Cramer also shared his rules about how investors should view the seemingly endless information streaming from the internet.
"You don't need me to tell you that the internet has been kind of a double-edged sword," he said. "These days, everything is searchable. But for all of the ways in which the internet makes the process easier, it also creates new problems."
The No. 1 problem? Cramer has always maintained that investors have to be able to explain their stock picks to other people; if they can't, they shouldn't buy the stocks in question.
"Buying stocks is a solitary event — too solitary," he said. "But we're all prone to making mistakes, sometimes big ones. To err is human. If you want to cut down on these mistakes, you should force yourself to articulate to someone else, not just yourself, why you like a stock."
He also argued that "it pays to be a critic" when it comes to Wall Street. They hype can get so raucous around certain stocks that investors can lose sight of what really matters, so don't believe everything you hear from market commentators, he warned.
"Bottom line? Always be able to explain your stock picks to another human being and never take anything on faith in this business, not from the analyst community and not ... from the money managers who love to come on TV and talk their book," Cramer concluded.