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Jim Cramer is standing back to watch the market fall in love with everything these days. It's like it took a fistful of antidepressants and is applauding everything that comes along, especially Warren Buffett.
"In fact, this market's so welcoming it's almost comical, and I could argue that it's starting to get a little too sanguine about every move a CEO makes," the "Mad Money" host said.
And while some of the love stems from the natural rotation of stocks due to a strengthened economy, Cramer is worried that this could also be a recipe for frothy disaster.
However, if Cramer really thought that the market was in dangerous territory, he would tell people to sell like he did back in 2000 or in September of 2008.
"I can't tell you to bet against the market just because we finally breached Nasdaq 5,000 and are headed to all-time high territory. I wish people were more critical, of course, but the fact is, there are good reasons for the bullishness."
One cohort that caught Cramer's attention was the retailers. But in an environment of cheaper gasoline providing more disposable income for consumers, was it really that much of a surprise?
The first was Ross Stores, which teased that it could be a winner thanks to the West Coast port slowdown. As the big dog retailers couldn't get merchandise to the shelves fast enough, it will fly off the shelves of Ross.
Next was Nordstrom, which initially got hit when it reported earnings. However, when investors heard that it was wrapping up spending boat loads of cash on expanding its online presence, the stock picked up again. Cramer anticipates that the earnings per share will start to rebound again dramatically.
However, the "Mad Money" host was struck by one thought when he read the best and most insightful letter ever from Warren Buffett this weekend: Why don't we bother with any of the other letters from other CEOs?
"In fact, I can't even remember the last time I found one with any genuine insight or critical reasoning. I certainly can't recall one where mistakes are highlighted in a transparent fashion," the "Mad Money" host said.
One could argue that the reason why Buffett can be so open in his annual letter is because there is no one to challenge him. He is the company, and he cannot be challenged by directors or lawyers. Even the shareholders really report to him in the end.
And while this might be true, Cramer couldn't help but wonder if things in the business world could be different if we approached other CEOs the way that Buffett is approached.
Perhaps, if the good CEOs were allowed to stay on longer like Buffett has or if people treated them as if they were their companies the way that Buffett is treated in relation to Berkshire, things could be different?
"Clearly something's gone awry in the business world if we can praise this one man for everything he does, and yet every other chief executive feels shackled into being nothing like him," Cramer said.
Or how about the NXP acquisition of Freescale? Cramer certainly had no problem with that! NXP Semiconductors stock was up 17 percent on Monday on news that it will acquire Freescale Semiconductor. Cramer thinks this stock behavior is strange: Normally it's the target of the takeover that soars, not the acquirer!
Then again, this isn't a plain vanilla acquisition that hit the market. This one could breed a powerhouse, so it only makes sense that stocks wouldn't act like any old normal acquisition.
"Honestly, I think that NXP's acquisition of Freescale, for $11.8 billion in cash and stock, may be the best semiconductor merger yet. In fact, I think this deal could be a game changer," the "Mad Money" host said.
The two companies were a match made in heaven, and Cramer sees enormous cross-selling opportunities. Currently, NXP is the top maker of semiconductors for infotainment and keyless ignition systems. Freescale is dominant in digital networking chips, radio frequency devices and sensors.
Put these companies together, and Cramer sees that they will dominate the auto market at a critical time when cars and things are rapidly becoming more connected.
In a time where commodities are being slammed left and right, how do you play gold? Cramer has always recommended gold as insurance for a portfolio. It will protect from both inflation and economic turmoil.
But what the heck to do you do today, when you have growth without inflation?
Cramer still thinks that for the purpose of diversification, having gold in a portfolio is still very important. Randgold is Cramer's top gold pick, as he considers it to be the best-run gold miner in the field.
Randgold had a rough quarter when it reported back in February, but 2014 was a tough year overall for gold. Could Cramer's favorite play on go higher? Cramer spoke with Randgold Resources CEO Dr. Mark Bristow to find out.
"The first thing is that we really wanted to get our house in order and ensure our profitability. So you will see in our annual report where we presented these results you talked about, it's about a 10 year plan and being profitable at $1,000 an ounce for gold for 10 years…It's about harvesting that capital, delivering returns to our shareholders who have been very patient," Dr. Bristow said.
In the Lightning Round, Cramer gave his take on a few favorite caller stocks:
American Movil SAB: "Too hard, no. If you want telco, just go with Verizon and get that yield. That's too hard with American Movil, you don't know what's going to happen down there."
Bank of America: "I am concerned about the bank stress test, but this is the fourth largest position for Warren Buffett. He makes note of it and he says he likes it. That said, I like his other big bank. I'm aWells Fargo fan. That's what my charitable trust owns and I wish it were even bigger."