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tv   Mad Money  CNBC  January 13, 2023 6:00pm-7:00pm EST

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enjoy the long weekend 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 make you a little money my job not just to entertain, educate, put days and weeks like this in context so-call me at 800-743-cnbc or tweet m
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me @jimcramer. the snap judgment fools last again. major banks reported earnings with the exception of citi group initially pummeled sellers panicked out of jp morgan but once their conference calls got going, the stocks roared higher in some cases dramatically especially cramer fav wells fargo with the dow gaining 113 and s&p advancing .4 3 % and the nasdaq, the home of the stuff crushed up ano another .71% this rebound for the banks reminds us earnings season is incredible tretacherous not jumping the gun, every quarter i make the same argument to wait and do more work before
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you pull the trigger a lot of people are not convinced and i know why because they be stupid why did these highly important bank stocks turn around after being pummeled at the opening? simple things turned out to be better than expected and much better than certainly the bears were thinking like i've been saying for ages, the banks are making a ton of money thanks to the rate hikes without activity and the loan losses aren't that bad once the conference call happened, anyone that offered to do an ounce of homework realizes that consumers are alive and well a little cautious, which is what the fed is aiming for. less spending, little more saving,less inflation than wrecking the economy, that's terrific for the stock market for you and me and means the end of the tight pening cycle is in
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sight. the ridiculous bias to sell the bank stocks before hearing anything was dead wrong. as the case since 2023 got rolling. we have to go through the game plan to find out because this is the heart of earnings beginning. on monday, we have martin luther king day so the market is closed tuesday, full swing. when both goldman sachs and morgan stanley report. we had a press report potential weakness they tried to get on a massive business told them not to if goldman can put up good numbers because of the story that ran, it could be just rocket fuel. it could rocket higher it's only selling ten times earnings no way the investment banking
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business stays bad forever eventually we'll get mergers but not with this crew and ipos and that has to happen because there are so many stacked up and gold man will once again as it did when i worked there be printing money. even though i am indeed a goldman alum, it will come from morgan stanley they moved into the wealth management business which is more consistent than traditional investment banking i expect, i demand a terrific number it will only get better when mergers start happening and you'll see when morgan stanley reports. next up, the airlines again. american was great this week delta was subpar united will put up numbers reporting tuesday night. travel is the last base of consumer spending and united is at the heart of world travel, which is booming how about wednesday?
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we'll hear from j.p. hunt. they are huge and we know sup my chain and trucking is the lynch pin of the whole nation's problem of commerce. we have to be listening of signs of slowing j.p. hunt would know ahead of anyone i know they were temped ahead of the conference call. commerce is tough to judge but let the companies judge for us we don't need to rely on the government numbers these guys know more jp hunt knows more than the labor department and the commerce department. the medals, man, they've been going nuts like meme stocks. they burst the scene with huge momentum since the start of 2023 they have become insane stock growers. i got to know more than that i can't buy a stock on the base of momentum. the metals move is a squeeze or the real deal with demand from china. now, while this is a big week
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for earnings, we don't be 0 oblivious. that's right jeanette yellen said the government will run out of money likely on thursday thanks to the debt ceiling standoff we have every few years, like a "halloween" movie series republicans and democrats in congress, a total distraction from business even as it very much matters we don't want the government to run out of money these standoffs tend to get resolved but after threatening the stability of the market and brings it down if not attempting to bring down the entire republic by the way, it crushed the defense stocks today and they will be unsteady until this gets resolved we get housing starts on thursday and these numbers will be hard to dissect what do we want? we want a lot of homes to be built because there is indeed a three need for them but we don't
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want them to go up in price. we want the home builders to do badly. we want supply to overwhelm demand driving down prices i think houses are a problem for the fed and they haven't pa panicked enough to get prices down significantly but the buyers have gone on strike we'll know more later but who usually wins is buyers and sellers panic and break price. thursday is about washington but i'd rather focus on another city, cincinnati and not just because i think the bengals will win. this is the morning proctor and gamble located and reports and i think it will be darn good proctor was hurt by the strong dollar last time but the dollar is insanely weaker trying to push through insane price increases to keep up with the insane raw cost. since then, the price increases have stuck but the raw cost have come down. proctor might be the perfect headwinds to tailwind story. we own it for my charitable trust. we'll be all over it for members of the investment club
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at the morning meeting and around 2:00ish the home stretch. remember, fang, that ridiculous acronym i coined that is irrelevant, there is one company that's broken out into super bull mode and that is netflix, which is putting up amazing numbers. the secret, it's the slate it was always about the movies or series more importantly netflix got tons of new subscribers, they didn't produce much now contempt. things are back to normal and programming improved dramatically and causing people to sign up all over the world. netflix can be one of the strongest stories for all of 2023 you know i'm a big believer in the oil move if you agree with me, you'll be riveted. they own a great conference call s.o.b. i they changed the name
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used to be sum chlumberger. when things were bad, they told you. most people when things are bad they do what disney did and tell you about a movie they liked these guys are doing well. s.o.b. will tell us where the new fines are and play with an open hand and give you an update on russia, too prep yourself for next week. it's one of the two busiest weeks of earnings season but a third, this is three really big week s but this starts everythig and makes it so we'll be up late at night studying stories. bottom line, we told club members the fantasti fantastic breath of the market and buys not sells are darn good but we get too much speculation we'll talk about in a moment, that could hurt us. what a difference a year makes then again, last year was so bad
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as we analyzed the numbers we have a reason to stay bullish because if the banks are any indication the negativity doesn't jive with the reality and that's a very positive scenario for the bulls indeed let's go to hunter, hunter, in maryland, hunter >> caller: hey, jim, boo-yah to you from mr. mark's business cl class and i'm wondering about raytheon. >> boo-yah back at you mr. mark's class is rocking. it's budget crisis when in the meantime they have inunbelievable aerospace and it's a buy, buy, buy and i'd buy it but not buy until thursday when we get the budget ceiling and then mr. marks' class should pull together like a lottery ticket and buy 100 shares. okay, we have to remember that last year was bad hey, hey really hard.
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as we annualized the numbers, we have a reason to stay bullish and like the action today. on "mad money" tonight, you called in and stuck me an mativ. what a name. tonight i'm turning in my homework for the performance materials company you never heard of to see if it could have any material impact on your portfolio. then, the meme mania is back in bed, bath and beyond could this be a red flag who knows. it is one dangerous gain and does your portfolio have what it takes to handle whatever the market throws at it? tonight we're playing am i diversified? so stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter
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have a question tweet cramer #madtweets send jim an email to madmoney@cnbc.com. or give us a call at ss800-743-cnbc mi something head to madmoney.cnbc.com.
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. it's a new year. the same "mad money" with the same traditions including taking calls from our viewers every night about the stocks they're interested in. when we get a question i don't know the answer to, i circle back and give a more considered response so i want to clean up the last homework item from last year on december 23rd during the last show of the year. we got a call from david in iowa about mativ holdings
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m-a-t-i-v. i wasn't familiar and i told dave i'd get back to him and now i'm pretty impressed i think there is something here. for over a year i told you this market likes and we like companies that make real things, provide real services at a profit and return profits to shareholders via dividends and buybacks at the same time only worth owning at the stock is trading at a reasonable valuation. mativ holings passes every test. this is a company that makes a range of endpagineerscomponents. there is fiber based solutions from health care to filtration, sustainable packaging. i didn't recognize mativ because its it's new it merged with nina and both companies were spun off by kimberly clark they made fibers and i've known for years and nina was about
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filtration, media, coatings, engineering and packaging. the idea here was to join forces and create a special materials company with more left racking up $65 million small company. that does a lot. of course, the problem with special materials and packaging is these tend to be cyclical businesses, somewhat cyclical, not as much as old fashioned paper but rise and fall with the broader economy. the broader economy is failing the stock got pulverized last year before and after the deal closed had another low last november reporting the first combined company. positive highlighting the 12% organic sales growth on a during remember see basis saying they were ahead of schedule achievin the forecast but neither sales
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and earnings came in weaker than expected they gave us a discouraging forecast for the next quarter. the ceo invited to the show right now, right here blamed the strong dollar a weaker economic backdrop and rising energy cost in europe. that said, the stock bottomed to $18 and change and right back up to 21 and change when david in iowa asked about it before christmas. since then, the stocks roared higher just as the beginning of 2023, crazy year already up more than 20% taking the stock to $25 and change right around the highest level since the nina merger in july. this is part of a broader move than the material space driven by the fact the fed seems to be making real progress in the flight against inflation so they could start tightening sooner than expected. if jay powell can engineer a soft landing, that's great news for the plays. of course, i've been telling you a recession definitely wasn't
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inevitable for ages but now at least some of the wall street is coming around to my idea and if we don't have a recession, no need for money managers to dump the holdings, hence why this stock is going higher. plus, on wednesday ceo julie made a presentation at cjs securities new ideas for the new year conference. i like that. she gave me a lot of good color on the business. she talked about the strength and profitability of markets but more importantly, she highlighted something that a lot of people didn't realize because they thought it was cyclical she high lighted the resilience of the port polfolio in a downt. 60, 6-0 of her business is recession resistant. release liners and protected solutions and also outlined the logic behind the merger. for example, both companies serve many of the same customers
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but made different components for each filtration device they're in the same business but not as direct competitors so joining forces gives them more bargaining pow we are customers and mentioned the possibility of portfolio actions impossible for the two smaller company. translation, maybe acquisitions. okay what's keeping this one back i mean, i'll tell ya what. it's not a super exciting story. it's not a data dog. it not a mongo, dp, not a building that crushed ya in the current environment, i don't want excitement. i want kind of a good story that makes money and even though it's run up 20%, stocks sale for eight times this year's earnings making it much cheaper think wes rock or international paper. much better and yields 6.3%. honestly, my one concern is when i see such a low priced earnings
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multiple and a high yield it tells me money managers can't meet the estimates and not much faith in the dividend or the stock would be higher. where do i come down on this one? look, it depends how you feel about the economy. look, if you think of recessions are inevitable, mativ is not for you even if 60% of the revenue is recession resistant, the other is highlycepssensitive to swings but if you think we're looking at a soft landing like i do, then that is definitely worth owning a terrific company though i'm always hesitant to recommend anything after this short term run. i think even the bottom line, if you're feeling down about the economy, you got my blessing to own mativ. maybe you wait for a better buying opportunity this market is over bought so the next time a data point or fed president's comments revive our recession fears or talk about how to raise rates to 6%, maybe it's time to pounce. overall, though, i tell you this
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is a solace story. i wish i had known about it and able to address it before this monster run. mativ. thank you very much. our viewers know so much "mad money" is back after the break. >> announcer: coming up, who put the rally caps on early in 2023? cramer cracks into some fast movers, next heart-pounding design. intelligent technology. courageous performance.
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off to a good start for 2023 but is it too good i never want to complain about higher stock prices but as we move into the real meat of earnings season, the forecast might turn out to be more discouraging than today. at the same time according to the short range oscillator i follow, the market is very over bought anything above five means stocks
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could let's say go too far too fast and we're at eight which makes a pull back seem inevitable if that pull back might be the buyable kind. what bothers me most about this january so far is that we're seeing the return of rank speculation and the lowest quality stocks out there the stocks of companies about to go bankrupt or could if the economy keeps weakening specifically until today we witnessed one-way buying in bed, bath and beyond and carvana up 46% and 48% respectively for me, this is a huge red flag. ut oh, i wish i'd made more -- whoa i made time for this story last night because bed bath stock collapsed 30% today on rumors they might sell their descent
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asset like bye, bye babyy -- ba. carvana fell could have been better yet what can i say the decline should have been predictable. bed, bath and carvana become meme stocks. you almost get burned. get early. you got to get the call so to speak and the phoniness and you need to be in there with bed, bath with the 23 before falling to a buck and a quarter last august and tends to be a bad broader side why? there was speculation of a solid investing. when a meme stock goes bust, we call it the meme stock hangover. if you want to play this game,
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it's not good. sure, worked with hertz that inspired a lot of people hertz had been killed by covid lockdowns and thebusiness came back when the lockdowns went away and used cars soared in value. at the same time, we were in a benign environment where the fed was your friend back then. right now the friend is-- fed i not friend of yours or mine. they want to stomp out inflation, borderline worthless securities because by the way in crypto, they're not -- believe me, when crypto goes up like this week, they're not crazy about it let's do this. let's walk through and see what happened first, when you see the memesters push up 50% in two weeks that should make you a little nervous almost every time we've had one of these meme stocks where home gamers work together to engineer a short squeeze, it led to a broader selloff in the market, particularly the nasdaq. we talked about this before.
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the mania sends money managers scrambling to the sidelines because it feels like the inmates are running the asylum we had switch of these meme stock hangoverers and on average, the nasdaq tumbled 14% in response. by the way, the last time i warned down about this was late august when that bed, path and be -- bath and beyond was the mem before it collapsed. i don't think that will happen again but it's not a good sign second, when it comes to carvana and bed, bath and beyond, paying for either is nuts bed, bath has been struggling for years but things are so bad, the company preannounced hi hideously weak sales for the three months ending last november delivered $1.26 billion in revenue when wall street was looking for 1.4 billion. 1.2 versus 1.4 worst earnings sight it racked up a huge loss
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$385 million more importantly in a regulatory filing, bed bath decembeisclosee is a substantial doubt about the company's ability because it's almost out of money. this is code, people it's a kind of language that often predate as bankruptcy filing and sure enough, we have more detailed information today that suggestions it's highly likely hence the 30% decline believe me, these people, the memesters tried to keep it going. when we heard the news, they could not do it. they fall from their weight as for carvana. there is no concerned language there, as least of yet i'm regarded as a mprecarious situation and there was reporting the top creditors have formed a pact to work in the event of a bankrupt siand we've heard of restructuring these are things you came to see
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ahead of a bankruptcy filing no dpauguaranteeing there will e one but there is a reason the stock plummeted north of 300 from the summer 2021 to 300 and change the used car market is deteriorating and carvana is a long way of being profitable in the old days they could sell stocks to fund the business. that's harder to do in the single digits. it's not -- i don't see a lot of ways out for them but there is a lot of ways to skin the cat when your company is in trouble yet, this week bed, bath and beyond and cavana soared higher. it was up 300% for the week. carvana was up 82% before they collapsed. this is an extremely risky gain. i'm trying to keep you from doing this stuff in the event of bankruptcy, most of the time stockly wiped out.
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they diva it up or own the equity and you get nothing if you buy bed, bath or carvana there is a high chance you'll lose your entire investment. there are occasions where it doesn't. in may of 2020 hertz filed for bankruptcy and investors started bidding up the stock rallying at 1400% and tried to do a secondary offering to raise money not long after hertz got d listed making the buyers look not so smart but then in the spring of 2021, something funny happened the bankrupt hertz got bought by private equity firms and the deal included an unusual highly regulated payout for $18 in share for the reorganized company. if you bought hertz in the spring of 2020 if you paid 40 cents or $6 you got whole and then some and that is created a lot of i hope it's hertz, i hope it's hertz but the hertz
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situation has nothing in common with bed, bad or carvana once the company was emerging from bank reruptcy their busine bounced back at the same time a gigantic used car shortage and they were sitting on an ocean of used cars. they became more valuable during the pandemic to the point there was a bidding war to take it out of bank bankruptcy. more importantly, unlike the hertz situation they haven't filed for bankruptcy yet at this point, there are two ways to win. one, bed, bath and caravanvana d bankruptcy the other way to win is they declare bankruptcy but the stockholders get a piece of the reorganize nd entity like in hertz. that's not impossible. carvana has land and bed, bath
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has buy, buy because it makes money. here is the bottom line, the meme stock feeding frenzy is a sign that i don't like a sign of speculation. and we need to see speculation run its course or the january rally will be a lot more harrowing than it -- a little more than 2022 than 2023 frankly speculating companies headed for bankruptcy is a dangerous game not worth playing. it's not too late to and find something with a better bottom line and move on, please let's go to brian in my old home state of pennsylvania, brian >> caller: boo-yah, jim. first thing i wanted to say -- >> boo-yah brian go birds >> caller: my question is about under armor and whether or not you think it's a good-bye. the new ceo has built the platform from marriott into 175 million users and i just want to know if you think she'll be able
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to help under armor grow into a competitive market with the likes of nike and adidas and lululemon. >> i had for a long time disliked under armor but i have now warmed up to it because of exactly what you mentioned, the change in the ceo. i've always liked kevin because he's a competitor. i think you're right to do under armor but remember, it's up against nike and that's a very hard competitor to beat. let's go to matt in north carolina, matt >> hey, thank you counselor for taking my call. >> no problem, what's going on >> caller: the stock i'm looking at, you know, it's been in a slump for five years you know, it's got a p.e. of 11 and beats earnings and makes money without a lot of debt. is now a good time to buy 3 m with all the litigation 0going on. >> yellow flag why? because the litigation is not just for p fast which these chemicals almost impossible to
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ever get rid of and that's ground water problems but also because of the combat arm situation that many veterans have gotten hearing problems and t 3 m things too tough for this guy the meme stock feeding frenzy in carvana and bed bethath and beyd is not something i like to see it a dangerous game i don't want you playing. much more "mad money" ahead including cramer's am i diversified and embracing shareholder democracy. one key financial that is worth looking at and your calls, rapid fire in tonight's edition of the lightning round is stay with cramer brap
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. market has been rallying big time all weeks specially the speculative stock but if the past year told us anything, we got to be prepared for everything and things can change on a dime. the best way you can be certain, you can with stand these potential downturns is have a well balanced portfolio and that's why we're playing, yes, am i diversified this is where you call me and tell me your top five holdings and i'll tell you if your portfolio is diversified enough. mix it up a little let's start with rachel in florida, rachel? >> hi, jim i love your show thank you for taking my call i'm also a club member my five stock picks are apple, disney, fti consulting, franco nevada and j&j am i diversified >> wow, very, very interesting and i want to thank her of
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course for being a club member, which is fantastic consultant company, let's say with some tech, franco, gold company doing well j&j drug company disney entertainment and apple, own it, don't trade it and some were saying something how they are first in everything. fantastic. i got a great one, tech, entertainment, consulting, gold and drug and i'm going to say fantastic. a lot of those are indeed names from the chart b itable trust fantastic work let's go to -- that's rachel's portfolio. let's go to trey in texas, trey? >> jim, it's trey in texas thanks for taking my call. so i got five stocks for you today. one of which i know you're not a big fan of but they are as follows.
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palantier, data dog, sweet green and wing stop. am i diversified >> wow, no first of all, palantir you're right is a contractor, defense contractor and a terrible company. okay just terrible. snow flake is frank who is an amazing guy. it's renting the cloud which i think is fantastic wing stop and sweet green are both restaurant chains so we can't do that. data dog is an excellent company. i like monogo db and data dog. data dog is a way to code better these are both tech. so we can't even have that my god, we have to throw in the sweet green had a terrible quarter. i don't know this is like do not rrheesuscite portfolio. keep data dog. it's more coding than this and cloud, sweet green and united
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health and palantir and rayathyon. that's a tourniquet trade. that thing needed to be radical beyond my pay grade. next up, a call from mandy in maryland, mandy? >> caller: hi, jim thank you for taking my call happy new year to you and your crew. >> thank you. >> a long-time fan love your show i was wondering if i'm diversified. here with my five stocks. >> all right. >> ausre, fnd, google and palo alto am i diversified thank you. >> okay. i actually like this portfolio i think it will be disturbing to some people because floor and decor is housing related but good retailers doing well. semper is one of my favorite not
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just utility but liquified natural gas. i'm a big gold fan it's coming back my way. i prefer that. google, and advertising company. this is a cybersecurity company. retailer it's utility and gold. that is perfect and thank you for the very kind comments about our staff and what you're up to. why doesn't we take another video call from brenda in north carolina, brenda >> hey, cramer, thanks for letting me be on your show today. i'm calling in today for my son stacy who is at work his top five stocks are duke, apple, proctor and gamble, ups and coke please let stacy know whether he's diversifidiversified. thank you. >> brenda, thank you for that call this is fabulous
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duke energy, one of my favorite utilities. apple fantastic. proctor and gamble reports on thursday we got the fed -- we got the -- the debt celling problem the same day we have to be careful. coca-cola some say is too much like proctor a liquid company overall consumer product and ups and i prefer fedex but this is transport, utility, this is tech this is consumer product and this is beverage and i think that's a terrific portfolio and i solute all of our players because they've all got pretty darn good portfolios except for the sweet green person whose got to do a little work like maybe tuesday morning. "mad money" is back after the break. >> announcer: coming up, cramer wants to hear from you your calls on the thunderstorthunderstorm -- thunderous lightning round, next
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it is time, the it is time for the likening round rapid fire, play and then are you ready ski daddy? time for the lightening round. i'll start with uko in michigan. >> caller: boo-yah, it's uko in michigan. >> how are you doing >> caller: good, how about you they recently bought vessels and the fupd fundamentals being go >> i don't like container ship business the rates are falling. i won't say buy that
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i can't give you heads up but i like how nice you were tim in alabama, tim? >> caller: yes, sir, jim, i am a member of the club, thanks for taking my call. >> thank you, thank you, thank you. what's up? >> caller: i learned a lot i found a company that takes profit to shareholders dividend of 5%. what can you tell me about lamr? lamar outdoor advertisement? >> unfortunately in advertising. i like everything except they're in a business that's in a serious recession so no to that but i like the fact you're a member of the club and done homework steve in colorado, steve >> caller: hey, jim. thanks for taking my call. greetings. >> of course >> caller: hey -- >> love it what's up? >> caller: i've been looking at value stock. put your money in value stocks looking at ocean shipping, pes are two to three dividends are 10 to 30%.
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>> i know. these are a femeral. they are roman candles they burn out. and then they lose people money. i've been against them ever since -- i'm not even going to pick on the one. i don't like ocean carriers. any ocean carriers it doesn't matter which one. let's go to -- that includes i'm not kidding dry bulk i have ocean carriers all week i don't like them. megan in missouri, megan >> caller: thanks for taking my call, jim. up 200% in the last year is it too late to buy trmd >> yes it's a product tanker. that's not an ocean tanker, it's a product tanker people love the tankers because they look so compelling. that moved the train left -- hey, the boat has left the station let's go to kyle in georgia, kyle >> caller: hey, jim, thanks for taking my call. >> of course
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>> caller: i've worked with a piece of technology that's called a sim, a sticky product i have a lot of confidence in the technology itself but lost a lot of money on the stock so far. plunk. should i sell it -- >> a new sheriff in town we know gary as being a mo moneymaker so we'll bet he'll pivot and make money for the company and shareholder sos we -- so betting with, not against splunk james? >> caller: first time caller member of the investment club. open for a super bowl and -- >> thank you. >> caller: my question is tsm, taijuan semi wondering what you look for before you take it for profit versus letting the stock
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run. >> reporter: . >> taijuan semi is a good company. let it run it's terrific and inexpensive. that, ladies and gentlemen, is the conclusion of the lightenin round. >> announcer: the lieghtning round is sponsored by t.d. ameritrade. coming up, viva shareholder democracy. this company giving investors a voice may surprise you next
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if you love shareholder democracy, you'll love the stock of black rock, too this morning we spoke to the ceo larry fink and he described how it's never been easier for individuals to vote on provisions or proxy fights like the disney competition people just don't take advantage of it awareness about shareholder democracy is low despite black hawk has gave people a chance to state references and you can do it if you own the stocks through an etf. you want companies that care about climate change, you can have a fund that suits that. black rock offers ways to make your voice known this is an incredible important
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and recent development unfortunately, there is a wide spread sense it is a joke and your vote doesn't matter if you're investing in the next fund and if something bad happens with the business, who cares? people do. >> sell, sell, sell. >> in drives me nuts you own the company. you can have your voice known. that's huge. and ceo larry fink has done more to champion shareholder democracy than anyone in the y year they can headache judgments for you on corporate governments, inclusion, climate risk better than anyone i know it's never been this good. too few people know it the technology improved to the point with an etf is brand-new and black rock pushed and pushed for corporate accountability does it really matter, though?
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i say yes. let's use a life living example like let's take the case of nelson the investor that wants to be on the board of disney after years of the company's mismanagement. he's engaged in a proxy fight to abort. when you look what the black rock cares about, you see corporate governments and accountability up front as the values they use to determine whether or not to recommend voting for directors or perspective directors. i think disney has shown little accountability seems the board has little oversight dramatically failing in the role as a good stewart of your capital the disney bored fits criteria of a board that's too negligent that has to end. the compensation is obscene for the amount of capital they destroyed. a vote might demonstrate disney must be held responsible for ir
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irresponsibility that includes paying for bad decisions why does this matter black rock is the second largest shareholder for disney with 115 million shares although nearly all etfs they could be on auto pilot voting with management that's what black rock does. black rock sees their role as defenders of your capital. they will make the most informed decision we want individual shareholder democracy in this country. we own disney for the charitable trust and i'll vote them against disney my vote won't mean that much at all but black rock's will. who it votes for is incredibly important. democracy anchored by informed voters is the best way for capitalism to prevail in this country and prevail it will. that's why black rock is the best at what it does no wonder larry fink proclaimed the stock is giving you a 7,000% total return since it came public in october of 1999.
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the best performer of all financials during that period. it deserves the accolades. and frankly, it just doesn't get enough of them i like to say there is always a bull market somewhere and i promise to find it just for you here on "mad money." i'm jim cramer see you next time. "american greed: biggest cons," new developments in our most shocking cases of greed. tonight, the wolf of wall street, jordan belfort, the convicted stockbroker who scammed more than $200 million from investors. you think, "oh, my gosh. this guy must be the worst guy in the world." i had a gift -- to get get up before the crowd and sell and manipulate. and i could have used it for good, or i could have used it for evil. i used it for evil. wells: i mean, i wouldn't give him my money. but there's something sort of very likable and magnetic about him. narrator: belfort turned his prison time into profit and his life of sex, drugs, and crime is a cinematic smash. i want you to deal with your problems by becoming rich!

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