xlf. >> mike. >> i like the 25 strike call slightly in the money. >> dan >> etf looks look it's going back to e trk f. >> for measuring check out the website. meanti meantime, don't go awhe.nyer "mad money with jim cramer" starts right now. anywhere "mad money" with jim cramer 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. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. we too often investor the day! i hear people talk about what is working, and in the old days

when they ruled the mornings around here, i remember when i co-hosted he would introduce me as >> referereverend jim bob cram m a stock was here today and gone tomorrow and everyone was fine wit. those days are over. if you recommend a stock for a trade, even if you say buy today for the analyst meeting and sell it tomorrow -- >> sell sell sell sell sell -- >> there will always be a youtube video kick around that shows you liked the stock but never gave it a sell call. we've gone well beyond that. tonight, we're taking it to the next level where i'm introducing you to the concept of suitability. basically what stocks fit you. what investments are right for you. not for this week or month, but for your age and temperament i heard of the concept when i was in training at goldman

sachs. i have been buying individual stocks for myself and others for a half decade before i got to goldman in '83 at the time i was watching financial news network in between classes. when i could, i would run of to the library where theyhad research sports from long-gone firms about stocks totally on a catch basis. it's so nostalgic to look back i would ask the kind librarian for the firm's s.e.c. filings. these are pieces of plastics that you read. everything now is online and updated. the imperfections in the market were legion. now everyone can know everything but more on that later in the show i would spend all week trying to find one stock that i thought

would work one stock that would be good for one week, where anyone who wanted to invest could run with it, and i would take my answering machine and give you a 20-second wrap on that stock answering machines, can you imagine? some companies used to make them -- with all those jobs wiped out by your cell phone, right? answering machines same with answering services toer that matter talk about jobs not coming back. but i would say, hi, this is jim, i'm not here right now, but i like the chart and numbers from people's express. i used to jet down to new york for job interviews my best one, a recommendation for monolithic them rimemoriemes who helped save tesla in 2007, 2008 he was the last ceo before elon musk

it was the best cramer is not at home call machine i ever had and "jim is not home" became a rallying cry for lots of people hoping i wasn't home so they could get the tip without tealing me one of the officers at goldman sachs called me and got the recomme machine and the recommendation and told me to call him. he asked do i consider many people who called me might not be ready for the hottest stock in the land and i was recommending it to them without any sense of whether it was right for them i said that i always thought that stocks were pretty much a

c caveat emtor situation he explained to me before you recommend a stock on a one to one level, you had to know what that person wanted what he wanted out of a stock. you wanted to know if the stock was right for them and for their tolerance and risk monolithic memories wasn't exactly right for anyone other than bungee jumpers and k-2 climbers or something like that. so let's start there tonight i want you to ask yourself what is your risk tolerance? how much risk do you about out of a given stock stocks are peculiar pieces of merchandise. you buy a car and you know it's not worth as much when you leave the lot. but there are all sorts of warrantees you buy a house you know it can burn down the next day so before you buy it you get insurance. stocks stocks, you buy a share of nike

and the next day goldman sachs downgrades it and the day after footlocker says there's been a slowdown in jordans, you can't go back to your broker and say you never told me this could happen i'm down $6,000. i want it back it would have been incumbent upon the broke tore recognize that the buyers would know these things could happen. maybe the broker never should have been recommending stocks to begin with but you can't take stocks back and get the stock price, because there is no real insurance, although you could buy an expensive put underneath suitability, the concept of suitability is incredibly important. that's why for the next hour you're going to learn about a way to measure your own tolerance versus a variety of factors, because these days with electronic brokers, there's no

real protection, just a signed form that says you get it. you know what you're getting into and you accept it tonight, the bottom line, that stops here by the end of this show, you'll know what suits you and what doesn't, no matter your age or your stock or to put it this way, caveat emtor. just be aware of what you might be committing your hard earned dollars to when you pull the trigger on a buy ann ma srie in new york. >> caller: can you talk about trimming our profits because i get eeger and i start trimming when i'm up 10% or 20% which you say is a high quality problem, but can you talk more about the trimming >> what would happen if you kept doing that is you would miss out on some of the greatest stocks in the history of man that you may own. what i suggest you do is move that up a little i don't think you should start

selling until you're up 25% or 30% and only sell about a quarter percent. but you've got to let it run if it comes back, you can buy some i just don't want you to lose the -- a great opportunity unless the story changes and then it's -- >> sell sell sell sell >> immediately leto in texas. >> caller: my question, is as a recent retiree and one that's anticipating a possible market correction in the near future, should i -- from a stable income fund or should i wait until after the market has corrected >> if you're in retirement stage, i want you to own equities but not as much equity exposure you shouldn't own more than 50%. i want you to own some, because

people that are retired live 20, 30 years longer thanthey thought. butyou know what you'll put money back if the market really craters. otherwise, i think you'll be type and let it ride marlo. >> caller: you talk about index funds. can you tell us the different between index funds and etfs >> what i want you to do, warren buffett says you should buy the vanguard index fund, the lowest cost fund. vanguard is very easy to get to. i just want to go with warren buffett, the greatest investor why? well, warren buffett, what am i going to do, argue with him? that's never been a great call no more excuses. i'm helping you form the necessary investing stages you need tonight from young to old, i'm going to meet you where you are and take

you where you need to be on "mad money" tonight, we're kicking things off by beginning in the crib. here are the two stocks you should be buying the teenagers typically have a lot to learn, but there's an important investing lesson everyone can get from this, as well plus, from your 20s to golden years, by guide to where your money should be sitting at any age. stay with cramer >> don't miss a second of "mad money. follow @jimcramer at twitter have a question? tweet cramer at #madtweets send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com.ñ

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which ones come to mind? any of them would be wragreat stocks to buy share of i think that facebook is a rapidly growing site where you provide the content and they provide the ads. it's a brilliant company amazon, there's a $4 trillion market for retail goods and amazon only has a fraction netflix recognizes what you want when you want it game changer why do i still like this alphabet isn't that played out? no, no, no it dominates the moment you want to buy something, so the

advertisers love it. there's a balance sheet of beauty and people working to invent something new to complement search. and wamo, maybe the ultimate in autonomous driving vehicles. if you set up an account, may i suggest it's done within a uniform give of minors you can gift kids money that can accumulate tax free over time. the rules have changed so much, i love them because they were like trusts where you didn't need lawyers to create them. check with your broker for the latest rules with you and the state you're in. it's one of the better tax breaks around. it seems rather commercial to do what i want done here, but i think that given how poor income growth has been for so many people in this country, it's important to augment the savings side there's no time like the present. one other thought i like, you know i believe that gold and silver are terrific insurance

components we'll discuss this concept more later in this show but a totally blessed by me idea is to buy gold or silver coins for people i bought silver for my kids in a dealer and had forgotten about them they may or may not increase they are the polar opposites of growth or income stocks. they don't do anything but in crazy times when inflation can come roaring up, nothing holds up better than mansions, masterpiece art and precious metals. but if you do this, put it in a safe place so think about setting up a uniform gift minors account and putting individual stocks in with the index funds and the stocks consisting of a growth

vehicle and income one that you let the income compound. a high yield can lead to a doubling by the time the child reaches 10 this must be done at the earliest moment to get the most time involved for your brand new loved one. no one has ever regretted this idea more "mad money" ahead, including more about the most valuable asset in the stock market, time the action you need to take today to set yourself up for financial success. and the are you paying attention? i'll clue you in and i don't look anything like i did in my 20s. your money should change with age, too i'll explain how so stay with cramer.

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we discussed the importance of suitability and the essence of what is suitable for the newborn. but what about suitable for the kids what do you do for them? this is when you make your move. this is when you decide that you are going to get them involved in what stocks are pieces of companies they might like now, let's be honest, you couldn't explain to a kid what a stock is that's not how i grew up as much as i loved sports and we had world series to the '64 world series, given they were 6 1/2 games up with 12 them all, of course, they didn't make it in my house, stocks were supreme. my father had gotten a tip from his brother who knew a stockbroker who played tennis to buy shares of a company called national video it was a total bust that cost us fortunes

when he gave me the sorts section of the newspaper, he would give me the business section. i would look up market prices and try to anticipate of how stocks were doing. a lot of time i only knew the stocks by their abbreviates and the aggregate type but i kept a ledger to see scm, polaroid, zenith, national video. i had l-tv, rockwell i had a host of companies that have disappeared, acquired or still hanging out. i also owned a lot of airline stocks easter, national, they were household names because of advertising. i liked the stock picking process so much, i got the whole fifth grade class involved we would all pick stocks and keep track of the closing prices

for a week to see who could make the most the problem is, i was working the exact opposite of what i should have been although what i was doing is still being done now, just picking stocks but how fast they were climbing and backing away if their climbed seemed to slow. so let's go over what would have been right and what was wrong in the picture i just presented, which would have been compared to goofus and gallon from the highlightmagazines goofus would have never taken a tip from his brother who taken a tip from the tennis player you can find out more from google than jack the broker then national video made picture tubes. in the old days when you had a

problem with your tv, the tube was blown. the technology left national video down but it went down five days after pop purchased the stock. i know there was many a silent meal because of that day's decline in national video's stock. there were a host of stocks to have chosen from back in the '60s most weren't that good, but there were dividends and in retrospect, what we needed more than anything was income maybe the idea of picking stocks because they were going was anti-threant threat call to buying stocks many were defense contractors and we were just beginning johnson's buildup to the vietnam war efforts. it was a lot of fun, but you know what? i learned the most about stocks from two 3-m board games acquire, and a fabulous game called stocks and bonds.

my father sold games through 3-m back then and it was all about mergers and acquisitions and stocks and bonds was a game about accumulating wealth through risky or conservative stocks these case we have whole fantasy league of stocks, but the board game could hold up to this day let's go back in time and think about what i could have done first, when you are a boy or girl, you play with toys it would have been such a natural to bought shares in mattel or hasbro i'm simply saying thatit is a way to teach kids that a company can be owned by the public and you can own a share in a company. they know toying i get they would pick hasbro over mattel. the irony should not be lost on my family. imagine if my father bought shares of 3-m instead of

national video if we had just looked at the spine. we had a box of cereal on our table every day, we could have bought general mills and who didn't want to go to disney world it's that factor the library alone should make you want to own shares in the company. but the theme park, let's not outthink this game johnson&johnson's band-aids were staples in our house i knew to wipe my nose with kleen kleenex. these are things that aren't taught, they are imprinted i know mcdonald's may not seem like something you would want to invest in, but the ceo is committed to making the company more organic

so buy a name grand, something they can see and hear and touch or even like put it away. the stock won't always work out. think of what you liked when you were little or what your parents liked when they were little. look, if it trades, you more than likely have a winner. so the bottom line, you want to get your kids to investing, buy a brand name, not this year's version of national video. something they can hear and see and touch and even like. the stock won't always work, but think of what you liked when you were little and remember that you may have a long-term winner on your hands. let's go to judy in texas. judy >> caller: hi, jim, how are you? >> good. how about you, judy? >> caller: great, thank you. my son, william, has been very interested in buying stocks and he's calling with me now

and my dad gave him some money to purchase stocks so we're looking at his first stock purchase and we're wondering what stocks to buy, where should he start? >> look at things that -- common household things that he sees and you see, and then what you want to do is figure out how much money you want to put in it and put a quarter of it. if the market goes down immediately, he'll say this is a sucker's game. put a quarter in it, then another quarter. hopefully there will be a selloff, then you'll be ready to buy. but make it in household name brands that everybody knows. let's go to carol in florida carol. >> caller: hi, jim, how are you doing? >> good. how about you? >> caller: good, good. i read and enjoyed "confessions of a street addict" and kudos to your hero, mrs. cramer >> she knew how to trade better than anybody else in the world

>> caller: good for her. and good for you i would like to know your opinion on buying gold and silver as a hedge against the market and now monetary system >> look, cash is the best hedge against the market against the monetary system, you're right with gold i like actual physical gold. i like buying gold coins if you can't afford those, the stocks won't work because they don't reflect the price of gold. so if you buy bouillon, put it in a safety deposit box. stocks are real. you can touch, taste, and play with them. with kids that's the best place to start more "mad money" ahead, including investing advice for teenagers. i'll explain, next plus, a serious piece of wisdom i think is dead wrong and could be wreaking havoc on your money. and i'm taking your questions tweet by tweet so send them my way.

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we all know that teenagers are incouragible

the last thing they want to hear about is stocks. they have bigger fish to fry so i say so what i'm not going to tell them what to buy but let them tell me. why do you think you might have heard me say i like domino's sure, i remember when the stock was $10 and it latasted like cardboard before the recipe was changed. so sure, i recommended it. but that's not what made this stock a crown jewel. it was the technology behind dpz. my kids hate talking on the phone. they think it's for losers but apps, they love them when my kids discovered the

domino's app, they were sold no worries about where the pizza was in the process that's two things the two great local joints couldn't do and the no-cheese options for the vegetarians. finally, there was the joy of being able to pay online before the delivery person got there. all this technology was lost on me i never minded the phone i was always patient about when the pizza arrived. in short, i was not like the target audience. that's why i always called domino's a tech company. many of you know how i found the stock of apple when i daughter asked for a second iphone, not because she had lost it, but because she wanted another color. they were fashion access sioria. my kids would rather be caught dead than have a non-apple

brand. when the new computers came out, they checked the resolution, and they want them they want them as presents despite the cost which as they get older they start knowing about. the iphone is more controversial. they don't like change they didn't like the plug change they don't want to hear about the ear buds they're part of the apple ecosystem. with its service charges that make it so that they have to have all their millions of pictures stored. when i kids begged me for a samsung, you might hear me say some different things about apple than i do. your kids won't know much about income or the power of compounding, but what they will know is how to feel guilty about the amount of phone charges they rack up, right you think i've been recommending verizon for nothing? it's the cash cow that your kids turn you on to that has continued and will continue to work even as there's little growth how about this

google it, dad that's how i found out about google when i got the word from the kids they weren't allowed to google something they were involved in at school because it was cheating, that was enough for me when i was doing my thesis at harvard, we had access to the library. their job, to look up anything you wanted looked up they had to go to the stats and find out things you wouldn't know where to begin with i wonder what happened to those jobs my kids aren't into sports they get the news from their iphone and entertainment from netflix. is it t no, f.a.n.g. isn't all of their creation but facebook, like i said, i went to harharvard

you got a book and it was called face boo facebook it had everyone's picture in it. my daughter went to instagram. i didn't think the ads worked until we were inundated with red hot chili merchandise. does everyone else dream that their ad is just a link? but it seems that only mark zuckerberg has the forefront to care about the user experience how about chipolte the kids love the salads my youngest returned after that food sickening incident, but she did takeout because she didn't want to be seen inside nothing's perfect. but they -- their picks, they will do. what if the picks aren't any

good your kid likes a device that fits on a wrist and measures steps? that's the cost of learning. it happens, go pro, it happens, fit bit. remember, they have their whole lives ahead of them to make their money back that's the beautiful thing about teen investing you can lose it and no one may notice in the end. you pull the same thing later in life it has consequences but the bottom line is, for now, you can learn from your teenage children trust me, invest with them and you won't regret it. "mad money" is back after the break. i love you, couch.

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♪ lives? what are we thinking about suitability then sadly, from here on then, things get less and less suitable not initially. when you're in college, i don't expect you to put any money away at all college koost costs too much college saps the living

daylights out of you i now regard it as a hardship t even have a savings. you can pick stocks, not just from options that your company gives you and you have to pay a fee. that's for another show. this is where you have to begin the mix of index funds and individual stocks. there's too much risk in individual stocks to put together a portfolio of your own choosing so put your first $10,000 beyond what you have f your first 20 years into an index fund, the s&p 500 being my favorite. as i mentioned before. i know that some will argue with that i see them arguing on twitter. i don't care i know the truth the possibility of one really bad stock hurting your nest egg is simply too risky for this guy. with an index fund no one stock can do that to you but with the rest of your money

i do like stocks and i want you to be diverse feed that's why we play "am i diversified" and why we created a club at the street to show you how to invest. the ones that involve my charitable trust i say involves, because the trust is only allowed to invest with club members. i can tell you if you want work on the stocks we talk about on this show and updates about a lot of them with a once a week update of all of them, action alerts plus.com is the way to go i always talk about buying a stock, but you have to keep up with it. remember back to earlier in the show when i discussed how hard it was to do the homework. the trips to the hi brlibrary to study microfiche

you need to read the conference calls, you can google articles so many that you'll get sick of the process very quickly you can have articles pushed to you with charts that i would have only draemt of at one point in my career whatever makes you most comfortable to take charge of your money that's what i want confident. not overconfident. i want you to be a good manager or a good client i don't even have a preference it's just important to know thy self in terms of risk. i want you to take all the risk you can until you get to this age. i would like to think you have more knowledge of what you can tolerate than i do but all i can do is ask you what you think you'll do in a selloff. will you buy more or cut and run? can you take a decline and buy more or do you wish you had no exposure

can you accept that stocks go down these are crucial questions that only you can answer. i would like you to take more risks in more individual stocks once you put away that $10,000 i would hate to see you commit more than 20% of your mad money to individual stocks that would not be my preference. capture more income by owning stocks that pay dividends. but i would not advise you to do that until your 30s. only in your 40s do i want to introduce bonds to your portfol portfolio. you should have been able to put away enough that bonds would protect your invested capital. in the old days, many people are outrunning their fortunes and the lack of good fixed income

alternatives that's why i favor higher yielding stocks to most bonds. you age, most bonds have that cave caveat everyomptor provision. that brings us back to the notion of suitability. if you can't handle the risk, if you think the stock market is simply not as legitimate in asset classes as it was once, because it's prone to deep valleys or overblown threats or flash crashes, that you have to decide if cashing out or taking stocks to minimal levels is right for you. the bottom line, it's your life, not mine so get comfortable with what you can live with. but risk at least until your middle years should remain a friend stay with cramer

here on "mad money" we love to see families investing together often locking in a stock at an early age can set you up for life so your wealth can grow with your age so we're kicking off this addition of mad tweets with some cramerican families. we hear from rico who says, get

them started young i like that. that kid obviously has horse sense. here you go. there's some charts in there maybe the kid likes the charts, too. holds up under much pressure next, a tweet from david who said, awesome time at a philly's game on this day a few years ago. sat next to you and your dad that is terrific. yeah, we had a great time with pop. pop and i used to love to go to games all the time of course, i was a vendor of the phillies now, sometimes we come across some families that are truly cadre to the show and kids that have real horse sense. you think you know your ceos nobody is going to stamp the poodle's kid >> facebook? >> mark zuckerberg >> twitter

>> and your favorite for the opening bell >> jim cramer. >> that's it i mean, that should be a show in its own. that is an unbelievable -- boy, new arrow electronics. i like it. next up, patrick tucker asks a serious question are accounting issues pretty much always because of some level of shadiness or can honest mistakes be made this is -- i may have to do a whole segment on this, because the answer is, honest mistakeks be made and a lot of times my rule will keep you out of a situation where there's an honest mistake and the stock takes off. but other cases it's not honest and you lose everything. so i'm going for the maximum risk situation opposed to the minimum one, and i can't really

tell from the outside which is which. which is why i'm so cautious now a tweet here who wrote, my brother is 26 with no 401(k) offering at his job. should he open a roth or t traditional i.r.a. you said you prefer individual stocks remember, first, i do want an index, i want an s&p 500 fund, and i want you to put your first $10,000 there and continue to use that as your retirement vehicle. but i also think that you should pick some of the best stocks that would normally be in an etf, because i trust you you're doing the work. let's make some money together in individual stocks, too. not denigrating mutual or index funds, saying let's own some stocks as a mad money situation. up next, a tweet who wrote, just

bought your book and really enjoy your show, too the reason i like "get rich quickly" is because it is how to put stocks against each other and the stocks that i've made, so many at times and i detail them all, embarrassingly, so you can learn from them. and now a tweet who wrote, you talk about heavy short selling interests. what is heavy? if i see 10% shorted, something could be wrong but that's what the percentage is that i look for coach tweeted, what do you recommend to keep squirrels out of the garden? we do not -- i have triple fence. i have boxes i have -- underneath i've got more fence and chicken wire. we've got the whole shooting match and they don't get in. but you snow whknow what?

the other box they get in and i have to throw the stuff away sit a preoccupation of mine. it would be greatif you could shed some light on the age targeted 401 k portfolios. i just think the index funds are better and you can lower how much exposure and raise cash and that's a better way to hook at it that's a much smarter way than trying to assess what might be in an age-related fund stick with cramer. i almost feel like going all scaramucci on these people, but i'm going to hold back the mooch. that's almost mooch-like the mooch. couldn't resist.

what's up? >> boo-yah, jim bow. i'm just trying to make some money. >> have you had that samuel adams? that thing tastes like cheerio's. so, i'm not going to rename my dog intel after deeming him nvidia then there's visa. is that live long and prosper? then there's visa. what is that let's look at a tweet here who questions, do you think an investor like warren buffett -- never mind i'm jim cramer and i will see you tomorrow. ♪

if you've got a life, you gotta swiffer with at&t you can get your entertainment right here. right now, when you get the incredible iphone 7 from at&t you can get unlimited data and live tv. the channels you love. your favorite shows and movies. making your iphone into more of a... oh my tv is ringing. hey...i'm in the middle of a...a second iphone from at&t? okay! right now when you buy a new iphone 7 from at&t you'll get a second iphone 7 on us. and power both with unlimited data and live tv. i like to say there's always a bull market somewhere, and i promise to find it for you right here on "mad money." i'm jim cramer, and see you next time

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