now closing this question, thanks for those who tried to answer.

Im going to repost this mangled question hopefully cramer might spot it.

sorry im a really horrible typist.

"that should have cant find the link not can."

should have read

"that should have read cant find the link not can."

that should have cant find the link not can.

Found this after googling some of those terms:

"A multiple is affected by three kinds of risk: political, earnings and
inflation. Cramer eliminated earnings risks from the equation, said that
inflationary ..."

unfortunately, this was copied from the google link which was an RSS feed so i
can find the actual link (im sure its expired) but im still missing the formula
itself anyone here got it yet?

just remembered another one of the risk variables, i think it was inflation
risk. ring any bells yet?

yeah i know one of the risks was political and i believe the segment where he
gave this formula was about predicting multiple contractions and expansions. I
was just first watching the show when i saw it so the memory is a bit foggy (i
barely knew what a P/E was back then!) but seems to me a very useful thing to
keep in mind when trying to calculate stock values in times like these. thanks
for anyone has helped by trying to answer so far.

I dunno. Never heard of any other way and I have read three of his books and
watch the show everyday.

However, you could look at the M = P/E equation and realize that there is a
strict relationship between each of the variables. If one changes, the others
change. Therefore, you have the risk of multiple contraction and/or earnings
revisions downward; either of which would cause the price to go down.

i know about the strait forward one but cramer has mentioned another way of
deriving it that involves 3 different risk variables thats what im interested
in.

I explained it in detail in this question:

http://www.stockpickr.com/members/view/answers/11765/