if you don't believe me, google it or listen to tim seymour, who was also there one of the most overrated bands of all-time. >> guy and his thug friends -- >> valuer will roe >> welcome back, tim >> good to be back >>

up 18% for the year. surge in wells fargo, 12%. i think there's an answer to all of these, and i know it, because of the work we do for the cbnc investing club, jeff marks and i. you don't buy it until the stock market gives you the chance. the pitch you need to catch these winners, but at your price. at the right moment. now, i know a lot of people isn't restrain themselves. they want to buy ahead of the quarter. i have to tell you, i'm saying it right here, right now that's a sucker's game these days so many stocks have moved up in this market that it might be hard for them to maintain the momentum, even if the most amazing sales earnings earnings forecasts that are giving you on a conference call. the only stocks i have mentioned did not involve churning was --

which traces by $4 billion, was just an unstoppable force. there are so many -- that report numbers, they see the stocks meander and go down and they churn, then they move. it is absurd to bet on it, -- better failed to do. inspect that's mike we have far more cases. they just have very large moods, but they were still handling it before they really took off. -- before it advanced . a about this, right now, this is a good opportunity. so, what should you do? what is the best way to figure out what you are looking for among all of the choices i mentioned? i think this is a matter of keeping it simple, stupid. the case method that his methods is that there are so few cases -- then why bother to figure out that apple is 5 1/4 earnings or amazon might make

more that's -- have stopped slowing. k, do you want to go into who hard to find out that youtube has signed up -- nfl sunday ticket so that google's share -- who knows? so, it is a simple way, it take a step way to measure and figure out what to do with every one of these stories. i have got there i am giving it to you. first step, ask this, are we -- the stocks that sell part of the overreporting equation? if yes, guess what you have to forget about it. make the move, and of story. you were not bold enough, you were to --. if you are stuck with mike wilson, who conceded today, as i knew he would, when he said we were wrong and staying two best quotes on we were wrong pixi, the reason this mattress, not the topic all that matters is it is hard for stocks when we are really over. right now we are really overbought, which means we are pretty darn vulnerable. as i'm

committing as it is, you fail to capture the upside, you're either have to move on or wait for a better moment. no sin in waiting, that is what i am urging members of the investing club who are not in. it is too late. so, what you want to do with almost every one of these opening stocks i just mentioned is wait for the reports but more importantly, wait for the selloff that brings the whole group down. at 247 on wednesday, after they earned a press conference . it there is somebody engage, i know it is hard to wait. it is so much easier to swing away. you have to ask yourself swing away what? there is not a pinch worth of hitting unless it was two months ago, both these rules in mind, understand all the winners i just mentioned are off-limits unless you get a market-wide sweep, or one of them reports a good quarter for

some reason talk about netflix. very few conflicts, you missed it. we don't want to believe we missed it, unless you are willing to set her for these sectors, the markets have not, so to speak, you must accept that that it is long over, here is your bottom line. you have to wait . it these don't ever come in, then that is all she wrote. let's go to enter in california, andrew? mckay jim, big fan of your show. i own exponential fitness. last month there was a report that came out with allegations and concerns that the franchisees are losing money. i know you have highlighted docs in the past but what i want to know is will they give me exponential gains? >> here's what i'm going to tell you, i have some very specific questions about whether any of this franchise

has failed. the first answer was no. i did not find out that some people say the answer was wrong. so, here's what we do. when we have a situation, i invite that person on to tell me why i should believe him and not the press. so, ceo, founder, hope to see you soon. medicine in texas, madison? >> hi jim, we own a large position in ducky sign and wanted to ask your thoughts but why is ducky signed you wish and so low if their overall adoption is as high as is is? is it to the company's fault for not charging enough? or is it so low that others are able to enter the marketplace? >> you are asking the most important question i have found, exactly that is what i've felt when i interviewed the ceo of ducky sign like what happened? i came away thinking they are going to pull it off. the previous ceo, i think he fell on his morals. i think he had it all locked up

and then a company like adobe said you don't have it locked up. i like docusign, i think you are going to be okay. not great, there are so many better stocks. but okay pick listen, we never want to believe we missed any things. i know you know, no second guessing, but it is true. unless you are willing to sell for the markets have-nots, i showed you why you shouldn't, you must accept that at this point the opportunity is long over, unless we get a swoop. we have been focused on all things are stable for years. now they are out with another important op-ed about the whole cryptocurrency court and i know you care about that, i will break it down with the man himself . the comeback of the original -- sharing where i think this volatile quarter of the market could be headed. this next part of the ftc is the latest update but what does it matter for you and your stocks? i discussed it with jonathan cannon. you do not want to miss this,

stay with cramer. don't miss a second of mad money. follow @ jim cramer on twitter. have a question? tweet him. send him an email to matt money @ nbc.com or give us a call. one 807 43 cnbc. miss something? miss something? had to matt money.cnbc.com. meet gold bond healing. a powerhouse lotion that moisturizes, heals, gold bond. champion your skin. how's the chicken? the prawns are delicious. oh, i have a shellfish allergy. one prawn. very good.

did i say chicken wrong? tired of people not listening to what you want? it's truffle season! ah that's okay... never enough truffles. how much are they? it's a lot. oh okay - i'm good, that - it's like a priceless piece of art. enjoy. or when they sell you what they want? yeah. the more we understand you, the better we can help you. that's what u.s. bank is for. huge relief. yeah... ♪ a third kid. what if she likes playing golf? it's expensive. we're outlawing golf. wait. can i still play? since we work with emower, we don't have to worry about planning for a third kid. you can still play golf... sometimes. take control of your financial future to empower what's next.

right now we are in an incredibly pivotal moment when it comes to cryptocurrency. unfortunately congress does not want to step up to play with legislation, so we have some sort of a framework through enforcement action which is risky, those can only challenge support and are cumbersome. a couple of weeks ago we got a

federal court decision against the --, that is a company behind cryptocurrency called x rp. it is a mix. but the stock market viewed it as a defeat for the s.e.c. because cryptocurrency was not a part and was not within the s.e.c.'s purview. we are a long way from having a set of rules that can protect. the former chairman of the trading commission pointed out a really smart op-ed piece if we don't take the lead on this, too regulated, other countries set the standard, that is true for stable points, not the most dangerous leap, the real economy. in the wake of the decision about this, let's check back in with our go to crypto regulation expert from the school of government. welcome back to matt money . >> jim is great to be back with the picks i am worried. i think our country should be

the leader of everything finance, it is very clear in the last few months that we have ceded this supremacy to other countries that may not even understand what they are doing, including american investors, how do we stop it? >> i don't think we are that far behind, at least not yet. and i think the u.s., if it were to just exercise a little bit more leadership here, i think other companies would follow. there are really two different issues here. one is the general regulation of group to which you refer to, and this is problematic. in some ways it was a victory, and another words it wasn't. that is why i still believe we cannot get to a good regulatory framework through enforcement alone. and i have advocated that the s.e.c. should get together and create some standards on these platforms, and congress should direct them to do that. >> okay, please, this is really

important. >> yeah, so, as you said, stable coins are kind of a potential connector between the crypto world and the real world. now, a this is a crypto token that is supposed to be backed by real assets, and most of them that we talk about our backed by dollars . 01 token equals one dollar. they are only used for crypto trading today, they might have other applications, but they exist, and my concern is that we are not addressing the risk . i think our regulators often take the view that while it is better to try to keep them out of the regulatory perimeter, i don't think that really works. and, you know, i think the competition from stable coins could be useful. again, if we address the risks. they are significant . >> well, i have to tell you. i remember during the bad days of 2008 where people broke the block, without there were

securities backing up our dollar in the money markets, then they cleared it up and it was great. i know millions of investors, and from my pamphlet and people that i deal with, if they knew that there was something similar, a money and that was crypto, they would feel so much more comfortable. why isn't fidelity or jpmorgan or even the s.e.c. and treasury saying here is what we want. because then i could tell everybody listen, it could be part of your 401(k) . it should be in your i.r.a. >> well, i would take a slightly different approach, i have kind of viewed stable coins as a payment mechanism that would not pay any interest. i don't think people should regard them as an investment vehicle. the question is will they be useful in payments? most of us think of the payment system as oh, that seems to be fine, right? i have my credit cards and mobile banking. what do we need anything else for?

the truth is the u.s. system is more expensive than what other countries have developed all over the world. you see that particularly with crossover payments and also that burden falls heavily on lower income people, because their checks don't get cleared by the bank. so, could stable coins help? possibly. now, i say that i am not convinced yet, because it is not clear that they are faster, there are some real issues, in terms of making them safe, but i would rather see us develop a regulatory framework that simply says let's hope they go away, because other countries are doing that. we do have people in congress on both sides of the aisles that want to see this is done. but, whether they can reach an agreement is another issue . >> okay, this is what i find to be most disconcerting. there is a coalition that could do something. but, i think correctly the s.e.c. brings enforcement actions.

but, we don't have treasury making roles that feel good, and all the while i have got a guy, today i see there is a fellow sam walton . well, he has got a world coin, and i'm saying to myself i don't know, smart guy, world coin, but not allowed here. i am mystified about how we can get to a situation where the rest of the world seems to have a little bit more together, and our people are being disadvantaged. >> that is the thing, technology marches forward. and regulators are always trying to catch up with it. but, i think in this case you cannot just say well, let's try to keep it out of the box and keep it so it is not connected to the traditional financial system. we do have other countries. europe, the uk, singapore, the uae, creating these frameworks so you can have more dollar- based table coin issue from abroad. that might not happen, but it

could. and you have states that are in a position to license them but that is why i think we need something at the federal level. treasury has called for legislation, but i wish they would make it more of a priority. i have advocated with two other law professors in a way that regulators could do this on their existing authority, they don't need legislation . >> we are not that far away. maybe we need a champion, somebody to champion it. and we can become the leader. let me tell you. lung younger people, this is what they care about. when you ask them about stocks they say we want crypto, but they are afraid. we have to eliminate this fear factor. your methods would eliminate that. >> yeah, and look, i am sympathetic to a lot of people in government saying we are not really convinced of the use case here. we don't really see what the value is in the real world, but sometimes it takes time to really discover that. one thing we have seen, even

from the limited use of stable coins today is it has caused banks to actually look at their own systems and think about the ways that they might improve. i have had that conversation with a lot of bankers. they would say we don't really like stable coins, but we are looking at maybe we can add permission distributed ledgers, maybe we can do other ways of tokenization pixel, again, i think competition is good. and i just wish that we would try to create a framework to best address the risks, even if we cannot perfectly address them. >> i think you are going to do it, you are the leading voice in this, your voice will work. i'm not kidding, i've known you for 40 years. you are the leader in this. i think people will listen to you, there will be banks that listen to what you say, we will get ahead of this thing. we will be the safest place in the world when it comes to stable coins, but we are not there yet. i want to thank timothy massad,

research fellow, harvard school, the man to make this safe . and i think affordable to americans, thank you tim. >> thank you, jim. let's get to the bottom of this, i'm not stopping here, too many young people care passionately. everybody come back after the break . coming up, the regional banks are ising from the ashes of this strange mini crisis pixel, can a group keep on gaining from here? cramer is on the case, next.

♪♪ at morgan stanley, old school hard work meets bold new thinking. ♪♪ partnering to unlock new ideas, to create new legacies, to transform a company, industry, economy, generation. because grit and vision working in lockstep puts you on the path to your full potential. old school grit. new world ideas. morgan stanley. so far this earnings season we have gotten a huge surprise from a once heated regional banks. remember this whole collapse in the spring? silver gate, and signature all went under in march, they never came back. as wall street kept worrying the next big bank would be right around the corner.

here is the proof from first republic in may. even the many banks in crisis, people figure to the regional banks would not be able to make much money. thanks to what is known as compressed net interest. deposits are fleeing to the major banks and the constantly looming recession. by the end of june s&p regional bank is still down substantially from its initial mark. we did not hear anybody say these flocks look like goodbye . but man, oh man, the regional bank etf is up 16.5% in the month of july, including 7 1/2% gains last week alone. so many of the companies management report have excellent numbers, that said, before we get to earnings, the other big driver has to do with recession fears. we are a lot less worried about a slowdown then we were a couple of months ago. same reason the industrial stocks has and able to rally. there has not been another high-

profile bank layoff since first republic. and so with j.p. morgan, more than two months ago , this is encouraging because i would've thought a half-dozen would have gone under if you read the press clippings but the earnings have been huge. last week western alliance, two of the hardest-hit stocks during the mini crisis saw stocks rally, it is astounding, 24 and 19 prepend respectively. everybody thought they would be the next to to fail. last tuesday they supported quarters in line, more importantly they had 7.2% growth, which is the officers of what you say during a bankruptcy. another three-point 2 billion of additional deposits were in july alone. this took fellow traveler pack west with it, you would've loved to have those gains but i would not be surprised if we hear something similar from pacw tonight. a couple of other banks have

gone under close scrutiny like citizens and banko ck formerly bank of the ozarks. some were worried about these two thanks to the conditional real estate. both banks made calming comments about the commercial loan portfolios allowing citizens financial to rally 12% last week. we got results from many of the larger regional banks, the super regionals, as they are known. the truth is these were a mixed bank. back in march i recommended amity because his extremely well-run by the way, that hurt -- sure enough, they reported a massive -- with deposits up 2%. people thought it might be done. stock value down 5% last week, i don't think that is done yet. some of the regional support on the outlook for the coming quarter with the rest of the year. that was the case with a couple of the largest operators like

midwestern powerhouses, u.s. bancorp, and pnc financial. u.s. bancorp had in-line sales to give you a lower-than expected forecast for the third quarter, and they cut the four year --. pnc delivered a 5% earnings for the back half of the year. what is interesting, the stocks were not able to rally anyway. u.s. bank gained nearly 9% last year while pnc was up to 7%. when you don't have to guess, you can actually wait. we saw similar action from cleveland, ohio bank keycorp, which missed representation and lowered most of the four year guidance, but still the stock jumped 12.5% . it was down too much. what is this say about its? it says these banks were all traded like they were headed for truly calamitous numbers, which is why nobody should be worried that they got in for incrementally worse numbers . it matters in the stocks. too many investors said what a

relief, people figured we were in a snow slow rolling regional bank apocalypse. in reality, the numbers are just a ittle worse, in some cases, a little better. i want to flag huntington bank, columbus, ohio-based think that i recommended a few times is fielding the storm because of its strong --. and in-line results, but deposits grew in the quarterback that is a huge positive, a lot of people said they were going to flee. they manage the income growth forecast to account for the environment. the stocks close down on friday, and you can finish the week off. i still like it. by the way, 5.1% yield does not hurt. now, the only legitimately disappointing result i saw as we came was a bank that kind of surprised me. truest financial. the regional bank formed by suntrust for years. they missed earning expectations

, got it down for the second straight quarter. truist was one of the few regional banks that could climb higher, but it was only down .2%. maybe because of the etf, cannot recommend it. darn, i really wanted to . finally, one of the other regional banks, let's take a few seconds to cut myself back for recommending charles schwab in late march, then again in may. even though schwab is an online brokerage house it has a bank within it. somehow wall street became convinced that the portfolio at schwab's internal bank could wreck the entire company. i told you that was insane. there was zero chance of a bank ruining schwab, even if the internal bank finished, the core business would be fine. sure enough they turned in a heck of a quarter last tuesday saying that the cash shorting is turned for deposits in places where they could earn higher. you know, the main part was driving. i thought it was going to get better . schwab stock jumped on tuesday, now 29% from what it

was trading when i doubled down in late may. but here is the bottom line. we have now heard from in critical mass in the banks, including a number of the names that investors were most worried about in the spring. i want go so far as to say that they were not phenomenal, but they certainly did good enough given the ridiculously low expectations. by the way, many of the regional bank stocks are up, they became a lot more attractive now that wall street is giving rid of its fear. and schwab is great as it was with so many fear mongers who turned out to be dead wrong. let's go to jeff in new jersey. >> first time, here wanted to say what a remarkable show you have. i, myself experienced -- in my investments with american express, despite the company's -- top and bottom liner, this -- >> you know what, i spent a lot of times talking to steve, he is the ceo, the at dictations were so darn high that i don't think it no bank could have done

what they wanted. people like mastercard and visa, those are the two people like. i like mastercard more than american express because i felt that the expectations are still too high for american express and has to come down a little more before it finds a bottom, even though i like it very much. dale in florida, dale? mckay jim, longtime listener, kristin cullen . >> excellent. >> my new fiance and i would like to thank you for being such a saint for us retail investors. >> thank you, it is my moral -- i have met some investors in the last couple of weeks, i am not for them, they are not for me, what's up? >> i have filed on the ticket, i am $13, it is up to $53. but i feel it may be at its peak, just want to get, i have a long position on this, i want to get

your take on upstart . >> upstart is an absolute short squeeze, so many people are betting against it, they can only go so far as we saw with game stop and i think you want to go buy yourself a cashmere sweater. i will go so far as to say the regional bank results were phenomenal, but they had certainly been good enough given the ridiculously low expectations. including my exclusive with assistant attorney general jonathan cannon to get a sense of where we stand because it is vital for the stock market. and all eyes on -- why do i think that could be the stake if you're trying to make money? i give you my burning controversial take, and all of your calls with rapidfire. so, state with cramer.

with gold bond... you can age on your own terms. retinol overnight means... the smoothing benefits of retinol. are now for your whole body. plus, fast-working crepe corrector diminishes wrinkled skin in just two days. gold bond. champion your skin. (vo) it's time to switch to verizon. sadie did. and now she has myplan. diminishes wrinkled skin in just two days. the first unlimited plan that lets her choose exactly what goes in it. now she gets to pick only the perks she wants and saves on every one.

and with an incredible new iphone on us, no wonder sadie is celebrating. introducing myplan. get exactly what you want. only pay for what you need. act now and get iphone 14 pro on us when you switch. it's your verizon. become an aunty. book a flight. stay 4 nights. meet the baby. make the baby cry. give the baby back. fly home. silver tier in a single trip. join one key and move up tiers fast.

there last week the justice department jointly released a draft update at the latest merger guidelines representing antibusiness, but others would say it is a return to what antitrust was all about when it began in this country. this is incredibly important for all investors. it is vital we understand what is going on right now. that is why tonight i'm thrilled to have the absolute best person, jonathan kenner, the u.s. assistant attorney general for the antitrust, welcome to mad money. >> thrilled to be here . >> while i have to tell you something, you have been somebody to is not only understood, but creates a little confusion as wall street does not understand what the laws are. i want to quote something from a speech that you gave at university of chicago.

it says i am pleased to report that the patient is alive and well, you were talking about antitrust, and the product is good, antitrust enforcement is on the end, supported by a broad bipartisan coalition devoted to full recovery. what you mean by that? i thought we had antitrust for years in this country. >> [ laughter ] certainly we have had antitrust but let me say i'm thrilled to be here with you today. i'm glad we are talking about this. we have had antitrust in the country, the merger laws have existed since 1914. but, what we are seeing now is that markets have evolved, they have evolved in transformative ways over the last 20 or 30 years, even the last 15 years. think about your experiences with rotors on phones, and stopping to ask for directions, and documents that were stored in cabinets, rather than clouds. what i'm talking about is how markets have transformed. when market realities change, it is really important that we keep pace with the changes.

>> will, the confusion i think a lot of people have is that there is a doctor that has grown up, that really has nothing to do with all of the things you just said . it, the original sherman antitrust law seems to actually address today's methods more than it -- that document was about whole competition, and what has incurred is incredibly anti- competitive pick and you explain how that developed? >> yeah, so, i think that what we have is that in 1914, congress enacted the clayton act, which they since amended. and the purpose of the clayton act is to protect competition. and protect against monopolies, it is right there in the statute. the goal was to prevent mergers or acquisitions that do that. and in order to effectively apply the law we have to start saying okay, how does competition in this market to present itself? and does the merger threaten

substantially lessen the competition? so, i think over the years we have done at times, various different degrees of enforcement, but the most important thing is that we get it right, not just in respect of the application of law, but with respect to how we understand the functioning of markets but i think one of the things that we come back to is today's markets functions very differently than they did months ago. so, it is important that we actually start with the question of understanding how competition presents itself in this market today . >> but, why doesn't have this element, which we have been doing for years, viewed as being antibusiness, by so many on wall street. because what is good for business, whether it is public or private, is competition. yet, somehow, you are viewed as being antibusiness. >> yeah, so, i think, for the most important thing, we enforcement the law consistent

with facts. we apply the law the way congress rooted which is to protect competition. but i will say a healthy, resilient and competitive economy works for everyone . it works for businesses, businesses want the opportunity to compete, they want the opportunity to compete based on the merits of their inventions and the innovations, and their pricing and customer service. that is what we want to do, we don't want to pick winners and losers, we want to give businesses the opportunity. i will say that more often than not, we hear from other businesses, that they want antitrust enforcement. they want the opportunity to compete, they want the opportunity to buy inputs at low prices, they want better opportunity to offer better customer service. businesses are healthy, they wanted to compete, we want to give them that opportunity . >> okay, how do you think about the effect of antitrust enforcement on the incentives of entrepreneurs and small companies to innovate, when one of the biggest incentives to be acquisitions, particularly when

the stock market is closed on innovations? >> so, i think that is the beauty of our country and our system is that new businesses can come up with great ideas, they can start them anywhere in the country, and they can bring those dreams to reality. that is the american dream. that is what competition and competitive economy pursues, it pursues the opportunity to realize the american dream by building your business, by being an entrepreneur. but, that is not possible if markets are closed. it is not possible if there is no ability to enter a market and compete and build a business from the ground up. so, we wanted to protect the competitive process so that businesses can realize is innovations . >> i am concerned that there are different nuances that do hurt it. we talk about dominant position, not just position, things that are highly concentrated, we don't know what those definitions are. and, yet, we want to make it so that they are built competitively.

how do we know when we reached too far? and how many of the deals has the government approved in the last decade that you would still approve? >> so, it is hard for me to go back and comment on prior deals, but i can say the following. the courts have weighed in on where those thresholds live so, the word dominant is a word that shows up in court case after court case, in highly concentrated markets, something that the supreme court has set out pixel, issuing these guidelines we have looked at the law, we understood where the supreme court and the courts have said those levels, then we explained that to the public, that that is what we are going to use when we investigate, so there is predictability and there is an opportunity for the public, including businesses who might be bridging to understand what the framework looks like . >> i have to tell you, somebody who studied his 40 years ago, i think you are a lot clearer than what we currently have. thank you for coming on.

jonathan kanter, for antitrust , an important person when it comes to antitrust right now, and perhaps where the stock market is going to go. we will be back after the break . coming up, cramer takes your calls, and the sky is the limit . it is a lightning round, next. book a work trip. earn onekeycash. shake some hands. do not forget to laugh. [laughing] book a get-away-from-work trip. use onekeycash. order some sides. do not disturb. join one key to earn and use rewards across expedia, hotels.com, and vrbo.

i remember being on aau trips, high school games. my mom would always say, "you need to fuel the body and you need salt." i would always be the kid not cramping, ready to go. fast forward 20 years and i go from eating salt out of my palm to drinking lmnt.

lightning round sponsored by td ameritrade. it is time, it is time for the lightning round, playing in simple, the lightning round, are you ready steve?

david in texas, david. >> high jim >> i watch mad money every day, thank you . >> thank you, how can i help? >> i'm calling about fda approval for the drug, the company recently named most influential companies in the world. why -- and crv not going up? >> the stock is losing money hand over fist. i wrote an article about it several times when it became public. i am mystified by why it's not doing better despite the fact that it has something interesting. i do not think the company is well-run. let's go to jim in arizona. jim? >> a, jim. i have a question, i have at&t, i've been hanging onto it. i don't know if i should just walk away from it picks walk away from it, the company is poorly managed. let's go to reagan in florida, reagan?

>> hey, jim. i wanted to ask about -- and what you think of them going forward, especially what is going on -- >> i am not a believer in uranium, i still think that the stench of 3 mile island and what happened with the southern is going to make it so anything is going to change. i do not want to be associated with uranium because i don't think it has any staying power. let's go to andrew in new jersey, andrew? >> congratulations on your success, go easy on david in the morning, i felt that for him . >> he's annoying to me. i like his mother, she's terrific. i know what is with him. i like all docs, but that dog is i don't know, go ahead. >> -- to auto, there was a company called med tech licensing all of the mapping data to anyone who wanted to put it in a software, a good investment in the 2000 >> i think right now that the

sports data providers, specifically -- uniquely positioned picks, only recommending draftkings because i want companies that make money now. when that company turns a profit i might look at it. losing too much money. how about in a new jersey picnic? >> jim, thank you for having me on. i'm calling about the advanced lithium battery technology, u.s. army contracts like it, what is not to like? >> well, it is losing money hand over fist. these things that i'm trying to emphasize it that there are so many companies making so much money. i do not want to reach lower and be with companies that are losing money. that is not good. let's go to pat in washington. >> is packed speaking to me? i cannot hear. >> hello? >> what's up? >> well, this is jim, i've been

listening to your program, i like your opinion, and idea on verizon. >> i'm very tortured by verizon, i think it is one of those companies that has a very good product, but is just not doing well enough and has no growth, that's why i like t- mobile even though it does not have any yield. yield is not protecting people from decline. let's put it in in pennsylvania . >> hey, big fan, thanks for having me on. my question is about slb . >> what a great company, this is halliburton, has also been very good, there's no flaws in it, slb is willie well-run, and i would recommend the stock. that is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. coming up, is all the focus on the federal reserve overdone? cramer shares his thoughts on all the obsession around the central tanks every move. next.

♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪

♪

why did our obsession with the fed fail us this year? at least from the perspective of money management? that is essentially coming up with the head of the bed being

winsome, they want a moment where all eyes are on the fed, but -- if you are trying to make money in the stock market, as we are. first it makes sense to focus on the previous years because of its unpredictability. -- feels uncertainty, uncertainty fuels -- so, we have plenty of reasons to have more coverage, but this country turned out to be very different. other than a handful of rookie errors, it has been pretty flawless, extremely predictable. the fed up session became a misdirection. don't fight the fed which is normally good advice only work for the bulk of last year . is the ball you made a lot of money if you bought the fed by earning stocks that don't normally work at this point. second, running with that poin , this year we had a cornucopia of winning stocks that make little sense historically, the industrials began the big rumble to take it out last fall. normally when the fed keeps tidying, the industrials get crushed, did not work this time because they believe it is not just the economy, but the rapid adoption of --, so adept at

avoiding the slowdown this time around. they caught fire thanks to the combination of chatty gpt and cross cuts, apple and nvidia were the exceptions . nvidia have the holy grail of the right chips for regenerative ai at the right time, of course they wanted to get endless warnings about what was coming, but it finally came to fruition with chat functionality in late fall and early winter. and has not look past since. -- 10% of the economy punches well above its weight, the thinking was that higher rates would crush numbers and that would crush the economy, that's always been the case. but the under supply, chronic under supply of housing and the lack of a big whiff of mortgage rate did reward those who said it was different. the mini banking crisis did not turn into something bigger thanks to the treasury department, it turned out to be another buying opportunity .

since nobody substantially went under like that and beyond, -- were just too strong. even commercial real estate. all of this have left the fed watchers in bad shape because they follow the conventional wisdom, conventional wisdom cannot get you out of huge gates. despite that i expect nothing to change. we are playing the part of the game up one and done or when in two. for those who are patient and have some cash, we are going to to purchase stocks in this various moment, something i expect given over what the market is. that said, it will be hard because the people want to talk about the fed and are adept at making sure that everything else is superior palis, including making money. of course, if your job is to help people try to make money, you have to accept that the media want to change his ways. i want either because miller by an opportunity based on the fed obsessed gas buys who would rather die than dirty their hands researching individual

stocks for which i have two words. thank you. yes, i am thankful these ill advised strategists exist, they create by an opportunity for those of us who are willing to do the homework. they say go ahead, even this week. -- here on mad money, i am jim right now on "last call," x'ing we alone musk. will he successfully pull off twitter's rebrand? uh-oh. oil prices on the rise why they could go a lot higher from here. the real numbers behind student loan debt and why the economy just might be okay call it streamflation. guess how much more you're playing for all the services you use. it could make jerome powell blush. plus, make it mondays. th