Jim Cramer, a prominent market commentator, has advised investors not to be afraid of paying more for high-quality stocks, as they are less likely to fail. He also emphasized the importance of patience in investments, using Apple Inc's stock as an example, which declined from over $33 to nearly $23 eight years ago but has since risen over 8 times. He advised investors to stick with companies that have quality products, customer loyalty, a steady revenue stream, and a strong cash position.