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When Cramer talks, executives should listen

Mother always said make sure to wash in and around the ears. Maybe this is why. Maybe she knew that executives who listen to Jim Cramer tend to unlock value and send shares of their company higher; sometimes much higher.

Case in point; Angie's List (ANGI).

A couple of weeks ago Cramer said it could be incredibly valuable to an acquirer, and the right buyer could turn Angie's list into a contender. This week, reports suggest the company hired investment bankers to explore strategic options. In turn shares jumped almost 20 percent in a single day. What now?

Read MoreBoard members: Clean your ears, listen to Cramer

Turning attention to the broad market, nobody likes losing money, and on Wednesday, a lot of people lost money in stocks. Both the Dow Jones industrial average (.DJIA) and the S&P 500 (.SPX) dropped by more than 1 percent, with the Russell 2000 (.RUT) now 10 percent below its March high, putting the small cap index in correction territory.

Meanwhile, pros appear to be looking for more violent swings in the market; the CBOE Volatility index (VIX), Wall Street's fear gauge, ended up 2.5 percent.

Although Cramer realizes that the preceding metrics are worrisome, he doesn't want investors to panic. He's been through many difficult periods before, and he's developed a plan.

Read MoreCramer: How to survive the selloff

Jim Cramer on set of Mad Money
CNBC

If you're looking to put money to work right now, the "Mad Money" host suggests looking a consistent pipeline operators; companies that can be viewed as toll-road operators that benefit from the energy renaissance underway in North American oil and gas production.

And when it comes to the pipeline stocks, one of Cramer's favorites is Enbridge (ENB), the company that operates the world's longest crude oil and natural gas liquids pipeline system running through Canada and the United States.

Although Cramer understands that some of its pipelines in the United States may be facing delays, due to government approvals taking longer than expected, he noted, "I think this is the kind of stock where patience will be rewarded."

Also, Cramer returned to commentary made by Ford (F) earlier in the week. He worries the scope and impact of what was said hasn't been fully digested by investors.

"Ford dropped three bombs at once," Cramer said. "None of these (issues), I repeat, none of these were in the script a few months ago.

Read MoreAfter Ford dropped bombs, Cramer ducks for cover

Cramer also took an in-depth look at Zillow (Z), after News Corp inked a deal to acquire Move, the owner of Realtor.com.

"I think the deal means Realtor.com will no longer be the realtor's website. Now it will be Rupert.com," said Zillow CEO Spencer Rascoff, referring to Rupert Murdoch, the chairman of News Corp.

Instead, he suggested his site was growing faster and would continue to compete effectively against Realtor.com, despite News Corp's deep pockets.

In the Lightning Round, Cramer said shares of Harman International (HAR): were declining because investors have grown worried that auto sales peaked, and Harman makes audio products for cars. "However, when the smoke clears, I'm a buyer," he said. Also Cramer said that although he's bullish on Lazard (LAZ): he thinks the whole sector is facing headwinds. Therefore he'd wait and buy lower.