>> about a week and a half ago i bought on that huge dip that big sell offthey had i wound up selling it up about 14%, 15% i did the same thing with roku >> "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." 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 or tweet mme @jimcramer. i did something some would say is ill-advised but not from the town i am from yeah, basking in the glow of an

easy philadelphia victory, i decided to take on a number of twitter followers who insist that anyreality from these levels is entirely phony a move based on easy money from the federal reserve and a j gigantic budget deficit. therefore they say it's all false. it has to end badly. i read all these thoughtful 280 character or less arguments, and they all have one thing in common they hate the market see this as a gigantic house of cards that's waiting to collapse the dow lost 92, well, some of it, the s&p shed 0.5%. there's one huge problem with this world view, history look at this, i got in this business in the fall of 1981 with the s&p trading at 120.

120. it's now at 2,938. the dow, the dow was at 85 6. it's now at 26,478 if this isn't dispositive, i don't know what is i don't know if you're a short seller it seems unfair that there could be a moment where the fed's propping things up and there's a gigantic budget deficit, perhaps with a liquidity bubble, but that's just not how it works people the market's not perfect often it doesn't even make sense. you don't have to like it, but trying to fight it every step of the way, but look at this, it's cost you a fortune yet on twitter, it's like i came in right here, and everybody else else, well, they've lost money. they have the chart upside down. for better or worse, certainly better there for better or worse, stocks have been a great long-term investment for my whole

investment career. is that just because i got lucky? i don't know isn't that a long period of time isn't it first of all, because we've had decades of growth, we've had decades of progress. this isn't always the easiest thing to measure progress is so ethereal. think about how much has changed in the last 38 years personal computers, the internet, now the cloud. material perspective, things are a lot better than they used to be while things have deteriorated in the last year, we're not in a horrendous moment we need to make changes it was only 11 years ago that our whole financial system melted down. the weakness brought down general motors, f fannie mae, almost destroyed ge. the systemic risk was off the charts, but what happened? did the country fall apart no the center held. why?

well, because the federal reserve made it so center held by taking aggressive action right there. i don't rarely care how it was saved. enough with the purity what mattered was that it was saved. i think we made it through the great recession. we're certainly going to make it through a garden variety slowdown like we might be experiencing now we underestimate the market's incredible resource wealth we have cheap power. we've got great manufacturing capabilities it's huge for the economy. while the trade war with china may be hurting us a bit, it sounds like we import necessities from the chinese, we're not hostage to them other than our own minds, okay for their educational system is far from perfect, but it's created a tremendous amount of entrepreneurs who have created a number of enterprises that are hard to duplicate and we have more upward mobility in this country than any other in the world. our deep capital markets can find an enormous amount of

liquidity. right now we've been glutted on new ipos and the last thing we need is more deals just say no to the ipo finally, there are the companies themselves whenever i see people bashing the stock market, they're talking about the broader political scene. they're worrying about trump bullying the fed or the fed creating the illusion of sanit , given that easy money is here for the foreseeable future, that seems like a silly thing to worry about, and stocks aren't the only game in town. bonds have been incredible even if they don't give you much in the way of income. i think what the bears really miss is that it's not about the big picture. that's hedge fund speak. that's media who hasn't done home work speak. it's not about the macro it's about the micro underneath all these baskets people have created needlessly in order to generate a huge number of fees, underneath that, stocks represent actual companies and those companies can produce solid returns even

if the averages go down. i almost feel silly pointing this out where everyone's worshipping at the altar of index funds, dividends or through share appreciation or both let me give you an obvious example, plain as day right in your face. apple. yeah when tim cook took over as ceo in august of 2011, apple was trading at 53 bucks. now it's a$227 now, i know many people wfought apple every step they believe the company is too dependent on drpcell phone busis so the earnings have to come down that's been the knock on apple for years. i think it's plain wrong not only is the iphone better m importantly it's so popular there's a whole ecosystem of air pods and watches and paid for subscription services that have turned apple into much more than

a hand set maker this will make their earnings far less ep sottic, and that will make the stock go higher still. wall street pays more for sticky consistent numbers than the cyclical boom and bust numbers the 11 consistently -- someone must have downgraded apple it's trading down after the close. oh, bore me. now maybe you think that's all financial ledger men, everything i said maybe you want to google ledger men. who cares whether the numbers are sticky aren't you basically paying more money for the same earnings stream no, the market values consistency. you pay more for consistent numbers. this is not unique to apple. i bring it up in part because tim cook is chronically underrated mainly i mention apple because it doesn't fit the profile of what these bears keep talking about and complaining about. apple's value isn't being created by the fed's easy money policies apple is simply a kaefrp company that has made huge profits and

it's redeploying them to keep growing its business while compensating shareholders with dividends. that's what oeng a stock is about. apple's proof positive you're shouldn't view the stock market as one big undifferentiated blob like a soybean basket or like corn all stocks are not created equal. some are a lot more equal than others that should be self-evident, and there are hundreds of stocks that have good stories believe me, i know that. when someone tells you that the whole market is rigged to go higher by the fed, tune them out. these people come out of the wood work every time the fed cuts interest rates. i've been hearing this same nonsense, when since 1981, and you know what? judging by the numbers i gave you, it's been wrong every step of the way that matters claire in new york, claire >> caller: hi mr. cramer thank you for giving me the tools and can to have had staont

trading again after 20 years. >> i love that. >> caller: i broke a big rule. i'm looking for growth, should i sell it? >> i think chuck robins is doing a great job. the last quarter wasn't as bad as people thought. you get a great yield. it's got a great business plan it's doing a lot of terrific things, and it is so inexpensive that i want you to stick with it all right, the market's not perfect. but fighting it incessantly, it's been a fool's game, and there's evidence to support that just look at the value companies, that they create every day. look at our nation's abundant natural resources, our country's progress over the years. this moment is actually better than you think "mad money" tonight, i'm always looking for a bargain, costco after earnings, they've changed the way we shop. it's time to buy in bulk and investors of cedar fair might feel like they're on a roller coaster, so what should be your next move when it comes to the amusement park operators buckle up, and i'm giving you my

take. and rain central jumped to a record high on friday after matching a deal with an old school telecom equipment player. is it worth considering even up here i've got the ceo, so stay with cramer don't miss a second of "mad money" follow @jimcramer on twitter. have a question? tweet cross-claamer #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. whether your beauty routine is 3 steps... or 57, make nature's bounty hair skin and nails step one. it's the number one brand uniquely formulated

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look what happened to the stock of costco last week. its quarter was almost universally panned by the media. the results were allegedly weaker than expectsed, and the stock dropped almost 5% in premarket trade limits because i read the conference call the night before, i knew the headlines were wrong the quarter was fine, and the stock had to be bought in a week sure enough, you made a quick ten points if you bought costco

into the panic you know what? i think it's got more room to run. so how does the stock go up when it's supposed to be down, when all the commentary is negative okay when costco reported the headline number looked to be far from good, in fact, some people thought it was disturbing. however, if you've been following costco for any amount of time, any amount of time, you had to know there were so many moving parts here to this quarter, that the headline numbers were borderline meaningless. management forecasting say a 7% sales growth and the actual number comes in at 5%, that's one thing. that's going to freak people out. in reality costco delivered 5% when wall street was looking for just a little bit more, and it wasn't decisively disappointing at all, which is why you had to dive into the conference call to make your own determination. you couldn't use the headlines, also though obviously judging by this many people did choose the headlines. that's how i knew the quarter was better than it looked. plus, it didn't hurt that the analysts who followed costco approved of the quarter in their

notes the next day many raised their price targets even as the headlines would have had you believe the numbers deserved to be cut and they would be taking the price targets down costco isn't just a retailer here that's what you need to know the headlines can't capture there. it's a club, and that club had record sign-ups. total card holders at 98.5 million up from from 97.2 million last quarter. that's a club that people want to stay in ecommer ecommerce, which has been kind of an afterthought is booming. it's growing at a 19.8% clip costco just opened a new store in shanghai. just listen to what the cfo had to say about this on the call, quote, due to overwhelming crowds it was actually closed about four hours into the opening day, end quote the shanghai store racked up 200,000 members. typically other stores will generate about a third of that over the same period it wasn't perfect, but i think a

lot of the confusion stems from the way the question-and-answer session unfolded on the call specifically it's about how the analysts asked their questions do not get me wrong, the analysts got this one right for the most part. they stuck by costco, which was right, they raised numbers which was right, but their process created a misleading impression that reverberated throughout the media that evening and made you feel like the stock was going to get poe laxed. your first job is to come up with a model that model should figure out how much money the company's going to earn. then you look at the actual numbers to see if they're better or worse than the models when some of the headline numbers were below the analysts' consensus, the average of what all the sell side firms covering the stock were looking for, people started dumping the stock left and right with costco trading at a pretty elevated level to begins with, the sellers figured the stock was due for downgrades you don't expect it to hold onto these gains.

you expect downgrades. the analysts didn't go there on some level they understood that costco -- they don't play that game. costco knows if they keep their customers happy, it will ultimately benefit the shareholders and that, believe me is one and then the nec, not shareholders benefit and customers may benefit. imagine it has such a terrific record that they build up an enormous amount of trust it's never been a mistake to give costco the benefit of the doubt. however, if you listen to the q & a, it was like pulling teeth repeatedly analysts were asking is it safe repeatedly asking for help on the margins and gasoline business it's very hard to understand because of the changing prices of gasoline. they didn't get any help on that one at all they wanted to know if the tariffs are putting the company at a disadvantage. there, quote, will be some impact given that costco only sells 3,800 items, it might sell

100,000, 150,000 items believes the tariffs will be easy to manage he mentions the tariffs on european cheese and olive oil but won't put a number on it why isn't he more worked up about this stuff i think we are able to decide not to sell something and put something else in its place. that's easy for costco to do because they concentrate on a smaller number of bulk items they don't need to have everything in every possible variety. instead of focusing on tariffs, galanti talked about something wall street had been freaking out before earlier in the year but seem to have forgotten about. he's talking about the cost of fright he says it's peakd and is now going back down. the analysts didn't seem to care at all, at least not on this call even though the analysts loved those numbers for the new store in shaj hinghai, they don't have plans to open more chinese locations until 2021 why not? they like to be methodical about their openings this slow pace droefr drove the

analysts nuts. one of them asked if the expectations really exceeded given how slow they're taking thin things but things that doesn't mean costco's going to start putting out new stores before they're ready they've got a process. they are meticulous. they don't just add stores to please wall street how about the mood of the consumer, rather than wring his hands about the state of the economy, he says i think if we all turned off the television and stopped listening to everything every day we'd all be better end quote. costco sold a diamond ring for $200,000 a lot of carats. who saw that coming? managers costco offers real value, trust, value, trust value the coceo of sales forsz even though the analysts may

have sounded dubious, i'm here to tell you to buy it on "squawk on the street" right here as most of these analysts stayed positive, raised the price target, and that's what you n d needed to know as long as there were no downgrades, they couldn't take it lower everyone who bailed on this stock anticipating a wave of slashed estimates ended up, let's just say getting burned. if you stuck with costco as you should have as i've said over and over again, if you gave management the benefit of the doubt, then look at the money you made and that's very short-term bottom line, the next time you see a high quality company like costco, don't rush to judgment listen to the conference call. when you're going over the question-and-answer session that the analysts just trying to put together models, but even they can't think beyond those models when it really matters costco is a fantastic company. management told a great story of value and trust, and i think the stock's a terrific buy

anytime it gives you a pull back just like the one it gave you the other day. let's go to d.c. and georgia >> caller: hi, how are you doing? >> i am good how about you, dc? >> caller: doing great so do i get right into my question >> mm-hmm. >> caller: okay. i bought wayfair right after i started rolling out marketing for free delivery. i thought that's smart, i'll look into that but that was -- and then i sold the entire stock that was before i saw your segment about, you know, don't be a pig but hold onto the -- hold onto the initial investment and let it ride, so i did sell out like i said the initial investment, but it was also because i'm older and i'm a little uncomfortable with challenges that waymight face to

remain profitable as they try and grow and compete with amazon i did sell out about six weeks ago. that being said, i was curious do you think that was a poor choice >> no, no, you had to do it. i find i learn a tremendous amount, my wife insists we watch the commercial i can't dial around in football. i learn a tremendous amount from the commercials, i'm not kidding and amazon has a whole commercial really built around a table. a guy dreaming of a table. is that ever about obliterating wayfair. somehow wayfair got under their skin, and that's a bad thing to do ask, by the way, what happens when a sleeping giant wakes up like nike or amazon, nike with under armour, we can't own the company they go after. matt in new york, matt >> caller: booyah, cramer, how are you? >> i am well, how about you, matt >> caller: good, so i had dks, dig's sporting goods for probably the last four or five

months it's performed very well, but should i try to sell off and move into another company, or do i wait for it to drop and buy it at a lower -- >> high quality company, no need to do that took aggressive action to remove guns that is ed stack that did that ed stack's a man of great courage, and i think he's also a fabulous operator and 11 times earnings, i wouldn't sell that especially with a 3% yield you got a good one there i really like that one how about ashwin in california. >> caller: hey, jim, thanks for taking my call >> of course >> caller: talk about the stuff, i still remain optimistic, what do you think about installation hardware >> you can buy some hear it's only a few from the top and you buy more why? i got to tell you, gary friedman is so good haes a warrior's fan when we were with greg from the warrior, he let us be right next

to him i have to tell you i think this is absolutely a great stock to own. if you haven't been to the palace that is downtown in new york, i've not been to chicago gary friedman's the real deal and so is the stock. until analysts understand costco runs its business for its customers, trust and value, and not for wall street their models will always be flawed. that's the reality of a company that prioritizes you the customer ahead of the shareholder knowing that the shareholder's going to benefit in the end anyway. much more "mad money" ahead. might be a roller coaster market, but cedar fair and six flags just add to the whiplash keep your arms and legs inside the vehicle. i'm taking you for a ride after all the acquisition talk then my exclusive, you see that thing, arrng, i've got the ceo, and we've all got nonnegotiable demands when it comes to relationships, so what are the things that the u.s. refused to settle on when it comes to china trade, even as

the president says this thaenev that a deal could be imminent? you've got to stick with me.

. two months ago right here we ran a piece comparing the two big amusement park chains. six flags and cedar fair even though six flags is in many ways the better operator, i told you to stick with cedar fair the stock was cheaper and had a higher yield that's a nice combination. now initially that looked like a good call from august 19th to september 30th, cedar fair rallied 11% while six flags declined by 11%. then last wednesday it became accidentally brilliant when it was reported that six flags had made a cash and stock takeover for cedar fair cedar fair shot them down and

pulled back. all right, so what the heck is really going on here with these two theme parks we've talked about endlessly, and what are you supposed to do with the stocks we're always looking for high yield and high quality, and cedar fair's given us that before we get to the takeover, you need to understand why cedar fair has spent the last couple of months outperforming six flags, all right very nice run, isn't it? right after labor day weekend, cedar fair released its year-to-date preliminary net revenue numbers. they're fantastic. up 8% year-over-year to a record 1.2 billion. the company had 1.1 million visitors to its parks, up 6% year-over-year, with in park per capita spending up 3%. cedar fair had just reported a solid quarter in august. a little over a month ago, we learned that the company's maintaining its momentum plus, it didn't hurt that we got a huge rotation out of growth stocks in the value names with high dividends don't forget, that was the same period that the utility stocks became the best performers in the dow, and this -- we did the

piece last week about the reits being the second best. this is a function of their bond proxy. what about six flags why didn't the rotation help them we've got a series of positive analysts reports the management team met with a research firm that told a terrific story at the beginning of the august the numbers were let's just say mixd and i think that made it much harder to own during a period of intense turmoil. cedar fair was cheaper with a bigger dividend. if you wanted to buy an amusements park for the income, six flags was not the way to go. now cedar fair is higher while six flag's stock has broken down six flag has a higher yield and is the cheaper -- it's a $57 stock. we already know that six flags is willing to pay at least 70 a share for this one last wednesday reuters reported that six flags had come to cedar fair with an offer, although apparently it wasn't one of those luca brossi style, you

can't refuse offers. this broke after we learned that black stone, a gigantic private equity firm had just taken a 65% stake in the wolf resorts. that's another amusement park play we were dealing with a wave of consolidation in the industry, and those deals had premium valuations the deal values great wolf at 2.9 billion and its current owner bought the whole darn thing for 1.35 billion just four and a half years ago that's remarkable how much this business has gotten on fire. almost in the moment the six flags cedar fair story broke, the analyst community divided against itself with some firms arguing the deal made sense and others arguing it was foolish. wells fargo released a note pointing out that six flags would need to issue an enormous amount of equity to keep its balance sheet from getting too hard in debt the next day keybanc publishes a piece claiming the merger makes sense. six flags and cedar fair can combine forces to become a regional amusement park behemoth with a ton of opportunities for

cost cutting even this analyst who likes the general idea thinks the timing is bad he thinks should have waited for a recession, where they'll be able to pick it up for a lot less at the same time, everybody was scrambling to figure out what cedar fair might be worth now, that we need to consider it as a viable takeover target i've seen a wide range from 68 to as much as $90 a share. so cedar fair, well, let's just say it could really ramp come friday, wells fargo tells us that they met with cedar fair's management, and they're not looking to sell. a few hours later reuters reports that cedar fair rejected a $4 billion offer from six flags. that's about a $70 shares, mostly in stock but with a small cash component let me read you this bid cedar fair responded that six flag's bid was too low, not least because it did not compensate cedar fair's shareholders for giving up on the company's tax advantage, advantageous public partner. cedar fair is a master limited

partnership rather than an ordinary c corp. which means they pay out the bulk of their earnings as dividends or distributions without getting hit with any corporate income tax. that's why it's so advantageous. it's a good point. if six flags really wants to buy cedar fair they need to offer a much larger premium. i don't think they can afford it keybanc says they might need to pay $85 a share. that seems prohibitive to me especially since cedar flags has a debt laden balance sheet a lot has changed since i told you to buy cedar fair at 62 bucks in august. the stock has given up most of its gains, six flags is still down substantially stock's been hammered. both cedar fair and six flags sell for about 16 times next year's earnings estimates. six flags now supports a notoriously b.i.g. yield when i recommended in august it was four turns cheaper than six flags and its yield was 120 basis points larger rather than 30 basis points smaller.

what do you do now it was right to buy cedar fair and forget about six flags in august is that still the case i think it has become a more complicated choice some would say it was a no-brainer to go with cedar fair two months ago the takeover presumably off the table, i could see six flags bouncing maybe to the low 50s. unless you're a trader, it's just not worth trying to chase that kind of move. as an investor, i say stick with cedar fair all it does is confirm what i originally thought about these two names. it's a not so tacit admission from six flags that cedar fair is an attractive asset this must be a steal at 57 plus the fact that six flag ss willing to do this as a stock based transaction. you can view that as an admission their stock is over valued bottom line here even after the shake-up in the amusement park space, i think buying six flags hear is throwing good money

after bad. if you already own cedar fair, i'd stick with it. if you don't own it, maybe waiting for a pullback in this ca nice, nice dividend and who knows, maybe one day a takeover bid. stick with cramer. coming up, knock knock, ring ring, can this doc connect your business and help you ring in the returns? cramer comes knocking with ringcentral when "mad money" returns. staffing a small business is challenging.

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for the past few months, the high flying cloud stocks have been obliterated border rotation out of turbo charged growth names with the little in the way of earnings, which has been the big problem and the selloff has been brutal. there's a reason people are willing to pay up for these stocks before. look at ringcentral, the cloud-based telephone platform that's taking share and names in the corporate communication space. the stock had been hammered from the 140s down to 120s.

then on friday, they entered a deal with avaya becoming the exclusive provider of unified communications as a service. the companies are rolling out a new solution that will transition avaya's existing customers onto ringcentral's cloud-based system their install base serves over 100 million users. that's why ringcentral exploded on friday. if you're catching up grade from jpmorgan after it frankly kind of bizarrely bad close, the darn thing's sitting at a new all-time high. is it worth to it chase the stock? let's check in with vlad shmunis, the founder and ceo of ri ringcentral. it was obviously bigger than a lot of people thought. vlad, congratulations on this huge piece of business >> yes, hi, jim, thank you for having me, and thank you very much for the congrats. >> now, i didn't know, maybe

others did the 100 million? i mean, avaya's that big >> yeah, it's pretty big company, and they're one of the leading companies in the traditional on premise business communications space yeah they have probably the largest base there. >> what were they offering before we've had you on, but we've also had zoom on. we've had cisco on i mean, i would think any one of those companies would love this contract >> well, i can't speak to that, but what did avaya have? well, they have what they have they are a leading provider of on premise communications solutions. as you mentioned, they have 100 million users out there. they're in 180 countries, and they count over 90% of fortune 100 companies amongst their

customers. they're an extremely well-established company. >> when i went on the website, i noticed this deal is not done, so it didn't have you, to me it looks like they don't have anything near what you can offer, that this is a big upgrade for avaya customers. >> well, the one thing that ringcentral brings to this relationship is unified communications as a service or cloud-based business communications ringcentral is a leader in the space where one of the early pioneers and leading, you know, the largest play, the fastest growing. we are a multitime leader in kwa quadrant and what we've heard loud is clear is the fact that business customers want to go to the cloud. we're very fortunate to have avaya select us for a partner. they're leading on premise provider we're leading cloud provider now you have the two leaders

linking arms and improving experience for a very large customer base. >> now, before even this deal, you've been growing consistently you've been in a lot of business, 33, 34% growth is it possible that that can accelerate when this deal closes >> we certainly hope so. it's hard to make exact predictions, but we do know that avaya's customers and frankly other customers on premise folks, really do want to go to the cloud. cloud has multiple advantages. you end up getting a lot more for less huge improvements in productivity, mobility, which on premise providers largely lack as a mo as other mode of communication such as video and messaging, for example, so there is quite a bit of demand, and with this new announcement, we now have one of the world's largest install

bases of on prem, 100 million users and very well-established international partner network, over 4,700 partners that avaya has, so all of this will now be exposed to cloud communications. >> the word terms, i mean, you're buying some of their company, and you have to put up a lot of capital do you need to do an equity offering because your stock's up so much. maybe it makes sense >> it may or may not make sense, but, no, we do not we're able to pay for this transaction with cash on hand and also some equity. >> one last question, we had the good fortune, i don't know if you were even there. you know, we did a meet and greet when we were in san francisco. you have ringcentral people there. you've got a special company you've got a lot of young people who seem to be raring to go for ringcentral. what are you doing to attract

those smart young people >> well, thank you for the compliment number one. look, we provide a winning culture. we have a winning solution we're living in the market, and, you know what? we care about our people we care about our customers. we care about our partners, and we most certainly care about our employees. and i think the word gets around people appreciate that we are a good place to work. >> well, just so people know because a lot of people don't have it, what do i get if a i have ringcentral phone versus what i have now? >> you get leading cloud communication solution for business you get voice. you get video. you get messaging. you get all of this working across the globe ringcentral is in 41 countries now. avaya, for example, is in 80 countries, so there's still room

to grow. we have by far the best footpri footprint. you get instant compatibility with model devices we are able to replicate and in many cases improve on traditional land line desktop based business phone with a mobile device such as an iphone or an android device, and you get all of that for less >> incredible. >> so it's a huge win-win. >> well, congratulations it's the biggest win we've had that i've seen in 2019 great to see you again, sir. >> thank you, sir jim, thank you for having me. that's vlad shmunis. he's the founder, chairman and ceo of ringcentral i know it sounds dopey, but as i look at my avaya phone here, i think the stock can go higher. "mad money"'s back after the break. s back after the break. back after the

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sell and then the lightning round's over are you ready? we'll go alex in indiana alex. >> caller: hoosier booyah to you, jim i'm in the house of payne with new relic. what are your thoughts >> we have to have new relic back on. i don't really quite understand how it could have such a degradation. i think if we had a moment, you get a better feel, i'm reluctant to recommend it. let's go to ed in pennsylvania, please >> caller: hi jim, my stock is lidos. symbol ltos. >> that is a winner. science engineering technology defense spinoff, perfect 83, 85, probably goes to 100 dick in virginia >> caller: it's always great to talk to you. >> thank you. >> caller: my question is i'm holding disney at a loss in my ira due to their recent earnings even with the stock price decline, do you think the soon to be introduced streaming service is enough of a catalyst

for the stock price to recover, or is disney a sell due to their -- >> no, we did sell some much higher i'm actually anxious to buy it back, to tell you the truth. i think that bob iger has great long-term situation brewing, and i do believe that they're going to be able to pull off their direct to consumer strategy so no, i don't want to sell that one. let's go to blake in texas blake. >> caller: buenos diaz i know there's a growing competition in the streaming industry space since it has a 40% off its all time high of a year, i wanted your thoughts on spotify >> man, this thing has just been a complete -- this is a direct listing. it's like slack. it turns out it doesn't have any institutional support. that's why we say no to ipo. airbnb no support, it's just nothing but sellers, and it hasn't done that badly i'm confused and what you do when you're confused, you come on "mad money.

let's go to ralph in florida ralph. >> caller: hey, jim, big booyah from port st. lucie. my stock had a great quarter, it dropped 80 points. can you tell me why, and is it a buy? >> was hit by a short seller who was saying pretty negative things about the drug action don't want to reiterate them, it may not be right and also because it is part of a marijuana cannabis slump the likes of which i have rarely seen what came up went down down down, let's go to richard in north carolina richard. >> caller: >> jim, how are you? >> i'm good, how about you, richard? >> caller: great the stock i'm calling about is carnival cruise line, ctl. would you recommend it at this price range? >> holy cow. i mean, that is just -- it's having such a hard time, and the weather's been bad it yields almost 5%. i am not going to go against this thing right down here arnold donald's a good operator,

a 5% yield it's at 4.89 if it gets to 5 i would buy that that's a big concession from me. that is the conclusion of the lightning round! >> the lightning round is sponsored by td ameritrade ♪♪ ♪♪ that's what happens in golf nothiand in life.ily. i'm very fortunate i can lean on people, and that for me is what teamwork is all about. you can't do everything yourself. you need someone to guide you and help you make those tough decisions, that's morgan stanley. they're industry leaders, but the most important thing is

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as the big trade negotiations with china get rolling later this week, i need you to remember something. please remember this i don't want you to hold your breath waiting for a deal.

i would love a reasonable trade deal with china, even a bad deal would be great for the stock market at least in the short-term you got to understand it's incredibly unlikely even if the president seems fairly positive something could happen this very week when he talked this evening. why? because the white house has seven demands it's not willing to compromise on they haven't budged on these issues and china showed zero willingness to give in china's government would rather take the pain of the tariffs than giver president trump what he wants until that dynamic changes, as much as i'd like to be optimistic about a deal, maybe a little give by the chinese kind of surprise us, i'm not that optimistic the ones that are off the meter by peter navarro the president wants china to stop stealing our intellectual property some of this has to do with software privacy i mean, but there's a little more to it than that after micron, a stock i talk about all the time, the big commodity semiconductor company rejected a $23 billion bid from a chinese company. china wooed some of the micron

engineers and had them build a plant like microns it's outright theft. i got it in the "new york times. the president wants an end to forced technology transfers. china has a long standing policy of forcing companies that want to do businesses there to form joint ventures with local enterprises and that joint venture shares their technology with the government. the government spreads it around to everyone. can you imagine if any other country tried to pull that stuff. it's routine in china, though. there are very few exceptions unless you make coffee, sneakers, kentucky fried chicken. 'the chinese need to stop hacking our computers. i talked to almost every single publicly traded cyber security company and they tell me china remains the number one culprit behind theft the president wants china to stop targeting our businesses for destruction like they tried to do with our steel and aluminum industries. i've seen the impact of this my father sold gift wrap in philadelphia he was a jobber, one by one the chinese wiped out the american gift wrap industry he sold for i think we industrial have some of those last big rolls of paper

made in the usa in our basement. pop ended up working for the chinese competitors who took over he loved doing business with them china needs to stop subsidizing state owned industries i totally understand where this is coming from these subsidies are a major way the chinese target our companies. i also can't imagine the communist party letting this happen they subsidize steel production, mostly as a make work program. that's why new core, probably the best technology on earth and the lowest cost still needs tariffs to compete with china on a level playing field. we want to be able to compete. that's all we want is to compete. six, the white house wants china to stop with the currency manipulation they've been better on this for a long time until the trade war got rolling. lately they've been devaluing their currency to offset the tariffs. you listen to the conference calls of american companies that buy things from china, they keep saying the weaker one is cushioning the blow. that's antiwhat trump wants to happen finally, the easiest demand,

there are lot os nar do well chinese companies, their government has repeatedly pledged to crack down on this making fentanyl a controlled substance in may it hasn't meant a thing. they're still selling it that's what needs to happen before we can see a major breakthrough china wants to placate us by buying some soybeans the white house wants real change until the basic political calculus changes on one side or the other, i don't see a market moving deal happening this week. stay with cramer it's happening..! just ok is not ok. especially when it comes to your network. at&t is america's best wireless network according to america's biggest test. now with 5g evolution. the first step to 5g. more for your thing. that's our thing.

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here on "mad money." i'm jim cramer and i will see you tomorrow ' find it for you here on "mad money." i'm jim cramer and i will see you tomorrow d find it for you here on "mad money." i'm jim cramer and i will see you tomorrow >> narrator: in this episode of ""american greed"... brazen conman john bravata welcomes investors into bbc equities, a real-estate fund that some insiders call the billionaire boys club. >> i gotta tell you that -- and this is a bold statement, but we'll back it up -- not one of our clients ever lost a dollar. >> narrator: bravata's bravado guarantees investors he can make them rich with no risk to their life savings. >> the philosophy that we have and that we use is very simple -- never put your principal dollars at risk. never put your principal dollars at risk. >> narrator: he brings in over $50 million, saying that all the other financial pros are crooks, but he's different. >> we believe that if we can