Trian Partners, the hedge fund founded by activist investor Nelson Peltz, says chemical giant DuPont is under earning and should split itself up. Jim Cramer says there is a big under current here which is DuPont, under CEO Ellen Kullman, has not been able to sell divisions correctly, there is a lot of fat at the company, between $2 and $4 billion, and she guided down earnings a couple times and that's where Peltz has it right. Cramer says look at Heinz, Kraft and Wendy's - Peltz has brought out tremendous value in those companies. Trian has also tried to gain board representation and Cramer says it sounds like a proxy fight is coming.