Mad Money

Cramer Remix: The stock with the world's best balance sheet

Cramer Remix: The stock with the world’s best balance sheet

Monday marked the one-year anniversary of the market hitting an all-time high. Since that time, volatile action has permeated stocks as they seesaw. That action inspired Jim Cramer to go back to basics and assess the 30 stocks of the Dow Jones industrial average to see if there was anything worth pounding the table on.

The exercise reminded Cramer just how good most of the companies are.

"All the negative chatter would most likely have you walking away from this market in fear, but I think you should stay the course, because if the global economy gets better, we could have a heck of a run here," the "Mad Money" host said.

With this in mind, Cramer gave his take on each Dow component in alphabetical order:

Caterpillar: When the stock gets to a 5-percent yield and is selling in the mid-$60s, Cramer is willing to take a look.

General Electric: It's stalled here, a victim of its own success. Cramer is buying more for his charitable trust and plans to become more aggressive as oil goes higher. He recommended investors also buy aggressively.

Johnson & Johnson: It has what Cramer considers to be the best balance sheet in the world and fantastic management. Money managers are praying this stock comes in. If it does, Cramer wants investors to pounce.

Read More Cramer's Dow Jones deep dive: The best stocks to own

Apple CEO Tim Cook
Justin Sullivan | Getty Images

Any time there is anything positive said about Apple, the stock quickly becomes condemned. There was no clearer example of this, to Cramer, than the $1 billion stake that Berkshire Hathaway just took in the company.

Within minutes of learning about Berkshire's 9.81 million-share position in Apple, Cramer heard rumors that it wasn't a position under Warren Buffett. Many thought it was either under Todd Combs or Ted Weschler, two investment managers who help oversee the Berkshire Hathaway portfolio.

In other words, they didn't attribute the position to even count under the name of the Oracle of Omaha.

"I say, give me a break. This is the first time I can ever recall that you have to asterisk a Buffett buy," the "Mad Money" host said.

Read More Cramer: When Apple will stop being the worst loved stock in the universe

Chairman and CEO of MGM Resorts International Jim Murren
Jim Watson | AFP | Getty Images

Casino stocks have also been on the rebound, especially MGM Resorts International. MGM is the world's largest gaming and hospitality company that owns such names as Bellagio, MGM Grand, Mandalay Bay and the Mirage in Las Vegas. It also has a casino in Macau, the place to gamble in China.

MGM has rallied 34 percent from its lows since the bottom in February. Some of that is because the company monetized real estate assets by spinning off land in 10 of its casinos as a real estate investment trust (REIT), MGM Growth Properties.

Another reason for the rally is because of the solid quarter it reported a few weeks out, which suggested to Cramer that 2016 could be a good growth year for the company.

Cramer spoke with MGM's chairman and CEO who compared MGM Growth Properties to the largest triple net-lease REIT, Realty Income Group.

"We birthed this REIT with $550 million in cash flow, I think our REIT is going to be bigger than them. I think ours is going to be the biggest five years from now," Murren said.

Cramer also drew attention to what he calls one of the quietest bull markets out there. The cell tower stocks, led by American Tower, Crown Castle and SBAC.

The group started with major declines in 2016, but since the bottom have been on fire.

"The cell tower stocks have gotten their groove back, and I think American Tower and Crown Castle in particular have a lot more room to run," Cramer said.

However, long term, Cramer would choose American Tower over Crown Castle and SBAC for the moment because of the organic growth in an industry that has more demand than supply.

In the Lightning Round, Cramer gave his take on a few caller-favorite stocks:

Zoe's Kitchen: "Like the business model of Zoe's. It's one of the retail and restaurants that has been working. Buy, buy, buy."

Kinder Morgan: "I think you hold it. I don't have a lot of faith in it, but that group is moving up. That one hasn't moved up yet because it does have a trust problem is the way I would look at it."

Read More Cramer: The group is moving up, but this stock has a trust problem