Cramer names the next Berkshire Hathaway, really....

On tonight's MAD MONEY on CNBC, Jim Cramer gave the ultimate recommendation: he called Brookfield Asset Management Inc. (NYSE: BAM) the next Berkshire Hathaway (NYSE:BRK-A) but on more of an international basis. This stock has risen 744% since 1997 and 54% in the last 12 months. The company manages $70 Billion in property, infrastructure, land, and specialty funds. Cramer really likes the CEO J. Bruce Flatt.

This endorsement is sure to to generate some pretty favorable buzz. Brookfield's is based in Toronto, Canada and has a market cap is $22.25 Billion and its P/E ratio is 19.9. This company has been public since the mid-1980's and its largest run has come after a large drop in 2000. This is an aggressive conglomerate that operates in the US. and abroad. Since it has hardly seen any major pullbacks you could argue that it needs one, but the performance and management are hard to argue with. Shares rose 3% in after-hours trading to $39.41 and the 52-week trading range is $25.70 to $43.82.

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in any of the companies he covers.