It seems to Cramer that executives are really starting to embrace the concept of a spinoff. Last year, there were 38 spinoffs, and dozens more are in the pipeline for 2016.
"I am a huge backer of this break-up strategy, in part because the stock market prefers smaller, easy-to-understand, pure-play type companies over big, complicated conglomerates," the "Mad Money" host said.
Cramer decided to focus on the value of one particular spinoff after reading piece of research from Goldman Sachs' chief U.S. equity strategist, David Kostin, who found that spinoffs tend to outperform the averages.
CST Brands is a chain of convenience stores and gas stations that was spun off by Valero in 2013. The idea behind it was that Valero could focus on its core refinery business, while CST could focus on the retail side.
"My view? With CST Brands trading at just 17 times next year's earnings estimates, the stock is not exactly what you would call cheap, but I am willing to give it my blessing for speculation," Cramer said.
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Another spinoff story that landed on Cramer's radar was Chemours. Before DuPont and Dow Chemical decided to merge, DuPont was trying to restructure itself by spinning off its titanium technologies, fluoroproducts and commodity-chemicals businesses as Chemours.
These businesses pertained to commodities, and DuPont wanted to focus on its higher-margin proprietary interests, which were less cyclical. So, it bundled them up as Chemours and kicked it to the curb.
For the first seven months of its existence, Chemours performed poorly. However, in the last few months, something strange happened. Chemours came back to life and has improved so dramatically that Goldman even upgraded it to a buy.
"If you want to make a bet that the global economy is going to get stronger and the dollar will continue to get weaker, then Chemours might be worth speculating on, given that the stock is so darned cheap," Cramer said.
Cramer still preferred the Dow-DuPont merger, which is why he owns Dow Chemical for his charitable trust.
In the Lightning Round, Cramer gave his take on a few caller-favorite stocks:
Baxter International: "I think Baxter is good. I do prefer EW. Why EW? Because they have an amazing device that makes it so you don't have to crack the chest cavity. That is why Edwards Lifesciences is better — that's for open heart surgery."
Blackstone Group: "You need an IPO market for that one to do better. But I'm not going to leave those guys. They are too smart. Therefore I am going to continue to say hold it. I know it has been very unrewarding."
Read MoreLightning Round: Hold it. They are too smart