embrace the volatility >> dan >> intel for a bounce. >> guy >> warm sour dough butter. nothing better fire eye, melissa lee. >> i forgot about the sour dough conversation thanks for watchin 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," other people are here to make friends. i'm just here to make you money. my job is not just to entertain, teach, call me 1-800-743-cnbc or tweet me @jimcramer.

i'm trying to be jimmy chill, and i keep seeing people say the dumbest things and it's beginning to drive me nuts this morning, it was some analyst talking about how you can track every move in this market by watching the fed and the money supply i don't know whether to laugh or cry, tears of a clown. the dow edged up 39 points, gaining 2 .2%, nasdaq advanced 1.2%, a record close this whole notion of the fed as grand inquisitor is so out of touch with reality, with the warfare of the moment, you know what, makes me want to gag you don't want to see that forget the big picture stuff there are two things you need to keep track of when you're picking stocks right now the sector and the company, which includes the people running it you want sectors that are in bull market mode

and while filing with the fed can help, it's telling you a small portion of the story you want to stay away from underperforming groups, and battle grounds and just go with what is working. so let me show you how to do this let me show you how to apply this two-pronged test with some examples that can make you some money. start with the semiconductor stocks they're in raging bull mode. there's a host of great ones to choose from. nxp, that's for autos, the domina dominant maker, qualcomm the cell phone, marvel tech, they call it hpc, i prefer amd and nvidia, they make incredible products, and they have fabulous leadership lisa su is closing in on one of the biggest deals of her life, which will help diversify more

than just gaming and computers even when it only seems to be raining on intel's side of the street as for nvidia, i like to call ceo a modern da vinci, a painter, draftsman, scientist, engineer, and architect. the only difference are di v vivin as i told members of the actionplus.com club, if nvidia can close on it, it will become the most important semiconductor company of our time. it's pretty close. the government is using chips for amd and nvidia for the super computer doesn't that say it all? next up, housing, boy, isn't that incredible at this stage of the cycle. there's so much demand from high p

-- hybrid workers moving from the suburbs. longer trade will turn on the demand for homes in a country under building for a decade. homeowners with land, the best land, and toll brothers, which is on tonight. that's how you pick a long-term winner they need the land third, what an incredible bull market for the financials. gol goldman sachs, morgan stanley, wells fargo, bank of america did you see this trade today they are trading small caps when huge buyers come in all at once, why, they're incredibly cheap and could be a few months away from the rate hike psych m relative to the rest of the market, their stocks represent the greatest bargains in these stocks these days. it's easy to like goldman sachs which trades a ridiculously low, beyond that. and that's even after it's 56% run this year, crazy cheap, same for j.p. morgan, cheapest i have seen it relative to the group. i say go with morgan stanley and

wells fargo. morgan stanley is not a bank anymore. that means it's bank light i like that. wells fargo was so horrible. you have to wonder why they have warren buffet stuck with it so long, selling near the bottom. these days, though, it's a turn around story i believe in the ceo charlie sharp, he's tough as nails, and done playing defense by fixing everything from the board of directors to direct reports. he's on offense, will buy back a mess of an amount of stock i expect wells fargo to return to the high 50s where it was when all hell broke loose. stay the course. i like the bull market and retail survivors, it's it too late to buy something like dick's sporting goods, up for the year now a special dividend, laying out a multiyear strategy, and based on that plan, the stock is cheap. still, i prefer best buy, which spent a fortune on digital, and has a membership club that will take care of your home office tech support needs, and also bed, bath and beyond, up 62% for

the year this is a turn around story, and what i have seen from the looks of the flagship store in new york, you're going to want to have a lot of these places, this is coffee. they have all the tech youneed in terms of shopping and buying, but what they really have is something i like to call whimsy, something that you can only really find at costco until recently i think ceo mark triton will take bed, bath for a multiyear run. gamestop remains the most beloved stop among the memesters, you keep making funny drawings that aren't that funny. bed, bath has a 22% short position and they're all fat cat cle s. it's too good to be a meme stock. fifth, the most unknown bull market is agriculture. anything ag from machinery to furniture, but that deere

conference call last week, i offed at cathie wood, the best money manager of 2020, when she said she was buying deere tech she nailed it. the technology deere talked about is truly revolutionary it will save farmers billions of dollars in wages because everything is autonomous finally there's a bull market in what i'm calling responsible energy oil companies that have gotten disciplined about spending money while being a lot more ecofriendly than they used to be you want to buy prudent, devin energy or pioneer natural resources. not to mention, balance sheets, the envy of the strategy, as pioneers are very smart. if you want environmentally friendly oil stock, that's no longer an ox moron we have gotten belligerent on climate change, you know what, guys, listen to me, darren, you watch the show all the time, go

by denbury, you're going to be a hero i'm referring to the ceo of exxon, i'm not on a first name basis with, but he's a terrific guy. the stock never should have been so low in the first place, and therefore i think, darren, this is your chance vindicated you don't even have to thank me. that's what's so great about being jimmy choo, the bottom line, wait for the fedex experts, and wait for the virtual tee time or forget about the money spot of the central bank and run with the bulls. it's not like they're hard to find in this fabulous market thank you, johnny gilbert. i don't think i can do it because i'm not favored. is it the hair what is it manny in florida, manny. >> jim, booyah booyah. >> i'll see you two booyah and raise you a booyah. >> thanks for helping us all make some money, and you're very

entertaining doing it, i mean, what a show. >> thank you >> so starbucks, the feel good morning drug, the coe in this business, margins are great, they continue to beat earnings as a brick and mortar, did outstanding right through covid. it's come down in the past month but something you said brilliant last week in one of your segments buy into companies that go through price increases, and it wouldn't matter starbucks can raise their prices tomorrow by 10%, who would blink, it's coffee. >> nobody would. the cappuccino, $6.22, you're right. starbucks at 1.15 is a buy right here, right now. manny in florida, got horse sense. if you want to run with the bulls, you need to keep track of two things picking stocks right now, the sector and the individual company, meaning the person who runs it you want to pick from sectors in bull market mode, and these

stocks right here, all fit the bill, especially leonardo da vinci, on "mad money" tonight, salesforce reported after the bell could the force remain strong, competing with the likes of mr. softy, and don't miss my interview with the ceo and why don't we check in with the to be brass at that company. snowflakes, delivered earnings tonight, stocks started lower, then they started to levitate, and why not. is frank slutman the best of the best stay with cramer. >> don't miss a second of "mad money" follow can@jimcramer on twitter. send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something, head to

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for the better part of a year, salesforce's stock was held down in anticipation of the deal the stock has rallied 8% today salesforce reported a terrific quarter, on every line with great guidance. could this be the beginning of the next leg up for the stock. let's check in with marc benioff to find out what's ahead welcome back to "mad money." >> it's great to see you, and hello from geneva, switzerland. >> i like your numbers, i understand this to be your fifth phenomenal quarter in a row. i want you to describe what the word phenomenal means. >> i think salesforce has transformed into a herd of

unicorns and we are galloping through the global pandemic, and it's our new customer 360 world we're in it's amazing what has happened. >> this morning i'm reading about ikea, and what i was struck by is now you have a big customer win, ikea so i know everybody in the world knows ikea, i always thought it had the best customer service, best retention how do you take it up a notch with salesforce? >> well, you can see, jim, this has just been a phenomenal quarter. again, you just had incredible record revenue growth. lock at this margin expansion. it's just amazing, we're more committed to expanding our margins than ever, and on top of that, solid cash flow improvement, and it's really amazing. let me tell you about a kia for a second i love jasper, the ceo it's a company that has gone through a huge transformation. digital transformation like so many they want to have a success from anywhere world they want to be able to sell

from anywhere, service from anywhere, market from anywhere, and now with slack, they can collaborate and share and do everything from anywhere. >> i'm glad you mentioned slack, and i'm glad you're in europe to be able to test this when i put on my hewlett-packard, what happened is teams it's almost as if i have to have teams whether i want it or not that's something the ceo of slack told me he thought was wrong, which is why he's bringing antitrust in europe is it time to drop the suit and let bigones be by gones. >> why i'm so excited about slack is it's our new user interface through all of our products when we get to dreamforce, you're going to see a whole new version of the sales cloud which is a new version of our service cloud and a new version of our marketing cloud, and commerce cloud, and you know, it's an ama amazing product and you look at the millions of users that are on slack and the transformations they have made in the workplace, well, that's accelerated during the pandemic, and as we move to

success from anywhere, slack has become more important than anytime before, and now integrating with salesforce, well, this is really the best of both worlds, these two things coming together. >> now, let's talk about giant deals because i often feel that i don't get those until after the call, but you must have won some nine figure deals, and with this kind of cash flow, and these kind of orders, let's hear it >> jim, that's not true. we always talk about our customer success, the thing i love doing, and it's why i'm here in europe because i'm meeting with so many ceos, and you know, we're really back to work globally, and i'm excited to be back on the road and meeting with customers and i'll tell you, jim, one of those excites stories is dave mckay at rbc and canada you can see that we have won a massive transaction there but it's really about giving him and his company the ability to automate with our financial services cloud he's completely built rbc, not just through acquisitions but

now this new technology harness. and we're excited to be very much a strategic part of that, and to help automate his sales organization and service organization, and again, helping them to be successful from anywhere it's a great story >> now, i do think that the banks are badly in need. but i'm not sure, are there any ba banks left now almost every bank i deal with tells me they use salesforce. >> we are doing just fine in financial services, jim, and it's been amazing. i'll tell you another great customer story because i know you love customer stories. well, herman miller, the company i grew up with is now known as miller knoll, and it's another amazing story where we have rebuilt them for this new all digital world, and that includes our commerce cloud where they want to sell all of these incredible products they have. i use so many of them myself, you know, right online last quarter, remember we talked about sonos and how we have

transformed sonos, now you can see with commerce, we are able to transfer miller knoll and take this incredible company but make sure they can be successful from anywhere. >> i have been recommending that stock. they did not have direct to consumer until you >> that's right. >> i got one for my wedding, mark, it was a pretty darn good present, and i wanted to go online to get others, and now maybe i can to get you i want you to talk about something you haven't talked much about that is incredible, who's the best venture capitalist in the world. that's easy, salesforce ventures, how much of it is you just knowing what the future is? >> well, jim, we have been very fortunate to have some great relationships with ceos who are building their businesses and going public we have been about building an industry, not just a company, and you know that, and great companies like zoom and

snowflakes, and other companies, some you hear about like encino, for example, and all of these great sass companies, we're trying to be a part of everybody's ecosystem, and that's been incredible part of what we have been. >> start up, encino. >> our banking has been left behind but the people who run encino and start up, those are two of the smartest people i have ever talked to. >> you're right. that salesforce ventures is probably the number one venture capital company in silicon valley, and the other they think that's been really cool is we have been able to, you know, manage that, but also make sure it's right for our investors we're more focused on our margins than ever as well. we delivered outstanding margin performance this quarter, and even three out of the last five quarters, we delivered more than 20% margin, and you know, we're giving in acquisition, momentum that we have had a bit of a rest so we can really focus on these

acquisitions, and deliver this incredible growth and capable, and you can see it now in these amazing numbers. we just raised, jim, for the years, $300 million to 26.3 billion that's going to be an incredible year it's not just about the absolute number it's about the growth rate as well it's been awesome, and not just in revenue, and margin, and every key metric that indicates this is a very successful company. >> it's true >> really a herd of unicorns. >> one last thing, you have not been able to solve the pandemic, though you probably tried more than anybody else in the country, the world delta, back to work, not back to work central office, stay at home dr dreamforce, no dreamforce. >> it's a tale of two cities i was in san francisco yesterday, geneva, switzerland today. my customers in san francisco yesterday, and i legally have to wear a mask. i can't really open my office.

things are really closed down. very worried about the pandemic, and geneva, it's a free for all, and everybody is meeting with everybody. they're not concerned about the pandemic for them this is a new world a lot of things have changed for customers in the new world, whether it's europe or the united states and one of them is really return to work, and the phenomenon that i see happening globally is not as many employees are coming back into their offices locally as any ceo expected, and you're really starting to see some very low attendance numbers in offices because employees are so productive at home and they can do their job at home, be successful from anywhere the companies and our customers are successful it's incredible, but the way they're being successful has completely changed and so the pandemic is a tale of two cities but the new normal is not. we're starting to see. you know, this new normal

appear, and business is going to be quite different as we come into this new world. >> you're way ahead of it. congratulations, an amazing quarter. there will be neigh sayers they have been since 2008 dead wrong, marc benioff. >> thank you, jim cramer. >> thank you, i hope to see you soon. >> the stock opens up big on a great number, and the naysayers come in. coming up, got to pay the toll to get on a roll, cramer's got the interior scoop on home building, when he sits down with toll brothers next

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demand for single family housing is surging, but they

can't build enough new ones to keep up. i call that a high quality program. they can charge what the market can bear take cramer fav toll brothers, the high end home builder that reported an excellent quarter. their average selling prices and gross margins were stronger than anticipated, a $0.33 earnings beat contracted homes, backlog, record levels, that means this fundamental imbalance between supply and demand is here to stay tolls are up 4%. a lot more up side let's take a closer look with the chairman and ceo of toll brothers to learn more about the quarter and what he sees going forward, mr. yearly, welcome back to mad money. >> great to be here. nice to see you. >> same. i'm beginning to realize there's been a fundamental change in your business because of ten years of under production and because of new cohorts that want

homes, we are now no longer in a cyclical moment for housing. we're in a secular growth mode first time in my career, and i want to know, how did that happen >> wid brought a demand out in the early days, when rates dropped to 2 and 3/4 percent. renters figured out they could own a home for the same monthly payment. a lot of people realized they're going to be home for work, and started migrating to places they wanted to live, versus where the job had tethered them. and people wanted new. they felt a little unsafe, a little unsure, they were nesting sk , and they wanted to live in a home no one had been in before, and it really just started the beginning of bringing out the ten years of pent up demand that we have been waiting for, and now that covid is getting close to being behind us, the market is normalizing a bit we're certainly not as crazy hot as we were a year ago, but we have settled into a really

strong, solid, what feels like long-term, as you say, secular housing market we have low rates that i think are going to stay relatively low. we have 70 million plus millennials that are forming families we have people that are, as i said, migrating to where they want to live very tight resale market very little new home supply, and you put that all to go in a long-term demographics and the long-term prognosis looks really good for the industry. >> so doug, i think those things are amazing. it's one of the reasons i love toll i know toll for, i don't know, what, 40 years, and sometimes i think that you got a fabulous price, 70,000 compared to the second quarter, but doug you're a common sense person, are you not afraid at a certain point toll has to charge more than you would like for the good of toll? >> well, you're right, jim, we're up 20% in the last year in our pricing, and there's no

question we have to be careful with affordability we have changed the company quite a bit. we're now 40% of our homes are in a line we call affordable luxury, which is going after primarily millennial first time buyers, a little bit older, maybe they can afford a little bit more home. we call it the three series bmw phenomenon so we are very aware of making sure we done push price too much a lot of the migration right now is very expensive areas like california and the northeast and the northeast down into the carolinas, georgia, and florida, and from california into idaho, nevada, arizona, austin, texas, and so those moves from very expensive areas to live to more affordable areas to live make the issue of affordability as prices go up, much less acute,

and we are certainly mindful of our pricing, we'ring ge going t careful. long-term we're going to be in good shape, particularly as we bring prices down, as we expand our footprint, expand the geographies we're in and focus a little bit more on some lower price offers. >> how do you anticipate where to buy the land? one of the unsung things that i read in this quarter is you had the land where people needed it. how did you have the vision for that >> we have been astute land buyers toll brothers owns land at the corner of main street and main street in every town that you want to live in. that's what built this company coming you have philadelphia in the northeast when bob toll started this company, there weren't big land developers to feed you land, you had to go out and find it. we're really good at it. we have continued to focus on our land position. we are much more capital efficient as we buy our land

today. really focused on driving return on equity through capital efficient land buying but we have the best land and the best markets around the country, and i guided today that we're going to have significant community growth in our fourth quarter, another 10% plus community count growth in 2022, and plenty of land that we control today to also have significant community count growth in 23 so we are really well positioned to continue to grow this company, even if the market is not as hot as it was in the early days of covid, and even if the prices don't go up as remarkably high as they have, we are going to grow because our community count, our land position is so vong that that's going to help us continue to grow the company. >> i would be remiss, one last question, to not ask about this terrific deal with the company i happen to love, equity residential, a great partner for you, where do you envision that going. >> we're excited about the joint venture we mentioned yesterday

with equity residential. they are the leading luxury apartment owner in the country you combine that with toll brothers, america's luxury home builder and we're looking to develop apartment communities for eqr. they will buy us out at stabilization, which allows us to turn the investment faster. our shareholders want to see us turn that investment faster, not hold the apartments long-term. this venture allows us to do that starting in a half dozen premiere markets, i see this growing to be significant. we're really excited. >> one last thing, lumber did collapse, can anyone else do that, are we just going to be stuck in a non-transitory moment of commodities lumber will help you in the future >> yeah, so lumber is down $40,000 a home we're going to see the benefit of that in the second half of '22. we got crazy high. we knew it would come back we have been very happy with how

quickly it's come back i think it's going to stay down. but there's other cost pressures that we're feeling so that the tail wind of lumber coming down is very comforting it's going to help us. it's going to help drive some margin i think it's going to also offset some of the other cost increasi increases we're feeling. there's supply chain issues, labor issues, it took about two weeks longer in our third quart tore deliver a home. we expect that to continue for a couple more quarters as we manage through it. we have great relationships with suppliers and with our trades but there is pressure so while it's been very comfortable what's happened to lumber, it's going to be protection against other cost creep, and it's going to drive margin in the second half of '22. >> this was a remarkable quarter, the land and the affordability and luxury, you got it all covered, doug yearly, the chairman and ceo of toll brothers great to have you on the show. >> thank you, jim, take care.

>> this company is a company a lot of people think it's going to roll over it's not that toll brothers. it never was as bad as the others but it is the best "mad money" is back after the break. >> announcer: coming up, ready for a late summer flurry, cramer chills out with the ceo of snowflake, next. well, would ya look at that! it was an accident. i was— speaking of accidents, we accidentally left you off the insurance policy during enrollment, and you're not covered. not even a little bit? mm-mmm. no insurance. no. when employees can't enter and manage their own benefits enrollment information, it can be a real pain. not even— nope! with paycom, employees enter and manage their own hr data in a single, easy-to-use software. visit paycom.com and schedule a demo today.

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how do you know when a high flying growth stock has grown into its valuation, consider the case of snowflakes, cloud based data analytics company came public a couple of years ago, stock trading a hundred times sales. since it's been hostage, even as the company is putting up

excellent quarters snowflakes reported they're having a strong quarter, excellent guidance let's check in with the incredibly bankable frank slootman, hear more about the quarter. welcome back to "mad money" gl g >> good to be on with you, jim sometimes i have to study and study and read books to understand, but i know this, when someone is putting up a retention number that's north of 100, actually 169%, that means once you're in the door, you're just going for the grand slam, aren't you >> yeah, it's really a function of us, you know, being able to enable the demand that's been literally been bottled up historically because of fixed capacity limits. you know, shortcomings in architecture and so on people couldn't do what they wanted to do we're now at a point, it's a budget and your imagination that are your limitations, not that those are small items. it's not the same as having hard

physical limits that will hold people back. >> i like the fact, this is a bit of a tutorial, you enable demand, you don't create it, you allow it to happen can you please tell me what you're allowing to happen with disney and nbc with their own network within snowflakes's data cloud. i must understand that better. >> yeah, so in media, the advertising cloud, as we call it, there's a lot of stuff, you know, going on, obviously there, there's a real dominance, notably, obviously google and facebook, and amazon and then we have sort of the whole cookie files disappearing, but we have new players like this, who have, you know, tremendous data, but they need to have the ability to enrich that data, to add attributes to they data and make it far more weaponized and potent for advertising purposes to the point we can compete with the

world government of course, privacy laws, compliance and so on are really standing in the way to allow that to happen and to unfold, and through our data clean room capabilities, we can really overcome those privacy constraints to allow people to enrich data, share data, without violating privacy and compliance laws that's what's trodriving that. >> that can apply to public, and retail you have a huge business, health care, that's also the same financial services they all need that consideration. which leads me to the broader goal which didn't come up as much tonight, but did come up in your analyst prediction. you have a bold prediction you and i, marc benioff, we know, if you can get 10 billion in revs at that point, that makes you the fastest growing enterprise software company in history. what gives you the confidence of being able to do that, seeing you're doing 500 million so far? >> that was 500 million in the first half, right, so, you know,

you extrapolate that, and by the way, we break that $10 billion down in such a way that our investors can follow along, you know, quarter after quarter, you know, how many customers, how many million dollar customers, we have all the metrics so they can follow along one of the great things about the snowflakes business. we don't have to do large acquisitions like so many companies to do to build runways in front of their companies. we're not just in a large market, we're in a market that's dynamically unfolding in front of us. there's no telling how large this thing will get, and we're just here to enable it to the absolute best of our abilities, you're seeing the effects of that in our reporting. >> you got your contract, a 3-year, $1 million deal. i'm beginning to think that the deals you have are going to be with every single company in the fortune 500. you're going to have a series of million dollar deals, $2 million, $3 million, i see how you're going to get it t but i think people have to understand that it isn't like

either/or. you are not wrecking someone else's business model when you're doing this from what i can tell. >> well, that's true it's not a static equation we often say look, it's not very helpful to look at historical market numbers because the market is completely different right now. and it is unfolding in realtime. it's got to be something very different, something larger. data is becoming the beating heart of the modern enterprise, the modern institution, digital transformation, you heard that term thrown around once too many times but that's really what this is. right, this is a massive transformation of how we operate. we no longer rely on anecdotal observation to determine, you know, which way is up. we use data, and certainly covid accelerated that because we were so upside down on so many things that data is the way that we are really partially and observing what is going on in our world. >> let's go over lithium motors,

second best performing stock in the fortune 500 in the last decade, and i see the lithias here, and i say to myself, lithia is in ashland, oregon, you're in boazman, montana how are these deals getting done >> through video conferencing. >> that's it you can explain your product over zoom? >> oh, yeah, all the time. we're not traveling. we haven't traveled for the last year, i mean, we did some, but our main mode is not in person it hasn't been in person, and not only have we gotten used to it customers have gotten used to it in many ways we like it, it's so much efficient than it used to be by the way, customers are more accessible because they know they only have to break out half an hour to talk to us, so there's a lot of up side to how things are being done these

days. >> is that one of the reasons your gross margins are growing, up 140 basis points, frank, that is huge. >> well, as we explained during our earnings call, there's a number of things that are driving it up. that compute as higher margin, we're driving people to the larger enterprises, using the higher value skus. >> i can spend a lot of time batting 1,000 when going down the data cloud path, people should go to the web site, fantastic analysis about health care situation, but frank, just give me perspective here, service now, unbelievable growth company you put on the same path, and you got to a point and said now it's time to hand it off. are you going to be here for the 10 bill? >> i get that question from time to time, and my answer is always i don't have an expiration date. >> at the same time, are you

sleeping in a cot again, are you doing that nonsense because this is a company that could grow for a very long time you're going to be on a cot in the office forever. >> you got to change your mo when you get up to it, right, it's all about building strong teams. if it was really all up to me, this thing would be held up by my own personal limitations. we don't want that, so we focus on talent. we focus on scalement w we focus on building the company ahead of the trajectory we're on i've gotten smarter over the years. >> i'm going to focus on telling people to buy the stock. frank is chairman and ceo of snowflakes slootman is doing it for you "mad money" is back after the break. the live better u program basically just provides the answer to the question: what if? with live better u, my 'what ifs' were erased.

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>> announcer: "the lightning round" is sponsored by td ameritrade it is time, it's time for the lightning round. and the lightning round is over. we're going to start with vincent in new jersey. >> jim, thanks so much for taking the call and thank you for the home gamers. first time, long time, and a member of the club >> we hit it out of the park, some say, i don't know, what's going on. >> applied materials, i'm confused by this stock. >> don't be confused it's buyable i have to tell you, i thought the quarter was excellent, and the people selling the stock did not know what they're doing. they're always welcome on the show adam in new jersey adam >> booyah, jim, and greetings from montclair, new jersey >> there you go, that's what i want to hear what's happening

>> all right i'm a long term investor, hesitant to invest in cryptocurrency, due to associated risks and volatility. do you think individual long-term investor should allocate some percentage of their investments to crypto, and number two, do you think investing in the stock coinbase is a good way to get that exposure and is a good time to invest >> i think coinbase is inexpensive, i don't care for management because i think they threw out a lot of stock when they started they should be buyers, not sellers. i think the listing went poorly. i think the company sa repository of the crypto i own ethereum directly, i think you should have up to 5% of your portfolio in crypto. i am a believer in crypto ken in illinois. ken. >> hi, jim, should i use the pull back in mtch to add to my position >> i don't think the quarter was

nearly as bad as the seller said and i think the company is worthwhile maybe what we have to do is revisit it, but i think everything we said about it, and we have liked it for some time i reiterate, i like it very much don't forget, i also like bumble, so perhaps i'm not jaundice enough about that group. michael in florida. >> jim, my stock is royalty pharma. >> what is that stock doing under 40, i was thinking about doing a segment on that stock because that is so cheap versus what i'm seeing in the actual field. they own a lot of stocks you should buy it. melanie in maine melanie. >> hey, jim, booyah to you. >> booyah. >> i'm hoping to ask you about my tech, they have incredible margins, consistent growth in all the top banks. i'm not sure why it's low volume and has little analyst. >> you're right, the volume is very low the fact that the company is doing incredibly well matters to

me i think it's a buy i don't understand why someone hasn't taken a run at that company. and that is the conclusion of the lightning round. >> announcer: "the lightning round" is sponsored by td ameritrade doma crow -- coming up, cramer measures the market in a changing world, next when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web. because platforms this innovative, aren't just made for traders - they're made by them. thinkorswim trading. from td ameritrade.

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let's figure this out. how is it possible that we're a year and a half into the pandemic yet we're still trying to forecast the future on the basis of the fed or the money splatter, savings rate of bond yields that stuff worked in january of 2020 before the world changed. you can extrapolate a decent six-month forecast that would help you figure out whether it was a good time to buy consumer package stocks like campbell's soup or industrial or how about a rail, right, that's all gone now. these days we have little visibility into the future, and that's not just because covid changed everything it's because the pandemic itself has been insanely unpredictable. we have had four distinct phases so far and hardly anyone can keep up with each new tie dal wave the first phase, the lock down, we were supposed to stay locked down through social distancing and contact tracing. it seems like a long time ago but we thought some states were doing a decent job, and some of

them jumped the gun, giving us a partial picture of what the economy would look like once we beat covid we avoided the office and moved to the suburbs or country, because if you can't go anywhere, you might as well have room, maybe a lawn progress coming up with treatments, though that took a while, and the federal checks helped the people be tied over, giving essential retailers a big boost as the smaller retailers got crushed because they were forced to close. second phase took us by surprise, the vaccine phase, thanks to new technology, we developed multiple vaccines within a matter of months, instead of four years. once we started getting vaccinated, the forecastest got the hang of the reopening trade, plenty of adjustments on the fly. calculated how much business would be done as we came back to the central office and traveling again. jobless benefits would run out, and people would turn to the work force, inflation would settle down. that was the spring reopening trade. everything was booming

as hl said, nobody went broke underestimating the intelligence of the american public we ended up getting a third wave na nobody i know was counting on after a few months when it looked like the vaccine rollout was going, it was inconceivable for those of us clamoring for the shots, including every ceo and policy makers, but tens of millions refused to get vaccinated use use useless, go back and see what people predicted stubborn governors would accept the risk of the virus, and others got vaccinated went back to work maskless and happy now we've got phase four maybe this should have been more predictable given the large numbers of unvaccinated, we're in the middle of a huge outbreak some people say it's peak, but give me a break, this is a combination of the ultra infectious delta variant and the fact that vaccines start losing their efficacy after six months, not eight months, now we have

breakthrough infections all over the place, where even the vaccinated get sick, though it's not causing many hospitalizations and deaths expect in places where people refuse to get their shots. the vaccines lose their efficacy, they prevent mild covid from becoming severe covid, and that's a positive we're trying to figure out what the latest outbreak means, but i think it could feel like phase one, home sales are here to stay offices are kind of put to the side, and well, there's tons of demand for testing, and in this environment, you have to fall back on individual stock picking, the infrastructure package, the previous stimulus can help you find ideas. what matters is you can't glean much from the data so many people do in our business. anyway, it's back ward looking, what's the problem here. here it is, we're in phase four. we have no idea what phase five will look like, and you're kidding yourself if you think you can come up with a meaningful forecast. that's why you need to find great companies with ceos who

can navigate through any of these phases they'll be the winners regardless of how all of this plays out. by all means stop listening to those who say it's all about the fed. if anything, it's all about the med. i woul i always say there's a bull market somewhere i promise to find it right here for you on "mad money. i'm jim cramer i will see you tomorrow. jim cr. see you tomorrow "the news" with shepard smith starts now dozens of american schoolchildren among the trapped in afghanistan i'm shepard smith. this is "the news" on cnbc >> we know that this is about real people. many scared, many desperate. >> reporter: trapped in afghanistan, americans waiting to get out what if they're still waiting after the military leaves? today an answer. the cost of treating covid victims. hospitals getting crushed. now a new plan to charge vaccine refusers more money for