Cramer Remix: The stock to buy next week

Next week is one of Jim Cramer's favorite weeks of the year for earnings. Investors can finally get past chatter of the Federal Reserve and politics and focus on the fundamentals of earnings.

Unfortunately, Cramer isn't a big fan of many of the stocks that report.

"My advice? Listen, learn, find out. Sometimes there is not that much money to be made. Next week is one of those times," the "Mad Money" host said.

With this in mind, Cramer shared the stocks and events on his radar for next week:

Thursday: Bank of America, Delta, GameStop analyst meeting
Delta: Cramer thinks the airline stocks are dirt cheap. Investors will find out just how cheap they are when Delta reports. Usually, if a stock sells at just six times next year's earnings, it means that the company cannot make the earnings.

"In this case, I think Delta is doing so well and the stock is so low that opportunity may be knocking, especially if you believe, as I do, that oil I staying lower longer. If there were a stock to buy before it reports next week I think it would be Delta," Cramer said.

Read MoreCramer's game plan: Only stock I like next week

Cramer constantly worries about the stocks in his charitable trust. One sign of danger for him is when the stocks in his portfolio go down when the market is going up. That is a sign to him that someone knows something he doesn't.

"Stocks aren't houses. You can't fall back and live in them if you have mortgages on them. They just get taken away," Cramer said. (Tweet This)

So what is the magic trick to bail you out of a bad situation?

Find your own form of discipline to make sure you are watching your stocks and have a game plan for when things go wrong. For instance, Cramer has a system of ranking his stocks when things are good, so this way he can hedge himself when they go awry.

"Discipline trumps conviction," Cramer added

He also thinks it is important to be willing to "circle the wagons" on a few high-quality stocks, and be willing to buy them when they are down so you can get a better average price for your earnings.

Read More Cramer: Saving yourself from a world of pain

A typical question that an investor will ask is what to do with a stock after it has had a hideous decline. The first response that Cramer will give is to ask why they bought the stock in the first place.

Why does he ask that? Because one of his cardinal rules is to never turn a trade into an investment. If there is one thing he wants investors to take away from "Mad Money," it is to never confuse these two concepts.

That means understanding the purpose of why you are buying a stock.

If you bought it for investment purposes, that could mean you should buy more. If you bought it for trading purposes, then that means they were waiting for a specific event to occur and should only buy it once.

Read MoreCramer 101: Don't fool yourself trading

Another mistake that Cramer sees commonly is that many believe they are supposed to be fully invested at all times. He has even met money managers who think they are supposed to have all money invested.

This is complete nonsense!

Having cash on hand when the market corrects is the key to protecting your portfolio. Because sometimes the market will stink and there is nothing to do but just sit in cash.

"In fact one of the chief reasons that I outperformed pretty much every manager in the business during my 14-year run as a professional money manager is that there were substantial blocks of time when I was largely in cash," Cramer said.

Cramer considers cash to be the most underrated investment of all. Whenever he sees the market spike, he starts to sell a little and trim here and there to build up a supply of cash. He sells on strength and buys on weakness.

Otherwise, Cramer fears that investors could wind up selling their best stocks just to hang on to their worst stocks because the higher-quality stocks stopped going up—a big mistake.

Read More Cramer's rules: Most underrated investment ever