First is Facebook, which has cranked out an amazing 40 percent-plus growth. It is pretty clear to Cramer that this company is just scratching the surface of its earnings power given that content is created by the users, and that is exactly what advertisers want. Ultimately, Facebook is just getting started overseas, so its growth is still at its infancy. Cramer could easily see Facebook earning $4 in 2017.
Amazon has also managed to be a winner at a time when retail is struggling. Best Buy, Nordstrom and Macy's are all suffering due to the lack of foot traffic in stores, and Cramer can only conclude that Amazon is taking a big share from them.
"Let's be honest here, horrific acts of terrorism really don't embolden people to go shopping. It could be a very Amazon Christmas," Cramer said. (Tweet This)
Netflix was down last week on news that Time Warner has interest in taking a stake in Hulu. But Cramer had a hard time believing Hulu is a threat to Netflix. He does not think Hulu is a real Netflix competitor, and investors agreed when the stock came bouncing back.
Google, now called Alphabet, is another application with so much power that hasn't yet been exploited. Cramer is beginning to wonder when the heck the company will think bigger with YouTube, and it could happen any day.
With all of these reasons to like FANG, why did Cramer say they can go down?
Because he has heard endless chatter from shareholders who complain that they are down, and it is driving him crazy.
Read more from Mad Money with Jim Cramer
Cramer Remix: Guard your portfolio with this stock
Cramer: There's poison bubbling under the surface
Cramer: Why this decline in oil is so frightening
"When you see the kind of panic that gets created whenever one of these stocks goes down ever so slightly, you know that there are way too many people in them who don't understand the very concept of stocks, let alone what these companies really do to make money," Cramer said.
Meaning, it is possible to have a perfectly good company with a stock that goes lower.
FANG represents four companies with great prospects, but if the stock market is selling off, they will go down with the gravitational pull, too.
Therefore, Cramer reminded investors that the market is a tide. He is a huge champion of FANG, but these stocks cannot stay up forever if the market is going down. And for those investors who are going to fret every time time the market takes a hit, Cramer says to ring the register on these stocks and move on. Anyone who cannot take the pain should just move on.