>> rebecca >> i'm going to sell small caps, russell. >> dan nathan? >> i remain a seller of nvidia i got a lot smarter sitting next to her >> great having you here thank you for watching "fast money. see you tomorrow at 5:00 "mad money" with jim cramer starts right now. you tomorrow 0 for more "fast money." 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 some money. my job is not just to entertain you but to educate and teach you. call me at 1-800-743-cnbc or tweet me @jimcramer. you want to know the best way to miss big opportunities every single day it's easy.

just focus on the blather about the coming recession and nothing but the recession. the endless recession chatter, when's it going to come, how bad it's going be to be, how long it's going to last, as a total misdirection play. one that prevents you from trying to make money in the market and making money is supposed to be the point of this exercise. it sure is the point of this show i probably heard the word recession almost as much as i heard the name elon musk it's ridiculous. even with all the negativity the dow only slipped 110 points, s&p declined .6% nasdaq lost .8%. but more important the market was back to even a lot of the day. here's why i'm so sick of the he recession speculation. if you had to predict which sectors of the market would be the weakest going into the extremely severe economic downturn what would the first one be the first one would be steel that's right nothing more cyclical than steel. total boom and bust industry, right? it lives and dies with the broader economy everybody knows that, correct? going into a recession something like nucor, the largest steel

maker in america would be an obvious short. yet today nucor reported a bang-up quarter with improved shipments and price that's were up nicely year over year dangerous short. even as the analysts almost universally expected a sharp slowdown nucor blew away the estimates. the company's even expanding right into the teeth of the so-called recession. it's taking market share, taking names. great guidance too no wonder the stock jump 5.5% today with the positive pin action spreading the rest of the industry if you shorted the steels, let me just tell you, should have sent me a letter informing me of exactly when your funeral was. we've got nucor's ceo leon capalian on the show later he'll give you more insight on what's happening at this great company. ♪ i know the all noeg bond market's trading like a recession's inevitable but nucor isn't. after the steel the second most dangerous group to own in a recession would be the home builders you can only imagine how badly

they'll do when the fed raises interest rates and housing gets crushed. but wait a second, they've already taken short rates from 0 to 5%. and this morning horton reported a great quarter. that's on top of a monster revenue beat horton introduced a full year sales forecast 33 billion more than 3 billion above the consensus estimate on the low end. this stock jumped 5.6% today makes perfect sense. now, remember, this is the country's largest home builder you think they're looking for a recession? no, they're looking for profits. and they're confident the fed can't stop them. if i were them i'd be confident too. every time the fed raises short-term rates longer-term bonds go down in yield because wall street gets more terrified of a recession and of course that makes mortgages all that much cheaper. let me put it another way. if we're really heading into a recession would the largest home builder in america be within a few blocks of his all-time high? that's what d.r. horton did

today. a few bucks. the strength here propped up the whole cohort including cramer faves lennar and toll brothers this is how obvious some of this can be just a couple weeks ago we had stuart miller on he's the executive chair of lennar i've known him for ages. he told such a great story but did anyone even listen nah. today lennar's sitting at a 52-week high and what can i say next short target in a recession, don't we always short the autos? the autos. anything car-related gets killed, right? including repairs? how about snap-on, which makes tools for maintenance shops? the biggest gainer in the whole s&p 500 today, up nearly 8%. has the world gone insane? no, zmapon's just a well-run company and the company's in better shape what else? oh, this is another group you've got to sell. the semiconductor capital equipment group because -- billions of dollars when you put them all together.

it's incredibly cyclical when the economy's in bad shape their orders always fall off always but today lam research was the second biggest gainer in the s&p 500. why? because last night taiwan semiconductor one of the world's largest chip makers called a bottom to the semis, which has been crushed by an industrywide glut huge call. took up the whole semiconductor capital equipment including kla, which has been reporting great numbers the whole time and i could go -- let's go to this >> all aboard. >> aren't they supposed to be awful in a recession csx, gigantic rail, reported 9% revenue growth year over year. you don't want to own anything chemical-related either, correct? i mean, that's -- but pbg, the maker of painted plastics, delivered an excellent set of numbers this very evening. this by the way is after it already preannounced great numbers. and just really not that long ago. you could argue that i'm simply

cherry-picking here. i'd come back and say are you kidding? this happens every single day because while the economist and the commentators are convinced we're looking at a recession the actual companies, they don't seem to buy into it one bit. neither are the bankers. and they'd know. right? i mean banco santander's chairman anna bautin says it certainly doesn't feel that way. and i think she's outstanding. santander's up the most of any major bank and she exudes confidence for this country and the entire world and more on that later when we speak to her and you'll know exactly what i'm talking about of course the great thing about this market is so many people believe there will be a recession that they take action too. they buy the packaged goods stocks that's also excellent, right because those won't see any falloff in orders. many of these defensive stocks were down hard at the opening but then they came back. in the end there's a name for this kind of market. ooh. it's called a bull market. and it feeds on the skepticism of those who think the asset class is whistling past the

recession graveyard. of course there are some stocks that would be up but couldn't stay up. at one point amg rallied after taiwan semi said the chip glut was ending the chip glut's been terrible for amd. along with nvidia. the stock was down eight bucks today. nobody likes it all of a sudden. and yes i have to mention elon musk will be the subject of tonight's no huddle. that's our last segment of the show he had a botched product launch. that's how that stock jumped 17 bucks. i'll opine on that later too i come out every night i have to tell you the end of the worlders, they're everywhere right? and they're all banking on a recession. and it really doesn't have much evidence i don't think they have anything to hang their hat on after a day like today but you must always remember the s&p 500 is made of a host of stocks, some ready to roar higher into a recession while others roar because the recession might be milder than expected and some of them roar because there may not be any recession at all >> the house of pleasure >> we had winners in all three

groups today, which is not what you'd see if you're going into a severe slowdown. so here's the bottom line. even though we saw plenty of rough patches today, one of the most counterintuitive stocks rally on great numbers like this, it's a sign that the bull is snorting. not sleeping and not about to get slain regardless of what the economists tell you about the inevitability of a recession i think you should get on board before it's obvious to everyone that we're mostly headed for a soft landing without a bad recession. if you wait until everybody else knows what i just talked about, you will most likely be too late let's go to tyler in california. tyler. >> caller: hey, big boo-yah from california how are you doing, jim >> i'm doing well. chill says hi. what's up, tyler >> caller: i'm doing good. i'd like to know what do you think of chipotle going into earnings >> chipotle going to 2,000 by the way, chipotle's one of those places, they're automating a lot of things. they've got some great new dishes bring back the brisket it's at $1700 and i like the stock to go a great deal

let's go -- oh, my, let's go to georgie in pennsylvania. georgie. >> caller: hi, jim i've been a club member since inception and have learned so much from you. >> oh, thank you >> caller: my question is -- my question is this i bought humana when initially recommended. what is happening to cause it to drastically drop yesterday and again today? >> you're right. look, humana got recommended by kenneth fitzgerald the group went down when unh reported a very good number. that's a dow stock good number and the stock sold off. this is the pattern of these companies. they go all the way up and we nailed this one but good for the club then they trade down, then they go all the way up again. so i think that humana is a great buy, and that's why we're sticking with it i thank you for joining the club and don't forget to listen to the home stretch a little bit after 2:00 every day where jeff marks and i do get out exactly about things like humana

the naysayers keep calling for a recession. but where is it already? i say when the market goes down -- >> buy buy buy >> on "mad" tonight surging avenue earnings. can investors continue to expect gains as strong as steel from nucor? i'm checking in with the ceo then we're continuing our series on rare ipo winners. a look at industrial winners that have moved higher since their public debut and santander has its finger on the pulse of europe and also the whole world. i'm learning more about what the spanish bank is seeing with the company's top brass. so stay with cramer! >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer hashtag mad tweets send jim an e-mail to madmoney@cnbc.com. or give us a call at 1-800-743-cnbc

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i admit i love to say i told you so i've been recommending the stock of nucor, the best steel maker in america even though the hedge fund playbook says you're not supposed to own the steels when the fed raises interest rates so rapidly. instead you're supposed to short them but i think it's more complicated than that. this is not the normal slowdown. and we have so much federal infrastructure spending on the way. and nucor happens to be an unbelievably great company when the company reported this morning it delivered a big earnings beat much better than the numbers they preannounced over a month ago it's some one-time items but it's for real. nucor guided for some great numbers in the current quarter management had some extremely encouraging things to say about the full year. no wonder the stock jumped $8 or

more than 5% today, one of the biggest gainers in the s&p 500 i wouldn't be surprised if it goes even higher as more people recognize the reality of the situation. but don't take it from me. let's check in with leon to toppalian. he is the chairman and ceo of nucor. he's got a better read on the quarter. welcome back to the show >> thanks, jim appreciate you having me today >> this is a remarkable quarter and it flies in the face of everything we hear about is it just possible that nucor is that good or are things also not as bad as we think >> again, jim, i would tell you we've got the best manufacturing army assembled anywhere in the world. we're coming off a great quarter, a historic year in 2022 and ultimately what delivers in the industrial sector for our shareholders and our customers it's 931,000 team members that make up the nucor family and how you take care of them and the value that we hold in having now on the fifth safest year in the history of our company, and a couple weeks ago, jim, i got to in profit sharing sign the check returning back

nearly $1 billion of earnings to the 31,000 team members that make up our family and so again, it is them that delivers every result that we get. couldn't be more proud of how they're executing on our mission to grow the core, expand beyond and live our culture >> we are thrilled for your team members but we also have to say shareholders 200th consecutive dividend 50 years of dividend increases for a steel company? >> absolutely. and jim, i'm part of a legacy of an incredible company that has been disciplined, has been careful and been diligent, understands the cyclicality of our nature and at the same time over the last three years, jim, we have returned nearly $9 billion back to our shareholders in either dividends or share repurchases. and that's going to continue well into the future >> there are some things coming out from the federal government. we met up with secretary raimondo last week, the commerce secretary. she talked about the chip

sector i have to tell you, it may be the biggest building program that this country's had since the '30s they need a lot of steel to build these buildings, don't they >> oh, jim, absolutely between the infrastructure, the i.r.a. and the chips act you're talking 8 million tons of steel per annum for the next decade. that's 7% or 8% of the entire steel consumed in this nation. but as you mentioned, the chips act. today there are 34 semiconductor plants proposed on the books to be built for $375 billion worth of projects that are steel intensive. and not only are we going to help build them because our customers are demanding cleaner steels and the diversification nucor can bring, but jim, when they're built they're supplying our customers in the tier 1 automotive, in the hvac and the heavy equipment. so it's the full life cycle. and that's why i truly believe nucor's future has never been brighter and we will continue to grow this company >> we had the ceo of the largest warehouse company on "mad money"

last night hami mogadan he told me it's 98% occupancy and those who think the warehouse industry is dying are quite wrong, it's the best of times. you're in there. you made the decision in a gutsy time to be in there. how's it working >> absolutely phenomenal our downstream businesses consume about 20% of steel demand but in that expand beyond piece of our strategy and warehousing overhead doors, racking, the towers and structures, that is returning great value. that's only going to continue. we're coming off historic highs. but jim, that warehouse data storage, battery storage plant, that's $100 billion segment that again nucor is the most diversified steel maker in the nation that's poised to capitalize on all of that. >> now, it does help that both republicans and democrats realize that this is an industry worth preserving i know that other countries would have come in and gladly

undercut you with some lousy cheap steel. those days seem to be over both parties agree that nucor should be allowed to compete >> absolutely. and you called out secretary raimondo her and catherine tire, ustr, not general counsel, they understand our industry. but jim, we're going to continue to advocate. in a world of oversupply we've got to continue that the manipulation and the continued games that get played of steels making into this country or into our southern and northern bordersthat eventually make their way in here are kept out we've got to continue to be vigilant it's a neverending battle. >> when we talk endlessly about a recession on the network and about the collapse and fear of non-residential construction, i always think of you because you are trying to profit no matter what is that just the way we all can do it if we just understood your optimism and your team >> yeah, look, absolutely. this is the short answer

but as we think about the life cycle of nucor and where we're investing, we're investing in non-cyclical companies that provide a better return metrics that are creating higher highs and higher lows. more than 2/3 of the way through a $14 billion capital campaign that is going to double nucor's earnings from aour pre-pandemic level in the next three years. think about that we're going to double the size of nucor in about five years' time so the growth -- the future is very bright. and again, in a world where it's changing quickly and rapidly and the solutions we're providing and a customer base that's demanding cleaner, lower embodied carbon steels are already there. we're already providing those today. >> your optimism is only trumped by how great your numbers are and what you do for your team. i want to thank leon topalian, the chairman, president and ceo of nucor a remarkable quarter a remarkable team. thank you, sir, for coming back on "mad money. >> thanks, jim appreciate you having me again

>> we'll be back after the break. >> announcer: coming up, an industrial-sized edition of our ipo survivor series. which companies took to the street and liked what they found? find out, next you can't buy great conversations or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price,

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even the worst group of stocks up here can have some tremendous winners, including that miserable ipo class of 2021 that's what i've been thinking about ever since prometheus bioscience, which became public in that vintage of 2021, got a monster takeover bid from merck with a 75% premium so all week i've been combing through the few dozen winners among the 383 stocks that came public two years ago, most of which are horrendous and i'm only looking at the ones

that are still trading today as opposed to the ones that completely blew up we've been taking this sector by sector tonight we're looking at a group that is completely for lorne the industrials. only five stocks are up from where they came public as i said at the top of the show, this is not normally a group people want to buy when they're worried about a recession. so those five winners must be really, really special to be able to get on this list and give us some good return why don't we start -- this is kind of what we call a reveal in the business let's start with bowman. yeah, yeah, like you know bowman bowman consulting group. this is up 109% from where it came public in may of 2021 even after this move bowman is a tiny $398 million company that's only followed by two analysts. so herefore, it has to be considered inherently speculative. but wait when you look into what these guys do, it is a very intriguing story. bowman provides professional

engineering services think civil engineering, environmental assessments, land planning and surveying for both public and private sector class. kind of like a mini jacobs these are all things you need to do at the beginning of major projects which makes me wonder if they'll see a ton of business from all that federal infrastructure spending that should be hitting soon that certainly seems to be what's driving the action here bowman's stock did next to nothing for its first year and a half of trade bug began to rally hard last november yeah, that's when the legislation started kicking in on the most recent conference call last month management boasted of strong new order volume and 46% backlog growth last year. they specifically said by the end of last year we started to see tangible momentum from the 2021 infrastructure bill as it relates to transportation spending throughout the country. well, there it goes. bowman's been winning big contracts too. pennsylvania turnpike authority, they've got a ton of money massachusetts transportation authority. along with several state departments of transportation. all directly related to the federal infrastructure bill.

their last two quarters were fantastic. you have to understand that when you got the money, the states are the ones that allocate it. those states are ahead of the game there are so many others that are about to come. my one concern here is being late to the party. bowman's selling for 37 times this year's earnings estimates but then again, growth year tremendous the stock trades at just 22 times next year's numbers and i think those estimates are going to prove to be too low you should only buy it with money that you're willing to lose but that said i think bowman consulting's worth speculating on ideally buy it in yun of those classic downdrafts the market keeps gifgs you that i talk about all the time next up, cadre holdings. with a stock that's rallied 68% from the ipo price these guys make safety and survivability products for first responders, federal agencies and the outdoor market things like tactical gear, armor and more mun-day stuff, gloves, utility belts, holsters. a well-equipped cadre chairman now would be proud of. the tricky thing here is -- that was a joke

the thing is cadre's earnings are expected to explode this year but they do have a habit of missing the numbers. in fact, they've missed the earnings expectations for several quarters in a row. while the stock appears to be reasonably priced at 27 times this year's earnings estimates it ends up looking real expensive in the future if management keeps failing to deliver on its numbers it doesn't help that cadre filed to sell 3 million shares for existing shareholders just yesterday, which is not small considering there are only 37 million shares outstanding and the float is less than half of that. even without that offering, though, i couldn't possibly recommend cadre until it stops missing the darn numbers i'm putting it in the penalty box. how about the third best this one's getting interesting but not for me and that's zim integrated shipping which is still up 42% from its offer price the stock has plummeted from $91. you called in when it was up there. then the 80s, 70s, 60s now, it's all the way back to just 20 -- it was over a year

ago. it's 20 and change it's all the way back. it's just not fathomable what's happening here why has this thing been such a disaster over the last 12 months they're a container shipping play they claim to have a strategy that sets them apart from their competition. with their fleet management griffin ai yeah but at the end of the day it's a tough business you never want to own the container plays when the global economy's slowing and more importantly shipping rates are plummeting after making a fortunate in 2021 and 2022 we were in short supply of just about everything zim's now expected to lose money for at least the next three years. hard pass. oh, but here's one that's very interesting. i like driven brands what is this one number 4 it's the largest motor services company in north america with 4800 locations across 15 countries. bet they have a bunch of snap-on equipment. they do paint jobs, collision repair, glass repair, maintenance and car washes basically, driven brands is a

roll-up of different types of auto mechanics operating under several different brands there's a reason this one is up nicely from the ipo price in 2021 we he live in a world where both new and used cars are incredibly unaffordable because there's simply not enough supply when you can't replace your car you have to spend more money making sure the current one is viable particularly after warranty driven brands has been putting up amazing numbers including 11.4% same store sales growth. higher than anyone the industry that i know. while they give a excellent full year sales forecast after earnings guidelines came in a alittle light. i think management is practicing upod here. underpromise and overdeliver if i'm right and they can beat the numbers driven brands has more upside. like bowman and cadre, i'd never even heard of these guys until we did this series hey, it's a real eye opener. finally there's one and you've called on this one it doesn't sound like anything but it really is sounds like an insurance company

meets an interesting restaurant company but it isn't it's a distributor of products for handling water -- waste water, storm drainage and fire protection along with providing the latest services. they sell to municipalities, private water companies and professional contractors through a network of 320 branches across 48 states. truth be told, core & main's had a mostly unremarkable performance since coming back in july 2021. the stock made it to the low 30s by the end of 2021, never got higher than that by late last summer it had sunk to the high teens. since the bottom last fall, however, it has a nice move, valuing to $25 and change. interesting. a big chunk of that recent gain has come during the past few weeks because the company reported a very strong quarter with a fantastic full-year forecast just like bowman consulting they're picking up new business thanks to the federal infrastructure bill. best of all, core & main sells for just 13 times this year's earnings here's the bottom line of the 50 names from the ipo class of 2021 that are still above their offer price only

five are industrials and i think only three of those are worth recommending bowman consulting, driven brands, and core & main. >> buy buy buy >> cadre needs to be more consistent before i get on board despite regular questions i get about zim integrated shipping this is the wrong point in the business cycle to own a container ship let's go to ron in florida ron. >> caller: hey, jim. >> ron >> caller: boo-yah from the sunshine state to you. >> i love my sunshine state. my wife was down there for a couple months. i visited twice this year. i love it there. what's happening >> caller: we're fans of mickey mouse here i like to cost average ever since i went all cash back in the covid days >> okay. >> caller: and it's working for me i recently found agco and i loved they're robotic, they

don't need as many farm workers, and i thought it was a great -- just a great idea. i looked up the company. and i bought my first piece. i want to cost average it's now down 5% from where i got it and i'm wondering if i should add to it at this -- >> you're too tight -- it's called too tight a scale we teach this in the cnbc investing club constantly. you need to wait until it goes down 10% 5% doesn't help your basis enough use a 10% spread and then pull the trigger and buy some and then i'd be much more comfortable because you need to know, i think agco's great but you don't need to buy at what we call too tight jeff marks and i talk about that constantly there aren't a lot of winners from the industrial ipos of 2021 but we were still able to find some pretty darn compelling stories that i think you should take a look at going forward much more "mad money" including my exclusive with santander. hey, how is this spanish bank prepped for a higher rate environment? by the way, it's trying to dominate the world and succeeding we're going to talk to the company's executive chair. then from the spacex explosion to tesla's post-earnings

decline, okay, tough day for elon musk. but tonight i am coming to his defense. you don't want to miss it. all your calls, rapid-fire in tonight's edition of the "lightning round." so stay with "cnn newsroom."

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trinet. people matter. ♪♪ alex! mateo, hey how's business? great. you know that loan has really worked wonders. that's what u.s. bank is for. and you're growing in california? -yup, socal, norcal... -monterey? -all day. -a branch in ventura? that's for sure-ah. atms in fresno? fres-yes. encinitas? yes, indeed-us. anaheim? big time. more guacamole? i'm on a roll-ay. how about you? i'm just visiting. u.s. bank. ranked #1 in customer satisfaction with retail banking in california by j.d. power. okay it's true. europe's a mess right now. but there is one european stock that i'm willing to endorse. and that's banco santander that's the gigantic spanish bank with the huge global presence, probably one of the greatest franchises on earth. in addition to having more than 3% dividend yield, incredible generous buyback, this is a bank

that's retired 5% of its share count in the past couple years and they plan to retire even more money to shareholders going forward. plus the most recent quarter excellent. i think it's the strongest bank in europe but actually it's much more far-flung than the continent. earlier today we got a chance to speak with anna botin. she's the executive chairwoman of banco santander take a look. >> anna, most people don't know the powerhouse that is your bank but you are the top of the heap in terms of performance for stocks >> it's great to be here, jim. thank you for inviting me. yeah, this year we've had a pretty good run. since investor day the market has really taken the price up. they liked our plans so we're up almost 30% this year but we're doing well we gave very ambitious guidance for the next three years >> but people should know, 160 million customers going to 200

million in 2025? that's remarkable. again, maybe the largest when you get there. >> well, what we basically communicated is a new phase of shareholder value creation we added 40 million customers the last eight years and we've said 40 million more the next three years. and double-digit share growth through the cycle. >> we were looking at credit card numbers we see you as number one now with 97 million people worldwide. just passed citi rather remarkable. >> we measure active customers and active customers have a very high correlation with cards and payments and we have 99 million current customers. >> incredible. now, i'm thinking that the reason why that is besides the fact of how outstanding a banker you are is simple, fair and personal tell us about that >> sure. if i may correct it it's simple, personal and fair. >> oh. >> it's the order.

that is really important and we think about -- we do really well in personal and fair we're aiming to do much better in simple. our big thing for the next few years is simplification because that will drive much better customer experience. we want that when you operate with us you have an amazing experience so we have to be more simple >> so if i want to buy a car anywhere who do i end up most likely being financed by >> the u.s., we are top five auto lender. in europe we're number one in latin america we're number one. that is a big business for us. and it's a business that we've been doing for many years. >> okay. because you are so large all over the world, because i've told over and over again, clearly the most stable, strongest bank in europe, where do you see great growth in the world? where are you concerned? >> what makes us different is exactly what you said. we have not just global but in market scale and this combination is very powerful and so you know, the growth very

much also depends on the context. so this year the growth is actually going to come in profits from europe. but medium -- >> amazing >> yeah. but medium-term growth in terms of sustainable growth and increased profitability, for me it's the u.s i made a big bet when i took over that the u.s. was a good market for santander, for santander shareholders, and the last few years that's been the case >> i wonder whether -- and just touch on europe for a second your share has been remarkable you've gained a great deal others have fallen back. but is spain the strongest state on the continent >> well, spain has made a remarkable journey over the last 50 years, since we have democracy the average spaniard is living much, much better with convergent gdp per capita. but we're not just in spain. we're in auto lending as you just mentioned we're in the nordics, in germany, we're in the uk so we are pretty diversified

and this is one of the attributes of the santander model. >> top three profitable innine out of ten markets this is an incredible -- you're an incredible barometer of those markets. why are you in some? why are you in these and are they all growing >> we decided a long timeago that we'd rather be in fewer markets and have scale which goes back to what makes us different is this combination of in-market scale and global scale. so you mentioned, you know, active customers and cards we have one of the biggest in the world. but if you combine that with the in-market scale that is a very unique combination that provides network effects. that's a magic word. >> i'm from philadelphia, as you know and people in philadelphia know you as the bank that's affiliated with the philadelphia eagles is that just something you decided that it's important? i know you are a sports fan. but it changed the perspective

of what your bank is by making it so that when you are at lincoln financial it's you whose name we see. local strategy >> because we're a global bank but we're also a community bank. and so we want to be part of the communities and do what's important for those communities. i mean, we also sponsor the local football team in cantabria, santander where i'm from we try to be embedded in the communities. and in philadelphia it's the eagles >> but also you're also known as someone who is a great golfer and at the masters -- you have done many things that americans regard as being crown jewel. you've gotten to do that but you live in spain. these are things you just -- if you were in chile, if you're in mexico, are you meeting with the heads of state are you parting grain into all these places >> when i meet with them we meet in an office >> but you do meet them. >> we do meet.

i was just in latin america. i met with the president of chile and president of mexico. it's in my instagram you can see there. but that's part of my job. we work with all governments in the countries where we operate that's what we do. >> a lot of people feel that mexico may or may not be -- some people even call it a failed state. mexico you described in your meeting as fabulously profitable what's going on there? >> well, you know, first mexico, brazil also, i always say that the lows are always higher so these are countries that have a larger middle class every year they've made a lot of progress mexico in terms of the public finances, they have one of the best fiscal balances of any country in the world so inflation for them is a priority there's been a lot of growth there's full employment in mexico not just in the u.s. so the country is making very good progress. >> when i first got in the business, citigroup was the

worldwide company. that's who you went to they dominated worldwide do you think i'm being too aggressive by saying that you are now the worldwide bank >> well, in a sense yes. but very different from citi and others i mean, we decided to be in few markets but have scale i know we said it twice already. but we'd rather be larger in mexico, brazil, the u.s., uk and not be -- we're not in asia. we're not in africa. we can service our customers in these markets through others but really we are in europe and the americas >> and your perspective on the world now. we see a lot of gloom here is there reason to think even, say, that america is very strong in your position >> so you know, the world has lots of issues if you think about it we have a war in europe. terrible humanitarian disaster we have inflation. we have climate change so i do think -- and the imf just said the world is going to grow 1 percentage point less than it's grown the last 20 years.

the biggest problem we all have is growth. how do we get back to growth sustainable growth >> i like that organization you just quoted. but i want to know what ana botin thinks is going to be the growth >> i think -- i don't see a recession this year. >> good. good >> i don't if you look at the numbers, and i'm always looking at the numbers, americans on average, on the aggregate, because there are people that are suffering, but on the aggregate have more than 3 trillion in household liquid assets. salaries, nominal salaries are up 9%. debt is up 8%. on the aggregate the u.s. consumer is still very strong. so that will end at some point, yes. but i don't see that in the next few months >> excellent good way to end things ana botin, banco santander, executive chair. thank you so much. >> thank you >> announcer: coming up, cramer takes your calls and the sky is

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it is time it's time for the "lightning round" on -- play until you hear this sound and then the "lightning round" is over. are you ready skee-daddy time for the "lightning round" on cramer's "mad money." let's start with ken in maryland >> caller: hey, great to talk to you. >> same. >> caller: i've been following

you since the mid 70s -- or mid '90s when you were guest speaker on cnbc. and more than once you promoted stocks i was going to present to my investment club and i had to not do it by time i got to the club meeting >> investment club >> caller: hopefully i found a stock that's under your radar and you can give me a buy signal the company has a 5% dividend and has a moat -- the company is called ofc >> first of all, you're doing homework and it's terrific i'm worried about that commercial real estate segment suburban's better than city but i still can't be in it but i do thank you for the call and i hope your team does well let's go to larry in north carolina how are you? >> caller: hi, jim, how are you? >> i'm good. how are you, larry >> caller: jim, i am calling

because i'm interested in your perception of irobot be as an investment >> that is an arbitrage situation because amazon wants it i'm going to stay away from it can't opine on that can i go to sam in connecticut >> caller: boo-yah, mr. cramer >> boo-yah, sam. what's going on? >> caller: thank you for taking my call. >> what's happening? >> caller: i just would like to ask your opinion about unity group company. >> unity group yeah, unity group, $3 stock. stocks don't get to be $3 because they're going up i found this one a tough sell. 18% yield. i just think i would take a pass on that one. let's go to mark in wisconsin. mark >> caller: dr. cramer, thank you for taking my call >> i'm thrilled too. doc's in the house how do i help? >> caller: semiconductor stock, some insider buying. the bollinger bands are really

starting to tighten up on this one. the ticker's nvts. navitas. should i buy some? >> it is going to be profitable in the next 12 months. so i am going to bless the name because i happen to like the group so much. and that, ladies and gentlemen, is the conclusion of the "lightning round"! >> announcer: coming up, a tough day for elon musk. what's his immediate fortune mean for home gamers stick with cramer.

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look, it's a real bad day for elon musk. he's down more than 7 billion on tesla. he had a rapid unscheduled disassembly, aka an explosion, or let's just call it an unconscious uncoupling of his starship, his spacex gigantor. i don't know if anything happened to twitter but i can't imagine it was a banner day there either so you know what i think it's a perfect moment to stick my neck out and come to musk's defense for a long time i've been a huge fan of something called the men who built america. it's a terrific history channel production i'm constantly reading about the guys who built the railroads and the steel mills or the oil company. i say company, not companies, because back in rockefeller's heyday there was only one. i even like that old american rascal jay gould instrumental in building so much of our infrastructure of course that means i appreciate thomas edison and

even vanderbilt despite his subomt mal political foibles there they weren't always great people there's a reason they're called robber barons. but they were titans of industry and at this point i think elon musk belongs in that pantheon. even on his worst day. wall street hated tesla's report it showed they cut prices to where conventional oil companies can't come up. yes, his margins are bad but i think that's a conscious choice. musk might be taking a page from henry ford who disrupted the not tire aught oinds with the model a and then the low priced model t dabbing the hopes of his competitors. just like musk ford had a technological edge that his rivals couldn't match. and by the way, you can appreciate what henry ford did as an industrialist without endorsing his extremist religious or political views next, as much as musk's starship explosion goes here's my rap this is not a man who's afraid to make mistakes he'll eventually correct and get this rocket to the point it works. just like he's done every other

time spacex blew something up. musk can afford to take more risks with his rockets because they're all unmanned and that's a good thing. i think his solar business will break out once it's ready and when it comes totwitter i don' know if his paid blue checks are the right way to go but he's got to do something about the problematic cast of characters who populate his platform. and i say that as one of the ten, yep, ten most hated people on twitter no badge of honor. just the facts now, i met elon musk only once a long time ago at a very exciting dinner at marc benioff's house marc's the ceo of salesforce which we own for the charitable trust. he has these fabulous soirees where you typically have to go around the table and tell us something we don't know. i was sitting next to musk he said in a few years there would be a giant solar field in northwest colorado that would provide all of the electricity for the united states, all of it ooh. there were a lot of oohs and ahs. but i wasn't a fan boy i went on the attack i said it was absurd and that there was no way for the infrastructure to roll over like

that fossil fuels are in place. the incumbents can't be dislodged that quickly i was let's say adamant that he be wrong he stopped he pondered. he stared at me. and he said, there's a 50% chance that you are a hologram, just my imagination. i had no and back. fortunately the former ceo of intel chimed in. he's a mathematician he felt there was only a 27% chance i was a hologram. and that was something that instantly broke the tension in the room although musk didn't smile and he didn't laugh. i've often thought about that dinner because i believe one day the huge colorado solar field will actually happen but only if elon decides to make it happen. as much as he ridiculed me i recognized he is a man of innovation and persistence and perseverance i think the next rocket will be money good and i think tesla's a buy. what can i say musk's the best there is highest compliment i can give. is he controversial? sure but you could have said the same thing about every other great

industrialist in history is he going to win every single day? no way of course not. over the long haul, though, i'd much rather bet on musk than on his detractors i'd like to say there's always a bull market somewhere. i promise to try to find it just for you right here on "mad money. i'm jim cramer see you u momototorrow "last call" starts now. tonight, this is ford's electric truck going up in flames earlier this year. how safe are all easy batteries? china, and the treasury check treasury secretary comments. going straight to the matches. a story in concert ticket prices sure to generate bad blood. and the city