Jim Cramer stood in awe at what good management can really accomplish, when he looked at the earnings of various companies on Friday.
Unfortunately those earnings were obscured by fear among the broader averages on what it could mean if China really collapses.
"I can't rule out a Chinese collapse. When I see commodities in a free-fall and all of this negative data out of the most populous country on Earth, I know that I can't ignore it," the "Mad Money" host said.
After all, those who were oblivious to the shenanigans of Greece paid a heavy price—and China is a heck of a lot larger than Greece.
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Many portfolio managers now believe that China could fall apart to the point where it could take down the rest of the world with it, but Cramer's not that pessimistic.
Instead, he prefers the approach to the unraveling of China the same way he does when the market has a down day. He would rather use this selloff as an opportunity to buy high-quality companies with strong management that will ultimately be dragged down, even if they don't have any Chinese exposure at all.