>> really? >> probably not. >> tweet at us clear secure tell think bounce off the recent low. >> they do skew young. that's true. thank you for watching "fast money. "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 is 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 a little money. my job is not just to entertain, but to educate and teach so call me at 1-800-743-cnbc or tweet me @jimcramer. going in the right direction i heard it all day the consumer price index is no longer red-hot, and it looks like the fed is winning.

it's going in the right direction. and that's why we can rally. dow 86 points, s&p gains, and the nasdaq jumping 1.15% and it's true. we had a surprisingly positive consumer price index number. even if that's more or less what everybody was expecting. a surprise that we expected. so are we out of the woods then? is the fed done tightening, right? in your dreams, people the fed's not done, and i'm going to tell you why. first, going in the right direction is not what the fed's aiming for the only line in the cpi that made things truly better was the decline in used car prices if it were to suddenly reverse and go up in price, then the cpi would be headed in the wrong direction. [ buzzer ] if the fed were to change course based on a number that is heavily influenced by a single piece of data, they would have zero credibility [ booing ] second, the data is most important when it comes to inflation right now. housing prices isn't even in the

consumer price index back in 1983, a group of politicians took the price of homes out of the index in order to make the inflationary moment look, well, less inflationary. unfortunately, home price escalation is now the single worst form of inflation out there. >> the house of pain >> home prices are up a staggering 40% since 2019. it's routine now for toll brothers to sell million homes the american dream of owning a home will be borderline impossible for the vast majority of people in this country because of inflation if you remember the federal reserve, this is completely unacceptable home prices must be rolled back. not just less inflation. they want deflation. the difficulty for the fed is there is a huge gap between the number of homes being built and the number needed. perhaps as many as four to five million. and there is very little existing supply because interest rates were kept so low for so long that people don't want to sell and move somewhere elsewhere they have a much more

expensive mortgage so the fed those play for time until more homes can be built and more apartments can come online that's higher for longer third, we need to stop confusing any given index with the tight labor market that makes our current battle with inflation so intractable. there are still way too many jobs chasing far too many employees. there are still more businesses that are expanding rather than contracting, even after the mini banking crisis, incredibly, there is plenty of capital and credit available to start a new business and let me tell you what i'm really worried about, the gigantic number of jobs being created all over the country to meet the demand generated by all the federal government money earmarked to stop climate change or to build our own semiconductors in this country to get away from the chokehold of taiwan. both worthy goals. both goals i champion. but the timing couldn't be worse. this morning i was going through the jobs that are needed in the battery industry, the solar industry, the wind industry and the semiconductor manufacturing industry i then layered on the biggest building projects in our nation

like the liquefied natural gas export plants that have made us the world's biggest exporter of this stuff i can tell you that there are literally hundreds of thousands of jobs that are being created right now. hundreds of thousands. and that would be terrific if we were in the middle of a recession or just a stagnant economy. all these projects could take a 6% unemployment rate and bring it down to 4 but a 3.6 unemployment rate that we have? this is nuts we have no real existing trained workers who know to work with their hands, who can do spot welding or handle heavy machinery. the people currently laid off are top of the line white collar workers at tech companies or cashiers at failing retailers. and there aren't too many of those, almost all seem to be connected to bed, bath & beyond. worst, the kinds of jobs being create ready so specialized, it's almost impossible to believe there are more than a handful people that really know how to do them

during the heyday there was a group of engineers that was the best of the best back then now our country is going to be putting up the fabs in places all months where there is very little institutional knowledge of how to construct these complex factories. companies that are building them in ohio and new york will be very hard-pressed to find the right people to do the job to find any people to do the job. but that's nothing as for the talent we need to built battery plants for electric vehicles i know idea how those will be staffed. the solar and wind projects are so voluminous, you have to believe the companies that build these will be betting against each other and that's how limited the pool i'm not against any of the projects i was a huge supporter of the chip because we currently source from taiwan, a country with disputed sovereignty that the people's republic of china always seems eager to invade the hope is they wouldn't do something crazy like invade a u.s. ally because it might trigger world war iii.

but maybe they figure we're bluffing it's vital that we have our own semiconductor manufacturing capacity, but not just for sprinkle purposes, but for military might i'm also a big fan of using clean energy, not dirty energy solar, wind, electrical, these are all integral to cleaner skies. i want to continue to export natural gas because it's much cleaner than coal. but we sometimes seem to forget that we now have an economy based on service, not manufacturing. people, this is not 1950 it's 2023, and our economy is about 70% based on services. even in recessionary times, we wouldn't have a pool of skilled labor big enough to handle all these projects we don't have the schools that can train people either. our country got out of huge manufacturing after nafta conceded a ton of manufacturing to china cheaper goods for people to wear it was a corrupt bargain in retrospect so if you're the fed you be joyous that the price of cookies has come down and fish seems to have stabilized, power has

cooled off and second-hand cars are going in the right direction. but the number of jobs right now being created by federal money is so gigantic that it's almost impossible to imagine where we'll find people to fill these positions, at least at these prices, if not much, much higher i can tell you this, though. they're going to be paying a heck of a lot more than anyone expects. and i wouldn't be surprised if the general contractors don't even hazard to bid for these jobs because they'll lose too much money bottom line. unfortunately, even with inflation cooling, the fed has no choice but to keep tightening if only to offset the tidal wave of inflation caused by all the government spending that is about to steamroll this economy. scott in pennsylvania, scott >> caller: hey, thanks for taking my call, jim. i heard your comments yesterday on shorting in the market. >> yeah. people talked than carvana piece all over town they talked about it why do that piece? i've got more comments on that carvana piece than i had in a long time. what's going on? >> caller: i remember the bear stearns story where they were

concerned about being shorted and looking to be crushed. and this morning i was looking at newell, nwl and noticed they're 6% short the recently just started increasing in their price. so do you think they're in play? >> no, no. i think they've actually got management that's turning things around but the balance sheet is not what it should be. and any company that has a not great balance sheet is in this environment if we think we're going recession attract short sellers. i don't care for the company in part because i think they v a lot more to do with the balance, but it is better than it was a year ago let's go to john in north carolina. >> caller: many help for your investing help over the years. >> thank you, john appreciate it. appreciate it. what's up? >> caller: a several weeks ago a short seller's report knocked down exponential fitness what do you think of that? >> holy cow, holy cow. i was talking to ben, our

research director, and i said we've got to get these guys on this thing was just solid rave exponential fitness, listen up welcome back to the show we need you more than ever even with inflation cooling, the fed has no choice to keep tightening if only to offasset all the government spending that is about to hit this economy it's been underestimated by everyone on "mad" tonight, remember the class of 2021? there are higher quality numbers that are making a comeback, and i'm talking to one of them it's called sprinkler fresh off the company's investor data. learn more about the company's story. and more on stories from spending to legislation. this time the inflation reduction act to see how you could profit off the new flow of money. and docusign has a new ceo at the helm. could this be the impetus to finally move higher? i'm talking to the man himself, so stay with cramer. don't miss a second of "mad money. follow @jimcramer on twitter

have a question? tweet cramer, has#mad tweets. have a question? call jim at 1-800-743-cnbc miss something head to madmoney.cnbc.com. i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. [coughs] good to go. yeah, i think i'll get a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. no. i'm going to get a second opinion. with innovation refunds, there's no upfront cost to find out. so why not check like i did for my small business? take the first step to see if your small business qualifies for the erc.

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she has no clue that i'm here. she has no clue who's in the helmet. are you ready? -i'm ready! alright. xfinity rewards creates experiences big and small, and once-in-a-lifetime. ♪ about two years ago when it became clue that the ipo market had jumped, i started covering all but the highest profile new offers because i could tell this thing was headed for disaster. this year we're seeing the higher quality members of the ipo class of 2021 make major comebacks. stake sprinklr, the company that helps clients manage all their customer-facing functions from call centers to social media counts using a single platform that's important

sprinklr has doubled from lows set last december and why shares could go much higher still and held an investment day i want you to hear that story directly from the horse's mouth. so let's check in with ragy thomas he is the chairman and founder of sprinklr to get a better read on the story mr. thomas, welcome back to "mad money." >> thank you, jim. it's a pleasure to be here. >> you were on eight years ago you were a delight a couple of companies that no one knew about to have come on and i loved what you guys did, because of the way you managed everything but since i've seen you, there has been this incredible explosion of people writing stuff and saying bad things. how are you able to do this job now versus then? >> well, i think our job is getting easier. >> huh >> because companies are beginning to realize that they cannot afford to ignore the voice of the customer. no. >> if someone goes there and leaves a one-star review, you better go and answer it. don't wait for the phone to ring because it's doing damage out

there already. and so i believe that this idea of putting everything together in your contact center, along with marketing, along with sales and along with getting insights on one platform is a game-changer. >> do you think people are beginning to realize that these companies it really does matter? that a one-star review can crush them >> well, not one one-star review be, ah lot and that's what's going on people are talking to each other. they no longer believe what you're saying. you could come up with the best ad you can say my car is amazing. someone goes and checks out and someone else is saying it sucks. who are you going to believe. >> these are thread. were you ready for threads out of nowhere it's got millions of people. and people are probably doing some damage to some of the companies that you follow. are you getting right to work on threads? >> we are. the good news is we are truly omnichannels as soon as the apis become available, in two weeks every part of sprinklr from customer service to marketing to

advertisement engagement is going to start working on threads. i'm on threads already now do we need more channels obviously we do. there is 100 million people that signed up. and it's great news for companies like us, because we make it like -- we make it easy for a business to get started on whatever is coming next. >> now i always look to see who speaks for companies when you have these analyst days. and i am sure you were thrilled. it was google that came. i can't think of any more reverential team you want to be with what did they say? >> they said artificial intelligence is very big for them, as we all know engaging with customer, making them happy, getting inside very important for them we've had a great partnership for many, many years we are blessed to have some of the biggest brands as customers. >> you have netflix. you have amazon, microsoft i mean these are -- i don't know >> ten of the top ten brands in

the world. they do, thankfully. >> i want to ask you about one that i think is -- i think has excellent customer service, and that's lululemon they are constantly being rated everywhere, and they do have a higher price point, so they better have a premium product. what do you do for lulu? >> we do digital, social engagement and service that's typically where we start with a brand >> okay. >> and so customer -- companies' brands who are customer obsessed, we're the first ones to jump on sprinklr. so lululemon was an early customer, and their obsession with making customers happy is why they can afford to sell higher studies -- analysts have said if you obsess about your customer and customer service and expedience, there is a 700% better chance that customers are going to stick with you. regardless of how good your product is >> but you must be working with top-flight people within these companies. you can't do it alone, and they can't do it alone.

>> i'd like to think we are coinnovating and coinventing this idea, this category that we call unified customer experience management lodgely, crm as an industry, it's about 30 years old. we need what's coming after, that and that's what we're trying to invent together. >> now when i look at a company, i'm going to give you it, all right. i bought some stuff, and this is very frank at ikea. and my daughter and i, i think we stopped talking to each other for four days because i bought something at ikea and i broke it what do you do for the real tough ones where it's do it yourself and people make mistakes themselves, and it's not the company's faulted, but you have to still answer. >> well, we do and what we do instead of thinking of this isolated as when you call customer service, you start thinking about understanding what is broken by listening to customers so you find out that number one complaint that you get is people are not able to follow

instructions now the thing is we help them understand that's your number one complaint so they can maybe make the instruction booklet easier maybe they can do video customer service. so start by listening and push information to the customer in a self-service way nobody wants to call a brand you just make it available inside the product like there is a customer, in some cases you want to push that support on to the device so you don't even have to call. >> it's a great idea eight years ago, twinkle of the eye, and you guys have done a great job. i want to congratulate you you should be very proud on your analyst day right here. >> thank you, sir. >> okay, that's ragy thomas, founder and ceo of sprinklr. and cxm, which is customer experience that's their symbol, and that's what they are, and "mad money" is back after the break. coming up, when d.c. moves, which companies groove winners from the inflation reduction act. next

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after a surprisingly low inflation reading this morning, we truly had no idea where this economy is headed. maybe the fed is one less reason to raise interest rates, but maybe they want to crush inflation so thoroughly that it won't come back for decades. i hope but rather than trying to bet on the fed's move, i'd rather gamble on a sure thing that's why all week i've been highlighting the companies that benefit from the biden administration's spending spree over the last couple of years. huge federal programs that are finally starting to kick in. finally. it could be with us for a decade that's a lot of money. and at least for next year it's guaranteed albeit inflationary, as i said at the top of the show now we've already been over the infrastructure bill and the chips and sciences act so tonight let's tackle the huge spending bill called the inflation reduction act, the ira, not to be confused with the organization of the same name,

although i'm sure jerry adams got a kick out of that one it's got nothing to do with reducing the inflation, but looking back, it was brilliant marketing, because now the white house can take credit for the big decline in inflation, down 3% as of last month, even though the ira had absolutely nothing to do with it. in reality, it could take some huge climate change investments. it extends federal subsidies for obama care, it allows medicare to negotiate lower drug prices, really big, and it reforms several elements of the tax code to raise a little revenue, including a new minimum corporate and stock buybacks some of it is being challenged in court some being roll back by the debt ceiling deal, but for the most part huge components today aren't going anywhere. tonight i only want to focus on the biggest chunk of the bill, the $369 billion for climate and energy security initiative, because it's what contains the most obvious stock ideas and believe me, i know they were

talked about initially, but people have forgotten about them or didn't think it was really going to happen. that money is going to be in hand just when people have forgotten about all these great stocks for example, the ira extending tax reds for rooftop solar panels, electric vehicles, home improvements like heat pumps, big, big money solar is tricky, because these stocks tend to trade with the fossil fuel complex, the competition and they're tied to interest rates because when the fed tightens, it becomes more expensive to get the financing needed to install rooftop solar panels people forgot that and got crushed in some of the stocks. gibraltar the tough environment, i recommend sticking with the best of breed. first solar, i like the company still, up 30% for the year despite the weakness in the group because it's one of the only solar makers that is actually profitable. if you're willing to take some risk, and i got to tell you, this one is as risky as they get, you want to focus on enphase, crucial pieces that transform energy capture by

solar panels into usable electricity. but that said, the stock has been terrible of late. down 31% for the year, the opposite of first solar. you have my blessing to buy enphase on weakness because it is a key cog in the solar machine and i expect the stock to recover plus, it's the cheapest it's been seince 2020. it's gotten so much more difficult because of higher rates. it's still a very good business, but people understand that oil goes down, rates go up >> sell, sell, sell! >> enphase what else. the big problem with solar is it only works when the sun is out the germans discovered that. it's only sunny 27% of the time in germany big mistake for them but this energy storage goes hand in hand and our country is sunny a lot not just in philadelphia untrue that brings me to generac.

i don't hate the generator side, and i think the solar side can recover along with the rest of the industry you just need to be patient. if we had a bad hurricane season, you expect their stock to roar because they make the emergency generators everybody needs when the power goes out. that said, generac's stock is usually volatile just don't pay up for it because you will regret it and by the way, if jim farley is watching, which i know he does, the ceo of ford, yes indeed, the ford 150 lightning does everything that generac does when the power goes out and more, because you can drive in it how about the electric vehicle tax credits? these look very generous on the surface, but there is fine print that limits who can actually get them the car has to be assembled in north america. the buyer can't make too much money. each manufacturer can be only available for so many tax credits. gm has the limit when you consider all that, the only one that has more upside

from these electric tax credits should be ford it hasn't hit the limit, even as all of its electric vehicles and plug-in hybrids should be eligible isn't that terrific? the inflation reduction act investments in alternative energy, the department of energy loans. think wind, solar, nuclear and clean hydrogen we've already talked solar and wind is pretty established let's talk nukes and hydrogen. regular viewers know i just love constellation energy that's the independent power produce they're is the closer we can get to a pure play nuclear power. next year energy also has seven nuclear business southern companies building the new nuclear power plant in america since three mile island. hey, kids, look that one up. that took forever but it's finally coming online this summer, thank heavens. i have two preferred names the first is linde the industrial gas powerhouse we own for the charitable trust, which by the way i talk about in-depth in our really visceral

monthly conference call today. linde has the largest liquid hydrogen capacity in the world even as it's a relatively small part of this their business. they're building a new facility in upstate new york that should double their capacity. second, like cummins they make elect trollizers, and they're working on hydrogen powered truck engines. i like both companies very, very much why these two old line industrials? because if you see a pure play on hydrogen fuel cells, it's going to be insanely speculative. too risky for me i'd much rather bet on high quality established companies like cummins and linde who else should benefit? ge's power unit makes wind and gas turbines along with nuclear power reactors obvious winners. i was struggling because ge, i

call them toucheurbines. they call them turbines. ge is killing it thanks to the incredible strength of their aerospace business but early next year they'll spin off a division and i can't believe i said that, because i hated that division for a very long time. the ira also iincentivizes inves in carbon capture and storage. the first thing that comes to mine is denbury, technically an oil and gas producer, but they used their expertise to become a leading player in carbon capture technology they're very good at it. i like talking to those guys i also like enbridge, the canadian pipeline company that is working on a network of pipelines. enbridge is doing terrific things to transport energy in the gulf thank you rusty brazil and that's a proven winner away from the ira. those are some of the potential

winners as the provisions go into full gear this is such a sprawling piece of legislation that i could spend an entire week on it alone. i love going over it there is so much money to be made just reading the fine print. but the bottom line, as the ira subsidies fully kick in, and they're happening right now, i think the highest quality alternative energy plays will get a huge tailwind. and the whole group should be in better shape once the fed stops tightening and the economy can stabilize, which might be sooner than expected. let's go to james in new york. james? >> caller: how you doing, jim? >> i am doing well, james. how about you? >> caller: doing good. my question is about lockheed martin i've had it for about two years. i was wonting about it. >> i think lnt run by james who is dynamite. i think it is trading down because people feel congress isn't going to spend as much here's what you need to know a well run company that is very inexpensive. so therefore the answer is --

buy, buy, buy! >> how about we go to olga in ohio >> caller: boo-yah, professor kramer. >> boo-yah to you. what's up? >> caller: try to never, ever miss your show. >> thank you so much >> caller: i value your machine about moderna. it is almost at a six-month low. every time it raises its little head, it collapses and and also the chairman is selling it weekly. what is the problem? >> well, you know, you identified the problem, didn't you? selling, the shorts are really after it can i say in a positive way that their technology is incredible and in the end, the technology will wind. i want you to stick with it. it is a house of pain for people, but i am a believer in moderna. okay how about peter in florida peter? >> caller: hey, jimmy, how's it going? >> oh, not bad how about you? >> caller: oh, i'm great but, you know, i'm thinking

about pharma seems really fickle novo nordisk has been highly recommended. but then when you get competition from lily with the obesity drug, they're getting spanked. >> i'm worried about it. why? because eli lilly owned by our charitable trust, we talked about it lovingly today at our monthly meeting, they have so much money and they're going to open so much money that to me novo is at this point a sell, and eli lilly is still -- >> buy, buy, buy >> and that says it all. as the ira subsidies fully kick in, i think the highest qualities in plays will get a headwind docusign, one of the best quarters in years last month why is the stock stuck in the mud? i'm going straight to the source for answers. and earlierer subscribers for cnbc's investing club. i got real and shared with club members how difficult this

business can really be i went in the kitchen. and i'm going to share a piece of what it's like to be a chef all right. all your calls rapid-fire in tonight's "lightning round" coming up next so stay with cramer!

what's it going to take for the stock of docusign to turn around during the pandemic, the company revolutionized the process of closing business deals and real estate transactions with its e-signature software you probably used it and couldn't believe how good it is. but the stock fell off the cliff. new competitors popped up. demand slowed down the old ceo had to retire. a nice guy now docusign has a new ceo

it's allan thygesen. in a year has he has aggressively cut costs plus, last month the company reported one of the best quarters in years. what's going on here let's take a look with allan thygesen he is the newest ceo of docusign since last october welcome to "mad money." >> thank you, jim. it's great to be here. >> you had a very, very good quarter. i saw you on another show. >> yes. >> and you almost talked me out of liking your company because you were so conservative so can you just explain to me what really is going on? >> well, it's really i think a reinvention story, right so we had a fantastic franchise in e-signature we created the category. and that i think continues to be a foundation of our strength but we need more and so the three things i'm focused on are, first, reimagination of the product growth app we want to really revolutionize immigrants more broadly. look at everything from editing,

negotiating and execution of managements. second, revamp our go to market. not just direct sales, but self-serve partners. and third, improve our internal operations i think we're making really good progress on all three. >> here is a morgan stanley note way smart guy. he goes we have the greatest competitive threat to docusign comes from adobe, given its ability to bundle e-csignature capabilities if they're going against you, how do you beat them negative, question adobe is a great company. i have a lot of respect for the management there we're much more focused on the agreement space than adobe i think that will read to our benefit. so we are better product, people respond more favorably they respond faster, better workflow internally in the systems. and we're focused on the agreement space. so i feel very good about where dock you sign is heading and not focused on what adobe or other companies are doing. >> okay, fair. 1.6 million houses last year, 1.2 this year.

400,000 down i use docusign on real estate. others do too. is that part of the problem? >> well, we did see some effect from the real estate slowdown. that's mostly behind us now. we're sort of in state mode there to the extent that recovers, that will help us a little bit but we're a diversified company. every industry uses us. >> health care, you're the only guy. >> health care, very interestingly, we're really upgrading our capabilities there. we just launched last quarter electronic record compatibility. and so now -- >> owned by oracle. >> we're doing very well with that here is the interesting stat for you. 88% reduction in errors by using electronic signature and a $36 per transaction reduction in costs so i'm very optimistic about our future in the health care space. >> okay. a lot of companies tell me ai, ai, ai sure enough, i've got it the ai innovation you talked about will have a meaningful impact on customer acquisition

and spend. i put it right at you. i'm hearing too much ai from people tell me why you are real ai? >> well, first of all i'd say we have a long history of having worked with ai we're shipping products with ai embedded in them products that are really solely ai-based with that said, if you look at the immigrant space, generative ai lends itself so well to every step of the workflow there we're very well-positioned for that reason. lastly, we have the largest repository of agreements in the world. six petabytes of agreements. we are exceptional proprietary data set that with customers' permission we can deliver exceptional solutions for them i'm very bullish on the future of ai and i think it's going to be a nice accelerant for us. >> okay. periodically, some people tell me i have to notarize something. i don't know what the hell that is, other than the fact there is somebody i hire who is a notary. do you have to still have a notary when you have your company?

>> there are certain situations where individual states require notaries i really think that is going the decline over time. we offer that solution but i think what's more interesting is we can fully digitally replace all of that. so we are actually launching next week here in the u.s. a feature we launched in europe a few months ago where you can upload your id, let's say your driver's license, and we do a live video verification that it's you, same picture on the id and that you are present that collectively is equivalent to an in-person signing and so much more convenient both for the customer and the company >> i got shut down with a credit card in iceland last week. same thing i had no idea how to prove myself so i ended up having to use my kids' credit card, which was incredibly embarrassing for me for the record your plan might make it so that can't happen. >> we can definitely do it technically. >> that's going to be a darn good business. >> we are pretty excited. >> and still kept a lot of money from when you made all the

money. spent all the money like a drunken sailor from the covid days. >> we are driving improved profitability this time. our focus is on profitable growth >> i don't know. i mean, and this is one of those where i'm shaking my head. adobe is a third, nowhere near as big as you are in the space >> i think we are the leader in the space. >> i think that's fair to say. allan thygesen, the ceo of docusign full face closure, when you were reporting the quarter, i thought the stock would go up. but he is so conservative that the stock did not go up. but that's maybe your nature, and there is certainly nothing wrong with that. >> thank you, jim. i appreciate it. great to be here. >> thanks for coming on "mad money." >> thank you >> "mad money" is back after the break. . coming up, cramer wants to hear from you. your calls from a thunderous "lightning round," next.

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"lightning round" is res sponsored by td ameritrade ♪ it is time it is time for the "lightning round. one of those cnbc -- calls -- [ buzzer ] >> and then the "lightning round" is over are you ready, skee-daddy? it's time for the "lightning round. bob in new york, bob >> caller: jim, i need your help. >> sure. i'm here for you >> caller: i'm looking at a company that is down 25% year to date the stock has a p/e under 7 and a yield of 5.8%. what do you think about international paper? >> oh, what a tough business my dad sold craft paper for a living i got to tell you. i see and feel the pain of the

people with ipape, because they do a great job, but i can't recommend that my father would come home at night and have that glass of wild turkey and say i didn't sell a lot today let's go to jeff in new jersey >> caller: how are you doing i like to ask you about karma. their market test is about $10 billion and their asset over 30 billion. what do you think about this thing? >> the only way it can be saved if it gets taken over. a terrible defeat on this activation blizzard. i don't know what the justice department would say about it. but i got to tell you, paramount's great hope is that she keeps losing let's go to barbara in california barbara? >> caller: hi, jim i'm a first-time caller. >> okay. >> caller: hi. i've been watching the stock that has been hitting new highs for months i would be interested in your entry price for clean harbor clh. >> still not expensive even right here so what you do, i talked about this today on our investing

class that i put on, the club meeting at 12:00, you put on some here and you wait five points down and you put a little more on. you buy down in scale. i don't want you to buy it all at once because the stock has had too big a move but you're right, it is a good company and it can be bought now we're going to brian in new jersey brian? >> caller: boo-yah, dr. cramer >> thank you for giving me that degree what's up? >> caller: so i'm interested in occidental petroleum a couple of things one, earnings are coming out on august 2 two, they have good earnings, i think 8.7%, or 8.75 value per share. and they have a dividend that's about 2% and the p/e in the upper 6s, which is pretty reasonable i think. >> well, i tell you, you know what these are things that you can say why not buy pioneer, which we own for the trust get a better yield you get a much cheaper cost and i think you should go with

pioneer. people like occi, sometimes you want to have a company with better costs in an environment where oil has come down, and that's pioneer owen in new jersey, owen >> hey, mr. cramer, how you doing today? >> i am doing fine, owen how about you? >> caller: i'm doing great thank you so much for taking my call >> my pleasure what's up? >> caller: i wanted to get your thoughts on a stock energy sector down 14%. i got it a couple of days ago. i think might be a good hold for a while. duke energy. >> duke is very solid. duke's got no flies. i'm okay with duke i was afraid you were going to say dominion, which i'm very concerned about which gave away its last interest in a perfectly good lng plant i want no parts of those guys. >> caller: hey, jim, big fan >> thank you. >> caller: i was calling to ask about c 3.

>> i like them, but it is so short, it is a short squeeze at this point it is not making any money and i don't recommend companies that aren't making money on "mad money. let's go to richard in massachusetts. richard? >> caller: hello, cramer >> richard >> caller: can't wait until week one to trounce your eagles >> not going to happen but that's okay. go ahead >> caller: we can place a bet on the side i'd like to know what you think about air ares capital >> i know the reputation the reputation is absolutely terrific and i know the yield is big, but i don't know what they own enough to be able to say buy, buy, buy. now let's go to rick in pennsylvania >> caller: what's up this is rick from the other side of pennsylvania. >> the steeler side? >> yeah, the cool guy side >> i never heard of it called that.

>> caller: yeah, buddy. >> it stands to reason because it's so out there. you got hazel in pennsylvania there. and the ohio border. nice guy horse sense. go ahead what's up? >> caller: i wanted to ask about there is a stock pretty close to the bottom right now sipping on this thing could be a ten-bagger, man, i'm not joking. could make some people a lot of money. but the only problem with it is it's got -- it's negative operating income >> that could be an issue. >> caller: crr >> you see, it's got to be a two-bagger to be a ten-bagger and i don't know if it's a one-bagger i think it's a decent company. you know what i say? if you were from the eastern side where all the people are really smart, you would be buying adobe, okay so get that straight, all right. and the steelers, yeah, i mean, ever since they got relegated down, the steelers, right? they relegate in the nfl and that, ladies and gentlemen, the conclusion of the "lightning round"

[ buzzer ] >> the "lightning round" is sponsored by td ameritrade coming up, find news the club cramer and jeff marks held court today with the cnbc investing club keep it here

i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds at no upfront cost. sometimes you need a second opinion. [coughs] good to go. yeah, i think i'll get a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. no. i'm going to get a second opinion. with innovation refunds, there's no upfront cost to find out. so why not check like i did for my small business? take the first step to see if your small business qualifies for the erc.

we hosted our cnbc investing club meeting today, but this time we did things a little differently. anyone who belongs to the club knows i play with an open hand but today i am a coportfolio manager marks let you inside the kitchen in a way that no one has ever done to let you see how the sausage really gets made just like in the two restaurants i used to own, it's plenty ugly, sufficient fused with anger, with regret, and above all, passion. too often this business is perceived as being bloodless money managers who talk about what they do and act as if they're there is nothing to it they bought it perfectly, they sold it perfectly. but it was all one big carnival of brilliance. which is why you should give your money to them, because they're never wrong, and you

always are well, that's the opposite of reality. as i showed in today's candid club meeting, money management is an art, not a science there are conflicting disciplines and difficult reactions to the unforeseen. sometimes you have a dilemma, buying stanley black & decker only to see the stock fall, but you didn't have nearly as much on your sheets as you might want or in english, it fwllew up befr you could guy it up. it's easy to hear a manager say we own stanley black & decker. you never hear them say we own enough and it is how you react to the situations that matters. i shared a genuine disappointment that i refused to violate my patience and pay up for more stock i showwhat it was like to kick myself for me, it's torture and i showed that to investing club members today, because i'm tired of hearing that how everybody i listen to gets everything right, and you get so many things wrong. hey, but you want a real

visceral angle go listen when i talk about health company where we just got bagged bagged, totally had by a management team that was much more bullish than it had any right to be on our own network, nonetheless. owning that mistake, accepting that i got had, but did i? made the mistake that it's on me is part of the whole game. i was the one who felt misled. of course, there simply aren't enough money managers who ever admit that they got had in public why the heck would they advertise their mistakes bad for business it could even get on with the good once. i told you own nvidia, don't trade it i said wait if you don't own it. i've been blasted for not pounding the table on nvidia some accused me of convincing to short nvidia had i shorted myself -- i can't short anything yeah, i shorted my dog nvidia too. yeah, remember when i did that to him no

i just didn't tell people to buy it right before the quarter, for heaven's sake. i don't like playing a game of roulette, the kind of russian rule let that is buying before a quarter reported the stock had a parabolic move i want you to have confidence in picking stocks the only way i can do that, though, is to admit that mistakes are routinely made by everyone, including the professionals. some cases especially the professionals. be they can't keep you from continuing to try. mistakes are part of the business for everybody now we're fortunate to own big slugs of the magnificent seven for the charitable trust we've owned the best of the drugs and industrials. but make no mistake, if you join the club and watch the monthly calls like today, you'll see an imperfect process. you'll hear from most money managers on tv is a myth nobody is that good. [ booing ] let me leave you with this shout. i think that managing your own money is one of the most challenging, difficult things you can do but it can be satisfying and tremendously lucrative, as long as you learn from your mistakes,

today we devoted a full hour to being inside the kitchen it's just plain raw and painful and passionate, because that's how money actually gets made, even if most portfolio managers will never admit it on the air i like to say there is always a bull market somewhere. i promise to try to find it just for you right here on "mad money. i'm jim cramer se "fast call" starts now ♪ tonight on "last call," uninsurable. another home insurer ditches one of the biggest states and what it could mean for the housing problem. a whistleblower lawsuit making stunning allegations against medtronic. we have a special investigation into one of the world's biggest medical device makers. and tom cruise to the rescue, again. why mission impossible may be pulling the summer box offic