>> were is this? >> right now in this market it's really hard to recommend anything and that's why i was like happy to talk about the govt which i sympathy a safety trade here so that's what i'm going with right now. >> all right >> well, thank y a f youllorou watching "fast money." see yo 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 save you some money my job is not just to entertain but educate and teach you so-call me 1-800-743-cnbc or tweet me @jimcramer. time to accept we have a

gigantic roll back going on. we're seeing assault on every economic front and the market is fiercely trying to build in negatives including today where the dow lost 94 points and s&p shed 7.5% and nasdaq tumbled 1.40% but at one point down more than that. it hard going because bear markets, bear markets always try to temp you to buy like this one did all day. it made sense there is nothing good happening for indigenous. bonds are central. when that store is closed, it's good news for the market it works higher starting about 5:15 a.m mind you, there is overseas noise about british. there is nothing to just fie that kind of inflection. big research, think pieces that come out over the weekend, again, nothing positive. we can't find anything worth

hanging our hats on. individual research on individual companies and buy jp morgan stock at the end of the week is interesting. upgrades of kraft, heinz and merck. it's all bad really bad nothing to buy hammering of china, much, much more broad than expected as i had to tell members of the travel trust and investing club and russia ups the ante by firing missiles to ukraine hitt into this session full steam ahead. why not? we're technically over sold and fell on friday no bonds to get in the way looking so tempting. fortunately, i'm experienced enough not to take the bait. this morning i told my "squawk on the street" colleague david favor is there in reason to have a rally, the rally isn't real.

i reiterate at 10:20 morning meeting talk with jeff marks, the cnbc investing club because openings cannot be chased, people sadly a lot of people haven't gotten that memo and get hurt on day's like today they buy up because it feels good uh-uh, it will feel bad. you know why there is wide spread desire to take advantage of the negativity by doing buying. with everyone so negative, a lot of people figure there has to be an opportunity here. it's sentiment driven taking the other side because you want to see the glass half full even if it is not empty. but actually, taking what is out. that's what is happening now the water is coming out. sometimes that's the right move. you know, periodically you get a situation everyone is so negative, it works it's reasonable. we saw the other side of the trade in 2000 after the .com boom a collapse to internet stocks is logical certainly right before

the great recession told you to take your money out of the market if you need it in the next five years. there are times it's worth it to be negative. i don't think this moment is now. it's 2000, 2008 a lot of companies with no sales in the .com era they deserve to be slaughtered they got what they should have i've had a huge number of garbage spacs on low quality ipos for the most part better than the year 2000 predecessors. more than 300 stocks with this earlier advantage if you keep track that's 90% of the crop we're seeing new declines but mercifully, they're not going out of business. for the great recession, just forget it. it's not that. so many large institutions went under and respectable commentators were calling for the banking system if noble prize winning fed

chairman ben bhadn't drawn a lin in the sand, i don't think the system would collapse. there is nothing like that now like my ma always said, comparisons are odious what does it matter if we had a great recession? we have a different narrative but same result. we have a lot of inflation that has to be wiped out. unfor unfortunately, the fed has one tool that's raising interest rates. it doesn't immediately help, either, though, which is the problem problem here right now we've seen a dramatic decline in the savings rate down substantially from the pandemic highs but that's yet to impact consumer spending. we have 7% mortgage rates but people are still buying houses and companies that have stopped hiring in tech yet we don't have huge layoffs people can still job hop and collect higher salaries with ease supply chains are growning under

the weight of excess demand. reasonable when you consider the buy outs so many companies offer during the worst days of the pandemic we don't know when the fed will be done raising rates but as of last friday's red hot employment report, it won't be any time soon we have a producer price index on wednesday and many will be down will it make a difference? i don't think it's enough to trump the employment number. i studied the staying power of government static ti-- statisti, nothing. many managers are worried more aggressive hikes could cause real financial blowups, the fed has no choice. right now at this very moment, they think they're losing the war against inflation. we'll look back two or three years and say wow, it put us in such a nasty recession why didn't they wait and slow the rate hikes and see what happens? why didn't they realize the big

decline in business would occur? you can do that. their efforts have an abject failure because they haven't stemmed the run away cost of wfh, no not work from home wages, food and housing. the fed can't directly cause any of those to go down but can make it harder to borrow money indirectly throwing a lot of people out of work that pushes wages down and food is up because 30 to 40% of the fertilizer comes from russia, belarus and ukraine. plus, droughts are everywhere but when the economy is bad enough, people do buy cheaper food and cut back. for housing, we're probably at the cusp of when home sellers break price and start hitting bids off potential home buyers can't get or afford a mortgage still, they haven't done so yet. they haven't once the data shows that wages, food and homes are going down in price, the data dependent fed will stop raising rates, something vice chair said today. there is no such data. what am i supposed to do hope they will be right?

guess they will be right that's not worth taking the risk so until the market is viciously over sold and softer data for waste, food and housing, you have to treat them as head fakes. i take the fed at the word, it will change if the facts change. sadly, the facts haven't changed so let's stop pretending fed chief powell announced we're on the cusp of a decline in the price of wages, food or homes or maybe just even one of them then we can get and anticipate more bullish. we can even if we miss the first day of the run but we're not there yet so stay the course, keep some cash for better times. bottom line, right now, you can get a bounce without some more data that shows the fed is actually winning the war against inflation, rates will keep going relentlessly higher and rein rally will occur but no doubt have a very short shelf life let's go to brian in north carolina, brian? >> caller: yes, i'm here. >> hey, brian, it's jim, what's

up >> caller: hey, how are you doing? >> hey, you know, hanging in >> caller: yeah, so my question for you is about neighbors acre session of posh mark i unfortunately listened to a guy i know that works up in new york for morgan stanley and he told me last august, august 21 to buy posh at $25 a share and i unfortunately listened to him and i don't know if you know but the stock has done nothing but plunge since then -- >> no, that's true and then we got the bid. here is the way i feel about this, brian. it's important i thought that was a watershed first time during this horrible period we got a company brought public in the last couple years that actually got you out but it didn't get you out whole just like it didn't to you. i think it's good that posh mark got a bid but bad that it was so low. and you obviously, concur. how about caroline >> caller: boo-yah jim and thank

you for taking my question today. >> so glad you called. what's going on? >> caller: well, i'm a long-time investor in 3 m and appreciate stability and strong dividends in place for 64 years, right given its recent significant share price stuff, due to market forces sure but really made worse by mounting litigation, i have two related questions first, do you think they can continue paying the dividend like they've been and second of all, would you call this stock a buy, a sell or a hold? >> okay. caroline, you ask great questions and thank you for the kind words about the show. my father repped for three -- scotch tape for 3 m. really respected the company they have ground water litigation and combat arms litigation and problems with hearing for people who served. those are monumental so no, i can't get in front of that one

because i think that the litigation stories, both of them have one of them maybe, two, can't do it. i wish they would come on and explain how to get out of the jam if we do own 3 m without data that shows the fed is winning the war against inflation, any rally will be short lived. it can rally it can over sell rally you heard what i said. "mad money" tonight with the third quarter in theerer erearvw mirror, uber and lyft have been in fierce competition since the inception but which stock could pull ahead on wall street? i'll give you may take and leading the third annual black entrepreneur's day give back, give back, give back and finding out how the pandemic impacted black owned businesses and what the path to recovery looks like and how you can help. stay with cramer

>> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer #madtweets. send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com.

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phew, now that we turned the page on a truly awful third quarter, this week i want to catch you up on where we are by doing a deep dive in the best and worst performers of each major index. we'll start with the dow jones industrial average, this group of 30 large companies that make up the backbone of our economy the dow finished the quarter

down an ominous 6.66%, worse than the s&p 500 or the nasdaq that reflects the new face of the market this year we saw a massive selloff in stocks that get hit the hardest by inflation by lately, wall street is bracing for a fed mandated recession and dumping anything that gets hurt, especially hard in the slowdown hence the weakness in the dow. so let's talk a winner and loser. only three dow components were actually up for the quarter but i think it wort looking at the five best performers learn, learn, learn. walmart was up and preannounce in late july cutting the full year earnings forecast for the second time in a row maybe that's a charm however, it turns out they were lower kexpectations to the poin they could be beaten and that happened mid august. at the same time, this is a slowdown stock people love to buy it as a tradeout play. low prices every day

i recommend walmart given management's repeated missteps number two is apple up 1.1%. i've been telling you to own apple, not trade it for years. what more can i say? wall street loves to turnout non-sense negativity on the largest company in the world but apple manages to find critics. could it miss the quarter? any company could. third, it's the death spot home depot up 6.6%. the death spot is an inigma. they reported truly resilient numbers. it's even more confusing when you remember home depot is supposed to be tied to the housing market which investors are doing like the plague. so how is the stock holding up this well? i think it's because home depot is leaving to professional contractors than regular consumers that insulates a lot of the weakness as pros do a lot of renovation. which is in keeping with the slowdown where people can't

easily sell their homes so they fix them up but it's tough to recommend the stock even though we visited them and loved it because we know there is less contraptstruction activities fourth, cramer fav walt disney down it was most recently slammed for anything connected to streaming. disney isn't just disney plus police they have a fabulous theme park business doing great right now a big film business and they own espn, which could be moving aggressively into the main growth area of sports gambling, perhaps being with a partnership of one of the major -- what do you call it? like gambling houses don't want to be too specific. i like the one -- this one so much that we have a big one for the travel trust i think we'll look back at marvel it fell so far, however, we're down a position and you know i like to play with an open hand for the investing club.

fifth best performer chevron down 8.4%. it's been a roller coaster as the price of oil goes up and down and up and down we sold this for the travel trust but huge profit. that was simply discipline you remember you never want to give back a big profit now, i am a giant believer in chevron and i think the ceo is doing a terrific job they're printing money back in the '90s and gets precarious we have less use for oil the first thing you noticed about the losers in the dow is in a fed mandated bear market like this one, they are mandated because they want your buying power lower. the earnings are few no protection whatsoever. higher yielding stocks are more dangerous because they're a sign a yield may be, i don't know, than a cut in the payout is coming let's pull them apart individually because i don't want to just paint them with a broad brush. some of these have money the fifth worst performer ibm

down nearly 16%. 5.6% yield not long ago ibm spun off the slow growing services and doubled down on a hybrid cloud analytics platform smart. unfortunately the stocks you no longer love, more like hated if wall street assumed gloogle cloud and amazon is slowing, it doesn't matter how good the strategy might be. nobody cares in this market. i think that's too negative. i think it's a great business to be in the cloud but i'm just one guy. is it so dire that we have to worry about ibm's dividend the company has a ton of cash flow and the ceo swears by it but there are safer ways for a 5% return. pretty soon you can get it from the two-year treasury. walgreens down 17% 6% yield i have to admit i expected better of the company given the covid booster shot business but see walgreens gaining very

little market share during the pandemic unlike cvs. i think they lack strategy for the biggest threats. amazon, there is nothing special about this chain except there are a lot of stores and amazon is better and it's never a trust. when i was in san francisco recently, i asked cashiers if they mind that i pay because nobody else seems to most of the stuff is under lock and key but they don't have enough staff to open the darn locks so it takes forever to buy anything descent i gave up buying hair care products and i don't need that but at a nearby walgreens after waiting five minutes with nobody bothering to answer the buzzer to get someone to open the lock, i have a great pharmacy at my usual walgreens but feel in the minority as people seem to prefer cvs nike down 19%. nike is exposed as a china play

falling double dug igits, i rest the elusive management a slowdown in europe, decline, supply issues, they will be resolved my view when the war in ukraine ends and china bans the covid policy, nike will come back roaring back i think it's worth the wait, actually but you got to be patient. dow second worst performer is verizon down 25% a bomb of who knows what the credit rating wills say if cash flow doesn't pick up. i don't want a 7% yield from the company getting handed by t-mobile i could name 400 other stocks in the s&p made for better plays of the same thing business is on a slow, steady endless decline. no end in sight, pass. finally, intel down 31% even though it has a 5.8% yield who cares about the dividend when they have a not so great quarter. i know intel is a no worry stance, something i'm aware of

because i'm the only person questioning it in the media. i don't know or see how intel has the cash flow it needs to pay the dividend and do the enormous manufacturing buildout. i think something has to give considering the p.c. slowdown. the worst industry in the world right now for my travel trust and that is honestly putting it lightly. bottom line, any economic licensetive one is crushed and high dividend yields are no protection when the fed is on the war math "mad money" is back after the break. >> announcer: coming up, come on and take a free ride cramer has a ride share review you won't want to miss next

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. even in a dismal market investors are fleeing stocks, it's tough to identify winners

i'm still a believer in stock picking. some days are harder than others but at the end, you can do better by having a bedrock and having high quality companies with good management out executing their competitors. you can do both. i want to help you with the ladder but only after you have a good index fund position diversification can be a lifesaver. i know this is a market that paints with an incredibly broad brush. entire sectors tend to trade together, which can make stock picking seem like a fool's earn. let me give you a counter example to show why i like what i do for years, uber and lyft traded in lock step because they're more or less in the same business why should one ride sharing company trade different than another? they should be the same, right it's actually not a rhetorical question because over the last few months, uber stock has pulled away from lyft in a major way, yet, after bottoming in late june, uber stock rebounded

from the lows. meanwhile, the stock of lyft is bouncing along the bottom. the whole time currently up less than a dollars from the all-time low. uber by comparison is nowhere near the all-time low set in 2020 during the initial covid crash. and this has been going on all year both stocks have been hideous performers in '22. they're exactly the kind of growth stock that wall street decespises because zero patience for every growth stock since the fed declared war on inflation. lyft is down 77% and uber down 34%. that's a huge performance in borderline why? because over and over we've been getting the same message uber is winning across a host of different businesses, not just ride shares but also, food delivery and its truck brokerage operation while lyft is lagging behind

how did uber distinguish itself from lyft? both stocks were pretty much joined at the hip at the beginning of the year. they started to separate in early may in which both companies reported solid results that never left stocks lower but while lyft lost 30% of the value in a single session, uber only took a 4.7% from the willyft pin action it's not good but much, much better than the devastation lyft even though both ride sharing companies had better than expected results, the guidance was down right putrid. why was lyft so much worse it comes down to execution when the conference call lyft said they had trouble, still having trouble finding drivers to meet off the charts level demand they basically have to pay people more to attract drivers but uber, strangely told a very different story. they were having no trouble finding drivers. by the way, while i don't encourage hedge fund like

trading, if you notice this disparity in may and trade off by going long uber you would have made a bundle a few days after the results came out, d deidra got her hand on a letter it was made crystal clear he's different. he perfectly understands the market listen to this it's amazing channelling jerry mcgwire showed them the money we made a ton of progress with profitability but the goal posts have changed let me repeat. the goalposts have changed now it's about free cash flow. we should and can get there fast companies will put heads in the sand and slow to pivot, think about that the tough truth is that many of them will not survive. may 8th, 2022 one of my personal heroes couldn't have said it better myself. at the same time, he quickly realized uber needed to spend a

lot less aggressively, which was very encouraging wall street is not rewarding popular revenue growth uber's pivot to become a cash machine was very well received and very smart move. of course, lyft got to have similar plays when they reported in august, the management made the same comments about the need to cut cost and pursue profitability but they got there in may with a huge head start. speaking of august, uber reported an excellent set of numbers. they gave you a robust top and bottom line with much better than expected free cash flow and the bookings guidance was disappointing, nobody cared because the earnings for interest, tax, depreciation and ebita was what everyone was looking for. as for lyft, it turned into a solid set of numbers better than feared and had a surprised profit but the free cash flow, remember what it was said in the m memo, their free cash flow was

negative and the guidance from the last quarter was mixed in the end, lyft stock jumped 60% the day uber reported and another 60% days later because management finally seemed to realize we're in a brave new world where investors want profitability and not growth and price. that still exists. since august, uber stock is once again separated itself from lyft uber jumped more from the mid 20s to high 20s climbing to 33 and change by mid august since then the market has got ugly but with the carnage the stock is 27 and change it hasn't totally erased gains from the quarters, lyft is a different and sadder story the stock surged from 13 to 20 it's back down to 12 and change today like the quarter never happened why has uber held up better in the teeth of this selloff? because they're finally getting credit for the superior execution not to mention superior attitude and state of mind not unlike legend steven

seagal and hard to kill. a little over a month ago bank of america initiated coverage of lyft with an under performed rating with the crux uber is a better bet with more scale in ride share and have an easier time hitting the earnings. couple weeks ago the evidence lab which i love published a survey in ride sharing delivery app drivers found drivers consistently prefer uber, even the ones that use lyft don't use it as the main driving app uber is seeing benefits to combine ride sharing with food delivery via uber eats a lot of drivers using both platforms. based on the data 65% of uber drivers use uber as the go-to platform only 13% of lyft drivers use lyft as the platform no wonder uber is having an easier time finding people they downgraded lyft and pointed out uber has a big structure l advantage. here is the bottom line, if you

want to take a risk owning a ride sharing stock, stick with uber, the best of the breed whether try to bottom fish which hasn't yet figured out the way out of a jam that uber is beating and you are always of course invited to be on the show you are, i reiterate a hero of mine let go to hassan. >> caller: hope you're having a great day. rivian has been in the news and news of a recall broke out at this point, are they a buy, sell or hold >> i defer to phil lebeau who is absolutely the best reporter when it comes to autos and airlines he said it wasn't that meaningful of a problem, a recall fastener and therefore, the stock being down 8%, 7% today is an over reaction. i think you're okay. again, this is a concept stock and i don't like concept stocks but it's a darn good concept let's go to tyler in california,

tyler? >> big boo-yah, jim. >> thank you, tyler, what is going on >> caller: alrel right. i've been -- a particular stock i like, i am wondering if this has been possibly the bottom since its earnings in 2020 it did really bad and since then horrible i want to know if this is a bottom on this stock or if this is the end because of a -- the pandemic and stuff ccl, carnival corporation. >> all right this is a great question i'll use it for a little instruction, tyler, if you don't mind i never liked to reach and find a stock that's not best of read. when i do, norwegian is more expensive but i have much better feel after speaking to frank del rio, the ceo it's a precarious spot and norwegian isn't. if you like carnival, you should

love norwegian. much more "mad money" and my exclusive with one of my absolute favorite guests head of the third black entrepreneurs day. i'm learning about the mission and equatable and fair economy then esg investing is top of mind for u.s. republicans. how could this government action impact the future of green investing? i'll give you my take and of course, all your calls rapid fire in tonight's edition of the lightning round so stay with cramer ♪♪ age before beauty? why not both? visibly diminish wrinkled skin in just two days. new crepe corrector lotion only from gold bond. champion your skin.

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i'm lucky to have a show sometimes i have a great that

makes me feel great. we're happy to have the pandemic behind us. it hilt t some communities hard than others. black businesses went down twice the number of white owned businesses according to the washington pos thinking are getting better. we have a long way to go if we're ever going to have an equatable business environment, which you know this show stands for and that's why we have to speak with damon, the founder and ceo of fubu but long-time supporter of the show with you probably recognize as one of the original sharks from "shark tank" on thursday the 27th, write this down, he's hosting the third black entrepreneur's day hosted by chase for business at the apalo theater and we want to hear about it welcome back to "mad money." >> so excited to be here thank you. >> i love this. >> i finally have some style. >> amazing. >> all right let talk -- first i had you on

when this started -- >> yes. >> it's been such a success. talk about how you've been able to help individuals, businesses and at the same time have a sponsorship list that's best in show. >> absolutely during the pandemic, we watched -- i was watching people burning business instauead of building it i reached out to many people including you, way tonight talk about this, corp rorationcorpore shopify and celebrities. we broadcast for the first time from my basement and this is the third year we gave away a quarter million for the third year and we'll probably pass $750,000 of grants to people, black businesses to keep them up and have the naacp we're not taking businesses and we're back for the third year in the -- at the apollo theater live where i'm paying it forward. i couldn't afford to go into the apollo and i'm booking it out

and hopefully, somebody will be bigger and better. >> people have to know by reading -- >> absolutely. >> to be like you. now, you have got some amazing speakers one of my absolute favorites is the low lowes ceo marvin. >> he's amazing. i worked with him ever since my clothes were in jp cpenney and he's doing so many great things. i think you just said tit, business is after this whole thing is happening, they've been pulling back because they have to look at their numbers and sometimes they don't look at the people behind that and in our community, the african americans feel we're always the last hire and the first fire and a lot of people have cut their dedication towards the space that they had two years ago but all of my people stood by and actually doubled down and i think that's important bec because chase, shopify, marvin, t-mobile and pepsi and nike have

doubled down. >> it's worth it to double give given amazing success stories you had. we looked at a fantastic site, the cupcake collection in nashville and the harlem chocolate factory. >> we kept the doors open because they needed a couple thousand dollars and they're up and flourishing and investing and hiring people that need the jobs. >> i was glad to see jp morgan in my hometown of philadelphia opening branchs where they should i have have -- is it weird to say the bank has heart >> they're deploying $10 billion -- $30 billion over the next ten years and they have been men and women of their word and i've been working with them so many times from the chase side, from the chase for business side and jp morgan wells side to show people that even we're talking black entra paur -- entrepreneur what are you doing with your 401 k and understanding taxes.

you need to do entrepreneur thinking within the system and they're showing that because they're showing how to deploy capital. >> everyone is still excited about "shark tank. you have good investments. still exciting for you >> it is very exciting this is the first year we did it live in 14 years and we still learn from the people that show up on that stage who you think about it, we started in '07, '08 when rough times -- >> a run. >> full circle. >> some of them have done quite well, your businesses. >> they've done very, very well. bomba socks is probably everybody knows, you buy a pair and they give apa pair away. >> i just need a quick read of the economy. you're ceo of fubu retail okay? >> very challenging. first of all, the access of people that want to work and the data on people are changing their buying habits.

they're worried about glasas and inflation. >> trade down. we should get trade down stocks. >> yeah. >> for real. my things at shopify are involved i read that they -- they're getting the winner giving $25,000. >> shopify showing maybe you don't need retail. everybody wants to be their own store saying you're going to pitch yourself to your customer, to your investors to anybody they want to have a pitch competition. the winner is going to get this cash and be able to have, you know, share shopify store and bring the business to life. >> we're blessed. >> yes. >> done well. >> yes. >> 25,000 is too low so i'd like if you didn't mind, i have a travel trust running with the cnbc investing club. let double up and make it 50. >> you're the man. appreciate it. >> thank you very much. >> thank you, as always. >> easiest call in the world to give back. that's what you taught me. >> the easiest thing to sell is the truth. >> daymond, you must, must, must

read his books which are so -- they are just so exciting to read and the stories of what this man has been through. "mad money" is back after the break. >> announcer: coming up, cramer takes your calls and the sky is the limit whi it's a fast fire lightning round, next.

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play the sound and then the lightening round is over are you ready ski daddy? let's start with martin in florida, martin? >> caller: hi, jim how are you doing? >> i'm doing well, martin. how about you? beautiful day in new york. how can i help >> caller: i'm in florida. >> that's another place. not that controversial, right? i've been very controversial >> caller: jim i wanted -- >> yeah. >> caller: jim, i want you opinion on two things, if possible on movie stock in general electric do you think -- >> ge is just -- you know, ge is tough because it does -- it has a great air space business, the rest is slow let's talk moodies a problem. there is so much to begin with, very hard time making the

quarter and the stock is way over valued. luann in new jersey, luann. >> caller: thanks so much for teaching me about the wonderful world of stock. >> thank you it been so darn hard thank you. how can i help >> caller: yeah, so i bought blackberry about a year ago and, you know, they're partners with amazon they're getting into electric vehicles they're, you know, this big pivot right from that little keyboard they used to have on the mobile phone but -- >> right but you know what? i've been against them the whole way down and the losing money and the memes against me on this and amc and against me on game stock and really hate me and you know what? i kind of like that. philadelphiaen doesn't bother me. so i say we avoid blackberry and avoid out of the game stop i don't know don't do the crypto and amc

right. let's go to grish in texas. >> caller: boo-yah, jim. >> boo-yah >> caller: i'd like to ask you about novavax. >> novavax sell the stock that's what i call dispositive let's go to teresa in colorado, teresa >> caller: boo-yah, dr. cramer. >> i always wanted to go to that med school but i'll take what i got now. what's going on? >> caller: first time long time and i do have to express my gratitude and appreciation for you sharing your expertise with individual investors like me and helping us navigate through this volatile market. >> so hard, teresa i talk about it all week with my wife and jeff marks. i want to get everything right and i can't.

it's the way life is how can i help you >> caller: oeriginally i purchased a position in 2015 in my ira account with the ageing baby boomer population this real else state investment trust has senior housing, life science hospitals and medical office space it posted another 52-week low again today still has a price earnings ratio around 53 with a 5.5% dividend yield. tell me, cramer, should i add to my position, hold or sell from shares >> thank you for the kind words. it's been laborious to say the least to do this job it's not simply as good. i would swap one to the other. and that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by t.d.

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i read a stunning headline in the financial times state treasurers punish for hostile to fossil fuels. republican office holders are pulling $1 billion over esg concerns the pension managers and some republican states are angry with the so-called green investing policies so they're taking action pulling money out of arkansas and losing in south carolina the state treasurer of south carolina explained that while he admires black rock ceo larry fink, he thinks the investing is hypocritical having money in services diverted from them for these globalist leftist ideas. to me, this is just plain nuts and not just because a billion-dollar hit means nothing to black rock, which manages $8.5 trillion. more importantly, they run the funds because there is demand for it people invest in companies they

think is doing good or not actively damaging the environment. they want to switch, not just be in a regular fund. esg matters. they have a done of funds at black rock not like they're force feeding people let me give you two pieces of sanity about this. it makes me angry. the demand is real so many people want to invest this way you look at the biggest winners, they tend to be companies passionate about moving away from fossil fuels. some of the best performers make it their business to help the environment so if you think esg helps poor people or historical minorities, you haven't looked at the stocks of what is winning and good balance sheets. second, what makes this move a total travesty, the asset managers i know, larry fink is the far most level headed. he doesn't want us to go green and doesn't favor higher gasoline prices. he doesn't want us to be like germany that decided to mothball the plants and replace with

russian natural gas. he's a driver of the concept over time. if you think that's anti fossil fuel, every major ce o feels th same way they're spending to go green if you want cleaner skies and less expensive skies, you have the wrong asset manager. he's offering choices people want, especially younger people that care about climate change because they have to live with it we keep having extreme weather events the scientists say they will keep getting worse it's turning into a business problem. it could be the biggest risk factor of all time so it makes me sick to my stomach to think of black rockers being singled out. i know a ton of managers more zealous. i don't know who is a climate change denier doubtless with these state treasurers want to invest with. he has a backbone and not afraid to voice his opinions in public

for being too green or not green enough you know what? here is what i think when you're attacked from both sides you tend to be where you should be which is why i admire this man and his firm so much. there is always a bull market somewhere and i promise to find it here for you on "mad money. i'm jim cramer see you tomorrow. ♪ putin strikes back in ukraine. i'm shepard smith. this is the news on cnbc dozens of missiles rain on cities across the country like nothing in months. civilians killed power and internet taken out why the attack on this bridge led to putin's escalation and what it means for the cold winter ahead