i like pfizer.>> carter goals, we are just talking about it. the trade for the rangers over the top. i like that. >> l gr. >> i am with dan "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 save you some money. my job it to put this in context. what makes a good investor it helps to be smart it helps to be hardworking, to be disciplined

above all, though, you've got to be emotionally stable. i know that sounds, coming from me of all people, strange. but it's what i know you must be, and i know it better than anyone you can't make good investment decisions when you're flustered or angry or worst of all, sullen and gloomy >> the house of pain >> unfortunately this market is enough to make any gloomy including an a sedate day like today. dow lost 238 points but the mighty nasdaq only dipped 0.10%. what makes this moment so absurdly frustrating because if you understand why it's happening, you can prevent the market from driving you crazy. first, there are endless rotations in and out of groups that defy any rational explanation. it's like etf roulette where she stops, nobody knows.

when trading opened today, stocks were driven by their own fundamentals the drug company has good news, it goes higher if a broker puts out a positive piece on a health insurer, that health insurer rallies all of this is highly rational, correct? out of nowhere, we catch a rotation out of health care. suddenly everything that was going up is down merck and j&j, they just get hammered united health gets oblitobliter. i spent an hour of my life today checking out what's wrong with all of these stocks. you know what the answer is? nothing. zilch. nada there's no reason whatsoever except that the health care cohort has been down for the year since it's the end of the month, a lot of funds went to unload their losers sure enough, the three other sectors that are down today -- energy, utilities, and packaged goods. they all got hit it's what happened at the end of

a month. all these stocks were down purely because they've been down there you go that's total circular reasoning. this is the kind of idiotic action that can indeed create buying opportunities, but it's also very dangerous and very dispiriting. why, why, why is this torture happening? because of the second problem with this market that's driving me nuts. most of the time, stocks aren't trading anywhere near on their fundamentals they're trading as macro-economic pawns with long-term interest rates go up, the health care names get put through the meat grinder if you want to buy something like merck, remember that when rates tick higher, the stock is going to go lower still. when i talk about rates here, i'm really thinking of the yield on the 20 year treasury because that's what mortgage rates tend to be priced off of. the 20-year keeps going down in price and up in yield because

these long bonds are ridiculously overvalued. the owners of these bonds lose money almost every day because these bonds have meager yields versus short rates who wants the 20-year at 4.1% when you can get the two-year at 4.8% when long rates get closer, this move will stop call it collateral damage from the great exodus because idiots thought the fed would be cutting -- literally they thought they'd be cutting rates, not raising them until the end of the year. the industry that's most sensitive to the bond market is tech tech is full of growth stocks. but they're being ripped around by four or five basis points that is just insane. today bond yields were higher at the opening, so tech stocks were almost all down. then we got some weaker economic data, relatively unimportant but indeed weaker, and bond yields

went lower so tech made a comeback because bonds had a benign day, tech did too, led by the semiconductors i find this kind of action repugnant because it has nothing to do with what's really happening at individual companies. some of that is because of the increasing etf-ization of the market rates tick down, and they do the opposite no humans involved there's really no relation to a company's health on a given day or hour or minute to all this stuff. it doesn't matter, though. as i said on today's home stretch, it's totally maddening. while the macro situation does matter to the whole market, it shouldn't be the only thing that matters. it just feels like that all the time that's at the heart of the frustration we all feel. it is just driving us crazy. so we have these meaningless rota

rotations. that's not all we're also afflicted by a huge cohort of know-nothings. this morning, target reported what i thought was a very good quarter with inventories clean as a whistle that's the key metric for me yet target initially saw its stock sell off big in pre-market trading, brought down by -- i don't know, bozos, chowder heads? it winds its way down about a dollar, $2, $3, $4, and then works its way back up to about flat then i go on air and explain that the inventories are what matters. they're 3% below what they've been i said, that's all you need to know, that they are lean boom, the stock finishes up a dollar, but at one point after i pointed out the inventory, the stock rallied four points.

wor workday. the relevant metric here is how much financial business they're doing. workday is software war human resources and software for financial planning they already own that h.r. world but what was encouraging was the growth of the financial portal it was credibly strong anyone who follows workday knows that is what matter. i mentioned the financial strength on air and the stock falls four points immediately. how is this possible how could the markets be this dumb yes, and it's making me lose my mind or at least what's left of it so what makes the stocks start acting more rationally again all right. well, let's go into it first, we need more players, more fund managers who are seasoned, more fund managers who know what they are doing and are not just kind of hanging out trying to be closet index funds.

second, we need to realize that most, if not all, the moves on your screen are driven by something other than company news a lot of it's the macro extremely sherm market mechanics or artificial intelligence that lacks intelligence third, we got to accept the initial reaction to earnings is very often wrong yes, this is totally exasperating, but you can't let it get to you. you can't let exhaustion or frustration get in your way. the goal right now is simple you got to outlast the robots and trade off the algorithms you've got to ignore the idiots who haven't done any homework. and you've got to have confidence in yourself and accept the short-term rotations might give you the buying opportunities you've been waiting for. the bottom line, don't let this market drive you crazy like it's doing everybody else put your emotions to the side and try to make reasonable decisions about individual stocks without letting the irrational action infuriate you. if you can't do that, please go by an index fund otherwise, you will indeed get

blown out by this market's indeed lunatic behavior. shan in pennsylvania, shan. >> how, jimmy. how are you doing? >> i'm doing great how about you? >> jim, i was wondering what your thoughts on paypal are at its current price. >> i still think paypal can go lower. i think the company is decelerating in terms of its growth if you want to be something in fintech, i prefer square i prefer real banks line jpmorgan could be a trillion dollar bank out 12 years ray in florida say ray. >> booyah, jimmy >> holy cow. >> first time killer. >> thank you >> i am looking to buy some stock like a household consumable and i'm really eyeballing pepsi, or can you think of a better one? >> no. pepsi's dynamite i'm not going to ever contradict someone who wants to be in

pepsi. some people feel it's too loved. i don't think there's such a thing. it's a really good company don't let this market drive you crazy like it is everybody else. put your emotions to the side. try to make reasonable decisions about individual stocks. on mad tonight, dutch bros chilled after earnings, are investors getting a buying opportunity? i've got the latest from the ceo. then chevron had its investor day earlier highlighting a host of the metrics and enbridge has a 7% yield amid a tough oil and gas backdrop is that sustainable, that dividend, or maybe investors should be concerned. you won't want to miss this exclusive of mine because i've got to tell you, i think this one's pretty attractive. so stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer, #madtweets

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this is a treat. >> reporter: it's been almost air year and a half since dutch bros became public and this oregon based coffee chain has had a wild ride. but the wild ride hasn't stopped. dutch bros is now up 18% year-to-date thanks to an incredibly positive pre-announcement in early january. however, when the company reported fourth quarter results last tuesday, the earnings came in weaker than recent expectations although that's just really -- i can contest

that it didn't help that their four-year ebbity ta. could this be a good entry point or do we need to be more cautious let's dig deeper with joth ricci, who is here the ceo of dutch bros. mr. ricci, welcome back to "mad money." >> thank you, jim. >> i want to clear up something very quickly. >> yes. >> i didn't think there was any really change from the pre-announcement i think everything is on course, and you can tell me if i'm too bullish right now. but i thought there was nothing that should have driven the stock down. >> i would agree with that we don't have any control over that. >> right. >> i think our announcement was solid. i think from what we pre-announced in january to where we landed last week, i think the story is strong. the story is great, and there wasn't really anything that was significantly off. >> that's what i thought. >> yeah. >> not that i didn't mind that the stock came in so big so people could buy it more cheaply, but what is substantive that you saw cold early.

you saw cold coming. what is the percentage of cold that you now serve >> for the year -- for the full year of '22, 83% was cold. 83% of our drinks were cold. it peaked in the third quarter i believe in august, we were at 92% cold this is cold everything. this is cold espresso. this is cold lattes. this is cold energy drinks this is cold tea i mean name it very little hot beverages. and the trend continues. i think in the last few years, we've seen a 5% to 10% swing even of growth even in the cold trend. >> six years ago, when my daughter and i would visit every single one you had in ashland, oregon, it was all hot how did it happen that this country changed so quickly >> you know, it's a good question i mean i think that cold has been happening in the third wave coffee channel for a long time. >> okay. >> so you have emerging drinks

that have been happening i think starbucks has been playing around with cold for a long time. i think at some point, the flip switched, and maybe it was -- had something to do with cold brew maybe it had something to do with kind of all the packaged good business that came out cold i think there's just been -- there are a lot of factors related to why that moved. >> now, you are expanding rapidly in texas you call it fortressing. >> yeah. >> i, my self, am growing to fast for that target. >> i think honestly all the indicators are looking great so even if you look at 100 shops in texas over the last two years, we haven't -- our -- listen, our hiring rate has stayed true. we have a 72% turnover rate, which is still very low. it actually came down in the

fourth quarter we're hiring about 1 out of every 19 applicants that -- >> which is very different from when i saw you the first time where you had problems with job hoppers. >> but now we're settled in. we self-imposed a minimum wage in federal minimum wage states so we're investing now in labor, investing in employment for all of our people across all our markets. >> people keep asking me when will you be in the tri-state area i keep saying they'll be in the tri-state area when they're ready. >> when we're ready, and not any time before that. >> there's no reason to think there couldn't be 400 stores in texas alone. am i off base given san antonio and dallas haven't been hit yet? >> so san antonio, we put 14 locations in san antonio in 12 months. >> how many more could you use >> i think a lot. >> because you have lines. >> we have lines and fortressing and we're trying to balance out market share across every market we're in because in a funny way, we don't want to be too busy. >> right. >> our lines are long.

the number one reason why people don't come to dutch bros is because the line's too long. >> yes. >> so we're managing our volume across all of our locations and all of our markets to be able to do that. you put 14 shops in san antonio in a year, you're building for a long-term strategy that builds a long term market share. >> you talked a lot about the loyalty program. i thought it was overemphasized versus taste. >> i don't think we can emphasize our loyalty program enough. >> really? >> in fact, year three into it, we have an almost 65% tender going through our loyalty. we have over 3 million users now in a 90-day active we changed our rewards program we took our points from five to three. >> explain to people what that is who don't have your point system. >> it's basically for the value of the dollar, we basically -- you accrue points for every dollar that you spent. >> okay. >> we did not change the rate of what people already had in their

bank, and our rewards program, the more that we build that, the more we do one to one markets, the more that we can localize our approach, the more that we can work on traffic-building opportunities, and honestly it's a much better return on investment in that approach versus a macro approach. >> okay. one of the things i think was more important than the actual turnover that you mentioned, the 70, your managers don't turn over much at all. >> no. >> that is the secret sauce of what you're trying to do here, right? >> we put operators into new markets. we have -- we've had zero turnover basically in our operator ranks we have less than 10% of our management ranks these people are the key to driving all of the things we do. >> next big markets? >> well, big actually we're going to kentucky and alabama this year. those will be the two new markets we'll go into. >> how do you know that's what they'll want how do you know they're going to want 85% cold? >> oh, i think -- i am super

excited to take dutch bros to those markets. i think they're going to love it tennessee has been a great market for us. we see the expansion of that we've seen the development of our customers across all the states we've gone into i think people are going to love dutch bros. >> i'm partial to oregon other than nike and you guys, it's really pretty much it, right? >> i think the two best consumer brands in oregon are a swoosh and a windmill. >> very good i like that. that's joth ricci, ceo of dutch bros, and yes i'm excited about the company because it's very rare you get a regional or national skoir that hasn't been picked over yet, and that's this one. "mad money" is back after the break. >> announcer: coming up, should you get revved for chevron don't stop your homework after the company investor day cramer's got the ceo, next

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what do we do with the oil stocks now that wall street is terrified of a fed-mandated recession? consider chevron in late january, chevron announced a $75 billion buyback. then a couple days later, the company hit us with a mixed quarter coupled with a four-year production forecast that some people thought was light since then, the stock's down more than 14%. today chevron hosted its annual investor meeting where management reaffirmed its long-term financial targets. even though the price of crude also rallied nicely, the stock couldn't catch a break could this be a buying opportunity, or do we need to exercise some caution? let's check in with mike wirth, the chairman and ceo of chevron. mr. wirth, welcome back to "mad money." >> thanks, jim it's good to be here. >> i think there's a sense that things are crazy at chevron, up and down i look at it as completely

consistent in an up and down business is that the message you conveyed today? >> it's exactly the message we conveyed today, jim. we're growing supply we're lowerering carbon intensity. last yeah u.s. oil production was the highest it's ever been in our 143-year history. we've reduced carbon intensity 20%, and we're the second largest based biodiesel producer in the country we've increased our dividend and increased share buybacks, so we're doing it all. >> let's discuss the notion of something that warren buffett said we are told that all repurchases are harmful to shareholders. you are listening to either an economic illiterate or a silver tongued demagogue. what do you say? >> mr. buffett has a way of

putting things we're buying back shares consistent with our track record over a long period of time we've bought shares back for 15 of the last 19 years we've bought shares back during the pandemic in 2020 and 2021. we do it kiconsistently we invest through the cycles because we're in a cyclical industry. >> a long-term cyclical industry the white house says that what you're really about or what oil is really about is plowing windfall profits into the possibilities of executives and shareholders instead of using them to boost supply are you holding back boosting supply and lining your pockets instead? >> i told you that we had our highest production ever in the united states last year. we laid out today a plan to grow our permian from 700,000 barrels a day last year to 1 million barrels a day by 2025 and

1.2 million barrels a day later in this decade we tend to grow at a compound annual growth rate of 3% per year over the next five years. we're growing faster than the market is, and we can do that and reward our shareholders at the same time. >> should we care it doesn't add up to the models the analysts are looking for? >> it's a volatile business. the models is difficult for the analysts to do we try to provide enough information, but it's difficult to predict with these volatile markets how companies may perform through some of the volatility. >> okay. so let's think about the long-term and where you are. talk about the countries and where you're investing in. >> well, we've got multiple growth assets. i've talked about the permian, so i'll leave that we're also investing in the deep water gulf of mexico to take that from 200,000 barrels a day today to 300,000 barrels a day in just a few years with projects starting up this year and the year after that. we're investigating to grow in kazakhstan we're investing to grow in

argentina. we're investing to grow in the eastern mediterranean, offshore israel and egypt so we've got assets around the world, and they'll all contribute to supplies that are very much needed in a world that is struggling right now with the question of energy security. >> let's talk about decarbonization for a second you announced a major bump last time i saw you in the amount of money you're spending really to decarbonize. but the heat hasn't changed from washington against what chevron does what do you have to do -- i mean sometimes my friends who lik the oil business say, maybe they have to declare themselves anti-oil there's no getting around who you are. you're chevron i mean what do you do? >> well, we intend to lead in both traditional energy and in new energy i mentioned we're the second largest biobased diesel producer we've reduced our carbon intensity. and our methane intensity is 85% lower than the industry average because of actions that we've taken. we will continue to build a business that will add energy

supplies and new energy solutions but also meet the needs of the world what we've seen over the last year is that reliable supply matters. affordable supply matters. and as we talk about the energy system evolving, and i'd like to talk about it evolving rather than transitioning because it will take time we also need to work towards an orderly transition that doesn't create chaos in economies around the world, and that means we need to meet the needs today even as we're building a system that can evolve to a lower carbon state in the future. >> we saw a very strong nation, germany, get lucky because of the weather. we, on the other hand, are really, i think, the country that may be the best off of any in the world how did we get there given the fact we were importing huge amount of oil as recently as 12 years ago? >> well, we've got a tremendous natural endowment of resources of all types in this country it's not just energy resources, but it's other resources we've got an economy that is

second to none in terms of its vibrance, its innovation, the competition, the rule of law and we've got an energy industry in this country that is the envy of the rest of the world, that continues to innovate with technology and find new ways to bring energy supplies to market. we're one of the world's largest producers of wind and solar. we're the world's largest producer of ethanol. >> do you meet with the white house? do you meet with the president do you talk about this >> we engage with the administration -- >> the president >> i've not had the opportunity to meet with the president but we speak to people on his team look, we work towards what we think is a balanced and pragmatic approach to energy policy, which recognizes the importance of affordable energy, of reliable and secure energy, and of ever cleaner energy. >> is the biggest threat to your company tesla or the government? >> well, gosh, look, it's an enormous market. innovations like electric

vehicles have -- they solve needs for some customers, but they don't solve the needs for all customers. the government has a responsibility to try to engage in balanced policy i'm not sure i look at either one of them as threats as much as they're realities in the energy system. we're a part of the energy system, and we need to work with all the different stakeholders. >> when you meet with your board, do you say, listen, we could be out of business by 2030, by 2040, by 2050 do you talk like it's an existential issue? >> there are not credible scenarios that would takes need for oil and gas down to nothing by 2030 or 2040 or 2050. we talk about how we're going to grow our business in both traditional and new energies and deliver strong financial performance so that our shareholders are rewarded and we trade value for shareholders in whatever energy future we experience. >> how do you weigh a buyback,ui

could go below 50. do you suspend the buyback or say we're going to come in heavy? >> absolutely continue the buyback through the cycle. we're not counter cyclical we've got to buy back shares through the cycle. it's what we've done we still have the capacity to buy back $10 billion a year in shares we have virtually no net debt at this point we've got a lot of debt capacity we've got a lot of cash. we can use that to sustain the buyback even if free cash flow won't support it we can do that off the strength of our balance sheet so we've designed the company to reward shareholders through the cycle becauses you said, it's a long cycle, commodity business. >> you know where i stand so let me ask youheast question if the levy a windfalls profits tax against you, will they give

you money when oil drops below 50 >> history would say that that's unlikely, jim. >> i think we should leave it at that that's mike wirth, chairman and ceo of chevron "mad money" is back after the break. >> announcer: coming up, does a sell-off in this stock spell opportunity? we'll cross that bridge when we come to it, next

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we've had wild action in oil and gas prices over the last few years and a lot of it comes down

to log gisistics we have a carbon capture and renewableenergy kicker the government isn't friendly and doesn't help oil and gas are down from big highs. some called the safety of dividend into question, not me, though we're taking calls with great evil, old friend of the show the ceo of enbridge investor got a read on the situation. welcome back to "mad money." >> great to see you, jim thanks for having me. >> it's been way too long. you had a great run in specs and fantastic and you're at enbridge could you give us a high level sense of what you want to talk about? >> well, for sure. i mean, the number one thing will make sure that investors know that we are the first choice for energy delivery in north america for customers, for investors, for the employees and

increasingly and you mentioned it for even for governments who are trying to figure out this really unique energy tril etrils i'm excited about tomorrow and i think you'll see us announce a few things and give a longer term view of the growth prospects. >> is there a chance you can talk about how you might be able to extend crude exports corpus christi is important to you. we're out of pipelines if you added some we could take the oil we use here and export it could enbride do that? >> we picked up ingle side export facility incorpus christi as you point out that exports 30% of the oil that leaves the country today and we're really building a really unique super system there so, you know, we got customers that want to take our oil to corpus

christie and then ship it offshore obviously, our main line pipeline brings oil down from canada and fueling the refineries and pat two and pat three. an exciting time on the front. let's not forget natural gas in that location. we're connected to four lng facilities so whether it's exports of oil or exports of lng, that's a critical role that we play hence, that's why the name is energy bridge. we're bridging to what people need and want. >> could you tell people how much energy you move in our country? i think people would be shocked about the percentage of what enbridge brings. >> you actually mentioned, you know, we are canadian located but we're a big player in the united states and increasingly we're actually in five g 7 countries but in north america, we move about 20 to 25% of the oil and natural gas that moves each and every day in north

america. that's a critical element. we also run the largest by volume natural gas utility we actually serve directly or indirectly about 15 million folks in the ontario region. so it's a really critical player on the energy infrastructure side and let's not forget, we've been a big player on the renewable side, as well, too jim. for a better part of two decades, we've been in the business and now we're a top ten developer of on shore renewable's. so whether it's liquids, whether it's gas, whether it's renewable's and increasingly as we look at things like hydrogen and ammonia and carbon capture, we're going to be a player in that regard, too. >> i want people to understand we talked about the export market but isn't it true, greg, that if all the pipelines that we want to bring to the northeast were able to do it, that we would be completely energy independent in this con continent including oil imported to the new england area with

natural gas? this is actually a man-made problem, not a natural problem. >> yeah, you know, it's, use know, we've had those assets into new england for a very long time and new england often prays s -- pays the highest prices for natural gas in the world that's actually ridiculous for those citizens, there right? through in fault of their own they find themselves disadvantaged solely because of infrastructure if you're a red sox fan, you shouldn't be too happy they get cheaper gas than you in new england and make a difference. >> let's talk about exported lng. if it had been cold in europe, what could they have done to make it warmer using north american natural gas >> several things. if we could get lng off the west coast of canada, before it was

legal to export off the united states we tried to do that would allow more cargo from the gulf coast, the largest exporter of lng more cargoes would have went to europe and present problems our poor friends and allies in europe have had to deal with and, you know, we've had folks, the chancellor of germany and prime minister of japan come to north america and ask for natural gas and we should respond to those calls from our allies, right? we've got the capability as you know, we've got the resources. we definitely have the export capability we need a little more help on the getting pipelines into place so that we can feed into the export facilities. it's possible and frankly, the world is calling us to do it we should respond. >> i completely agree. al monaco, a great friend of the show very proud of the amazing record you have boosting your dividend sometimes i wonder whether the

leverage, 4.7 times you're talking about the lower half of debt to ebita range, that seems high is there any way at a certain point you can pay down debt? you add a lot of debt at the same time increased the dividend because the stock hasn't gone up as much as it should because people are worried about the 4.7 number. >> you know, uniquely, we're largely the pipelines are regular ste sod you have to cara certain amount some people misunderstood. since 2017 we've gone from north of six to as you point out, subfive and you know what? we've increased the dividend for over two decades every year. we'll continue to do so. we have more than enough to pay that dividend and invest about $5 or $6 billion of additional capital with self-generated equity that's a really unique position for investors. >> that's why i've been recommending your stock for ages it's too inexpensive thank you. welcome back who is now ceo of enbridge

thank you, sir. >> great thank you, jim. "mad money" is back after the break. >> coming up, cramer takes your calls and the sky is the limit it's a fast fire lightning round. next at morgan stanley, old school hard work meets bold, new thinking, ♪ to help you see untapped possibilities and relentlessly work with you to make them real. ♪ do you ever worry we'll live forever? no, it's literally never crossed my mind.

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>> caller: thanks, jim, for taking my call i wanted to talk to you about eli lilly in my ira. >> stock goes down every day it's really starting to get on my nerves. i've got to tell you, i still believe it will be the biggest selling drug of all time nobody is listening to me. i don't care we'll buy more at 300 for the charitable trust chris in illinois, chris >> caller: jim, boo-yah. >> boo-yah >> caller: yes, sir. hey, i'm thinking of adding abbott labs to my kids' portfolios i think they've done a nice job diversifying ten years post split. >> i think you got horse sense oh -- okay see here is the problem with abbott right now, people are dealing with a pose covid hangover because they had those tests at home but i think they may have new at home tests that will blow you away and i think they've got some very, very good anti diabetes libre, smaller than

dexcom i like the stock dave in massachusetts, dave? >> caller: hi, jim. >> dave. >> caller: i'd like to get your opinion on ag analog devices long term. >> it had the best quarter people don't understand. it had the best quarter other than nvidia of the semi conductors that's why i like industrial let's go to dennis in oregon, dennis >> caller: hi, jim thanks for taking my call. >> of course. >> caller: i'm a big fan of dr. albert ceo of pfizer and i was stunned yesterday with the announcement that pfizer is considering a 30 plus billion purchase of s cgen. >> yes. >> caller: it seems expensive and i'm really concerned about the return on capitol that and that kind of purchase. what do you think? >> i think you have to be concerned, i thought they would get it for $10 million

here is the problem. it shows pfizer has a weaker pipeline than we thought cgen has incredible anti tumor formulations but it did make -- it concerned me, too you're not getting paid right now to own pfizer until we see how much they're going to pay. let's go to lenny in new york, lenny? >> caller: hi, jim, great show you're opinion on adma biological. >> what is rare about this, it's one of the few that's defied companies losing money the stock keeps going higher i think it is a great, not good, but great spac how about bashar in michigan, bashar >> caller: how are you doing, jim? >> what's going on >> caller: question for you. my question is regarding battery. i've had it for six months and the price has definitely gone down. >> yeah, you know, here is the problem. i do love the idea of ev and

batteries but we're not recommending stocks losing money unless it's a biotech with a very promising pipeline and that is not that stock. let's go to mark in new york, mark >> caller: boo-yah, jim. thank you so much for taking my call. >> my pleasure. >> caller: jim, you are so entertaining and informative you're the best teacher and make it fun thank you, thank you, thank you. >> not handsome. i never heard hand some never heard hand some, hand some once, handsome twice mark in new york what should we do? yeah, you got me. >> caller: the last time you talked about the stock, you said what the heck is it doing below 20 now it's up 16 is barrett gold a great -- >> yes i've been wrong. i've been wrong. tell you why i've been wrong, the price of gold is very bad, not because barrack is bad bar rrack is a good company so

recommend gld. that, ladies and gentlemen is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by t.d. ameritrade td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back.

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or live chat at calhope.org today. i come to praise salesforce ceo mark c benioff, not to bury him. he checked out an executive that is missing the mark on so many

levels salesforce missed the quarter when it reports tomorrow i have no idea will it show a slowdown to hurt the core relations business? most likely. you can't outrun it. has benioff taken no action with the downturn that's a false narrative meat ax layoffs and buying back stock with a ton of growth what has benioff done? everything firing 10% of the work force like what the french army did in world war i. he's in there buying he's retired two outstanding but ageing board members and sandy robertson at one time the dean of silicon valley investors. i know him because he helped bring thestreet.com public mark got rid of them both and put on absolute board members including one nominated by one

of the firms like sharks maybe someone who is genuine tech knowledge is so powerful that only to be exceeded by how tough that person is make them lead director. great idea we all know that mark is a big personality and should be paying matthew masahide celderry mccony $10 million. i've had dinner with him don't fall for his zoned ability to play games. he's a smart guy great writer and great thinker i mean genuinely smart, not just hollywood smart. better than the thinkers hired to come up with marketing ideas. did he hire too many people since 30,000 new workers of course he did everyone else made the same mistake. where is the carpet about alphabet or amazon did he have a wellness retreat indeed again, he's not alone. did he have an in house bar?

not long ago goldman sachs had a barber and sushi bar did he build the towers? yeah there is no way he could have known we were headed into a pandemic to create a work home from the last of us mentality. here is what i know. i had benioff on the show when a ton of companies in his area went under his stock was at $8. when the world was betting against him he would transform salesforce into the dominant enterprise company of our time and have the fastest software company to hit 1 billion and 5 and then 10 and 25 total called shots he blew all of those targets away i think he'll blow away the $30 billion target reporting earnings tomorrow to give you 17% growth very large company 17% growth sure, the stock went too high. it was all at 312. maybe an absurd price. now back to 163. better price still up huge from 2008 when he

made the called shot finally a tech stock that didn't have a similar trajectory. benioff not perfect. along the way he may have over paid for acquisitions but knew not to buy twitter i don't see a hort of activists trying to tear elon musk apart he established a language on a preponderance on college applications ask how they are dog after bringing in salesforce, i did it twice 55% lifts on average feel free to make fun of pitch man matthew mccancelcconaughey s a hack, what are we? make jokes how benioff can't keep a co-ceo as the last one retired. can't blame the guy for retiring after me eshe established himse one of the toughest executives off all time by beating elon musk i wish there were more benioffs not just because he's funny and

kind but bankable as all getout. remember, we are about making money here, not friends. and historically, it's been a real bad idea to bet against mark benoff as he is, yes, indeed, someone i am broad to call a friend. i like to say 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 investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪♪ first into the shark tank is aaron krause, who believes his product will make every day cleaning easier. hi, sharks. i'm aaron krause from philadelphia, and i'm known as the daddy of the scrub daddy, the cutest but most high tech scrubbing tool in the world.