great song nike it is a nice run off the lows given what we're headed into i'm a seller if you own this thing here. >> 12.5% after hours thanks for watching "fast money. don't go anywhere. "mad money" with jim cramer starts right no is. 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 make you a little money my job not just to entertain but to educate and teach, talk about how a market can turn around so-call me at 800-743-cnbc or tweet me @jimcramer.

heads you lose, tails you lose that's how tons of smart money mangers see it we'll have a horrific recession and profits will evaporate if the fed doesn't tighten enough the fed will rampage and erode the value of the portfolio and scoff at the idea there might be a middle ground goldie locks sure solution dab use about days like today. the mighty dow gained and nasdaq inched up 1.70%. sus sometimes i think they want it to go down maybe they want you to lose money. maybe they made their money. don't care if you do hardly a day goes by without someone reminding me of the sour economy and i laugh and tell them i see things quite differently. i laugh because i see so many

segments of the market that can be potential winners in 2023 it's hard to take the sophisticated doomsayers seriously. you know what i've been thinking been thinking about this because there is five more m months unt memorial day they're like gardeners that decide not to plant because the weather conditions are so frightening now, particularly in chicago not realizing the current weather is temporary and it's a long darn season. mostly these bears have the focus of the major averages and have what is known as a top down view of things they're only looking at the macro data and the fed without doing a stitch of actual digging on individual companies. they're trying to scare you away from planting anything they don't have the knee pads i have going like this they don't have anything like that

they ain't got none. i've been gardening for 35 straight years nice hobby full of pitfalls but i see worth betting on every day. the naysayers don't know a potato from a tomato the sauce wouldn't exist if i didn't listen to these guys. the bears want to pull weeds but i'm focused on planting down some secular seeds because a lot of them can work next year i'll break them down for you because i'm in a gardening mood. first is health care the first time in recent memory we're not seeing any pushing from washington on drug pricing and far from enough. we're pretty far from the next presidential election that these companies won't be used as a typical political pinatas, at least not in 2023 they won't the top down bears maybe too

nice a name, perma weeds, quality health care stocks isn't like looking for a needle in a haystack it's like shooting fish in a barrel, maybe a machine gun. eli lilly -- listen, give you one example. listen to me i'm giving you one example listen mongaro, that -- get this. this isn't a b.c. drug at just 15 milligrams, this will give you a 22.5% reduction in weight over 72 period -- 72-week period according to one phase three study. a reliable weight loss pill, that's like a license to print money. and a couple weeks when everybody is making their new year's resolutions, how many

people want to lose ten pounds i want to let some top down strategists only looking at the bottom tombs and tens scare me from owning eli lilly? can they make enough to meet demand that's high quality problem which is why it's a big position for the charitable trust you can follow pretty much -- i read about this every day for the investing club and talk about it other than say i want the human quarter. a second rate medicare advantage program this year. if you're on medicare, you need a sup mental plan because a lot of doctors don't take medicare hi, i'm jim cramer do you take medicare no that's how usually it goes when i see a doctor these days. last year i had a professional screen this stuff for me and united health was hands down the

winner that made it so i can see a lot of doctors but this year she said you know what hu humana they had the best medical advantage business holy cow who would have thought that? who cares by the way if the fed engineers a hard landing humana isn't even on the airplane trust this one too and unheard of buy from me humana humana there is johnson & johnson that's hard to find j&j, how di i come up with that? whoever heard of j&j this stock is pulled down in a rut, pulled down by the non-pharmaceuticals that don't have much pricing like knew tra g -- nutrengena they're kind of like -- you know what they're like radishes. they're really hard to grow, actually j&j is spinning off the consumer division as a solid company to

consolidate and the remainder is a high growth drug and medical device company are we supposed to avoid that because the fed might get it wrong? the bears are confident they'll either over shoot or under smshoo but either outcome is fine if you own the stock of the brothers johnson so you don't like health care. have you considered the trillions of dollars the government is throwing the bridges, tunnels and buildings regardless if the fed throws us a severe slowdown? it's banked. do you know how much steel they need the earnings estimates are way too low. do you think deere and cat pillar will have to go 24/4? insane the gros ms margins are v voluminous you have one more reason to buy der

deere. there is a global food shortage. agriculture is insanely strong now but the bears want you to ignore the industry and instead focus on the two-year treasury, which is apparently sending all the wrong signals. i guess i got to be scared i never see the twos and tens in my garden. maybe i -- maybe i got the wrong ones if you bring up the government spending that's going to hit next year, these strategists will tell you why that's terrible because it's inflation and we got enough of an inflation problem. that's totally true but beside the point. if it's inflationary, it's good for nucor, caterpillar and deere that will come down in 2023 because we don't need as many computer sciences, bankers, lawyers, advertising and contractors because housing is hurt by higher rates if the fed over shoots. we learned rents are falling per

siptously. the bears will tell you the retailers are coming down. i don't care, that's fabulous for places like tjx that are ready to pounce on the soon to be corpse of bed, bath and beyond same for burlington. how about ally's bargain outlet? does mike wilson super bear's crystal ball say about that? ho honestly, i don't care i wonder if he belongs to ali's army like i do by the way, you won't see nike speaking of morgan stanley, that's one of my favorite financials for 2023. it's got an insanely cheap stock, high dividend and profits are roaring. morgan stanley earnings be eroded by inflation? the for the fed tamps down on

inflation, the more i stick with a company making the best numbers with 4% unemployment up from here and 4% inflation quite a bit from here. that's likely where we're headed how about goldman sachs? whether the fed over shoots or under shoots in 2023 it's hard to imagine a worse year. what do the bears say about that now that the firm cleared out dead wood or wood not burning hot enough there is aerospace we have a tremendous travel boom now causing an impossible shortage of planes filling one company certifyed to sell commercial aircraft, airbus. what happens when boeing gets clearance to sell the line if the fed takes rates to 7% and a serious slowdown, that might not be enough to bring down boeing when there is an airport shortage i wonder if fedex needs more planes and good number i see plenty of opportunities for next year. that said, i'm not hopping on the tech band wagon and said over and over again if the fed

under shoots or over shoots, the fed will be hurt the worst that garden is coming up everity. it's fallow. it's a gigantic oversized part of the market and that's where the pain is going to come from as it continues to come from but the bottom line, there is a whole market beyond tech and companies like eli lilly or h humana, j&j and cat will grow well don't let the pessimists convince you the whole class is baron. they are thumb suckers i got green ones mark in indiana, mark? >> caller: hey, jimbo. mark -- >> mark! >> caller: home of the number one boilermakers hey, my question about kroger. i bought it as a defensive play before last earnings release and since that time, it's actually under performed the market by 4% and i'm wondering if you think it may be associated with the albertsons end.

>> it is you know what? they say it's the 700,000 whatever union jobs. i believe i happen to like kroger and albertsons but we have a justice department that's quite different and ftc that's really different they are anti deal so it doesn't matter, you can put two angels together and they would say it's the devil there is a whole market beyond tech don't let the possess -- pessimists convince you. who are the winners and losers i'm taking a snapshot of the cohort and a closer look at the winners in the financial space for the year and a couple ideas that i think will work in 2023 and it's the best performing sector of the s&p 500. i'm finding out from rusty so 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 1-0-3-bc8074cn m miss something head to "mad money" at krrks nrks brcn brks kr c cdot -- madmoney@cnbc.com. madmo.

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before we move onto the new year it's worth looking back on the year that was. that's why i keep highlighting the best performing sectors but tonight we do something different. i look at another corner of the market, one mostly forgotten in 2022 and that's the ipo space. every couple years we're constantly flooded with now deals in 2021 we have more than 600 companies come public via traditional ipo or spac mergers.

this year, that flood slowed to a trickle. wall street no longer had the patience for these initial public offerings very few traditional deals and thank heavens very few spac deals. it's got incredibly ugly thanks to the federal reserve relentless war on inflation. of course, as i see it, that's a good thing one reason the market is hit hard is we had too many ipos in 2020 and 2021 and that created a stock glut we need to get a stock shortage before the market can truly bottom and that can't happen unless companies stop coming public fortunately, what is more or less happening this year and that's why it's been maybe a tremendous setup as i said at the top of the show for 2023 now, last week, renaissance capitc capital published a look back

shockingly small we had 71 ipos raising 7.7 billion measured by the proceeds this is the weakest year for ipos in more than three decades and that 71 number, honestly sounds bigger than it really is because most of these deals were tiny and i mean really tiny like i can't talk about how tiny. 16 of them raised more than $100 million. when we ran a check on that figure, we found 17 but that's still ridiculously low we had years where there has been billions upon billions and billions of dollars raised this was not one of them when renaissance capital compiles the numbers, they exclude deals to the closed end funds, spacs we did our count with the tiny deals and got 98 ipos this year. we counted the tiny ones why so few of the 98 stocks 20% are currently trading above their

price on average the members of the class of 2022 are down they're down what a bear market they're down 34% from where they came public. that is nothing short of horrendous when you break it down, the smaller deals have done much worse than the larger ones look at the 17 ipos that rated more than 100 million, nine out of 17 are up from where they came public. on average, they're up just over 15%. in other words, legitimate companies that have the ipo in a big year mostly did find, i'm looking at dogecoin companies for next year. if you want to rack up home runs for the smaller years which a lot of people did because they want to trade the dollar stocks, man was that a sucker's game listen, we counted 22 ipos that raised $10 million orless. 21 of the 22 are below where they came public on average down 56%.

that is awful. i think you need to be highly skeptical of anything this small. they just don't work speaking of tiny ipos, we has two dozen of small deals where the issuers sold shares. listen to me on this because you might be fooled, not shares but units consisting of one share and then usually one to purchase another share at the offer price. one share and one warrant by another share at the lower price. now, the reason why -- i got to get this straight. see, here is what is happening there is a lot of shenanigans in the market and the offering is one of them. now, it used to be something i liked because i wanted to be able to buy another share but these are losing money left and right, maybe for you maybe people thought they are getting a great deal with these things but they ended up getting

ripped off all of these companies are too small to mention on air. i can only say if you participated in the bizarre micro deals, you probably got hosed because the stocks are mostly down huge from where they came public. many are trading for under $1. i sure wish i could name them but we're not allowed to do that on the show. i got to tell you this is a scam i want ended how about the larger deals that are actually worth noting? we covered a hand full this year because there were so few of them but some did well on april 22nd we highlighted accelerated energy that releases floating natural gasc convergin. their shapes make it possible to import natural gas via sea the stock was at 24 and change because after russia invaded ukraine, the whole world became desperate for american natural liquified gas and they had to build it the infrastructure. accelerate rallied to $31 and

change at the highest last month and pulled back to 25 in part because ennear gergy prices hav down that's a better one than the s&p 500. i like accelerate. that's a great story next up in june, we told you to stay away from the pending ipo of ivan hoe electric that struck me as a business plan more than a business the name that could have done very well if it became public last year but bound to be a dud in 2022. it hit at $11.75 before falling to $7. that said it's made a comeback i remain skeptical of ivanhoe. more importantly, the insider lockup the lockup on insiders expires

on christmas so if you own it here, i recommend you recommend the register before the insider. made me like tomorrow. finally in late october we talked about intel spinoff of the self-driving car and advanced driver assistance division this was tough because i very much like it, i feltner nervous it jumped from $21 to under 29 on the night of the ipo. i told you to wait for a pull back to 24 where the stock could be trading at less than 20 times earnings i did pull back over the next few days, it came down to under 25 since then the stock rebounded hard coming back to 33 and change what is driving the move first off, the analysts firms that brought this public has ended and their coverage is all worshipful second, mobile eye recorded a strong number so where did i

come down on it now? again, i still love the business better than expected these are smart guys but and this is a mighty bugig but, they continue to own about 94% of it. if mobile eye keeps doing well, i have to believe intel will sell down the stake. that's real bad news for the fellow shareholders. that's why even though i like it, i can only recommend buying into weakness because the intel over hang means some weakness is almost inevidenviinevitable here is the bottom line. in an anemic year, a few of these names are worth noting large yields did okay but most of the ipos in 2022 were tiny and if you got a piece of them, you lost your shirt. please, please, i'm begging you, don't make that mistake again in the new year "mad money" is back after the break. >> announcer: coming up, santa is great with trains and cookies

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we now have just seven trading days left before we close the books in 2022 so before we break, we're looking on the best performing stocks broken down by sector. last week, we highlighted the winners from the five strongest groups, energy, utilities, consumer staples, health care, and the endusindustrials. we're looking at the weakest sectors. last night material sector and tonight the next worst performing cohort, boy, i know you're bored down 14% like most of the sectors like i said at the top of the show,

broken down by icndustry standards, it's a catch all category insurance companies a group that are phenomenon because the stock is too great to slow the economy with rising interest rates think about this, do you stop paying your premium in a recession and more important, higher rates mean insurance rates can take your premiums and invest them for risk free return higher rates are huge for their bottom line. that's why the 14 best performing fans of the s&p 500 were insurance companies then you got the banks, the capital market plays and credit card companies the banks are in negative territory down more than 27% it is kind of embarrassing when you think about it because they should have done much better given the fact that the yield curve and such, they can reinvest your deposits, big prices on average the capital market down 20% and credit card stocks down 24%

no secret anything related to capital markets have done badly and credit card industries are slammed by lower consumer spending and much higher defaults as the economy slows down like what powell wants to happen what surprised me is the banks have done poorly they are more powerful when the fed tightens because again, remember when they can do. they can take your deposits and invest them in treasuries risk free for a better return but wall street is worried they will get slammed by bad loans. that's historic. that's what is happening if we have a period when we have high unemployment as we go into a fed mandated recession and borrow sometimes down and some areas like now more of a mortgage business but if you have great employment, i don't think these loans can deter rate as fast as 2008 rather than looking at the best performing financials, the top three are all insurance com comp companies, arch capital i didn't know well at all at 36% and berkeley up 30% and globe life

beats the heck out of me at 25%. let's start with the best performinginsurance in north america, europe and australia. we don't know this company well because it just joined the s&p 500 taking the place of twitter. there is nothing particularly special about it but the company delivered strong quarters and business is booming here despite big payouts for recent natural disasters like hurricane ian stock sells for less than 12 times earnings after this run. 12 x okay so i think it can keep running i mean, that's just a very expensive stock and clearly management agrees because they announced a billion dollars buy back yesterday even though it's up here. next up, the best performs capital markets, wealth management and investment banking outfit with a stock that's rallied, rallied 5% for the year this is actually up but really up a lot back then

that may not seem much 5% but every capital stock is down. raymond james is a solid asset management group and made savvy accusations of late and the shock is cheap trading less than ten times. i think it can continue to grind higher but if you're betting on a capital market to come back, i'd much rather own the big boys than goldman sachs and morgan stanley but this proves will these strategies tell you the market can't make any money? you got to lose money and the s&p is going down and big wigs, they don't understand stuff like raymond james and then diversified financial stocks that's led by warren buffet up less than 1% for the year, much better than the broader stock market if it's treading water. why didn't it do better? the top holding is in the cross hairs of these apple currently accounts for 40% of their entire portfolio and apple is down 25% for the year i'd rather own apple directly if

you want to pebet on a turn around i think apple will have to proannounce at the beginning of the new year and that's what everyone is trying to get out ahead of that said, burke shire math away is a long performer and nobody bets against warren buffet the top performer here, an alabama based regional financial, parent of regions bank 1300 branchs across the south and west there is nothing particularly sexy about regions it's a good solid regional banking franchise with a nice 3.85 dif denvidend yield of course, the stock is down 5% for the year even though regions looks cheap trading at eight times next year's earnings estimates, it's much more expensivetangibles i prefer huntington ohio base a lower priced book ratio and i like the area.

finally, let's not forget about the big national bank. the best performer wells fargo is down 14% the year tougher environment but you know i like wells so much it's the largest holding for my charitable trust and reached a $3.7 billion settlement for the bad practices under the old management the company tells me i might be more than 5.5 billion. that's including fees, don't forget, lawyers' bills it's horrendous legacy and poor treatment to bed that's a lot of money but worth -- remember that darn over hang which is why the stock initially rallied on the news. i think wells fargo is a fantastic long term turnaround story. remember, this stock -- look where it was okay it was here. it was not as good a bank up here as long as we don't have a severe recession, this bank with very few bad loans, the lowest it had could be a monster performer and got bad news out

today. not bad news tomorrow. some of my favorite financials from 2023 were far from the top performers of 2022 even though anything related to the capital markets are awful, morgan stanley spent years pivoting into the asset management business steady and takes a big hit when the stock market goes down because the cut depends on assets under management and lower stock prices equal lower also sets still, those businesses will turn around eventually and morgan stanley is paying 3.6% yield to date. last but not least, we spoke to s&p global last week s&p struggled this year my kind of fintech, it struggled because the biggest business is credit worthiness of bonds but if the fed stops tightening next year, the s&p global can make a major comeback everyone is giving up on this fantastic long-term growth stock i think will have a hockey stick up when we finally get near to

the end of the tightening cycle. here is the bottom line. outside of the insurance industry that is boring, this is an awful year for the financials but if you think the fed will stop bringing the pain at some point in 2023 then many of these names could become tremendous performers especially wells fargo, margin ston drk -- morgan stanley. let's take calls let's go to berry. >> caller: how are you >> good, how are you >> caller: very good, thank you. i'm calling about jp morgan chase amongst all the banks, do you feel this is the best one to hold >> fantastic bank. fantastic. i saw yesterday it had just been hit and hit and hit and i think it's finally -- it's getting to some level that i think people are coming back and saying you know what? at 3%, i can make money owning this thing at 130. they also feel like because of 116, they're able to buy all at

once and i agree with them buy a little and then buy more on the way down. isaac in new york, isaac oh, no we're going to have to save isaac for another day. yeah, i like isaac all right. this is an awful year for the financials but if you think the fed will stop bringing the pain at some point in 2023. many of these names could be tremendous performers particularly i like wells and average capital and i should have thrown in chubb because that's a great insurer much more "mad money" ahead. last week the rest of the year and then in 2023 because the oracle of oil agree on finding out. then we had two major announcements this year with troubles with 3 m and wells fargo so what do you make of these? i'll give you my take. all your calls rapid fire in tonight's edition of the lightening round so stay with

lightening round so stay with cramer.

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energy sector was the single best performing group in the s&p 500 this year. they have come down hard in recent months as the price of oil pulled back to the mid 70s given we're hostage to inflation and energy is a huge part of that, this is incredible part. i'll check in with rusty braziel, the founder and executive chairman of rbn energy he had a clear picture of what is going on. rusty, welcome back to "mad money." >> jim, thanks for having me back appreciate it. >> rusty, this is one of the most unusual years

we have a red hot economy and closed and russia producing a lot but always produced a lot and all that is happening is energy is going down in price. will you make some sense of this for me >> well, you know, in terms of what is going to happen next, it depends what happens to the economy. if we have a strong economy and strong china, we'll see $100 crude oil prices again if things drift off, we'll see crude oil prices come down and the good news i guess is that it should be -- there should be a floor this time around because you got opec and the bidene administration in align. if crude gets to $70, the biden administration says they're going to purchase crude oil for the strategic petroleum reserve and if prices get below $70 opec

will cut production. you have a floor this time around you don't know if it's going to work perfectly but certainly something that didn't happen before. >> we have a bunch of oil people really great companies that we know well. the pioneer, devon and they have decided look, we're no longer just pumping for the sake of pumping. we're going to offer very good dividends. when i hear what you say, i wonder whether $70 allows them to continue to offer these very big dividends. >> well, they're going to continue to offer dividends, the question is how big. $70 is certainly not 120 things are way down and these guys have double digit cost inflation so they're going to get squeezed and they're going to be paying less out. of course, they can do less in terms of buybacks and that will create some cash and of course, they can always drill a little less and that would create cash, too. given the fact they have great

rates of return at $70 i think they will stay with the budgets that they've announced. >> okay, now, let's talk about russia for a second. you taught me in many, many times, listen, jim, wells, they run out. you run them full speed. they run out and you got to replenish. we have cut off russian technology do they just have so much oil that they don't have to worry about it >> well, they got to worry about it but the wells we drill, the shale wells decline rapidly. russian drills don't have nearly the steep decline rate we have with the shales so they have a little insulation against the decline rate with enough money and they're doing okay in terms of price they have enough money to be able to bring technology in to be able to keep them from falling per siptously.

>> if we had an energy policy our president is reluctant to sit around the room with the energy people. seems like he would be more comfortable sitting inned saud arabia and berating them. >> i'm not sure if we can get to self-sufficient but again, providing the gas that is not really self-sufficient, right? >> if we are -- let's say we build out like sempra keeps going as great as it does, couldn't we make it because we have so much we can make it so they're not hostage? >> we could but just exactly as you said, there is not a policy that will get a pipeline built out of the northeast senator manchin tried to make that happen. it has not happened as far as i

know and not only that pipeline but other pipelines as well would be needed to produce out of that region and if that doesn't happen, they will only hit about 80% of their capacity of what they could produce if they just had the pipelines to get it out and get the energy terminals and get it to europe. >> we're shooting ourselves in our feet what do you say about that again about the five-year curve. the curve is rarely wrong, what does it say we'll be at five years from now >> oh, no, no, no, jim the curve is mostly wrong. it is more wrong than it is right. [ laughter ] >> okay. >> the forward curve is simply the price that which someone will transact business and backward dated for a year and a long time now. what that means is the price in the future isless than the price is today we had a short period.

about two weeks ago where the first six months of the curve, it was actually having prices a little higher that didn't last long and so the story that it tells you is there are more sellers five years from now than there are buyers and that's the reason the price is lower and that gives you a sense of the sentiment of the market but that's all you've really got out of the thing is a sentiment of the market if the economy comes back strong, and if china comes back strong, again, you can make a good case for $100 crude oil. >> what i take away from you is look, nobody knows what the future is but if the economy is strong and china is strong, the future is bright for oil and that's what you want if you own an oil stock. >> that is exactly right. >> well, fair enough it is always great to speak to you. you're straightforward i won't worry about the curve. the russians have enough oil if china and the u.s. comes back, it's good. we can't make it so europe is

sufficient because we have our own problems and we have a lot of oil here but they need oil prices higher to keep the big def dividends up you always tell it as it is. terrific source for the founder, chairman rusty braziel i start every morning by reading rusty. you got to do the same "mad money" is back after the br break. >> announcer: coming up, what is in your mind cramerica give us a call the lightning round is storming the nyse next

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it is time, it is time for the lightening round buy, buy, buy, play the sound and are you ready ski cdaddy, frank in new york, frank. >> caller: boo-yah from college town in upstate, new york. >> sweet. >> my question to you is -- >> sweet. >> caller: my question to you jim, can you help a family of six out with three in college that needs advice stock ticker mga. >> mga worries me. i would rather own an autocompany directly expensive. come on. jerry in missouri, jerry >>. >> caller: hey, jim, thanks if r taking my call. >> of course. >> caller: i want to ask about roblox. >> too expensive sorry. not making money don't work for me, that ladies and gentlemen is the conclusion of the lightening round. >> announcer: the lightning round is sponsored by td ameritrade coming up, has a godzilla size

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there's no going back. hello, world. or is it goodbye? you know, it seems like hope and trust are in short supply. [clap] now, as businesses we can blame and shame. or... [whistles] we can make a change. [clap] we can make work, work for our communities. create more equal opportunities. [clap] it's time for business to show its true worth. because it's not goodbye, world. it's hello, team earth. [clap]

wall street has no idea how to assess litigation risk. this morning we got two major announcements stemming from legal problems, 3 m and wells fargo. complicated stories and the market isn't reacting the same way. let's pull them apart. wells fargo was ordered to pay $3.7 billion for illegal activity committed by the old regime huge number. it fell 84 cents up at one point because it wasn't off fresh money. the fine $1.7 billion is new but the rest is money spent other than roughly 300 million for more remediation suboptimal but within the range. a bad actor they might not be finished remember, the bank committed loan violations for years

screwing over many customers while the company didn't admit or deny the bad behavior, this is an attempt to put the past behind them. they had the fills of wells fargo coffers. pick seems over. other agencies are after them. in the end they might pay $5.5 billion entirely to put this to bed, which includes the legal bills and many other smaller fines that are likely headed their way because old wells fargo was a bad actor. put it together they might be on the hook for 1.8 billion on top of today's settlement, money they have and can pay, which is why i say only when you consider the stock is only up less than $5 from the low, i think that's already baked in traded at 60 not too long ago. longer term, i get the sense wells fargo won't be in the cross hairs for anyone nearly as large as the one they got and the bank can buy back stock and accumulate they got past the over hang and

turnaround story and that's why i buy wells fargo aggressively here if you own it already like the charitable trust, if anything, the stock should have been up today not down 2%. remember, it traded at well over $60 again last five years ago and much better bank now but that's when the government started putting the screws in them join the investment club we have been telling you this is bottoming. what about 3 m different litigation story 3 m announced it getting out of the business known as forever chemicals that are extremely strong with tremendous durability they stick around. company will take a $1.3 billion sales hit and charges anywhere from 1.3 billion to 2.3 billion to exit the manufacturing what 3 m describes as safe. they plan to stop all use by 2025 because they're facing so many lawsuits and say the regulatory risk is high. unlike wells fargo this is open ended. when i heard about problems with p fast the forever chemical i predicted they could lose tens

of billions of dollars because this is leaking in the ground water worldwide and allegedly causing cancers. initially they mentioned it in worldwide exposure and a footnote like it was nothing but not nothing. they're being sued for giving people cancer. the legal liability here could be very big. and that is just the tip of the iceberg. what we're talking about legal whoas for 3 m and make ear buds for military that many veterans declaimed were defective leaving them with ringing ears, something i have and is awful. 3 m says they did nothing wrong but might lose billions and there is a division of ear, nose and throat people ready to testify sympathetic. the polar opposite of what is happening at wells fargo at wells they have a huge legal over hang and settlement puts it to bed at 3 m they have two potentially colossal problems unqu

unquantitifulble i just can't get my arms around the exposure of that great american company and that means stay away. never want this negativity hanging over your head which is why wells fargo got more enticing today and 3 m now strikes me as a potential mine field. i like to say there is always a bull market somewhere and i promise to find it here on "mad money. i'm jim cramer see ya tomorrow. their own hands. well, sharks, do i have a treat for you. you got to stop doing this right now. what's the game plan for world domination? and i'm just sitting here trying to find a way i can could be your partner. i would love to see if anyone else is interested. -this is how you thank me? -[ laughs ] walk this runway. let's go. there you go. [ laughs ] i believe that you could sell anything. -bang-tastic! -bang! you just became a want-repreneur. ♪♪ -- captions by vitac -- ♪♪