tv Mad Money CNBC April 12, 2022 6:00pm-7:00pm EDT
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you know that julie bie l was a master class in small cap names i liked her clearwater call. >> thank you for watching "fast money" we'll see you back tomorrow at 5:00 for more fast don't go anywhere. "mad money" with jim cramer starts right now my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends, i'm just trying to help you make money my job isn't just to entertain but to educate and teach call me at 1-800-743-cnbc.
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hope is not a strategy hope can be pretty thin read of course, just because i say hope is not a strategy i'm not telling you to abandon all positivity including on a day like today when the averages started strong and then rolled over dow only dipping 83 points. i like to buy whenever i have some visibility in something good that might happen in the future but i don't want to full meant false positivity let's talk about what happened
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today. the most salient item, the consumer price index came in at 8.5% now that's the highest reading in more than 40 years and it's the worst number you could possibly have. i immediately tried to pick it apart. why? i was looking for any signs that it could be the last horrible number, that inflation might be peaking meaning these would be so much so the bad numbers that people have been waiting for, so we can start buying. the only thing i found was that used cars might be turning down. we know that because carmax is a perfectly good used car chain reported bad numbers this morning. when wall street expected they would be roughly flat. why? why would they be? well, the average used car rose 40% in price year over year or $8300. let's call tha how can something go ue buyer?
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the answer, it can't we call it in fancy economic classes demand destruction we are seeing demand destruction right now, right here in used cars now how can these price increases be so crazy? it's simple. because the automakers don't have enough semiconductors to whip up the production of new cars that's throwing off pricing for the entire industry. you have to ask what can bring that down? well, you need more micro chips. you look at many of the semiconductor stocks and they are not making the right kinds of chips the basic chips the automakers need aren't great enough for the really fabulous chip makers to pivot and make them aggressively very different kind of chip. now our country's making strides in building new factories. get help but it's years and years and years away before those foundries are ready. how did we end up with this chip
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shortage for years american companies have tried to have very little capital tied up in semiconductors or even any components we thought the real money was in designing chips, not manufacturing them we've been in this jam for two years. that means the used car prices will remain elevated there was nothing there. now it might be natural to think that something has to stop going higher in pricing but when i look at the two most visible things we purchase, food at the store and gas at the pump, nothing good happening food is wild one of the things you want going for you if you're in the business of buying food is a bread basket or to be more specific the bread basket of the world, ukraine thanks to the russian invasion something like 13% of all of the cat ris produced in the entire world could be in jeoparf the gd
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there will be no help from eastern europe to get food prices down. the war has had a similar impact on oil all sorts of countries are increasingly weary of buying their fossil fuels oil at $100, which is where it was today, has more to do with a lack of supply than demand of course, it goes beyond commodities. as gary friedman, straight shooting ceo of rh, restoration harbor pointed out, the psyche of the consumers has taken a huge hit from all of this turmoil. being hurt at the register is knock like the kind of humanitarian disaster the people of ukraine are suffering through and i don't mean to equate that. this is a stock market show and the market cares about damage to our economy. i'm not being heartless, i'm just trying to help you make some money i'm actually bullish on the american consumer overall like matt boss, the retail analyst or
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on any given day, you don't want to plunge in on a day when inflation is out of control. let's deal with the elephant in the room let's deal with one of the bigger elephants in the room china. you hear from our experts the chinese government is full of cheese you think the communist party can do no wrong, right they do a lot wrong in a moral sense. now the people's republic of china is going all in on a policy that's been repudiated by the rest of the world, a lockdown for covid ask from the looks of things now many of our manufacturers wished they had an abc or anyplace but china policy when it comes to manufacturing.
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it's not just the united states. china went with its own home grown vaccines that have much lower efficacy i'll use my benign terces to do manufacturing. they can no longer afford to be hostage to another country they're shut down because of national pride there are still tongues of good things that could happen the war could end, they could
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make the chips we need problem i have right now is the problem that grips the market that opens much higher on a not as hot feared cpi and yet then goes right back down because there are too many quandaries to call a top in the cpi you're leading the realm of hope and betting on reasonable possibilities. that's why we have so much cash for the charitable trust so we can pounce when we start seeing them for now, all we've got is hope and that's not enough of a game plan for this guy and it shouldn't be enough for you. a.j. in new york. >> caller: this is a.j. in new york
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do you believe it is still a strong stock to hold or should i -- >> i cannot believe that roku doesn't make money we don't recommend stocks on the show that have that kind of revenue growth and don't make money, that's just wrong let's if to don in georgia please don. >> caller: hey, jim. >> hey, don. >> caller: thanks for taking my call big advocate of ford my son owns the maverick. i want to ask you about the chip shortage and when we might start seeing another upward. >> your son and me, we are kindred. i have the maverick. i love it so much my wife took it because she thinks it's magic. they can't make enough they don't have enough chips they also have very high
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commodity costs. that said, i think after a couple of months i think they're finally getting their arms around this but it may not help this quarter still, the stock is so cheap we own it for the trust i can't -- you know, we sold some higher. i still like it though we have a reasonable sized position speaking of reasonable, i love betting on reasonable possibilities but for now all we've got is hope and hope is not enough to put money to work. on "mad money" tonight we're continuing our series of planning growth at a reasonable price and surveying financials to see if any of the key players are with i and could high peak energy be a high point tech stocks like twilio have fallen out of fashion. i'm seeing this cloud stock buck the trend with a whole new survey we're going to talk with the ceo so stay with cramer.
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we're always searching for new ways to play winning ideas for the last ten months we've done very well pushing the oil and gas producers, especially devon energy owned by the club, pioneer, diamondback energy. you could have thrown a dart and done pretty well the s&p oil and gas production, the xlp, it's up roughly 45% in
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2022 it's up 81% over the past 12 months lots of ways to win when the price of crude is spiking and tonight i've got another one for you. this one you're going to really love leastly we have learned from a highly trusted source about a new player in the exploration space called high peak energy. it's come out of nowhere after hearing that we started to open the book, check the files, do some homework and what we found is so very compelling that we have to recommend it to you even though the stock is already up 50% for the year, 5-0 what's so special about this sf one? high peak is run by jack hightower. he's created a tremendous amount of value
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he's created an oil producer with 63,000 acres in the midland basin which is one of the most oil rich regions in the personal permian basin. it's small but it's cost effective. it has the best operating margins which is pretty amazing. the break-even price is just $28 a barrel of oil equivalent and they're selling this crude at $100 that's the best margin in the entire industry. i say this came out of nowhere because high peak is the product of a spac merger one of the rare post spac stories that made you a lot of money if you participated in them most of them i would call them scams in the old days. it probably helps if the spac merger that created this was announced back in 2019
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that was before everybody went crazy with these a spac merged with high peak in august of 2020 although the company didn't raise a ton of money. the -- they raised only about $100 million since coming public high peak's been buying up oil properties left and right in total they've added 9500 net acres. that's just right for aggressive smaller operators. they used a period to snap it up at a good price. now they're on track to grow dramatically making high peak dramatic among exploration companies. most have been loathe to drill or expand. they're happy with the current status quo they don't want to overspend and plug the market. i don't blame them that would just push the price down when everybody else is being disciplined a company like high peak energy, guess what? they can get away with boosting their production
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they can't cause a crushing of the price of crude which means they'll make fortunes as they pump more and more oil i want a smart plan. now look, their acreage is tremendous high peak's production is 85% crude oil whereas other companies tend to average around 65 to 70% of oil natural gas is a component and that's worth much less they're efficient at finding new oil. again, the best in the industry. high peak is on track to see a huge surge couple of weeks ago water tower research released a note where the company could add roughly 100 wells to its proved reserves that's 3.4 to $3.8 billion worth of reserves. company's also got magnificent execution. they reported the latest results a month ago they easily beat
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wall street's estimates not that there are many they produced 14,881 equivalent per day. analysts were looking 14,360 as a result they came in much better perhaps most importantly, they're drilling really aggressively at the right time and that time is now with crude up $100 a barrel remember the stories you saw all day, $100 a barrel, $100 a barrel whoa is me revenge is high peak energy. high peak's got four rigs running. they drew 14 net horizontal wells. as long as oil prices stay elevated they're going to keep drilling aggressively. i spent months and pioneer sheffield. they're both so smart. they refuse to invest heavily in drilling most of the players will return it that spending discipline has created an extremely bullish
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environment for oil prices it allows a company like high peak to act as a free rider. as long as they can be disciplined, they can drill, drill, drill produce more oil reap the rewards that's why the numbers here are so incredible. as ceo jack hightower put it, and i quote, we recognize the massive under investment in energy over the past several years, and contrary to industry cynt imt, we forged ahead and positioned ourselves for responsible growth end quote. they might even celebrate if prices stay stronger at the end of the day, high peak energy is a growth company they're going to act like a growth company which means spending aggressively on production increases this is how every oil company in the world used to behave it was a bad attitude because it meant that we constantly got flooded with new supply. it's a great attitude for one small player to have when they
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decided to scale back their drilling if everybody in the industry acted like high peak, the cost of crude would collapse, i wouldn't spend 10 seconds on this one just the opposite. right now everybody's being responsible which means the on poor tunis particular guys at high peak can make out like a bear i'm looking at the enterprise multiples. the ebitda ratio this is a capital intensive industry the enterprise multiple takes the debt laidened balance sheets into account they have devon and pie owe near part of that is because high peak is a much smaller dividend. it yields 4.6. even when you look at something with a lower yield like occidental petroleum, this one is much cheaper. here's the bottom line about
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this great little find even though i'm obviously not early, has far more to go if you believe the price of oil can stay here possibly because the war in ukraine will turn into a stalemate, you get more out of high peak energy. this one's a lot more risky than devon, travel trust or pioneer which i wish the trust owned, we can't at all, but if you believe in oil here, this is the one for you. "mad money" is back after the break. >> announcer: coming up, cramer explains the world according to garth. don't get literary on us find out why this acronym deserves your attention next
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the market wants garp, growth at a reasonable price we're going sector by sector yesterday we had the garpiest restaurant stocks. people are desperate to leave the house. tonight though we're identifying growth at a reasonable price in another group that should thrive in this environment, the financials one of the few industries that benefits when the federal reserve raises interest rates. later this week earnings season officially kicks off we're going to hear from the six largest banks in america beginning with the largest jpmorgan tomorrow morning. if you're looking for growth at a reasonable price you should look elsewhere
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you might be better focusing on the more under the radar, under appreciated financials they've been fleeing them like rats from a sinking ship creating the opportunity you need to run towards them tonight i have four of them that passed the garp test so let's start with number one let's start with signature bank. this is a new york-based commercial bank. it has 36 private offices sprinkled across the new york metro area, california and north carolina the thing about signature, it's a business-oriented bank it's focused on the wealthy. mainly business owners and senior executives who do a lot of business and you can make a lot of money working with them this is not a stock we've covered too often. i mentioned it in january. it was the fifth best performance s&p 500. at the time i told you signature had too much just find me a bank stop that was cheaper on a book valuation. i was going to call the stock
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out at 17% but then we ran our growth at a reasonable price screen and when you look at signature on an earnings basis, the valuation makes a lot more sense. especially after the stocks recently declined. right now it sells for just 13 times earnings which i think is a very enticing given its tremendous consistent growth rate remember, many of the biggest banks will see earnings decline with capital markets activity down dramatically. underwriting, corporate deals, m&a, that kind of thing. plus, the situation has changed. signature has a ton of interest rate sensitivity which makes it a lot more attractive now that the federal reserve does a lot it will take your deposits, pay you next to nothing and invest that risk free in higher yielding short term investments. if the stock's still down substantially i think it's crazy. signature dipped its toes into the crypto space so maybe that's been earning it. i don't know
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people like crypto we keep hearing great things about the company. just yesterday analysts at jeff ris said signature had one of the finest setups among the midcap banks as we head into earnings season. last thursday morgan stanley made a similar argument. my view, signature bank gives you growth at a reasonable price and i like stock going into earnings next tuesday. next up, oh, we've got two under appreciated financials that are actually kind of boring. state street and bank of new york melon those are the two largest custodial banks. custodial bank, they keep your money. they do everything behind the scenes for institutional investors. the company has a mind numbing -- the state street, which is our major focus but we also have another one, state street has a mind numbing amount of assets. when i tell you the number, you're not going to believe it it's 43.7 t$43.7 trillion last r
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at the same time state street has a smaller investment management firm. it has 4.1 millio$4.1 million an management last year they announced acquisition of harriman. state street launched a digital finance with the goal of being custodian of cryptocurrencies the same way they're a custodian for others they charge a teeny tiny percent of assets under custody as part of those fees. it's no surprise the stocks pulled back 22% from the highs in january that move seems extreme to me. state street is on track to charge the growth. the fact that you can get this
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under ten times earnings i find to be absurd i'd call it growth at a reasonable price but i think state street is unreasonably cheap and i'd like the stock ahead of the earnings report on thursday morning custodial bank, not a lot of risk when you're custodial bank. how about another one people don't like bank of new york melon these guys have very similar business to state street similar growth rate. same dividend rate bank of new york melon has pulled back more aggressively. just like state street, i think that's a terrible reaction i have a tough time choosing between these two at the moment. in the end, they're in a race to see who comes up with the first custodial platform for cryptocurrency remember, these have been thrown away by managers who want to own banks that have the lucrative deposit bases but i think they've been aggressively punished finally, there's one that i
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think you'll all identify with it's charles schwab. the discount brokerage firm no one is paying attention to we're all focusing on the dramatic rise and fall of robinhood markets. made a huge commotion but it's schwab that has been quietly been going about its business. could have been $26 billion acquisition that closed a year ago. right now schwab is far and away the largest retailer in the brokerage space with more than $8 trillion of total clint assets principals more important, if you think the fed will raise rates, schwab is a huge winner 60% of the revenue comes from interest rate sensitive business nobody else in the industry comes close. let me put it this way for you schwab's earnings are expected to increase 26% compound annual growth rate over the next two years yet its stock sells for less than 20 times earnings. the price earnings multiple is
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lower than the growth rate which is exactly what you mean when i talk about growth at a reasonable price doesn't hurt, by the way, the schwab stock has come down 17% from the highs let me give you the bottom line on these while everyone ibanks, i think d financials with garp appeal. you want growth at a reasonable price, watch out for signature bank, state street, bank of new york melon and schwab as they report over the next week. we don't invest in hope, we invest in possibilities and the odds of winning with growth at a rienl price have rarely looked this good. let's go to larry in illinois. larry. kv >> caller: juim, thank you. first, my heart goes out to all of you i'm so sorry. >> i live in brooklyn. i was talking to my wife it's just terrible and i thank
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you for that that is a really nice consideration. >> caller: all of your people, your staff, what goes through everyone's mind, the multiplication, this thing is crazy. i don't want to take too much of your time. i want to thank you on financial literacy month for educating all of these years if you could just be multiplied, i don't know it would be great. now my question is about blackstone you look at the chart on blackstone it's gone through the roof over the years and recently it's come down from one fifty to one fourteen earnings come out on the 21st. what's your take on it >> i like it very much they have been doing a lot in the capital markets. instead of taking business from what banks used to do. it is run by steven schwartz who i happened to see last weekend who is so darn smart and jonathan gray who i've known for, i don't know, 30 years. you've got fabulous people at the top of this and you have a good yield and great assets. i say blackstone is terrific
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guys, i think it's a good time to pay some attention to the under appreciated financials with garp appeal these are never, ever talked about. i like to make money boring is good signature bank is my fav state street, bank of new york mellon and schwab. much more "mad money" including my conversation with twilio. tech's next battleground customer engagement. i'm learning how the cloud company is bringing the -- bridging the divide with the ceo and believe me, that is not an easy bridge. is it a possibility too much apple? i'm going to tell you what to do with the stock and all your calls, rapid fire in tonight's edition of the lightning round so stay with cramer.
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last week we got a big study from twilio. that's the cloud-based company that helps customers connect with their customers digitization can help your company. it can generate a 70% revenue boost. this has become essential for corporate survival with that in mind, let's check in with jeff lawson, the co-founder, chairman and ceo o , jim. >> jeff, i've read this report five times five times since i got it. why? because i cannotelieve that the corporations and their customers are so at od
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how is that possible >> you know, we've done thisa b throughout different industries, different continent, and we survey consumers and we see how the needs of consumers are met by companies we find these interesting gaps i thought it was example in our survey 75% of companies said they did a great job of personalizing their services for their customers yet 50% of consumers said companies did at best an average job, most of them poor or even bad. so there's this gap. i think it's because companies think they're personalizing something when they put our first name in the email. hey, jim, it's personal lieszed. then they blast you the same content whereas what consumers really want is for companies to listen to them, pay attention to them and to tailor how they engage with them in their interests, the things they bought in the past that's considered to be friendly, helpful, you're paying
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attention as a company when they do that. most companies just aren't yet doing a great job of it. those that are are really reaping the rewards. those companies in our survey that said they were investing in this digital engagement based on average, an average of 70% revenue growth in the past year. that is just amazing when you think about the breadth of companies that are in there. >> i do want to put in a plug for twilio in the sense you have a platform people who use it will be able to close that gap. they will know you gave a talk recently to morgan stanley you always like to buy one kind of outfit and they keep pushing things you don't want. i think that your platform would make that seem ridiculous. it would never happen. >> exactly right. think about things you've bought from companies i buy a lot of black wool t-shirts that's what i've been wearing a lot of the company keeps sending me emails daily advertising things like women's hats. are you paying any attention at
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all to who i am and eventually what do you do click on unsubscribe this is noise in my life you click unsubscribe. there is a great amount of frustration with all of this noise. consumers are unsubscribing when they do that to your brand, what do you do? you've lost that voice with that customer and essentially what you need to do is go re-acquire that customer. you go by ads. what it is is it ends up being a world you buy ads. yocompanies are saying, no, i can't keep re-acquiring my customers. i need relationships. >> right right. now one of the things that people also want as tim cook said, know want relationships but they want privacy. now that would seem in some ways to be at odds. how do they get privacy and also build a relationship that's another solution that you're coming up with. >> it's actually fairly intuitive, right
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when a company goes out and buys a bunch of data about you. you know, acquired via data brokers, people buying and selling personal data about you. that's creepy. stop doing that. and if people knew half the stuff that was going on they would be horrified, and so that's the category of things like -- that's not a relationship that's you buying creepy data about me and we need to stop that the law and the changes to the platform like apple, even google and facebook are having to go through are helping us create a more private world but on the flip side, when you think about amazon, google, right? they use the data that we give them with our browsing habits. what did you click on? what did we buy? what did we return that's why your amazon home page and mine are different your google search results for the same thing and mine are different. they're personalizing that what do we say we say thank you we give them more business now every company is having to go through and get as good as
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amazon and google at understanding us and then personalizing every one of those engagements with us to make it a better product experience. that's exactly what twilio's product does you have the segment which helps you understand your customer from all of that data and then all of twilio's communications apis which actually help you create engagement. >> are the companies that are still using cookies clueless about what's going to happen and really fall behind if they don't make changes now >> it's just super hard, right in our sr. vai half of companies say they are still unprepared for the cookieless world think of the refrigeration industry used free on. they had to wean themselves off of it. refrigeration is a small number of refrigeration companies these cookies, how companies are using this data online is -- this is every company that does
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business online. so it's just a big change yet so many companies are still unprepared despite the fact this change is going to be done this year the last of the major browsers, you have safari, firefox that have already done this and chrome is next when that happens, companies will be unprepared. >> i have to ask one more question i know i'm getting waived off. i checked with some younger people today you mentioned digital fatigue. like what's digital fatigue? everybody i mentioned to said, jim, of course, it's killing me. digital fatigue. you've introduced this to everybody. >> what it means to me and our customers, we'll talk to them or in this survey, companies do a great job just cramming more messages down these digital pipes is not the answer. it's krafting better messages that are relevant and that's how you stay top of mind for customers today. otherwise, they should just close the lid and walk outside
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that's what customers are doing. >> i don't own any small businesses right now, but it doesn't matter whether you're large or small, the lessons here are incredible in this data customer engagement report of 2022 if they're in business, any business, read this. you will not believe how many mistakes you are making and you don't think you are making any jeff lawson, ceo of twilio >> thanks for having me, jim. >> "mad money" will be back after the break. >> announcer: whatever question you have -- >> caller: should i buy, sell or hold >> announcer: cramer's got the answer. >> your business is on fire and i think you have to hold it. >> announcer: the lightning round is coming up next.
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it is time it's time for the lightning round. and then the lightning round is over are you ready, skee-daddy. time for the lightning round start with karen in virginia karen. >> caller: hi, jim happy tuesday. >> same. >> caller: i'm actually calling about monday, mndy >> oh, you know collaborative software was such a hot business but i've got to tell you, karen, they're losing too much money. so i've got to say no to monday. ken in illinois. ken. >> caller: hi, jim. >> hi, ken >> caller: my company does energy play and is a
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construction play in the name of sunrun what do you think? >> i would rather own tesla which has somewhat having to do with the same thing, okay, in solar than own sunrun which is losing a lot of money so it's not my cup of tea which this is my cup of tea. can i have brad please >> caller: boo-yah, mr. cramer >> boo-yah. >> caller: happy to be on your show shout out to a great mentor of mine, mr. kbgreely i know four-letter words are not allowed on, i'm calling about a spac ggpi >> yeah, you know, there was a time, a time where i would have said this one could be good, especially because of the deal with hirsch. i can't do that because even though they've got that deal they're going to lose money for a long time and we don't stand for that anymore on "mad money."
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how about glen in texas please glen >> caller: hi, jim this is glen i bought tilray at 5 and i'm considering buying hecto. >> i think that tilray is actually a company that's going to make a lot of money as we go national with cannabis and that's irrwin simon. he's going to run it like a business and not like a pot company. michael in florida michael. >> caller: hey, jim. big boca raton boo-yah for you >> thank you. >> caller: i want to get your thoughts on endlock. >> we sold our whole position at a very big profit for the travel trust. why did we do that because they promised several times to close a teal and they didn't close a deal so we closed the deal with them and got rid of it. let's go to mike in new jersey
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mike, mike, mike >> caller: hey there, mr. cramer. >> hi, mike. >> caller: hi. watch your show all the time. >> thank you >> caller: love it thank you very much for taking my phone call. >> sure. >> caller: well, i'm approaching retirement and i've owned this st stock, epd, i've had it for over 20 years it's always paid an excellent dividend. >> i think you should hold on to that and if it drops, buy more it's only been one of those other than one oake you can buy. i'm broadening the list because it's such a good business, kmi and i can't believe i'm saying this, e.t., which i usually say don't call home but that is -- wow, that's a great business and that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightning
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this morning tim cook, the ceo of apple, gave an impassioned speech advocating for your right to privacy. he wants you to be protected from the data industrial complex. he doesn't want corporations mining details about your life in order to give you a more targeted advertising experience. cook says these companies don't want you to have a choice. no one can stand for that in the real world, why would we stand for that in the digital world. that's one more reason why apple is such a beloved company. why the heck did we sell apple stock in the charitable trust? what was the point with so much good news ahead? were we worried about numbers cuts because the prc is going into lockdown to tell you the truth, it was none of that at all. we've been unwavering in our
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support and commitment of apple. for years i've told you to own it, don't trade it others have endlessly flitted in and out of the stock but because we kept holding apple for the travel trust, we have one of the highest quality problems when you are managing a risk portfolio. very simply, it got so darn big it accounted for 6.7% of the travel trust assets. i'm trying to get them to manage it and as i see it and have always felt since we started this experiment we never want single stock to get bigger than 5% we regard that as too concentrated as i was telling a subscriber, we felt we were becoming the apple fund we were swinging every which way whenever they talked about too much inventory in the channel, sluggish channels. when you have a big winner, you need to start taking profits even if you love the underlying company. otherwise it gets too big. i know there are some hedge fund gunners out there who totally
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disagree you could argue your whole fund should be in apple but there comes a point where prudence has to play a role and prudence dictates what we call right sizing the position. for a travel trust that means cutting it back to 5%. that means apple can help you and you won't be a hostage to a single stock i don't want to worry i have too much apple every time i see pictures of a lockdown in shanghai the trust will be down because of capricious reports apple suppliers will be cut back when you own too much of something you can't capriciously buy more of it so i apologize to anyone who thinks i violated my own commandment that you need to own apple, not trade it. right sizing a position that's up huge isn't trading it, it's simply a basic part of responsible investing. if you're doing a decent job of
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picking stocks, sooner or later you're going to have to make a similar call it's better to trimp your winning positions and let them grow so large that they imbalance your entire portfolio. i always like to say i am here on mad money the"the news with shepard smith starts now waiting right now for a news conference and breaking news on a morning rush hour mass shooting i'm shepard smith. this is the news on cnbc attack on the new york city subway at least ten people shot after a gunman set off smoke in the train and started firing. >> this individual is still on the loose. this person is dangerous. >> new info on the weapon and what the shooter left behind. the war in ukraine shifts to the east has putin used chemical weapons? he says russia's goals
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