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Cramer Remix: This side of Wall Street thinks Trump is dangerous

Jim Cramer knows that stocks have had a big run, and some of them could fall. But when he spent the weekend looking over the charts, he found 10 groups flying high that indicated that the market could have more room to run.

"I believe these big money managers are cynical haters, not skeptical tire kickers. They aren't wary buyers. They are unwary sellers. They despise the setup and find themselves wanting to sell everything at a moment's notice," the "Mad Money" host said.

In fact, Cramer likes how disappointed so many money managers are. He believes that many hedge fund managers are traditional Republicans by nature and can't figure out President Trump, and therefore think he is dangerous.

But Cramer doesn't view the stock market through the lens of the White House. The global economy has gotten better, and that is what matters to him. Almost every market he follows is up, and none of these countries have Trump at the helm. They simply have better business conditions. With low interest rates, it was bound to happen.

Bulls running
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Cramer reminded investors that when they see a stock with an absurdly high yield, they need to stay the heck away from it.

"I don't care how tempting the dividend looks or how cheap the stock seems. A super-high yield that is totally out of whack with its peers is almost always a sign that something is very, very wrong and you need to run, not walk away as fast as you can," he said.

Cramer also hears questions about how much investors should pay for stocks. It has become a serious dilemma, and the banks are in the center of it all.

It was just a year ago that Wall Street valued bank stocks from their book value, especially ones impacted the most by regulation. Book value refers to what a stock would be worth if the company liquidated the business tomorrow.

A good example of this was Bank of America's valuation. Last year at this time, the stock traded between $13 and $14 a share, and management argued that it deserved to be valued by its book value of around $15.

Before the election, with Hillary Clinton in the lead, Bank of America flirted with a new $16 book value. But then the surprise election results changed everything, and the stock flew to $20. The stock closed at $25 on Monday, and Cramer said to let the position ride.

"Until everyone understands the new normal where, after a decade, we can at last value Bank of American on its earnings, then I think this one's got more room to run," Cramer said.

Frontier Communication Corp
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Sometimes a company has several different businesses under one roof, creating a situation where the sum of the parts is actually worth more than the whole. When that happens, spinning off one of the divisions as an independent company can make a killing for shareholders.

Manitowoc Foodservice, maker of kitchen equipment for the restaurant industry, rebranded itself as Welbilt, officially trading under the symbol WBT on Monday. Cramer spoke with Welbilt's CEO Hubertus Muehlhaeuser, who explained the reason for the name change.

"I think it was a 'Back to the Future' strategy. We wanted to cut off the last tie to the Manitowoc company, and Welbilt was actually the leader in our industry in the last century … It resembles what we are. We are in the heart of the kitchen, and Welbilt is in the heart of the kitchen, so it was natural," Muehlhaeuser said.

Cramer was very worried about the pizza space going into Domino's Pizza's earnings last week, as weakness from Yum Brands' Pizza Hut and Papa John's indicated that there was a price war heating up.

That was all proved wrong when Domino's earnings knocked it out of the park, including a 12 percent increase in domestic same-store sales.

On Monday, he spoke with Domino's CEO Patrick Doyle who said the investments that the company has made in its stores, food and technology during the past few years are now paying off both internationally and domestically.

"We view ourselves as a work-in-progress brand," Doyle said. "We continue to find places that we can improve the experience for the customer and as long as we are making investments that do that, that can permanently improve the experience for our customers and we think we are going to continue to grow."

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

AT&T: "I would be a buyer, 4.67 percent yield with a good business strategy. I think it makes sense to be a buyer of AT&T."

Cabela's: "I thought they were going to go the way of being taken over. I don't want anything in retail. Literally, nothing. I mean, nothing."