Cramer's making a bold call on oil

Cramer's said a lot of things, but never like this
Cramer's said a lot of things, but never like this   

Even someone as opinionated as Jim Cramer has to take time to be reflective sometimes. That's because just taking time to listen to what the executives at companies are really saying can go a long way, especially when it comes to oil.

"Stop, look and listen, because you might understand that while the averages are punk…there's a positive future that can't be lost in the strong-dollar, Federal Reserve mumbo jumbo that's possessed all the professional money managers out there," said the "Mad Money" host.

Cramer reflected back to 1997 and 1998, when there was a terrible currency crisis stemming from Asia. Yes, it took down entire sections of the stock market but not the actual economy.

He warned investors to keep their eyes on the big picture, because that is what matters at the end of the day. Yes, the currency crisis back then left scars on some of the trades that Cramer did, particularly those tied to the Tai Bhat and Russian Ruble, but he lived through it.

And when the smoke cleared, Cramer realized that he hadn't taken advantage of the perks. Meaning, he could have taken the opportunity to buy Disney,Under Armour, PepsiCo or Starbucks and taken advantage of the 4 percent yield on Ford.

Read More Cramer: Stop worrying about stocks—Time to listen!

Jim Cramer on set of Mad Money
CNBC

Almost a decade ago, Cramer told investors to try to get a piece of an IPO for a small company called Under Armour. Sure enough, the stock took off on the first day of trading and hasn't looked back since.

So, while there are always inevitable days like Wednesday when the averages are down, Cramer doesn't want investors to be scared away from high-quality stocks like Under Armour.

"Under Armour is what I like to call a stealth technology company," said the "Mad Money" host.

And, of course, Cramer attributes the success of Under Armour to CEO Kevin Plank. Will Plank's stock be just as strong of a competitor in the stock market as it is with performance apparel? Cramer spoke with Plank to find out.

Plank elaborated on the clear vision that Under Armour has to expand its digital presence into the future of the company: "Because we had this great healthy shirts-and-shoes business, we were able to build this new layer of adding digital to our business that will give us this new complexion that I think that presents us to be ready for the next decade of growth."

Read More Cramer's top IPO call that shot through the roof

If there is one thing that Cramer has learned in a decade of "Mad Money," it's that when there is a marketwide selloff, it's time to jump in and gobble up the best-in-breed companies on weakness.

One of those long-time Cramer fave stocks is Disney. The "Mad Money" host considers it to be the quintessential growth stock of our era. It just keeps pumping out strength in all four of its business areas: movies, theme parks, network and cable television, and merchandising.

Its 11 brands have generated more than $1 billion in annual sales, thanks to blockbuster hits like "Frozen," "The Avengers" and "Guardians of the Galaxy."

Cramer spoke with Bob Iger, executive chairman and CEO of Disney, to see if his brilliant leadership will extend for shareholders in the opening of a new Disneyland in Shanghai.

"We are going to be really careful about how we manage our first guests because we think that a demand from the most populous city in the most populous country in the world is going to be really high. There will obviously be a high curiosity factor as well," Iger said.

Jim Cramer on set of Mad Money
CNBC

Cramer has been waiting with bated breath for some sort of collapse of oil. With all these talks of a $48 oil price causing oil companies to go bust, where the heck is the collapse?

Since the collapse of oil prices, 25 "troubled" oil companies have found a way to raise money through the stock market. In fact, these companies have come to market with a stunning $8.3 billion to help get them out of debt and fund drilling.

But that's not only it. Cramer sees three key life preserving factors in the oil patch that has kept it afloat:

No. 1 Banks haven't been requiring a ton of equity to lend money to the oil players.

No. 2 Drilling budgets have been cut dramatically, but so has the cost of drilling. It has been reduced to $20,000 a day from $29,000.

No. 3 The amount of time to drill a well has also been cut substantially. Thanks to new inventions in technology, and drilling companies selecting only their easiest properties to drill, what used to take 25 days now only eight.

"Put it all together, and I'm making a bold call here. If oil stays even at these reduced levels, I'm calling this the crash that never happened," Cramer said.

At this point there is so much capital sloshing around in the oil patch, Cramer thinks that the state of the oil patch is certainly far from disaster. And yes, he would rather still buy restaurant and supermarket stocks right now, but investors can breathe easy knowing that the end of the oil world is not here.

"The oil stocks may not be any good, but there's no catastrophe waiting in the wings, and that's what matters," he said.

Read More Cramer: Forget oil—crash hasn't happened & won't

In the Lightning Round, Cramer gave his take on a few caller favorite stocks:

Oasis Petroleum: "Even down here I still think you are playing with fire there. No, thank you."

Union Pacific Corp: "Union Pacific is a good buy because it is down a lot and terrific. Leg into it!"

Read More Lightning Round: Here's how to look at Yahoo

Cramer's New Book