i'm watching last call." >> watch "last call" tonight >> hca, mel. it's breaking out. "mad money" 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 is not just to entertain but teach you. call me out 800-743-cnbc or tweet me @jimcramer. how cthe conventional wisdom be

wrong? the worst stocks, not anymore, though somehow they've become the two winners in this crazy moment how is that possible because these are not your father's cyclical. that's why if you're old enough to be a father or grandfather, you better spend some time figuring out the new reality or else you'll keep missing the moves. notice, i said keep. because the hottest stocks now used to be the coldest stocks back at this point in the cycle when i was younger although, the stocks took a breather today the dow dipping 58 points, the s&p inching up 4.1% and nasdaq gaining 4.1% this came from a much lower level. nice snap back i spent a lot of time thinking about this issue of these stocks that used to be bad that are now good on my fishing trip off the coast of panama. got a lot of time -- i've been waiting for the tuna to bite

i waited for the most confounding stocks in the market the cyclical smokestack stocks that typically do well when the economy is improving, not deteriorating. right now it's definitely deteriorating. we're getting roasted by two conver conversations. jay powell in the house and senate and we'll prep for friday's barbecue? why, a portfolio barbecue will report and the inflation cools that much from january when it's a scorcher the fed will bust us with a 25 basis point or maybe 50-basis point rate hike. normally, i endure the chatter and try to think against it as i have to lean toward it because it controls action not so much on my fishing trip, though don't worry, it was all catch and release. down in panama, i thought about analog analogies. you can see the current moments, not unlike september of 1981 the last time the yield curve had the same shape, meaning the relationship between short-term

rates and long term rates was similar to now that was a terrible time because it was about to go into a nasty recession but i remember one of the best times to buy stocks differing from a recession investing. okay i made a ton of money personally right then it didn't matter about the recession. it was the beginning of a bull market that lasted 19 years. which brings me back to the cyclical dilemma you can argue they're doing it right now because maybe wall street is looking through a recession at the fed subsequent rate cuts. what you have a series of long bond buyers enjoying a roaring intellectual vacation. they can't be anything but chum for the rest of us no, it ain't the yield curve that's driving the cyclical. in reality, what's driving the cyclical is why they're working is because they're not cyclical anymore. i drew up a list of what i thought were a dirty dozen bunch of companies that used to be tortured by rate companies but

doing well in the stock market maybe not dirty as they used to be and public but i know they existed and are much dirtier form when i was younger. so let's parse this old dirty dozen worth of companies that i would have shorted the heck out of. >> the house of pain. >> in my old hedge fund when i saw the same kind of action the fed was enduring, the yield curve and how a fed chief talked about raising interest rates, more aggressively to cool inflation. let's start with two old cleveland base metal banders, eat eaten and parker i bet against eaten because it made connectors and gauges the business is getting killed right about now and you expect the stock to look like this not the way it is now sloping up and tumbling down and go to the web site to see what changed

the eaten of today is about sustainable power, managing the power and vehicle elect fa case and building efficient vehicles that travel faster, higher and better you're talking about hydraulic power, something we need a lot less of going into recession but go to the website and what you find is these days parker is about clean energy for sustainable future and the world's smallest electric tractor. that's a bold engine they help you comply with environmental regulations. three textbook cyclical. i notice the make of dirty road side engines you seen them too. it's about reducing your company's carbon footprint and increase industrial productivity, what you need if you're a manufacturer worried about a recession. for coummins a dirty old truck

maker, no. electric vehicle zero emissions. like this very morning jennifer from squawk on the street is believable and profitable. wow, cummings. i thought caterpillar's website has to be talking about the company being a leader in earth moving equipment no cat is urging you to go inside the mind of a caterpillar scientist with a thinking machine attitude the data talks, catch phrase i knew dover once as a company that made a bunch of things out of valves and gauges no totally wrong the new dover is about clean energy knuckle head plays with events and heaters and boilers, carrier and train. i could have been more wrong companies that get you to be

able to meet the difficult environmental regulations and the fight against global warming because heating and air conditioning can be huge greenhouse gas generators. the old age fact system rival the engines. packlar. i go to the website and what's the lead battery powered trucks nobody wants to know as anything they used to excel at. another hvac company anything but hvac they're quote powerful, impactful, sustainability, respectful, safety and security end quote. nothing more paramount than sustainability and safety never takes a vacation nor does the creation of safety regulations, talking about a sec ular growth story. they ran out of equipment for every industrial instruction application you can imagine the collapse of a recession. no the website says united rentals is your partner for a safe

productive and sustainable work site again, there is never an effort to lesson safety rules, not even china. productive that means the anti way. sustainable? managers can get away with buying the stock next, there is rockwall. pure play automation of factories. sure, but also a quote global leader in digital transformation end quote. i never would have known if i hadn't checked the clean dozen? is it a giant kinard and a way to get the esg crowd to bite actually, no it isn't i think there are many parts of these businesses that indeed look like the old smokestack companies from my generation but for the most part, the transformation is real and more important for you, "mad money" viewers, very profitable. these companies figure out how to take control of their destiny rather than bounce around the fed or the yield curve or macro

we talk about on air they decide the world is headed for decarbonization and who knows more about that than the one time biggest pollution out there? is the bottom line on wall street what matters are numbers and there is so much work for those companies that help eliminate the waste, be sustainable, make things safer, less zero carbon, digitize that these stocks are buys, not sells, even the slowing economy. i never would have seen this coming but saving the planet has become a reliable business than just spoiling it and a lot more lucrative, too let's go to langston in texas, lan langston. >> caller: boo-yah, jim, thanks for having me on the show. you really help me increase the profitability of my portfolio. >> then i did good thank you, sir how can i help >> caller: hanse brands, hbi the stock fell out of bed and rolled around on the floor but seems to have stabilized since the board added mark urban

is this a good opportunity to buy the dip and go long? >> think about it like this. let's look at the balance sheet. the debt side, let's look at the balance sheet. the debt side is not great way too much debt. i have to say take a pass on hanes brands sunny in illinois, sunny. >> caller: big investment club and get rich. >> you're a good man >> caller: you're a good man thanks for educating us and teaching us not to panic when the bid is low. >> that's what keeps happening we got to stay away from that. how can i help >> caller: i'm very interested in the e.v. market and i know tesla is a dominant player which is why i like this next company run by the brilliant peter that designed the tesla model s and backed by the saudis that own 60% of the company do you think lucid mow tors can penetrate the target and be an

mna by ford or gm that wants a stronger footprint >> they have -- they, too, they have a lot of debt, sir. they don't have much in -- they are losing portions. they probably need money so i think the answer is that a ford or gm is unlikely to give them the money they're more likely to view them as a company to put out of business or disrupt than a company they think is worth investing in i thank you for the kind comments about the club. look, saving the planet has become a much more reliable business than disspoiling it and a lot more profitable, too so the stocks instead of going like that are actually going like this on "mad money" tonight, crowd strike jumped higher after earnings so has the cybersecurity found what it takes to defend itself against the bears on wall street i'm talking to the ceo and former chairman and ceo of ibm is out with a book called "good power" and i'm going straight to the source to learn inspiration for the book and her tenure at ibm and what may be next and

cnbc is launching last call with my friend brian sullivan at 7:00 p.m. and i'm finding out more about the new installment with that new host brian who i'm so thrilled for >> 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 800-743-cnbc misso miss something head to madmoney.cnbc.com.

what do you do with fast growing tech companies putting

up fantastic numbers and the fed putting up the inflation take crowd strike, the cloud native cybersecurity from the likes that became public they racked up huge gains from 2021 and plunged lower by the time it bottomed this january it lost 69% of the value. since then the stock made a comeback from 92 just under 129 in roughly two months. and last night crowd strike reported a magnificent quarter beating expectations on every key line, very strong guidance for both the current quarter and full year. management sounds incredibly confident about the future tremendous track record. reporting 15 times since becoming public and never missed sales earnings estimates but a tricky environment for fast growing security cyber outfit. what is it this time when the fed is talking tough, what does it mean and will it hurt their future let's check in with the co-founder and ceo of crowd strike a better read on the situation,

mr. curtis, welcome back to "mad money." >> great to be here with you, jim. >> george shs y, you acknowledgo some degree there is elongated cycles, you used the word but i can't detect any slowdown whatsoever if anything, this is an acceleration toward a more complete offering you have. >> i think when you look at the macro environment, we try to get in front this quarter and really focus on selling the value to customers and, you know, when you think about customers and security, it's really hard to put critical security spend on pause and pause it indefinitely. we saw a great q 4 we saw a great january and i think, you know, organizations are really understanding that security is critical to saving money, keeping their cost down and obviously keeping them safe. >> you make a point say for instance microsoft a lot of companies use by default

you call it a low cost good enough promise in an environment where good enough isn't good enough, is it? >> well, it isn't. you have to realize that microsoft technology is still signature based, just yesterday they had six signature updates there is a reason why crowd strike was started because it has a much different model it's an a.i. driven model and don't have to update our technology every day to keep up with the threat. it can predict whether something is good or bad and means a lot in keeping customers safe and when we think about microsoft itself, we have many customers that may be have microsoft technology but they still layer crowd strike on top of existing defender technology to provide an additional level of security and that's what is important, keeping customers safe and stopping the breaches, which is why i started the company. >> the only thing that i saw that related to the fed at all in this call to be honest is that your cfo said you took opportunities you saw in the labor market people laying off good people

for you, right >> well, what we talked about is we did some tremendous hiring but there is a tremendous labor pool out there and we want to get the best candidates for crowd strike and still investing in our business when you look at the sales efficiency number, 1.1 on a magic number basis. this incredibly efficient business and we're not going to let up in making sure we can capture this tremendous market in front of us and what does that mean? it means tremendous free cash know generation. a record free cash flow of over 209 million at 33% operating cash flow margin so we're going to invest strategically where we need to but be balanced 0 p on a head c. >> are you willing the institutions aren't looking at gap profitability or see through that and understand free cash flow is the best way to look at your company

>> i think free cash flow is the best proxy you have to look at a couple different things we have only been public three years, number one, right you have to look at our business we're not a box company, right we're not a perpetual license company. it's revenue which is the most valuable kind of revenue and that takes time to ramp and when you actually look at our non-gap numbers, right, we take out stock based compensation, it really -- that's what it's a function of and as an emerging company, we continue to make sure we attract and retain the best people and that will moderate over time so free cash flow i think is the best proxy to how healthy our business is and at 33%, we're in rarefied air. >> so i keep seeing these same companies and i know propelling the growth, you talk about multiple point products in there, micro is in there i mean, why are these companies -- why is anyone using these companies? >> well, it's a huge market and this is the great part about our

of ti opportunity. we're number one in market share at 17.7% it a fraction of the overall market and over time, security is really become a fragmented market because we're taking a platform approach, literally the salesforce of security as i say, this gives us the ability over time to consolidate the spend. we're consolidating agents, reducing complexity and giving a better outcome, which is stopping breaches. >> some people criticize me for bu buying palo alto and i know crowd strike to me, it's not palo alto versus crowd strike but the huge incumbent group that has to go because they're costing a fortune not doing the job and so much business in the crowd there is room for everybody. >> well, it's a big market and what is important to realize in security, jim, security technologies parallel the slope of the technology curve. meaning azs technology gets more

sophisticated you need products more specialized to protect against technology innovations we protect a certain subset of the market and point security, data, cloud security, palo alto obviously has a huge fire wall business and there are many security companies out there we need to provide the best platform for customers to make the best choice to put pieces together and focus on the best of read platforms that are out there and we're certainly one of them. >> finally, i thought it was interesting that you teamed up with dell. i mean, dell is buying vmwear at the same time is carbon black beating it one point in your conference beat carbon but this dell could be significant because they're into a lot of different shops. >> well, yes, we had a relationship early on with dell and carbon relationship that was put on pause

now that that relationship changed, we're excited to be back with dell they seen the demand for managed services and a device with a service offering there is many markets including being shipped on boxes for business customers and even having adele rep get compensated on selling crowd strike subscription the early days for us were incredibly excited about partnering with them and i think it could be a meaningful part of our business in the future years. >> yeah, i know you would not have mentioned that because you're not for draw and not for show it going to be a meaningful deal i want to thank you co-founder and president and ceo of crowd strike that delivered one more great quarter. great to have you on the show, sir. >> great, thank you so much. jim. >> "mad money" is back after the break. >> announcer: coming up, where is she now the former ceo of ibm joins crimer with the latest on her fulfilling second act, next.

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as a society we tend toi idolize power how it gets used the former chair and ceo of ibm that come out with a book good power meaning positive change in our lives there is so much in this book. the only female ceo in ibm's history and made the company to something that could make it thrive during this period. she did a ton of things to uplift others, something that continues to her charitable work and organizations like 110 that aims to close the opportunity gap for black talent in america and our champion of skills first

hiring, meaning hiring on job skills, not pedigree i love that part of the book she writes about this with length of power and the tech industry, wow, it's very sin s sincere, let's take a former look author of "good power. welcome back to "mad money." >> thank you, jim. good to be back with you and for this. >> you do things in the book that are incredible. i want to cut to something i think is really important. i don't want to miss it. you were the first ceo it's worth taking a risk on someone that didn't get the four-year degree and you pioneered it and it worked. >> it worked it worked. there are a lot of people that doubted it because it's built in bias and so many jobs in this country, good jobs you can raise a family of four on require a fo four-year degree and i found in my book, 50% of jobs are over

credentialed 50%. that means we're leaving behind so many people and 65% of americans do not have a college degree 80% of black americans don't have a college degree but like my mom you read in the book. she didn't have a college degree, either but she had skills she wasn't stupid. she had aptitude, just no access i've been convinced. we studied it. just as effective. same performance took a little time maybe a year more loyal, more retentive learned more a really great formula for a business. >> when you hire someone from pathways and early technology, ptec, that person is less likely to job hop, you and i both know the person from an ivy league school is on the make. >> and jim, you were one of the first people to support ptech. jim actually hosted -- >> the graduation for the kids. >> the kids are -- >> this is the first class

these were a six-year high school what is interesting is another m rick to prove it, you're a numbers guy. they take more education than my employees with four-year degrees. zn isn't that interesting learning? they love to learn if you hire for one thing in the world, it will be someone that loves to learn. >> let's go to power people have power. ceos have power. good power means in this case a new cloud path to the company or inventing a new collar path for these young people. >> i was really worried that people, you read the newspaper, power gets a very negative stereo type. to actually change things you need power there is a good way to do power. go towards tension but do not divide people. do it with respect and celebrate some progress and you'll make progress. >> but you give up three-step knowledge credibility to trust

and keep being respected this is a journey knowledge, credibility and trust most people don't go through but they should. >> they should and i think that to me, you know, i started you said about tech i've been in tech almost five decades believe it or not. when i started i was an only woman and still in too many cases an only woman and to me knowledge was my only shield and then turn into confa didence and then you feel like i can contribute something it's important for everybody to go through. >> now, you have done such great things with young people now you work in the 110 coalition and skills first, these are both issues. i want you -- you got the floor. i thought this 110 was explosive and you're doing something, 1 million black americans by 2030. these are real commitments you're going to call out people that don't do it and praise people that do. >> that's good power, okay. >> i'm not inviting, i'm u u

nighting. >> you got to talk like president trump, not time to divide but unite. >> 110 this is a coalition co-founded with my other co-founders. you know ken frasier. >> all titans. >> that's right. charles phillips oracle. >> yeah. i just -- you're not allowed to go there. >> i still call him charlie. >> he's fantastic. >> all founders. so ken frasier and i are the two co-chairs. and it's we said -- i think it's a good example of good power, meaning we all start individually than maybe we power of me, power of we, and then the power of us. ken and i are at that point of our life that, you know, we can take what we've learned and got 100 of other companies in this country, great companies, delta, cleveland, bank of america, you know it, to join in coalition, merck, johnson & johnson, long list, general motors and we said to everybody, two sides of this. i want you to really reevaluate

how you do hiring, go through every job. can it be skills first can you remove that false barrier of a four-year degree and give people a chance wr write the skills down, right it's going to do better for your own employees and then we went -- now then we said okay, we got to go to community colleges to all these skills providers because people have to have a skill. >> yes. >> we said we'll first work on this with the black community. it was really on the heels of the murder of george floyd we say how business can do best is give economic opportunity to deserving people but every barrier we're ripping down together is a system makic barrr we have entering year three and hired over 100,000 people. >> you are scale you keep -- >> scale. >> can you do good on scale? you answered it. >> yeah. >> you can't keep saying no, you

can't. you're doing it now. >> quietly, the hard work, delta airlines removed it, the barrier for pilots, the last bach in here and it doesn't mean they don't have the skill they got it another way and they can help them get more skill cleveland clinic went knock, knock a very poor neighborhood and it happens to people this is -- they're everywhere. to me this is about a talent pool if we just approach it right. >> so i tell you, i value that, usually don't say stuff like this on the show you're amazing most people say they can change things you're changing things. >> thank you. >> nobody has any excuse if they read this book, they have no excuse not to find themselves in a good power situation. they can change things like you did. and are doing. thank you so much for coming on our show on the first day. >> thank you for being a great supporter. >> amazing that's the former ceo and chair of ibm author of the book "good

power" which is a page turner. she talks about what it is like to be in a very difficult situation at ibm when you first got there and how you pioneered everything you're something "mad money" is back after the break. >> announcer: coming up, last call "mad money" has a new next-door neighbor on the schedule brian sullivan sits down with cramer before he kksic off his brand-new show, next meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis.

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tonight after the show ends, last call a fast-paced business show focused on the intersection

of money, culture and policy best of all, hosted by my good friend brian sullivan who hosted worldwide exchange at 5:00 a.m. when i have a back scene dialogue while still leading much of the network's energy coverage including this week when he's been reporting live terrifically from a conference in houston really everything you need to know in oil and gas. i can't wait to see what "last call" does at the 7:00 p.m. hour brian, welcome to "mad money." >> it's an honor to be here, jim. i did one thing right and one wrong. i wore my kelly green eagles ties, the 1987 eagles color for you but this background behind me, we can change it i know you're a new york guy we could have put philly up for you. >> oil and gas isn't philly anything i want to talk about your show, as you know, i never missed you. i don't know how many years you've been doing the five but

i've always loved you. you're always nice to pop when you come to the games and it chills me to see you because i know what you're like. i'm so thrilled you got this slot you got so much more to say and this will be your chance to do it, isn't it >> you were a huge supporter of worldwide exchange and i hope you tune in and everybody does and jim, you tweet at us and email us and we always appreciated your support and now we're following a legend literally "mad money" to "last call." it's an exciting show and totally different opportunity. for example, you had an awesome interview with crowd strike. where would we do that on "last call"? we'll run sound and talk about the trillions of dollars that might be at risk from hacking and all the money corporations would put and take big stories and pull them out and maybe ape macro economic and leading with

the budget where does the money go we'll talk about that. we go ro khanna the democrat from california. policy, economics. i also want to have a little fun and even, jim, even, i hope you appreciate this on fridays we might do some like sports betting stuff. why not? let's have some fun. it's money. >> it works for me i want to talk about a 'typical interview. you interviewed jim from dow chemical now dow. we don't call it chemical. i think you are the guy who can say to him, wait a second. i'm around the world i see pollution everywhere it's plastic and i want to know how do you sleep at night see, that kind of question doesn't really go to this show when i try to figure out how people buy dow, how to buy or sell a stock. >> that is you that is "mad money." nobody does it better. that's the investing club. that's not what we're going to do we'll take the stories of your day to your point and try to make them a little broader, a

little more macro. it like i think about not everybody may have the stock market in common, jim, although you certainly want them to and with your help they can do it but also, i think everybody kind of probably does have money just money. >> right. >> in common they want more and keep what they got so we'll take everything kind of from that angle l. by the way, you know what cnbc anchors dad used to work for dow chemical. >> yes, i know from going to games. you did inbelievable breakthrough reporting in indianapolis and europe during what we knew as a skyrocket natural gas and you understood was deathly for these guys would you be willing to take on let's say a long campaign about whether it was right to be -- what happened to germany or new england be like what happened to germany? will you shut down fossil fuel will you take on these issues? no one in the country will take on these issues. >> they're not and it's a shame. flying home from houston last

night, i actually posted a picture to twitter and instagram, jim, of philadelphia. i flew over it on united beautiful, clear night and took a picture and flue ew over the a that used to be a refinery that dangerously exploded. >> sure. >> terrifying. luckily it wasn't a bigger disaster it's now been torn down and never coming back. you can say that's a win for the environment as it is but we were dangerously close to running out of jet fuel and other refined products this summer we can take stuff off line or it takes itself off but we have to be honest enough toe eadmit we need to put more on and to dow chemical's point there are some things wind and solar cannot do. they're not making plastics necessarily -- unless you make them out of hiydrogen in which case now would be $150 for a gallon of milk. >> this won't be about that issue. this will be the right disc discussion these issues are heart felt in

america. there is tons of room on the stock, buy, sell, buy, sell but when you're talking about something like germany becoming hostage to russia, all we hear about is left, right in washington it's nothing to do with left or the right, is it nothing. >> oh, no, it's not. it shouldn't be that much here, either it's a shame you get dumped into which team are you on but welcome to america. >> you got to change that, brian. >> we'll try i think the color we care about is green, not red or blue. i think that's kind of how -- in fact, that's how we start the show like a little monologue i wrote it a short while ago i kind of say that because i want people to know we got democrats and republicans. i don't care if you have something important in an intellectually honest to say, we'll have you on. >> yeah, absolutely. you know, candidly, i've known you forever. i know your politics it's irrelevant, what you'll do is get at the matter so i can't wait for "last call" from one of

my favorite guys at cnbc you're good, buddy. >> jim, i'm honored. the kind words, i'm blushing a bit or maybe wearing blush thank you. >> i can't wait to watch your show thank you for coming on our show great to see you that's brian sullivan host of "last call" that premieres tonight at 7:00 p.m. on cnbc of "mad money." don't misthis this program or g. you need to be watching. "mad money" is back after the break. >> announcer: coming up, cramer takes your calls and the sky is the limit. it's a fast fire lightning round, next. real zero energy is coming... and yes, that means cutting carbon emissions... but it also means cutting costs. because now clean energy is more affordable energy.

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it is time, it is time for the lielgghtening round, buy, b buy, sell, sell, sell, play the sound and then the lightening round is over. are you ready, ski daddy start with earric in delaware, eric >> caller: jim, thank you for what you do. my stock is mp materials. >> a really good quarter and got quartered because tesla says it's not meant for rare earth materials. buy. i like management, too frank in virginia, frank. >> caller: hey, jim, how is it going? >> i'm doing well. how about you? >> caller: i'm doing good, man, can't complain here in virginia. >> excellent what's your stock? >> caller: thanks for taking -- i got cryoport i got about 125 shares. >> very good speck very good speck.

packaging. i kind of like it. kind of a, you know, ancillary play let's go to joseph in new york, joseph >> caller: how are you my friend boo-yah. >> boo-yah to you. what's going on? >> caller: what's going on from brooklyn >> perfect. >> caller: by the way, upac. >> automate, repetitive, too speculative, i'm sorry let's go to nicolina in missouri. >> caller: boo-yah jimmy, thank you for taking my call today. >> my pleasure, what's up? >> caller: fsr fister inc last week the ceo announced they're on target to produce 42,000 vehicles this year with the support of their partner magna this production with the asset-like business model has f fisker in a position to be positive this year amongst ev plays do you see fisker as a

long-term investment >> doesn't have a lot of debt. a good board it's a descent spec. could go to five before ten. i'm saying it's a descent spac let's go to charlie in new york, charlie? >> caller: yeah, hi. >> charlie. >> caller: hi, jim i'm a member of the club i have a question. >> thank you yeah >> caller: about a year ago i bought intuit. i sold some two months ago and i'm wondering what to do with the rest of it. >> hold on to it a lot of people playing this, no, no, no, a way for small business to compete with big business and i'm in support of the movement and they make money when they're doing it. tom in missouri, tom >> caller: hey, jim, how are you? thanks for taking my call. >> good, how about you of course. >> caller: good. i liked your fish picture this morning. hey -- >> awe, thank you. >> caller: you're welcome. the stock i'm asking about is

for like a one-year hold at least and it is fig, f-i-g-f. >> i don't like fashion apparel or apparel as much as i think this is a very good idea and may actually be profitable, again, it's just a speckac and not more. i didn't say it's not worth owning but i wanted to clarify it is a spac let's go to bruce. >> caller: shoutout -- >> how are you, bruce? >> caller: shoutout from south carolina jim, i'm dancing with the natural gas maker. my position is suffering i'm retired. i won't need the money for three years. do i hold -- >> oh, okay. you just gave me the situation where i'm not worried about it look, if we get a hot summer, that thing will be at $200 maybe it shouldn't trade on the

weather, maybe it does and that, ladies and gentlemen, is the conclusion of the light wh ing round. >> the lightening round is sponsored by t.d. ameritradeame. like said, there is an invest tore born every minute wait, that's not right but it could be cramer explains, next.

the fed has a tough job fighting against inflation is one step forward, two steps back sometimes. that's how i feel when a company like bed bath and beyond can raise capital here or carvana

catches up in used car prices. in this kind of environment, these are the outfits that fall first yet now the only notable cash of the entire rate hike cycle is party city, a retail there would have failed if the fed were cutting rates and party city is really restreucturirest, not sign of hope this is tough for the fed. on one hand you have a powerful politician, people like elizabeth warren talking about how the fed is trying to destroy jobs heckling jay powell saying he may throw too many people out of work. on the other hand, we have a major labor shortage, perhaps the worst since world war ii so bad that 2 million extra workers might not be enough to cool this economy. yes, jobs are that plentiful i don't blame elected politicians for trying to protect jobs at all costs but that's why the fed is an independent agency they need to be able to bring the pain to inflation even if

voters might not like it it was pointed out inflation erodes everyone's purchasing power and much worse for poor people than wealthier ones whereas losing your job in this environment simply isn't that bad because it's never been easier to find work but the fed is struggling to beat inflation in large part because seemingly doomed companies refuse to die the deal that kept bed bath alive is hard to understand but hedge funds financing the company then flipping the securities to fools who really believe bed bath could make it no right to do an ipo, too much of a shamble but it could do a spac merger andactually went to premium. this company lost $2 billion and negative $1 billion in free cash flow the revenues have been going nowhere. i think it's a joke that it even exists it should have been crushed a long time ago but because the markets were so easy, it's still alive. a lot of people told me carvana couldn't make it because of a

collapse in used cars crushing the value of inventory used car prices are soaring. inventory is good. darn thing could do a similar bed bath style finance now, some of these are truly the fault of the fed maybe if they took rates up earlier, some outfits would have rolledaeal ississue, we have full employment. betting they're getting in on the ground floor which really tremendous opportunity i think it's a joke but in this tape, they can convince themselves it's possible to find someone to sell to someone more stupid than they are until we eliminate the anything is possible mentality, the fed will keep failing in its efforts to cool down the economy the good news for the fed is the ipo market is still pretty much closed or they would snap up all sorts of jobs. the bad news, so many individual and private equity buyers, this is always money for any pitiful enterprise, anything anything in the same put out of

misery that money must be wipe the out before the fed can get it under control but there is so much of it and feels like a sucker board every minute in this fed nightmare of a stock market. i like to say there is always a bull market somewhere. i promise to find it here for you on mar"mad money." i'm jim cramer seu u e e yoyotomorrow the >> thank you, jim. i am brian sullivan. tonight, president biden about the pull back the curtain on his new budget. the staggering spendings that you have got to hear and you may have to pay for. plus, the members of conference as the word ukraine moves on. we are going to hit that and so much more with that all-star panel.