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Cramer's lightning round: Nobody ever made money betting against this CEO

Elizabeth Gurdus
CNBC. Jim Cramer zoomed through his take on callers' favorite stocks, including a pharmaceutical name spooking investors.

It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:

Abbott Laboratories (NYSE: ABT): "Yes, Abbott, yes. Look, this is [CEO] Miles White. Nobody ever made any money betting against Miles White. I'm going to be a buyer of Abbott."

Berkshire Hathaway, Inc. (NYSE: BRK.A): "Well, I think that I don't want to go against [Warren Buffett's] judgment because he's the best I've ever seen and I am sure that he's also taking care of the idea of who should go after him. So I like that stock on the both short and long term basis."

Valeant Pharmaceuticals (Toronto Stock Exchange: VRX-CA): "No, no, no. We don't want to buy that. Remember, that's just a call. They owe $30 billion. You're looking at, really, an option on the idea that maybe one day they'll be able to pay all that. I don't feel that comfortable about that situation, but I always welcome management to come on the show."

Chesapeake Energy Corporation (NYSE: CHK): "Now, people have to understand: it is a play on the weather. If it's really hot, it will go up. And that's what you've got. There really isn't much more to it. I thought it would be a colder winter than it was and it didn't go up, now it's got to be hot. It's very binary. I prefer situations that have actual growth, but I like Chesapeake as a call on the summer."

Cara Therapeutics, Inc. (NASDAQ: CARA): "Alright, people are upset. It's, like, stalled after being up more than 70 percent. We had the company on [at] $17, $18. It's come back down. I am a big believer in any sort of pain medicine that does not cross the blood-brain barrier, so I am going to say that I like Cara."

Weatherford International (NYSE: WFT): "No, it's not my favorite, and I just think that the trade has occurred and it's time to move on."

American Airlines Group (NASDAQ: AAL): "Well, I mean, American's fine. Look, I like Southwest (NYSE: LUV) first, [it's in] my charitable trust, which you can follow on ActionAlertsPlus.com – big conference call Wednesday – Southwest Air's our choice. And then I would go with Alaska [Air] (NYSE: ALK), and then I would go with Delta (NYSE: DAL), and then I would go with American, and then I would go with United (NYSE: UAL), and then I would go with JetBlue (NASDAQ: JBLU). That's my order of how I like the stocks right now."

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