Cramer: Goldman will regret bet against Boeing CEO

CNBC's Jim Cramer advised investors to not bet against Boeing's Chief Executive James McNerney.

"You bet against McNerney like Goldman Sachs [has done], I am telling you, you'll look back and say, 'What was I thinking?'" Cramer said Monday on CNBC's "Squawk on the Street." "That's how good McNerney is."

Cramer made his remarks shortly after Goldman Sachs downgraded the airplane manufacturer's stock from "neutral" to "sell," saying its demand risk is the highest within its industry. Boeing's stock traded was down more than 2 percent in early trading Monday. (Click here to see what the stock is doing now).

"If you want to sell Jim McNerney, you want to sell Bill Belichick," Cramer said. "This guy is a competitive guy. When I had McNerney on, and I made a little joke about how he went to Yale and how Harvard is Airbus and he's Boeing and it's all collegial, he looked at me and he said 'No.'"

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Cramer also said McNerney has tackled each problem coming his way. "One of the reasons why we didn't like Boeing was because the defense business was bad; the defense business has been cleared up. Another problem is that they had a fault with the dreamliner, [and] it's kicking in right now," he said.