Plenty of Wall Street watchers were worried about the Federal Reserve on Wednesday, and of course, Jim Cramer was there to set the record straight.
The Fed announced that it would end its quantitative easing program on Wednesday, and in return people sold their stocks.
Yes, there are always some jitters about what the Federal Reserve will do. But we all knew this would happen eventually, and the market quick reaction should not be a surprise. But then again, that is the problem.
"There's always some knucklehead who didn't expect the most widely telegraphed Fed action in recent memory to actually happen, and that's the source of today's lunacy," Cramer said.
The market is just not as dangerous out there as it seems, the "Mad Money" host said.
Stocks that Cramer picks are not going to be affected as much by the Fed bubble bursting. He often picks stocks that have taken into account the Federal Reserve, and thus won't have their profits impacted.
Along with Wednesday being a game-changing day at the Fed, it was also a big day for Hewlett-Packard (HPQ). The "Mad Money" host spoke with Dion Weisler, the current executive vice president of Hewlett-Packard's printing and personal system business who will soon become the CEO of HP Inc.
Though the split previously announced in October is far from being completed, there is already big news in the pipeline for Hewlett-Packard. Dion announced that the company has come up with its own 3-D printing ecosystem, along with a new computing platform designed to create an easier hands-on experience called Sprout.
Cramer thinks this is a game-changer, and so does Dion.
"It is those three things combined together, that really makes this revolutionary. This could quite possibly be the trigger for the next industrial revolution. I think that is profound," added Dion.
The stock market may be an complex animal with many complicated facets, Cramer keeps it real. Let's face it, everything comes down to trust.
Do you believe Virginia Rometty and IBM (IBM) will do anything but buy back stock to hit company estimate targets?
"These are the issues swirling around all of these stocks, and I think they have to be dealt with case by case. Only then can you figure out whether a company's stock is worth owning or worth avoiding," Cramer said.
Wednesday was a significant day not only for the Fed, but for Polaris (PII) as well. It marked its 60-year anniversary of the company. The maker of all-terrain vehicles, snowmobiles and motorcycles reported one week ago, and stomped on the numbers with a blowout quarter.
Cramer celebrated the anniversary and great quarter for Polaris by speaking with Scott Wine, chairman and CEO of Polaris Industries, in front of the New York Stock Exchange.
The big question remains, how is a company like Polaris able to grow in what Cramer describes as a "no-growth environment?"
"It's certainly not a no-growth environment if you don't allow it to be, and that's what our team does. We work to make growth happen in a difficult environment," Wine said.
The same could also be said for Eaton (ETN), a classic industrial that has been beaten down by such low expectations that it was finally able to win with a 6-cent earnings beat. As a result, the stock is up more than 5 percent in a day.
This company is becoming a cash machine, in Cramer's opinion, and they could certainly put that money to work in an abundance of ways. Could this be the first of many good quarters ahead for Eaton?
Cramer dug into what could be in store for the company and spoke with Sandy Cutler, CEO of Eaton Corp.
"We were really pleased with the quarter, and I do think it sets a great base, not only for the fourth quarter but for ahead next year," Cutler said.
With stocks like Eaton and Polaris crushing expectations, Cramer shared his view on callers' stock favorites in the Lightning Round:
Invensense (INVN): "I think there's a suspicion that they have some real bad inventory backlog. But they're always welcome to come on the show to explain the situation."
CVR Refining (CVRR): "I don't trust it. That yield is at 15 percent, and I don't trust it. I regard this as a red flag. I'm challenging that yield."
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