Cramer spent some time reminiscing about the legendary John Whitehead, who ran Goldman Sachs at the time that the "Mad Money" host worked there.
"I was a lowly associate, not even on the totem pole, but beneath it. He simply took me to go meet as many people as I could and go learn as much as I could, and he'd say I did a great job in case anyone asked. He had a twinkle in his smile, and I was pretty blown away. He could have asked me to run into brick walls for him and I would have," Cramer said.
During the time that Cramer worked there, the strategy was for the firm to provide the capital to get the first part of an order done, or to shorten the first part of the order if you were buying, and then to find "natural" buyer for the rest of the order.
If Cramer were running the firm today, he would fire someone for doing this. The immense risk that the firm was taking to execute in this style, is just plain suicidal in his opinion. That is why the "Mad Money" host always says to buy on the third day.
So while it may be nostalgic to look back at the passing of Whitehead, one must do so with an understanding that things change over time. The world is a different place, and the old ways of doing things won't be making a comeback.
Cramer also took the time to do some housekeeping on a few stocks that callers asked about previously, for which further research was to be done.
First, was Pembina Pipeline. After doing further research, Cramer decided that even though the stock has fallen 36 percent since the collapse of crude in September, that is simply because people do not understand the company.
The "Mad Money" host is willing to bless investors taking a small position of the stock here, though his favorite player in this space remains Kinder Morgan.
Next up was AllianceBernstein. Cramer discovered that the company has gone through significant transformation in the past six years, into a more diversified global player. However, he is concerned that fixed income products account for 56 percent of the company's assets. That is too much of a fixed income exposure in his opinion. He prefers better financials, such as Wells Fargo or Goldman Sachs.
In the Lightning Round, Cramer also gave his take on a few caller favorite stocks:
Bristol Myers: "This company is fine. You need to take a long-term view on it. I've been recommending that stock since before they merged with Squibb."
Tal International Group: "Leasing fleets has had a very big run, and a lot of people know that this is a good business. I don't know if it can sustain that, given the way that the transports are going. I would be careful. I say, don't buy."
Read MoreLightning Round: This industry had a run—don't buy