i think it's going higher. >> karen? >> i took some money out of bank of america. i feel like we are in a different phase of the evolution of the bank of america story, that they are out of crises. now it's what can we do as a bank facing the same >> thanks so much for watching. we'll see you tomorrow at 5:00. "mad money" starts right now. my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." want to make friends? just trying to save you a little money. my job is not just to entertain you, but to educate and teach you, so call me. sometimes, sometimes, even a grizzled veteran like me can get dazzled. today, i was listening to john

paulson as my partner chatted with him in new york. and on a day when the average is led by housing related names inched higher, the dow up 19 points, nasdaq advancing a point 32 percent, this is a perfect time to expound on the interview because everything that's happened now and that could happen in the feature into perspective and i think it can make us a lot of money. first of all, paulson's been in the money management business for about ten years. you probably never heard of him until the housing hey day. he sorted everything subprime housing. it made billions upon billions of dollars. you may have heard about him late. the foreign fund that represents 2% of the gold fund. even you professionals out there, i know jealousy -- and

many are jealous of this mild mannered man because of his amazing success. now that you know how he made it big, if you were in the room when carl posed his questions, you could hear a rush because he's the most bullish man on earth. not only was his first idea, but his second best idea. buy a second home. paulson's, say if you want to make a leverage bet, buy hard hit areas of the country. the same you bet against if you hated subprime lending in colorado, florida and nevada. guess what we heard today? paulson, a ha, you might say, he's already made enough money, you're late to the party. perhaps the most important is the opposite. a segment of the mortgage bounds

he once hated. now that housing is appreciating at a 12% clip, these are performing and springing back to life. that's what he owns. it's because we're building very few homes, half as many as we may need and only one-third. the asset class has much higher to go. it's not jim cramer's mad homes. the only stock this came up was r rlgy. that's because the largest realtor in the country the firm that took private and disadd venn ta jous time is ringing the register on its last 25 million shares. how about paulson. he's now the largest -- worth

9.9% of the company and he's not going anywhere. he's not selling stock, his interest. we had the ceo on. sure, i prefer lower. everybody prefers everything lower, but i like paulson's conviction. and conviction is really important here. because paulson's going way against the grain with this house. it's against the theory that housing has peaked. as well as the possible appreciation of the home once you buy it. those three are going with the home buyer, not against him and paulson doesn't see that things. in other words, unlike virtually the entire universe with perhaps the home builders themselves, paulson does not think the near term negatives can -- that

really matters because every bank that has reported has expressed a thought about whether the cliff. was going to fall off the cliff last time or really kind of fall off everest and he knew much more than the bullish banks at that moment, so what else? let's talk about those banks. we heard today that bank of america is rolling back. it's deeply involved in the fabric of housing. you could say that bank of america bought the junk paulson assured. now, b arac owns home, mortgage bonds. paulson makes you feel while short-term caution can be warranted, short-term -- same with wells fargo.

which is still going up for a remarkable quarter which happens to be, yes, wells fargo is any charitable trust large position. you know what else is really in the paulson sweet spot of mortgage lending? i get puzzled over this, but how about the largest ensurer of mortgages in the country? since we spoke to the ceo in june. sure, it's been hurt by a short-term slowdown. however, think of the long-term, please. this country, which is among the best specks in 2013, is ensuring the best paulson thinks is coming back the life because of the rise in housing prices. i'm throwing in jnw. pilot ever people continue to write negative articles about them. that's given them the run to

join. how about the home builders? i don't know if they're as good at zoning. the others have too much going. i don't want to bet against the man and he's got the other side of the trade going. here's the bottom line. paulson, the man who is a bit short of housing, has got the big long on housing and you should go with him, not against him in this against the current green that could still be a terrific multiyear win. benjamin in rhode island. >> yeah, hi. amazon really warrant a $140 billion market cap where there's negative earnings and it's been in the game for almost 20 years? it's not a start-up anymore. >> here's the problem with that. i could have used that when it was at 80, 180, 280. here we are, 308.

everyone has hit me with this short for a long time. i have said it's a great american company who i have said it's a great american company, but many people have told me well, you've got to short this company and that has never intrigued me and i'm not going there. i know many people would say it's over, get out. i'm just not going to do that. ken in south carolina. ken? >> boo-yah, dr. cramer. >> boo-yah. >> i'm a long time owner of csx. i know the earnings have come out. should i buy more? >> i like the quarter. i think michael ward told a good story. it's a good stock, a good railroad man. i'm a buyer of the name. california and stanley. >> i had grupon back in february, then the ceo got fired and then it dropped and then the shares dropped and now, the it's

back up to close to $9 a share. is it too late to buy? >> you know what? this has been a big percentage gain. the co-ceo is terrific. i still find the company challenged. when they came in, that fs the trade. i'm not going to recommend investment, but now it's got good management. when paulson speak, we got to listen. stop being so jealous. it's just one fun that's not so good. the guy is great. you know, but the most important thing, i would go with him. and against the grain. housing is still a terrific investment. we'll be right back. >> coming up, big idea or bad idea. wall street's heavy hitters were

in the dugout today and they named names from pepsi to caterpillar. cramer's being hind the plate making his call. next. and later, what the heck? declining revenue. a disappointing outlook, but yahoo! screams high ernie way. what's behind the move? and can the new ceo keep up the climb? plus, tower of terror? shares of american tower got a scare today when a wall street research firm called for a 40% decline in the stock. tonight, cramer calls up the ceo to decide which direction this company could be headed. all coming up on "mad money." [ kitt ] you know what's impressive?

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when you get the sheer fire power we had in the today's hall pha conference, you have to sit back and digest what you've heard. exploding with ideas, first, there were multiple speakers. i have to tell you that when i look at investors who imlate, investors who we have studied here, i know that if you adjust another ledge tear inventor, you have made a ton of money. that's why this interview was so electric today. about the only activist that you can make the statement.

that's why i was mesmerized when he said pepsico could trade to $128. the fast growing component of the old kraft, both of which peltz has had stakes in. when you have a stock hitting all time highs, you're not a -- frankly, i am from the ain't broke don't fix it school of business. okay? that's the mantra for me and that is pep to a tee. yesterday, i had a premonition. so i suggested that if any company should buy, if the underperforming coca-cola, this was said more out of frustration in peak with coca-cola and an actual strategic purchase and i think that -- perhaps there

could be a huge wall created. i don't know. more importantly, even if the perspective, provided that he runs it, what if we step back. say i believe you can follow peltz. i think he's right, but for a different reason. i like the snack and drink combo. he thinks the company's -- a spokesperson said they're happy with the current structure, so i don't care if it does if it splits up, peltz thinks it can go higher.

part of our invest in america series, told a terrific story to help science to create better seeds, science to create better foods and better safety materials. i agree. hence why dew point uponts is o charitable trusts, other than to say the word paint. he was crooked, coy. but he repeated, paint. here's what you need to know about paint. it, particularly the whitener. what he wanted to do was break this company up into a fast growing science and feed the world enterprise then a second commodity business has been holding this back. i think coleman will eventually come around, but should do it now. what i said about peltz, you

still make very good money if you buy it on a day when everybody learns about it like today. what did he like? well, i'm not going to give you all ten. some were too smal, some too hard to understand. he doesn't -- but he's still got some great opportunities including selling bonds, not too late to do that, and buying among ten express scrips, qualcomm and often lightning round picked. the most successful, a top flight pharmacy benefit manager. stretch it out, seems cheap. a toll taker from everyone that

uses intellectual property. that's pretty much everybody. to make me think this couldn't winner only. we have filed forever and watched ceos. if it goes higher than the main people call -- says it can double and if all goes down, it goes to zero. that are better than eog resources. has an etf of japanese stocks. i think that's a better way to play it. if the trust is playing, the revival of japan, so i don't

want you to be clustered in that one sector. may i suggest the wisdom tree trust for japan. gets rid of the currency, which is the way my charitable trust is diversitdiversitied. jim chenos says he's been at the end of the supercycle. i don't care to short this company. it's a good one. that has made some mistakes, some errors and i'm not a big fan of commodities. look, there's still mining and there's still going to be machines that mine. the fact is, this is a hedge fund idea and frankly, nothing more. i see no reason to take action. the stock just had a 10% move and that's fine with me. but i think there are much better industrials out there to buy including any involved in air space, which has its own multiyear supercycles, so here's the bottom line. heard a lot of good ideas, but

the three that make me most comfortable -- consider these stocks as terrific places to go when we get our next tapering swoon. that can't be too far away, can it? >> coming up. what the heck? yahoo! screams high any way. what's behind the move? and can marissa maier keep up the climb? don't miss cramer's take. a-a-a.

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ally bank. ur money needs an ally. how could yahoo! miss numbers so big? because ceo marissa maier has done an amazing job in one year's work, he inherited a xaeb with terrible moral, company was way off course, losing market share to google, facebook. she had two things going for her. the balance sheet. brimming, yes, brimming with cash. she had a brain. a brain filled with ideas on how to execute them. so, the company had last night, what's so amazing what what she can do, how did this stock rally

closing in a new high of $29.66? threefold answer. first, she turneded around declining. once you've been in the game for a while, it's almost irreversible. she's been able to pull it off due to terrific innovations. what is seen from her predecessor company. yeah, there's a revolving door. maier brought down the rate by a remarkable 59% and 12% of the people that she hired are called boomeran boomerangs. exemployees who went back in because they're hearing good things about what she's doing. the no right to not work rules. many had to show up to keep their job. there are a lot of male -- at this company 366 days ago. if you think facebook didn't have a good mobile strategy a

year ago, yahoo! barely had one at all. dozens was the word she used. now, there are hundreds. maier did all of this without dinging the balance sheet at all. the way is shrinking, now splinging share account from 1.4. want more monotized, more fire power, including the terrific stake in -- 24%. the largest in china. could be coming public. there are a lot of -- about this quarter. i know it's troubling to hear that search revenues are challenged. there's a new way to buy ads. it's called programmatic buying. that means they can take advantage of all the inventory about the web and find the cheapest sites to reach the most people. internet companies were designed

to create ad campaigns. it's something maier will have to beat in order to keep this stock on a role. in a world where 250,000 blogs are started each day, where content is no longer king, barebar barebar barely even pawn. you carpet pawn the web the machines. while you may hit some places you don't need, you get the job done a lot less cost and profit for those with the content like yahoo!. she'll also be able to get the nerve to go, too, and find ways, perhaps through video, through all the the prukds -- it's easy to say what's good for yahoo! is good for facebook, but the real take away here is that maier is a winner and i think she's going to keep winning and from the looks of today's trading, market

agrees with me. bob in new york. bob. >> hi, jim, boo-yah from queens. sizzling queens, new york. >> i enjoyed the all-star game. i'm from queens and my colleague, david faber is from queens. >> late april, i bought linkedin, only to see it lose 20% of its valuation. do you think they're a candidate for m and a? >> i thought that last quarter was an investment quarter. i was skeptical, but i think it's really terrific. i think that linkedin, you buy it on fundamentals. they're just fine. do you yahoo!? maybe you should. the stock soars.

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are you ready? lightning round. let's start with diane in new york. diane? >> hi, jim. i'd like to say a nice boo-yah to you and i want to know what your take is on exxon mobil. >> fine. typically is -- fine. there's a good start. as good i don't think as eog. if you want to take more risk, or occidental. joseph in florida. >> boo-yah from the gator nation, mr. cramer. >> how are are you?

>> doing great. what are you thoughts on alter energy? >> after listening to michael ward talk about csx today, i don't want to pull the trigger, but i think it's way to too late to sell. from patrick in arizona. and with the -- i was wondering if we could get an opinion on the wall in -- as your opinion changed? >> okay, you know, my problem here is that i have not listed ibms call. i've been violating all my own rules when other people get the call. i will have a better look tomorrow. lois in florida. >> boo-yah, jim. i'm the most faithful follower and when you mention your charitable trust was getting rid of china exposure, i unloaded by

chart industries at 95. since then, it's gone up. should i buy back in at a down tick? >> it's had a miraculous run, o lo lois. i am concerned about china expo shoour. i don't think you need to buy it back. if it comes in, we can talk about it and pull the trigger. cole in iowa. cole? >> boo-yah, cramer. from iowa. >> good to have you. >> i'm 17, i've been in the market since i was 12. >> i'm cole's dad. what can you tell us about lion's gate? >> i thought it was going to be a really big stock, then felt it was out of gas and i was wrong. this is a company that once i -- this is hunger games, good tv entertainment. just a good stop like discovery and it's probably going to remain a good one for a long time because they're great, creative and have the right

programs. joyce in texas. >> you made some money for me, but i've got a question on johnson & johnson. i got over $250,000 that i can buy stock with. one thing i don't understand and i want you to explain it to me, when they came out with the earnings, their earning was helped by the -- and the stock isn't moving much. and i want you to clarify it for me. >> sure. >> first of all, it's the second best performance stock in the dow jones. second, this stock has been up in almost a straight line since he took over last year. pharmaceuticals, 11%. they have the best balance sheet of any drug company and fifth, this company has within its four walls, perhaps the greatest undervalued asset, so i think he's got the stock and can go to where it can go over $100. i'm hoping it comes in so i can buy, buy, buy, buy.

over and over again. j&j is for me. andrew in south carolina. >> how you doing? >> all right. how about you? >> i need some advice. i got a class action lawsuit, more desires, has a hold, price target of 54. what are you thoughts? >> i like -- that's why i like lulu and she's departing, so i don't have that much of a view about lulu now. sometimes, the ceo manages a great deal is terrific. one more. tom in illinois. tom? >> hey, jim. boo-yah. >> i'm calling about xerox. >> i kind of think yes. i bumped into a woman, just talking to her, i was thinking that's had a big run. looking pretty good. i got to do more work. let's leave it like that.

i will do a further analysis of xerox. i think it is doing too well for me not to take a harder look at it. and that, ladies and gentlemen, is the conclusion of the lightning round. >> coming up, tower of terror? shares of american tour got a scare today when a wall street research firm called for a 40% decline in the stock. tonight, cramer calls up the ceo to decide which direction this company could be headed. all coming up on "mad money." ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim

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♪ time to zoom in on a stock that just became very controversial. american tower, ant. number one owner and operator of wireless powers. company's now under attack from muddy waters, not the blues musician, but the short-selling firm of the same name that just released what i regard as a negative report saying that american tower has given a 44%

return with reinvested dividends and 111% gain since september of 2009. i think it's worth giving management a chance to tell their side of the story. welcome back. >> thank you, jim. glad to be here. >> this is an odd new world. it's become kind of a regular thing, whether it be herbal life or wind energy, where there's another group of guys just slamming every day. here's a piece of research that base kri says you're dramatically overvalued and that there is a well let's just say -- acquisitions overseas and what they're really worth. >> well, jim, normally, we wouldn't even respond to such an ill informed report, but there

are some allegations in there we just don't believe we can let stand. our international business we're very excited about, have been for years. we've been doing this now outside the u.s. for 12 years. beginning in mexico, then on to brazil, et cetera. those early latin american acquisitions and investments are our highest returning assets in the company now and we feel we can and are replicating that kind of performance in a number of countries around the world today. so really unfounded, i think, the analysis, the report and our track record actually speaks for itself on this. >> well, i think that just because again i want to get their side, then your side. there's a page called material misstatement page one, which says anticlaims attained $585 million in brazil, but financial statements require say this was

a 300 million purchase. >> we know exactly the facts are. with the sec, pulling out all the packs and this is a simple story. the $585 million acquisition was funded from two sources in brazil. one was intercompany debt which was to the central bank of brazil and one's a portion of our account and another part of the deal was financed and funded with equity internal american cash equity that was in a different part of the brazilian central bank.

this company didn't find or know about the equity contribution. it gets you the full amount and we have bank records that will provide the sec and anyone that would like to see them and other documentation that shows that the full amount of all the funds was indeed conveyed to the seller and we have confirmation. >> is he right? did they contact you ahead of time? >> no, we've never had any direct communications with muddy waters personnel. >> they didn't show you. just put it out and it's wrong. >> the allegation of fraud is really -- to us and it's wildly and completely inaccurate and easily provable and we provided that proof, both to the public markets today and to the sec.

here, they ran a picture of the firm they used to value the acquisition. i've learned not to judge a book by its cover, but the picture they have of this accounting firm does not look like somebody that jeffrey tate would be u using. i can tell you with full assurance that we had two u.s.-based accounting firms, who brazilian operations participated in this acquisition and audited not only this deal, but a full set of financial space. we used another of the big four firms to do the purchase accounting in brazil. their work was checked as well and we feel we got the best in the industry and the best in the

world working with us on a professional basis. >> i don't think that's the way it's building. how about this one? ceo's consistent sales he receives, just a lack of faith in sceustainability of the business. ironically, this is a vu we share with him. >> that's again wildly inaccurate. short of a misperception of narrow pieces of information about my stock position. i've got two-thirds or more of my net worth in the stock. as many ceos do, just the sort of standard selling plan as new options come in each year. sort of equalize that with some exercises and of course, those options you choose to exercise in any given year, you convert to cash in large part, so it's just a misrepresentation in the

way the stock plan works. which has been extensive over the years and continues to be. >> i understand those. i've had similar programs myself. you have to pay your taxes and i understand it. net worth is what matters and how much and the percentage and i think you have been very forthcoming. thank you for coming on "mad money." >> always good to do it, jim, and to be with you. thank you. >> if there's an 8k filed with the government that says this is wrong, he gets in trouble if he writes an 8k that's wrong and he isn't going to do that. the accountants he mentioned are real accountants. you've got to draw your own conclusion. i foupd that compelling, but you do the work. you look at the ap, the money orders, then you decide. back after the wraek. >> coming up, talent show. corn fairy connects business

with its most valuable resource. leadership. but can this corporate recruiter turn the list of clients in into cash? cramer's got the interview with its ceo. (announcer) at scottrade, our clients trade and invest

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we're always trying to get a deeper read on the employment situation in this country, through payroll processors or

sta staffinging companieses and in keeping with the two cities nature of our economy, tonight, we're checking in with a company -- the job market is line for the 1% crowd. we're talking about corn fairy internation international, helping many of the world's companies. and if corn fairy business is good, the stock is 25% year to date, hit a new high today. when it comes to recruiting people for high level positions, it's the opposite for most of the country, even with the job market improving. let's check in with gary, the ceo. thank you so much for coming on. because your website features cnbc and a clip with my friend

michelle caruso-cabrera, you said there's so much indecision, there's so much worry and fretting, we had the election nine months ago and it's still not happening. >> it's like 1:30 in the afternoon after a hangover. you don't have the conspicuous consumer. everybody's delevering, so ceos are slow to hire. >> when i look at your stock price and i go through the conference call, what is clear to me is there the trend is getting better. particularly, i like the fact it seemed like the nature of services is hiring. one of the best daily is starting to get better. >> it has, but it's slow. this thing is a nike swooch. it's going to be long and ste y

steady. >> your company's been able to develop other revenue streams that have really kind of buttressed the way your earnings outlooks. >> and today, 40% of our business comes from outside what we're known for. it's anchored around leadership development and as a ceo, one thing to attract people, then you've got to get them to work together towards a common purpose. >> in the june 17th conference call, i'm going to quote, we are disappointed by the fact, by that, what you were talking about was in reference to organic growth, but here, you said leadership business is good. how do i reconcile this? >> that business seven years ago was $7 million. we've done a series of acquisitions over the last several years. >> now, you have a huge cash division. >> we want to invest in the business. we want to take this fabulous brand and go into services to

help companies not just find people, but build capability. >> there are people who have watched this show, but not been on the search. can you please describe to people the phone call you get, then all the calls you have to make in order to be able to find the right person so they understand why you get such a big chunk? it's no more about finding the person. it's finding out who this person is. we're trying to find out who people are, can they make the difference between 2% growth and 4% growth. >> to me, means focused on the united states. >> absolutely. when i grew up, the united states was on the middle of the map. look today. >> greenland, that big thing in

the united states. >> yeah. then kansas. where i was raised. >> exactly right. >> but two-thirds of the world's middle class is going to be in asia, so cultural dexterity. the ability to meet people where they are and to drive people to these artificial lines called borders. >> it's not reflectinging your numbers. >> i lived in china last year. there was incredible inflati inflationary pressure there. you've just got to look there, given the population and density. >> europe was down a quarter, but i believe that europe has bottomed. am i being too optimistic? >> no, i don't think you are. we've seen that as well. >> you have? okay. >> yeah, we have. >> big corporations with middle sized, where's the turn your seeing? >> with big sized companies and if you look globally right now, the hot air is life sciences.

life sciences and health care. >> acquisitions, i interviewed pete today, the u.s. attorney for the southern district manhattan. one of the things he has is that the culture comes from the man at top. when you are being hired -- our most important thing is we want this man to tell the truth, but honest and we care about that more than anything else right now. >> well, for that executive, man or woman, it all comes down to authenticity. leadership comes down to making others believe and enabling that belief to become reality. you've got to connect to the other person. they've got to be able to look into your eyes and see your soul. >> and a lot of people turns out weren't who they say. >> yeah. >> but any way, congratulations on your stock being terrific. really is great. it's still -- versus the rest of the group even though you're doing better than they are.

thank you so much. he is the ceo of -- it's still well off where it was not long ago. makes no sense to me. stay with cramer.

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>> best part of the day from the conference? when ikhan said he likes -- because he's made him it's good to be back. i'm feeling better. welcome to "the kudlow report." i'm larry kudlow and back on a very big day for the cnbc, the delivering alpha conference was today. we heard from some of the best in the business, jim chanos, nelson peltz, leon cooperman, carl icahn, john paulson, jack lew, just to name a few, and here's what you missed. >> i don't think anyone is too big to indict. no