On the eve of Janet Yellen's talk in Jackson Hole, many investors are bracing for market turmoil. But it's not the rate hike Jim Cramer says to worry about, it's a frightened investor.

"I think the stock market's psychological impact — both negative and positive — is almost always underestimated by economists and investors alike," the "Mad Money" host said.

In many declines in the past, it wasn't so much the market event that caused major declines. The hype and fear surrounding the decline prompted volatility in the market.

"I have made no secret of the fact that I think the endless obsession with the Federal Reserve … has caused millions of people to miss this amazing run from the generational bottom seven-and-a-half years ago," Cramer said.

In fact, Cramer refuses to make investments based on what he thinks the Fed will do next. Dissecting every word from Fed officials wastes time for investors trying to find high-quality companies that can dominate a global economy.

So, Cramer warned not to overthink Yellen's speech on Friday. The placid nature of the stock market in the past week could help investors more than they realize, and could resume shortly after Yellen's speech, barring an all-out attack on the market by either major presidential candidate.

"The Fed I've known over the course of my life as an investor is a fickle beast that is often wrong," Cramer said.

It is no secret that investors no longer love Apple like they used to. Cramer believes the tech titan should put that massive $231 billion cash hoard to work and buy Sirius XM.

"My position has not changed: you should sit tight and own this stock, not try and trade it," Cramer said.

Apple needs to merge Siri with Sirius XM, Cramer said. Acquiring the under-appreciated Sirius XM could kill two birds with one stone.

The subscription satellite radio business could dramatically boost Apple's service revenue stream. Sirius could also give Apple a serious presence in the automobile infotainment space, which Cramer thinks is the next frontier for technology.

"Anything that puts Apple on the path toward owning the automobile would really brighten the company's long-term outlook," Cramer said.

Cramer also had faith that the free market will produce a competitive product and drive down the price of Mylan's EpiPen.

"There was a cheaper alternative at one point from Sanofi that would have prevented what I do perceive as Mylan's price gauging. I know because I bought it before the FDA took it off the market," the "Mad Money" host said.

Many investors demonized Mylan for its monster price increase of the EpiPen, but for Cramer, the problem is that it could do so in the first place. This is merely a reflection of a glitch in the system.

While he doesn't know for sure, Cramer speculated that Mylan put through the price increase simply because it hoped to make money until a competitor came along and offered a generic alternative.

Incidents such as the Democratic Party hacking and the hacking into the National Security Agency recently have made it clear to Cramer that the need for cybersecurity has never been greater than now.

But sometimes, cybersecurity comes with its own set of problems: who watches the watchmen? Companies like RedSeal, a privately held developer of security risk management, work to ensure that the companies people trust with personal information are doing so.

"Normally we only talk about public companies, but tonight we are going off the tape with RedSeal because I think this could be the next frontier in cyber protection," Cramer said.

RedSeal provides an analytics platform that helps to ensure the effectiveness of online customer security. It provides a digital resilience score that is modeled after the concept of a credit score in order to measure and quantify an organization's digital resilience.

Cramer spoke with RedSeal's CEO Ray Rothrock, who explained why companies like Cisco and FireEye enlist RedSeal for its security, even though they are considered security-oriented companies already.

"They have the best engineers in the world like everybody else has the best engineers in the world. But they understand that the complexity of these networks needs something extra, and they need RedSeal," Rothrock said.

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

Cyberark: "I know the group has gotten high risk. I didn't like that downgrade, I think Cyberark is doing well. But I've got to tell you, I understand. The high priced earnings multiple stocks have not faired that well ... but Workday did go up last night. Maybe there's hope here."

Carrizo Oil & Gas: "I think Chip Johnson [CEO] has done a good job, but I like these companies that have just done deals that are good. I like Concho. I like Concho better than Carrizo, I've got to tell you. I think that one is ready to ride. I also like Occidental for those who like a dividend. That's owned by my trust."