by cory kluber's no, no. >> 8.5 hands down, easy. >> yeah, you're so good at this. it's incredible. >> well done. >> that's what i was thinking, 8.5, well-done melissa, your sports knowledge eryve ceases to 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 trying to help you make money. my job is not to just entertain you, but to educate youly.

when people in the business screw up, you have to call them out. yet most commentators are reluctant to go there. this drives me nuts of i think we should approach this business with the same rigor, the dow jumped 1.07% let's give examples of what we are talking about with the lack of accountability. last night, cisco systems. one of the largest companies in the world reported and they were blasted in after hours trading and put them down $4 from the close. as someone who covered sports for a business, i was shocked.

i felt cisco, the key metric is order growth because order growth indicates future earnings. this quarter the order growth is so spectacular, that i figured anyone would focus on the dramatic turn around and you saw outstanding growth from their software business no, press ignored the single most important data point and poexed on the rear view mirror and got it completely and utterly wrong. sure enough, the stock rebounded but there will be no penalty for the journalists. how about all the kool-aid coverage of the

crypto-ocrypto-occurrancy but as bit coin caught fire i gave you permission to put half in crypto instead. part of that is because it's scarce and not be gotten easily. and perhaps better than gold, maybe it was true not that long ago, but now that's not the case now. there's no way to tell the good ones from the bad ones however you feel about crypto as an investment, the idea that anyone takes them seriously is pr posterous, after the last say, 24 hours, it was created as a joke but the punch line is there's nothing backing most of the things anyway. but because there's so many crypto-zellots, it's easy for people in the media to keep their mouth shut i am not begrudging, i have made

a ton of money but now i think t got lucky. what about the people who want to talk up their two favorite shots. i'm all in favor of conviction, but game sdl stop, and amc seriously? gamestop has been going down for years, because of digital downloads and for amc, the joke is on the supporters who allowed the ceo to sell is stock to keep his company from going bankrupt. if you criticize them, you will try to tear you to pieces. if an nfl team played two plays endlessly, they would be torn to strategy, not here, it's a bold strategy and you have is the fed that inflation is transitory. there's zero recognition that the monetary policy

paradigm has shifted when you have shortages they are self correcting. powell has no desire toll repeat the mistakes of 1937 he knows that we are a long way from full employment t jobless rate fell to 2.35% without meaningful inflation in 2019 he wants to get us back there. he cares that black unemployment is now almost 10%. and in 2019, it was 5% what makes me madder is what at&t is doing do its poor shareholders there was man, randal stevenson. he decided that at&t needed to get in the entertainment business why? because he decided there were synergy between mobile phones and entertainment and news he has since acquired directv

and time warner. and i have gone through the reasons why he has obtained time warner, and i defy you to come up with a single bit of rationale, especially since it was clear that direct tv was a huge bust. he left the company last year. once we stepped down, another ceo took over, and he realized they had to do something to lessen the debt burden and maintain the shareholder's dividend that they craved. people who owned at&t are not chasing growth, they are widows, orphans and grannies who need income their the least short-term, most long-term and most trusting investors you could ask for. blindly trusting but apparently at&t needed to

spend more money to stay competitive with t-mobile and verizon. he sends time warner for $43 billion in a stake in a company that will merge for discovery. and at the same time, he had been encouraging people to not worry about the dividend, told you it was fine. and goes ahead and slashes the dividend in in half. they didn't say it point blank, but he they talked about it being pay to cash load that is a slash of what the shareholders counted on. they called it a resizing as if it were a suit listen, i'm trying to present the story as dispassionately as possible and you know that. you know i'm not making incindiary charges here. we have things bigger than insults. tonight, we are dusting off something i rarely noose 16 years of "mad money" and it's

called the wall of shame honestly, i could put at&t'ses entire board of directors on the wall but they still have the chance to claw back some of stephenson's compensation. let's see what they do they talk about the criticism comes from people in trading desks who don't understand what a joke. nobody 's less rt short-term than these poor suffering dividend seeking investors randal stephenson, john stankey, welcome to the wall of shame thanks for nothing i waited until a day when the stock was up it rallied $.68, because unlike management , i didn't want to be complicit in destroying shareholder value. here's the bottom line when rich people question why their taxes are going up when they wonder why they have gotten so unpopular. i want them to look at these two names. they are powerful, tough people.

who defend their actions to the end, who are proud of their the actions or at least they act so. but there's no defense, there's no defense against stupidity, and depraved indifference, and sadly not much accountability either, other than the sting of "mad money" wall of shame. i guess that will have to do joe in missouri, joe >> caller: mr. cramer, it's a pleasure to be speaking with you, sir. >> thank you >> caller: long time fan and first time caller and i want to thank you for your investment advice over the years. >> thank you, thank you very much >> caller: the company i'm calling about today, large cap and i feel like it's under valued, recently in the news with disney and net flex deals they have music, gaming, movies, technology, the company i'm calling about is sony

corporation. particularer sony. >> i think sony is under valued because it's sold off, it has great entertainment is properties it does not want to merge them with a cell phone company. maybe that makes it so it's not, let's just say, like another company, how about that? a cingular company you have a very good one there i'm in favor of it let's go to emily in arkansas there, emily k >> caller: jim, i bought chipotle before they announced the raise for employees and it has moved down since then and continuely has how about the thoughts for long-term investor >> it's the single best play in the industry it's been going down a lot of people feel they cannot afford what they are doing that's nonsense. they have got the best, best return per average unit. i think chipotle is a strong buy at $13.41. look

how do you fee fend this i don't know, i can't do it. we had to bring back the "mad money" wall of shame for these two and did it dispassionately but i will tell you, it's a list you want to find yourself on tonight, with the headlines surrounding bit coin you may have missed a wild move in gold. could it be thatch more attractive i will talk to barrett gold and then nearly year after george floyd's murder, i'm silvaing down with the ceo of bank of america to find out how the company addresses underlying issues that people in communities of color face. and last week, president biden signed an order to strengthen u.s. cybersecurity defense with -- stay with cramer >> announcer: don't on miss a second of "mad money." have a question, tweet cramer,

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♪ ♪ crypto enthusiasts have said that bit coin is a great way to hedge against inflation. i agree with that. now that inflation has arrived the whole crypto complex is not doing that well. we are discovering these are more speculative assets, not hard assets. if you want insurance against inflation, i have told you to buy gold sure enough, it's up roughly 12% in two months. bit coin still goes up at

moments like this. and the best way to own it is barrick gold earlier this month, the company reported a strong quarter and took the yield up above 3% if you think it can take a run like last year , we got a chanc to the president and ceo of barrick gold about all the issues take a look. welcome back to "mad money." >> hi, jim, how are you? >> mark, i have to tell you, you are the person i trust, you are a fill aphilosopher of gold, anu said there would come a day that crypto could lose value fast but that's not the way gold works. we a 30% decline in bit coin in a few minute s yesterday was that the revelation that

others need to know that gold's the real deal and maybe crypto isn't? >> absolutely, jim that's exactly it. and you know, i think, you know, i have been saying it for a long time, what can i say >> what i see you doing is offering a product that not only has the real value, but is throwing off enough money to give you a dividend. another sign that's a better asset than crypto. >> exactly and you know, we spoke about this many years ago with rand gold resources and when we did the merging, we set out to do two things three things, fix the balance sheet, employ the best people in the industry so you can deliver good results and make sure that we are return driven because we focus on tier 1 assets >> what i like, there's no

short-term impism with you you have short-term assets and gold in a high price, but what has driven you excellence in engineers and excellence in recovery and esg, if it leads to a great return, better for barrick shareholders >> exactly and you know, it's the whole spectrum of esg, it's not just environment. it's also most importantly in fact social. as we have seen lots of things happening around the world this last year and recently, we need to have licenses to operate and as you i have said to you many times before mining is here, it's a very important part of every day activity it's contributing to everything that we do every day and it's how we do it. and we need to be responsible minors and we need to make sure that we are those minors that are going to be around for the

future >> now, one other thing that you talk about in the last quarter near the end of the conference call is the may 5th conference call you say that, you are asked about copper and you say, i think everyone again has been caught flat footed in the copper price run up, everyone but you, sir is you have a great deal of copper, what ability do you have to expand that to be even a larger part of barrick's mosaic, is barrick ready to prove it from it >> yes, and i think just to put it in perspective. gold is a precious metal and copper is the most strategic metal looking ahead. if you believe in esg, and i'm sure we all do, copper is a key component, whatever you look to, to the future, if you want t

have clean energy, if you want to have clean vehicles, and so, we have 20% of our business is copper, and as you know, jim, i try to do a few things back in 2019, but that doesn't work out. but what we are doing is investing in our future not only hunting for the tier 1 gold bonds but looking on how we can upgrade the quality of our copper portfolio but today, with the copper process, it's a great contributor to our cash flow >> well, i'm looking at what you are thinking about doing, in terms of, you wrote our copper exposure in the most recent sdpek it seems like that you do have the ability to ramp, if you like to, past the 20% of your equivalent there is it possible to just really blow out copper, mark? can you just start producing more copper than you do right

now? >> no, no, we can't. we are restricted unless we want to go and hard grade the mines and as you know, it's a long-term game, you don't do things for short-term. but we have a significant presence in all the big copper regions around the world whether it's asia/pacific, or zambia, and drc, which is the hard grade opportunities and we are in chile and peru, and of course the united states as well >> people in bitcoin are always happy, they say there's a limited number of bitcoin that's why it's value the fact is, there's a limited amount of gold being extracted, because it's hard to get gold is worth the price of what it sells at, would you would you say?

>> absolutely. and a statistic. we have not replaced more than 50% of the gold that we have with mined since the turn of the century. so, as a mining industry, gold minors have not been able to replace the reserves that they have mined not more than 50%. we have only replaced 50% of the gold we have mined so we have talked about peak gold in the past, jim. it's a very real situation and you can't make it up there's one thing you cannot do, no one can print gold. >> no. >> we can still make crypto currancy. >> they can't print gold, that is why you are instrumental in me saying since we started the show 16 yearsing ago, put 10% of your assetss in kbgold, thank y so much is i love to see you, thank you. >> thank you, thank you, jim >> i don't mind you doing crypto, but remember gold's the

real deal. coming up, they have committed to set the standard with a $25 minimum wage. can bank of america reward investors and lead the financials in the post pandemic recovery cramers that ceo, next in business, it's never just another day. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it. comcast business powering possibilities.

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♪ ♪ late last year, we had the honor of speaking with bank of america ceo about his plan-s to help build wealth in under privileged communities, including direct dpeposits in minority owned businesses and institutions we heard about racial justice last year, unusual for big business and i was not sure if the companies would follow through. but some of them put their money where their mouth is just this morning bank of

america already put $250 million to work in minority focused funds. they are raising their goal up to $350 million. they made 17 direct investments and community development financial institutions oh, and two days ago, bank of america decided to raise the minimum wage to $25 in the united states. a very bold move i think it's easier for management to get away this kind of thing because the stock has been on a tear up 70% since november. and it's still cheap at 14 times earnings when i say get away with, this man wants people to be compensated well let's check in with the ceo of bank of america, welcome back to "mad money." >> hey, jim, it's great to be here again and thank you for having me. >> of course brian, you are -- i'm going embarrass you for the second you may be the world leader

anyone inclusive capitalism. i know you don't go around saying it. when i see something like this when you went for your goal and added more and i read through the institutions you followed up wi with, you are a man of your word and you are the leader >> how we are doing it is a talent of people working for us. let's stay with the private equity funds and venture capitol, we said we do 200 million of the billion dollar program. we ended up going through it already and we have 90 funds, $250 million so we raised it to $350 million how do we do it? we have investment bankers

helping us 25 investment bankers helped to work on it interest and we went to 90 market presidents and they found them and we are proud to say we have with $260 million committed today the, and 92 funds committed as of today and complete a couple more and we will keep doing it 74% of them are run by black fund owners, 20% of them is his panic fund operators and fi fifty -- 50% and we will round it out with native american and asian american money as we move this through >> i want to see what they do when they get this money a owner from visible hands in boston, one of the organizations that was given money said in 2019, 10,000 millionaires were created in silicon valley after the ipos and acquisitions of technology start-ups i want to chase the face of 10,000 millionaires to be more

pr reflective of the u.s. population is that possible >> it is if we put our money where our mouth is we are not giving it away. we are giving it to people that will invest in companies and it will help because the companies will employ a diverse population and the companies will share in the wealth created by the partnership and the operator of the funds will create earned wealth for them and wealth across their life types we feel proud to help this but it comes from being focused on doing the right thing for shareholders and earning good money for them and delivering for society back to the -- we have talked about it from time to time. >> and it comes from the way you were brought up and your ethical beliefs. it comes from things that people were taught to check at the door when they got to institutions like the one you work at

>> well, it's not me it's our team that does such a great job. and you and i had danny williams on from southern bancorp and we talked about we have completed 17 deposititory institutions we will continue to work on them. and you know, someone doesn't need the money, but if they do, we are there to help the equity grow and supply businesses we are supplying real time payment helps for the institutions and we are trying to help them any way we can to serve the communities in ways it couldn't it's a team that does all the work and it's wonderful to be with a talented team that produces the earnings we need to produce and delivers for the community. >> a lot of people are concerned about inflation and worried about wages. i'm worried about wages and you are worried about wages. people don't make enough in the country. i hear people saying, $25 minimum wage, how are they making the numbers

how about the fact that people deserve $25 an hour, because they work hard and they are part of bank of america. >> we have a talented team, a few years a decade ago, we took a look and said, our company should be good owners and we want to hire people with career mind-sets that stay with us. and we started on a path we got to $15 an hour and then we got to $20 an hour and now we've said $25 an hour turnover is way down the people are more committed to the company. they do a better job for teammates and you cannot think of a year that they have had to do so much for customers and clients. those teammates in the branches and call center, all doing a lot of work in conditions than they have had and we said is no lay-offs last year and we got through it we provide great health care and a child care benefit for $100 a

day. so people can take care of the kids and we are pushing the wages up, we want our teammates to have a career mind-set when they join us and stay with us. and we want that kind of talent in our company and we are willing to pay what it takes to get it >> i could not agree more in the time we have left. the health of the consumer, i believe, is actually not equal there are some people who are not doing well and you are doing your best to help them but there are a lot of people in the country who actually, the consumers are getting healthy, aren't they? >> yeah, it's been, so start with on the debt side, you look at debt levels are down on, delinquencies are places that the industry has never seen them and unemployment was all the way up to 15% and now is around 6% here's a statistic that i had the team look at the day before. or yesterday for people with less than a thousand dollars in the bank account are now running 7 times that amount in their account people had between 1 and 2,000,

they are running five times and two and three times, they are running more even with spending up 20% over where it was in 2019, so, think about that growth in the amount of spending that is 20% bigger than when we are rolling along, think about it with this much money still in people's accounts it will bode well as we get people back tot work get the unemployment rate down the wages are rising it's good for the economy and good for america. >> thank you no complaints about it it's good for the economy, it's good for america, it's good for bank of america shareholders too. what's the matter with that? i will not mind saying it. you are too humble to do it. thank you for everything that you do, sir, thank you >> thanks, jim, we will see you again soon >> it's okay businesses are the greatest source of social changing in the country. mad money is back --

♪ ♪ the cybersecurity stocks have stalled over the past few months, out of high flying growth, and many of the companies keep delivering incredible numbers and maybe we have gotten to the point where it will matter again take palo alto, they are down $50 from the february highs even though they are doing far more than anybody can ask they reported a excellent top and bottom line. and raised the full year forecast in response to stocks getting lift so, can it keep climbing let's take a closer look we have the chairman and ceo of palo alto networks

and it looks like the combination of work from home, which you said would be hybrid and proved to be right far earlier than everyone else said and the most recent cybersecurity issues have produced a focus of, on security that is unparalleled and your company is really, really at the forefront. >> yes, jim, well, as you and i have talked about this a lot before, this work from home thing is here to stay. and what we are noticing is, most large companies are now very focused on creating an equitable environment for people wherever they work from. that equitable environment can be created if you have the same technology and enterprise working from wherever you are. and it's a phenomenal up lift in our remote security products and sassy products that you call them, are going up and to the right. we talked about giving away free trials to our customers and we are seeing the fruit of the trials coming true in the

expectation of our customers secondly, as you highlighted the conversation has gone from the i.t. department from board rooms and the white house. if you go back to what is causing the ransomware attacks is the solar winds and others of the past hackers go in and settle in to large infrastructure, and people say we dodged a bullet, they will get there if you can, you have to go ahead and protect your enterprise, the hackers are going to get in. >> we heard a very good financial company, one of the best i know, paying $40 million for ransomware, the company is seen as an excellent company and the colonial pipeline had to pay. what it says to me, are they spending enough are they calling you and saying look, we cannot afford for the

b-package or the c-package you have to give us the a-package. are people understanding it has come to that >> you know, jim, the challenge has been that cybersecurity has been bought in a fragmented fashion just the way i.t. was bought you have to make sure that your pieces of cybersecurity work together we talked three years ago and i said we will build three platforms. and we have. those platforms are helping us out. i think we are seeing increased attention from our customers in trying to make sure their, sort of infrastructure is secure. i think we are in the early stages of the journey. a lot of companies have to go back to the drawing board and rethink their cybersecurity positives which you are and make sure they are protected. today, technology is the lifeline of your business. if your technology stack stops, you cannot work. you are seeing the reason people are paying for ransomware is

they are locking you on out of your system and your business stalls. >> one thing that you taught us, as much as palo alto was an on premises cybersecurity company you decided that was not enough. you want to be in the cloud. what i thought was interesting on page 16 of your deck, sure enough, you are now the largest cloud security company in the country. i have talked about other cloud native companies and said, hope you catch them and you caught them and passed them. >> if you look at the different parts of our business, jim, there's network security part. now, what is fascinating the market is too focus ed on hard work only network security companies. if you look at what we have with done, in the last three years, 40% of our business is software. i am sure you are going to talk about chip usuals.

we are less depending on chips it's easier to maintain and the world will shift toward software defined security and we are almost there, 40% of our security business. in addition, we built in cloud security where we have 250 customers. >> well, look, i think you need partners and i thought, again in your excellent deck. clearest as i think you have done you have two partners, actually, three partners that you need service provider partners. you have orange. i'm not as familiar with them. i know they are huge but comcast business, i work for comcast and verizon. those are who i would say you need if you are working from home and being protected is that the meaning of the partnerships >> what is happening, jim, we rely on our telecom companies to have reliable access you have to have reliable access wherever you are and now that has to be coupled with reliable security. what we have been able to do is work

with the service providers to make sure that we are the security partner they are the best of breed access providers and that allows large customers safe >> you highlight three, but you have multiple eight figure deals or you would not be able to have those incredible numbers or the ability to be able to forecast these are not one-off deals. >> yeah, jim what is interesting three years ago, when i joined i said to the team, there's two ways to keep doubling the revenue, keep doubling the number of customers or the number of value you give to each customer we are trying to provide a platform of capability that allows the customers with a more secure platform and we are providing better value across multiple platforms for them. it's good for them and us. >> and good for shareholders

too. it's what we need in a time we are discovering ransomware is being paid, and it should not be but some companies have no choice, because they have not done the work. chairman and ceo of palo alto networks dw congratulation las and great wo >> if we have to try to have it, let's do it with a company that knows how to stop it mad money is back. just chill out >> the chill man is in the house. he is happy. >> the lightning round is coming up when "mad money" returns. incomparable design makes it beautiful. state of the art technology, makes it brilliant. the visionary lexus nx. lease the 2021 nx 300 for $349 a month for 36 months. experience amazing, at your lexus dealer.

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lightning round is responded by td ameritrade

♪ ♪ it is time lightning round. and then the lightning round is over, are you ready? let's start with zach in texas zach >> caller: jimbobooyah, what is up i'm calling about a company with power train systems that can be fitted for commercial vehicles they are been ramping up their --ly sell off, and reported acquisition last fall what do you recommend on ticker -- >> i will tell you what happened, these companies are all doing what they should do. but the market does not like them as much as they used to

including hylion, let's go to steven in florida, steven. >> caller: yes, hi, thank you for taking my call, mr. cramer. >> of course, steven >> caller: i'm a 74-year-old vietnam era veteran. and i have a lot of in -- the basis is 15.85 what do i do >> that is bill foley, he has made about $100 billion for people i thought he came on and articulated a strong position. if bill is in there, i think you can buy more frankly jimmy in oregon, jimmy >> caller: hi, jim, hope you are doing well >> doing good, thank you for andan i -- >> caller: thank you for all you do, i had my best year in the market in 2020 >> thank you, thank you.

>> caller: i'm calling about -- backed by one of your favorite companies, leap year motors, i wonder what you think about shift technologies >> you mentioned lithia, they did a huge deal, what? 3.1 million shares down about ten and rallied, where did it go out? they did fantastic and of course, they got up to $8 that's the one to buy. they are very, very good we need to go to jimmy in north carolina jimmy. >> caller: booyah, mr. cramer. want to give a quick shoutout to my mom who turns 92, who is a big fan of cnbc and mad money. >> tell her thank you for watching and happy burtirthday. >> caller: thank you my stock is symbol utz -- >> they did not have a good

quarter. they are showing what it's like to not have the scale. i prefer you to buy pepsico, we are in a time where freight and cost is going up and utz cannot pass it on as easy as frito-lay can. and that, ladies and gentlemen, is the lightning round >> the lightning round is sponsored by td ameritrade coming up, cramer's warning. sometimes it's not what you buy, but how you buy it next tomorrow, kick off the day to squawk on the street >> are we past the joke stage? >> we are going find out, jim.

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coming up, doctor fauci live on masks and schools and booster shots and more and cease fire in the middle east the news, minutes away ♪ ♪ ♪ ♪ regulation isn't rocket science. some of the stuff is very straight forward, especially when we are talking about the

use of borrowed money to buy securities or similar assets yesterday we saw an asset that was worth a trillion and dropped 30% and then came back 30% a few hours later. if anybody knows anything about securities this type of movement caused by over leveraged traders could not put up enough capitol, when you buy using borrowed moerngs your broker needs collateral so when your investment loses value, you have to put up additional cash. if you cannot come up with the money, they liquidate the position i cannot stand it when they fail to understand the power of their words with a turn of phrase they can create more order. either treasury sector chairman needs to come out and say they

are uncomfortable with the leverage they are seeing in the crypto markets that is it today we saw how crypto currency can shift their income tax free, which is a problem but it's not the biggest problem, which is stopping the crypto margin train wreck before it happens meanwhile the fed musing about issuing a white paper on crypto. you do not need a what it paper to notice when there's a speculative asset. i glad they are examining the negotiation of the submissions with crypto, by this summer, by then, it may be too late what can they do without making new regulations? they can talk. this is what i want to hear. i quote, we don't like how much leverage we are seeing in crypto we urge individuals to get off margin and not lend people to potential buyers of these securities and then follow-up saying they are seeking to shut down companies giving 100-1

money, meaning everything dollar you put up gives you $100 of crypto currency of choice. they can fire a warning shot they should announce that they may not have the power to shut down the institutions right now. they will eventually comer after a brokerage that offers more for crypto than stocks without a bit of rule make they can stop it in its tracks before people lose 10s of billions of dollars in shadow institutions that we don't know about going belly up far too many regulators under estimate the power of their own words but words can add an element of prudence to the wild west behavior. it was a book on how investors were getting bilked out of billions, just because he is fcc chairman doesn't mean he cannot

say something about the crypto craze. it's important that he does it here and now way back in 2006, the federal reserve knew people were buying homes with no money down and shoddy documentation and watched helplessly as the securities were traded around the both as mortgage bundles and the fed did nothing but raise interest rates after raise interest rates and throwing the economy in to a terrible recession is. i wonder how things would have been different if benacke this is just said, i favor banks that insist on making people put 20% down, you still could have had a me melt down but not the great recession. if they want the crypto on currency to end, rather than leaving the regulation up to elon musk. they have to open their mouths and condemn it the fact that they seem

reluctant to use the bully pulpit is disappointing. if they don't issue the kind of statement against leverage immediately, i think they will come to regret it. i would 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, see you tomorrow the news with sheppard smith starts now. the calls for it to stop has been escalating for days explosions shaking gaza city from israeli air strikes hamas firing more rockets. will the cease-fire take hold? covid recedes, but what about masks in schools or regions where people don't want vaccines covid surge in the fall? i'll ask dr. fauci he joins us live