CNBC's Jim Cramer is tired of analysts and commentators harping on how expensive the stock market has become.
"The more I think about certain calls, certain stocks, certain valuations, the more I recognize that we really have to stop relying so much on the idea of the 'market,' because the valuations for many big-capitalization stocks just aren’t that expensive here," the "Mad Money" host said on Thursday.
Besides some of the most talked-about stocks — specifically Amazon, Netflix and Tesla — the rest of the market, including high-profile plays like Facebook and Apple, just isn't that pricey, Cramer argued.
Facebook's ongoing privacy scandal, for one, has weighed on the social media giant's shares to the point of making the stock "cheaper than it deserves to be," he said.
"We're at a strange time," Cramer reflected. "The vast majority of commentators seem to think the market is ridiculously expensive. To me, the only way the market’s truly expensive is if you believe that 2019 is going to be a nasty, horrendous year where there’s a full stop to all businesses, a la the Great Recession from a decade ago."
But as it stands, 2019 doesn't look like it's going to be a difficult one for stocks or the companies behind them, the "Mad Money" host said.
"I’m making the case that perhaps we should just value the market as it is, with a lot of cheap big-cap stocks and some expensive ones," he said. "When you do that, you don’t need to fear the Fed or the tape. It’s a nice, benign and ... I think lucrative way to look at things."