In this wild world of investing, Jim Cramer compared this market to a spoiled house-cat—it gets whatever it wants and is completely unpredictable. The days of it being a lovable man's best friend are completely over. That's a profound change in the landscape.
But even though you might get bit or scratched, Cramer wants you to make peace with the market.
Wednesday's decline was driven by low interest rates, when the 10-year Treasury fell to 1.8 percent, a big change from where they were last year in January.
Think this is a bad thing?
"In the 36 years I have been at this darned thing when interest rates go down, it's been good. Why? I'm counting the ways," the "Mad Money" host said.
So let people panic. Good. Let the stocks come down, and create a window of opportunity for investors. Their panic is your gain!
An employee inspects coils of copper rod.Munshi Ahmed | Bloomberg | Getty Images
As Cramer watched the price of commodities like copper sink to a five-and-a-half year low on Wednesday, he can't help but wonder if there might be more to the story.
Are investors just spooked by the infamous price of crude, or could there be something lurking under the hood that explains how copper, iron and oil can roll over and get scrapped so quickly?
"The answer is that there are several bigger trends going on that are really behind these amazing declines, and they are going to keep playing out," the "Mad Money" host said.
The first theme relates directly to the slowing demand from China. As China accounts for 40 percent world demand for copper, demand has reduced dramatically. However, production has not.
The second theme pertains to hedge funds unwinding their bets on commodities, as they now realize they were betting on China not copper. The third theme pertains to the perspective of plummeting oil prices. It is being viewed as a global weakness, when that is not the case.
Whenever a stock skyrockets in the middle of a stock market plummet, Cramer's attention is piqued.
Such was the case with Monster Beverage, which rallied 4 percent on Wednesday. This stock was caught in an analyst gunfight, when Wells Fargo downgraded it to market perform from outperform. Then Stifel raised its price target to $130, andCowen upgraded it to outperform from market perform with a $140 price target.
Monster was downgraded and upgraded all at the same time. What gives?
"When you're dealing with a hot stock, and you have dueling analysts, or in this case a three-way Mexican standoff, it always pays to take a look at both sides of the story so you can figure out whether the bulls or the bears are right," the "Mad Money" host said.
Cramer continued to search for the hottest biotech companies of the year with his series on the next generation of biotech.
Esperion Therapeutics was on fire in 2014, rallying 209 percent. It focuses on finding treatments for high LDL cholesterol and other cardio-metabolic risk factors. Its massive run has been related to its drug that lowers LDL cholesterol for patients who are unable to tolerate traditional statins.
To find out if this stock can keep running in 2015 Cramer spoke with Tim Mayleban, CEO of Esperion. He estimated that there are approximately 7 million to 8 million patients who suffer from muscle pain and weakness from side effects associated with taking statins.
"We expect to start our Phase 3 program later this year. We are still a few years out, but we have made huge progress over the last several years," said Mayleban.
One of the companies that is on the forefront of making the next generation of biotech possible is Charles River Laboratories. This company is a contract research organization that provides biopharma businesses with what they need to discover new drugs and conduct clinical trials.
Cramer has been a fan of Charles River because as the trend of outsourcing increases in the biotech and pharma industry, Charles River is at the center of it all.
Charles River CEO Jim Foster spoke with Cramer on the impact that the next generation tech companies are having, citing an increase in clients stemming from the use of technology.
"Virtual companies and companies that have technology platforms want to use outside providers and partners like Charles River to try to accelerate the process and get the drugs to market. We are enjoying our collaboration with these companies, both large and small," said Foster.
In the Lightning Round, Cramer gave his take on a few caller favorites:
Teekay Corp: "I say keep looking. I don't want you in oil companies, but if you are going to be in that area, at least be in the best of breed. That is Nordic American Breed, that has a big dividend boost…I don't like the group, but this is the one to be in."
STMicroelectronics: "No, you want to be in NXP Semiconductors. But that one is really, really high. It is a better company. I have been telling people for lower risk to buy Cypress Semiconductor because of the merger and because of the yield."