cramer said he's sticking by his former recommendation to just own Apple for the long term and not trade it, even if the road in the short term may get a little bumpy going into 2016.

Executive Decision: David Weinberg

In his second "Executive Decision" segment, Cramer welcomed David Weinberg, COO and CFO of Skechers USA (SKX - Get Report), the sneaker and apparel maker that blew away the estimates with a 54-cents-a-share earnings beat on a 36% rise in revenue and a 12.9% increase in same-store sales. Shares of Skechers popped 16% on the news and are now up over 443% over the past two years.

Weinberg said that Skechers' strategy is going exceptionally well, with new products, distribution and advertising firing on all cylinders. He said Skechers' celebrity endorsements are also helping to drive demand as every one they've signed genuinely uses and loves their products and the celebrities are recognized worldwide.

Speaking of worldwide, Weinberg said Skechers continues to build its geographic footprint and is gaining new territories around the globe. When asked about China, he said that Skechers is still a small player in China, but it's starting to grow and has seen no problems in that country so far.

Cramer continues to be a big fan of a stock he says is still not expensive, even after today's monster move to the upside.

Lightning Round

In the Lightning Round, Cramer was bullish on Fitbit (FIT - Get Report), Texas Roadhouse (TXRH - Get Report), Denny's (DENN - Get Report) and Kinder Morgan (KMI - Get Report).

Cramer was bearish on Garmin (GRMN - Get Report), Linn Energy (LINE) and TAL International (TAL - Get Report).

Executive Decision: Chuck Bunch

In a third "Executive Decision" segment, Cramer sat down with Chuck Bunch, CEO of PPG Industries (PPG - Get Report), the chemicals and coatings maker that posted a 3-cents-a-share earnings beat. PPG also announced that Bunch will be retiring later this year.

Bunch explained that while he will be stepping down from day-to-day operations, he will continue to be actively involved in PPG's organic growth and acquisition strategies.

When asked about its acquisition of Comex in Mexico, Bunch said PPG had no exposure in architectural coatings in Mexico and Comex provided them a huge growth opportunity that is only building in momentum.

Turning to growth in China, Bunch said that while auto sales in China were excellent in the first quarter, they did slow in the second quarter, and the company now expects 3% to 4% growth in autos versus previous estimates between 6% and 7% growth.

Bunch said that even without him, PPG will remain committed to its dividend, which was increased by 7% last quarter.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

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