amd to be a seller. >> you folks with the eagle ears heard frank sinatra's "luck be a lady." stephanie had a plan which is fantastic. ibm, i like it. >> by the way, meta down 1% after hours. stay tuned 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 make friends. i'm just trying to save you a little money my job is not just to entertain you, but to educate and teach you. so call me at 1-800-743-cnbc newsom or tweet me @jimcramer. so this guy comes up to me outside the exchange, down there, hey, "mad money" money, what's going to turn this market around i thought for a second, and i

said don't worry about it. it's all going to work out talk about a punt. that young man deserves better you know what? you deserve better so let me give you some answers about what can turn this darn thing around for real after a hideous day. dow only 105, only but the nasdaq plummeted a bone crushing 2.43% >> the house of pain >> that's awful. look, as i tried to say last night, this is not a good market i know you don't need a weatherman to tell you which way the wind blows think about yesterday. i tried to say everything good right now is merely a trade because stocks have become divorced momentarily from the fundamentals of individual companies. a bunch of big-name stocks who rallied on good earnings yesterday, not because of the results, but because they reported on a day when interest rates, they sure weren't today, they shot up like a darn musket. rates should not be tame interest rates should and are going higher we have too much bond supply

too, many sellers, and too much hot economic data that makes it more likely that the fed will keep tightening. and of course selling bonds itself so for the moment, you can't trust the stock prices that you see, or at the very least, you can't assume that they have much to do with the underlying company. in fact, if you want to know the direction of your stocks near term, you would probably be better if you sold the census bureau for the sales data or the treasury department for how many bonds it needs to sell, or the oil market for the price of crude oil that were more important than any earnings report i saw today, with the exception of microsoft, numbers that said its stock could rally 3% then again, maybe it's a nation unto itself. let's play it out. let's say you happen to just nail a company's earnings perfectly. [ applause ] maybe boeing reported nice upside surprise this morning the stock jumped four points when the market opened yes! and then it closed down more than 4 bucks at the close. no the initial rally was about the

fundamentals but the horrific decline is about a sudden spike in interest rates from a lousy bond auction that the treasury threw to pay for the humongous budget deficit and stayed down when oil spiked, which is always bad for boeing in this market, everything is a trade. boeing couldn't even rally for an entire morning after reporting a tremendous quarter, let alone the hole day which brings me to that young man on the street down there who wanted to know what will turn things around, the one that i punted, told him don't worry about it he deserves that adequate answer we're going give you the adequate answer. but to do that, we have to delve not just into stocks, but we have to delve into bonds i know for many of you the bond market seems a little opaque, not just a real snooze-a-thon. i don't want to go inside the yield curve tonight and put everybody to sleep, but just like stocks, bonds trade on the fulcrum of supply and demand it's a market. the united states has a big

deficit market that it constantly borrows money it does that in the form of an auction. today the treasury sold notes in an auction and demand sagged causing its rates to go higher let's say you own the stock of am and apple went out and issued $52 billion more in new shares you know it would be a tough sale sell. the stock would get hammered that's what happened to the bond market too much supply all at once, and that supply can't find a home. it just can't. look at this thing it's looking for a home, it's looking for a home hasn't found it yet. all this has a subtle impact the yield on the five-year action didn't spike much but the yield on a 30-year response did why? because we know the government will keep issuing more and more pay -- >> sell, sell, sell, sell, sell, sell. >> and there is no appetite. there certainly won't be an appetite for longer term bonds especially since they have even lower yields right now what can allow them to stabilize? let's go down the list to be a little simplistic, we need to see more buyers than

sellers in the bond market at these levels we seem to have more sellers than buyers look, we don't just have the treasury selling bonds, we've got a constant supply. we have the federal reserve selling bonds, part of attempt to stem inflation by cooling down the economy, sucking out all the liquidity. we have foreign governments selling our bonds, including tons selling from china. they have a $8.5 billion position in bonds. they could sell them all for all i know what could change this dynamic first, bond price. if bond yields go higher and higher, prices go lower, many come in and buy them i've been saying over and over again, once the 30-year yield 6%, count me in as a buyer but it's a little over 5% now. we have a long way the go. second, how about data we need weaker economic data, not stronger weaker that would allow the fed to stop raising rates, maybe even cut them that would give us a big break in the bond sales. but we keep getting strong data. today for example with mortgage rates at 8%, we got shockingly

robust new home sales. 12.3 better than the previous month. sure, median and low prices have fallen down from 477,000 that's good. but not good enough. until home sales crater, the fed has no reason to feel confidence winning the war against inflation. which brings me to the third thing that could turn bonds around some large layoffs it's terrific that we have an unemployment rate of 0.38% if you want to see rates do gown, talk to me when the unemployment goes to the mid 4s, maybe even 5 when we interest rates are going to keep rising thousand how we get to 6 we can have the one-offs, the decline in gdp, going lower, consumer price index going lower, they all matter but you tell me where unemployment is going, that's what really determines it. you tell me where it's going, i'll tell you where the stock of boeing is going. it's much more important for the stock than the terrific conference call. if you want to see boeing

stock's soar, we need to see fewer jobs created, more people laid off which leads me to the fourth way. we get osome level where it doesn't make sense to sell stocks because stocks can actually be cheap. even regardless to buying meals. that happened in the 90s that's 1990s, not 1890s. we're obviously not at these levels yet, or a stock like boeing would have rallied all day. the bond market can once yields or stocks get attractive in price, both, achievable nirvana. when we get to the lower price level the market will be really oversold, it's pretty much there right now, will it can cause a bounce of its own. we are indeed oversold fifth, we can have -- flight to safety is the way they call it, where there is so much turmoil overseas like we have now that people rush to buy u.s. treasuries because despite all the craziness in washington, the combination of strong dollar and lack of stability anywhere else, they make our bond market seem

like a lovely place to be, especially at 5%, up from 3% not long ago we're not there yet. bottom line, from the perspective of the stock market, we need all these five to happen, all of them. this seems to be happening right now. but we need to have mass layoffs, geopolitical turmoil, all these things will eventually create an investable moment, young man down here on broad street until then, though, even the moves of the best stocks are just a trade let's go to joe in new jersey. joe? >> caller: mr. cramer, thank you for taking my call >> absolutely, joe what's shakin? >> i was told you should invest in companies that you use. >> okay. >> and i'm a lot -- i own a lot of john deere equipment. is john deere a buy? and by the way, nothing runs like a deere >> look, i got a gator i totally agree with you let me tell you my problem if i say it's a buy, it's at 371. that's a lot of points

so let's say it goes down the 340, we'll be like cramer is an idiot. i don't feel like being an idiot. here is what i'm saying. i think deere is a great long-term investment because we have a long-term view that we got to feed the world. deere is the best there is i say buy some and wait. interest rates get to 6s, you'll be able to buy that's the new plan. that's what we're going to do. how about we go to nick in florida, nick? >> caller: good afternoon, jim >> hey, big guy. >> caller: i have a question about broadcom. >> sure, i'm all over it >> caller: will it still go through at the end of the month without china approval or will it be another intel tower semi-conductor broken deal >> it can't go through it can't go through out chinese approval, it can't that was supposed to happen by my wife's birthday, which is coming up here real soon but it doesn't look like it's happening. but i can't tell what will happen if it doesn't i know this, broadcom is an

inexpensive stock and hok tan is an excellent ceo and he will buy that stock hand over fist if he doesn't get his way with china i'm going to keith in my home state of pennsylvania. keith? >> caller: hello, mr. cramer, how you doing? >> i do, and it was greatly disappointing. but hey, that's philly for you sometimes. >> yeah, yeah. that's true. >> caller: hey, well, mr. cramer, i was wondering if you could give me some wisdom and insight into etsy? >> yeah. >> caller: you recommended it a couple of months ago, and it's been continually in the house of pain will things turn around for the company? thinking is a great question, because i think the company itself, down almost 50% represents great value i think josh silverman is an excellent executive. in the old days when we used to have takeovers, i would have said someone would have bought it here. i'm not going run away from etsy because i think it's one of a kind that said, one of a kind stocks go down too in this kind of market, at least for now the market has become laser

focused on interest rates, not earnings and it's causing stocks to become divorced from their current fundamentals until that changes, well, any move, it's just called a trade "mad money" tonight, trying to get a read on gdp growth in the snus well, as i told you earlier in the week, read between the lines durning earnings season and get a sense of where things are going. wgm, changing right now. mattel had a smash whitt the barbie movie how will that chance late to holiday sales? i'm getting a preview. and strikes to higher auto interest rates, why don't we check in with lithia to get a sense of how things are unfolding in that corner of the market so stay with cramer. don't miss a so effected "mad money." follow @jimcramer on twitter have a question? tweet cramer, #madtweets send jim an email to madmoney@cnbc.com.

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at the top of the show, i laid out a series of things that need to happen before the market can sustainably go higher. i rattled off a bunch of variables about interest rates that could make go higher too. but some stocks, rare ones can withstand the graphtational pull of interest rates even on an ugly day like this we saw wit microsoft and a company called wm. that's the outfit formerly known as waste management, which had a tremendous quarter how could a company that is so sensitive to the economy deliver surprisingly great numbers in a world where the feds are relentlessly trying to cool things off

why don't we find out by talking to the president and ceo jim fish welcome back to "mad money." >> how you, jim? >> well, jim, i'm astounded. there was a time when you and i or your predecessor mr. steiner might have talked about how many cities are there where there is building, how much new waste is there from a housing development. this is a story of transformation it's a story of automation and it's a story of the money that can be had by being a good corporate citizen with renewable natural gas. i'm going to turn it over to you, because this is not waste management this is wm >> well, you're right. we've change kind of the marketing aspect of it a couple of years ago during the golf tournament, somebody asked us aren't you trying to become synonymous with sustainability, and we thought, you know we are. why don't we call the company wm instead of waste management. but we're excited about the quarter. we're excited about the top line was a little flat.

we thought it would be for the year so i've been focused on the middle section >> it's important to put it, this is what i wanted to get at. the top line did not rule here what ruled is the expansion in margins. what knocked my sox off is when tara hemmer, your sustainability officer said there is $500 million projection ebitda for renewable energy this is an extraordinary thing i remember going to the camden, new jersey pump of natural gas and thinking this is a boutique operation you guys are running is probably one of the most profitable operations i can recall seeing in corporate america. >> well, and it's gas that's coming to us any way these landfills by their nature create gas and what we've done over the last year and a half is start to convert that into renewable natural gas. and of course we have a natural gas fleet, about 75% of our routed trucks each day are running on natural gas so it really creates this full circle for us. but you're right it's very profitable

there is obviously some construction involved. we're going have 40 plants, not all natural gas, but 40 construction events ongoing next year at the same time. we're excited about it >> also, because of automation, you're actually bringing down the costs of your basic business while churn is almost nonexistent. that is a level of leverage that very few companies have in america. >> well, jim, we've talked about this before, and that is that this trade group, the folks that are willing to fill these trade type positions, that group has been shrinking over time in my grandfather's generation, probably half the folks in that generation were truck drivers. and in today's economy, you're seeing this kind of shrinking trade group. and we've been seeing it coming for probably five or six years so we said what do we do to take advantage of that, and we started using technology and our own natural attrition. so when some of these positions

freed up, we used technology to replace them instead of just back filling them as we used to do. >> you gave us some data that is really hard, empirical analysis. in the third quarter we saw materially lower labor costs per ton at our automated facilities at about 35% below the rest of our recycling network. how is that possible >> that's right. >> how is that possible? >> so when we rebuild these facilities, and i'll give you an example, we used to have an optical sorter, maybe one or two optical sorters at one or two of these recycle plants now we have between 20 and 40 optical sorters. what hatches is you don't need as many physical supporters. you don't need as many people there. those jobs, by the way, turn over at about 50% per year in theory, you could replace all of your sorters in two years' time but when we rebuild those plants and we put all this technology in there, we don't need as much labor. and it's okay because those folks have left and gone to another job somewhere. and we've just chosen not to refill the position. >> we also watch your ads, those

of us who watch sports, see a plethora of them and i was with someone who said that's a phony thing they've got some lifter that takes the place of a human on a waste truck. i'm seeing automated 141 residential roots and have a target of more than 400 roots in 2024 this is, again, something where you're taking the cost out, and it's rather dramatic >> i think we've got more than just the 400 that's just, you know, we're going take another 400 trucks, delivery of trucks next year, those automated side loaders, and we're replacing those traditional rear loaders which we saw running around our neighborhoods as kids with the person on the back now we're replacing that person on the back -- and by the way, it's another job that had almost 50% turnover to it it's hard job. so when we have somebody leave as helper on the back of a truck, we're just simply not replacing the position, and we're adding an automated side loader that is run by a joystick >> that's incredible

also, i think people should realize when probably the first three or four months when you hire someone new, you don't really get your worth. you're training them so it's really hidden how much you're saving, because it's kind of dead weight loss when you hire a new person initially. >> that's right. and our training costs, part of the improvement in op x for third quarter was a reduction in training hours we had a pretty big ramp-up in training during covid, and that has come down dramatically over the last two quarters. certainly in the third quarter r >> what happened if you grew at 3, 4%, which we know is possible because you still have an element of gdp growth here >> i think it would be certainly a positive for us if the economy was growing at 3 or 4% we just don't see any huge optimism as we move from '23 to '24. i'm not sure i've read a single report that shows '24 is going

to be better than '23. but there will come a day, maybe '25 when the economy is growing 3 or 4% again and we'll be a beneficiary again of a high-growth economy. right now with a kind of flat gdp, we're working on the middle as you and i just discussed. >> is there a way for people to understand the power of this natural gas franchise? it was kind of like copper versus gold where copper was a by-product of gold it turns out there is gold itself i felt when i read this, i really have to start model what you're doing in renewable natural gas to figure out how well you're doing. >> the plan -- we've been capturing natural gas, or capturing gas out of these landfills for many years this isn't something that we just discovered in the last two. but what we have changed to over the last couple of years is instead of just capturing natural gas and putting it into a gen set that turns it into electricity, we're actually turning it into renewable natural gas. and we have the ability, as i

mentioned because of that natural gas fleet, to generate these ren credits and then sell those ren credits, and they're very profitable to sell. the value of those has gone up fairly significantly over the last six months. we'll try and get our hands around what we think the value is going to be for '24 but they are very profitable for us and in addition, we're producing gas that we can put into the pipeline >> look, it's a complex story that does hinge on the fact that you're just a much better operator than you used to be and that's why a lot of things flow you were a good operator before, but you've really finished it out. i want to thank you, jim fish. you gave us some fun today your stock is up 9 the rest of the market is terrible it's great to see you. >> good to see you, jim. >> thank you "mad money" is back after the break. coming up, it hasn't been all fun and games for mattel will the barbie-powered earnings report put the toymaker back in the dream house? cramer's got the ceo, next [ heavy breathing ]

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♪ that barbie, you know it was a huge hit this summer now investors want the see it. that could fuel great numbers for mattel sure enough, mattel reported tonight and offered conservative guidance on what i thought was a very good set of numbers, but i think the guidance didn't capture the long-term value that is being created here. hence why the stock actually traded down on those terrific numbers. i got to ask, is the market missing something? i think it's worth a close leerk. let's check in with ynon kreiz, the chairman and ceo of mattel mr. kreiz, welcome back to "mad money." >> hello, jim. great to be with you again. >> congratulations on what i guess is the cultural sensation of the year, both movie, and yes, of toys i wanted you to give us a longer term impression because the stock is trading down for all these things that wall street gets right or wrong. long-term impression of what the

intellectual property of mattel means now that we've seen the success that it can have in movies . >> well, let me start by saying this was a very strong quarter for mattel our results exceeded expectation. we showed meaningful sales growth in market expansion with very strong free cash flow our consumer demand grew, increasing the quarter we continue to outpace in the industry, and it was breakout quarter for our entertainment strategy, benefitting from the incredible success of the barbie movie. so all in all, we are very well-positioned competitively. we expect a strong holiday season and gain market share in the fourth quarter and the full year and clearly, the barbie movie was a big driver but this is not just about one movie or just about barbie it's about the holistic tragedy to capture full value from our intellectual property, and we're executing on this strategy >> okay. you know, i totally agree with you, and i've been on board

since, i don't know, let's say high field digit, low double but i do know i have to be cognizant that people are selling the stock right now. i want to tell them why they're wrong, but i don't want about the person who does it you can. you have said the expectations are for a certain amount that may have to do with, say, the economy, may have to with christmas selling, hanukkah, the holidays, whatever but it's regarded as being tepid, your forecast i think that this is a big mistake to regard as tepid okay, look at the success you had. look at what you could do with hot wheels i've got that on the table look at pictionary you've got so many different -- i've got some behind me too. i see ten movies here. and that's what you told me would happen five years ago. >> we've been executing our strategy very consistently we increased our guidance for the year we continue to execute well. we grew sales and grew pos in the third quarter year to date, and we expect to continue to grow consumer demand in the

holiday season in the fourth quarter and the full year. and continue to outpace the industry the company is performing well across category, different pay patterns, different price points we're entering the holiday season with more retail support, more shelf space, more representation in major catalogs for the holiday season and increased advertising. so we're very well-positioned competitively, and we're seeing demand resonating for our brands and this is not just in the adults category, it's also in vehicles it's also in categories that are all adrenaline by strong brands. and what we are doing, we are executing consistently on the toy side of the company. and prior to that, we're growing outside of the toy aisle given that we're one of the strongest portfolios of children and family entertainment franchises in the world, our strategy is serving us very well, with the barbie movie being a showcase for what we

bring to the table, how our brands resonate in culture, how we attract, collaborate, and amplify top talent, and how we can market product outside of the toy aisle very successfully. >> as you predicted, you told me, told everybody, go see the movie. the movie was unbelievable what did i walk out wanting to do have more barbie movies. can we have more barbie movies >> well, we are here to build film franchises. and talking beyond the barbie movie, this is about how do you take successful brands and execute anni p tragedy across multiple verticals, highly accredited verticals that in some cases are better than the toy industry, all driven by big franchises and the success of the barbie movie is a showcase. we don't say that every movie will bes a successful as barbie, but we intend to apply the same methodology, the same approach, the same capabilities. and with 14 movies that we've

announced, we're well on our way to executing our content strategy, as well as our television activities, digit at the experiences, consumer product and merchandise, live events, parks, and many other opportunities to continue to engage with consumers, that in our case are not just people who buy product, they also are fans. >> that's right. >> that's where the opportunity lies ahead. >> well, why was hot wheels so strong, do you think >> hot wheels is an incredible, incredible franchise it's on track to achieve its sixth consecutive record year. it grew at 19% in the quarter. and we just continue to innovate with more product lines, more execution. we expanded into skate and rc. and seeing tremendous opportunity ahead of us with another movie that we're now currently developing with j.j. abrams as producer to bring yet

another exciting brand to the marketplace on the big screen. >> so which of these are -- why don't you tell me what you think is going to be the hottest we're not that many days away from the big holiday season. you have a better command of it than anyone here what are we going to be buying >> well, we have a lot of exciting stuff, exciting product. barbie signature is just released a ted lasso doll which is very exciting product but we're seeing the spirit halloween barbie costume being a top seller the barbie dream house and fashionista assortment is also a great seller out of the movie, the barbie margot robbie doll is also going to be a great item for the holiday. and of course the hot wheels basic car assortment and the five-car pack assortment a great product to look out for. and watch out, uno, also great product coming out of mattel

and what we do, our job is to take brands that are timeless and make them timely and relevant to culture. and much of the success of what we've achieved on the toy side of the companies as well as the barbie movie is resonating with culture. and to think of people who buy a product not just as consumers, but as fans that have an emotional connection with your brands >> right and that's why i think that when we look at a stock price, we're really missing the big picture you're redeveloping a culture phenom that was from my childhood, from the kids my year and you're making it so that people are thinking, wow, this is a new very exciting brand and you're taking it and transcending and making into it the entertainment company that you told me it would be one day when i laughed and said it's a toy company. it is an entertainment company, isn't it >> we continue to grow and expand, and we have a very clear strategy to continue to grow our ip-driven toy business and

expand our entertainment offering and become a true platform. >> right. >> that leverages brands across multiple categories. and the analogy that we used to refer to, and you remember that, was marvel. >> right. >> it used to be a comic book and expanded to what it is today. we start the journey as a toy company. but the opportunity is very exciting and we continue to execute successfully and the barbie movie is a great showcase, a great template to how we see the opportunity in front of us. >> well, that's an amazing analog i'm going to leave it at that. that's exactly what i was trying to get at. i want to thank ynon kreiz chairman and ceo of mattel you bring a lot of joy i love it. >> thank you, jim. >> "mad money" is back after the break. coming up, these days, the legwork in car buying is in the consumer's hands >> it can make buying decisions, selling decisions, financing decisions, and everything right at their fingertips. >> can this turnkey auto group put investigators on the road to

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oh, this is a disconcerting time for the auto industry with a serious strike that shirting business and higher interest rates that is crimping car buyers lithion driveway which runs a new and used car dealerships their same store sales came in better than expected they also learned $9.25 a share. analysts were looking for closer to 10 bucks. the stock plunged 6% today when we look under the hood, this is more of a mixed nuance quarter because of all the negatives, though, i keep

referring to about wall street, they weren't going to give the benefit of the doubt any way most important, though, there is a lot to learn from these guys about the auto industry and how it's doing right now we had the chance to speak with bryan deboer, the president and ceo of lithia and driveway earlier. take a look. >> mr. deboer, welcome back to "mad money." >> hi, jim good to be back. >> oh, thank you, bryan. look, we've got a pretty robust economy. we've got very good and low unemployment is that why your sales continue to hold up, despite the fact that we hear so much woe is me on wall street >> i think that's fair to say. the market actually is quite resilient, despite interest rates climbing almost 200 basis points our manufacturers keep adjusting their financing incentives to make it more affordable for consumers. i think most importantly, lithia motors sells zero to 20-year-old cars that keep people within the

lithia and driveway ecosystem quite nicely. >> let's talk about the process of buying a car. at one point i always thought people would go, as i did not that many years ago with my daughter to medford to one of your lots and make a decision looking at cars. it does seem, though, you have correctly identified the omnichannel is the right way to do this. how many people are starting at the driveway portion of your company before they go buy >> it's almost three million consumers a month that are starting in the driveway portal. there is also another 700,000 consumers a month that start in our green cars portal, which is the largest edge asianal sustainable transportation website we believe independent in the united states, outside of maybe tesla or a few other main factors. >> had you not gone technologically and taken this leap, what would lithia sales look like versus what they look like now >> oh, gosh, i think more

importantly than that, it's about the transparency that our consumers are able to achieve by going digitally where they're in control of the entire environment. they can make buying decisions, selling decisions, financing decisions, and everything right at their fingertips, sitting in their own living room, which is quite nice >> so therefore, it makes sense your expansion plan is really kind of on a platform, as we often talk about with technology companies. you got a platform, the lithia platform it seems to even work in the uk. once you've got it down, it really does demand that you keep buying more dealers. >> it does the design is conducive of that, that's for sure. in fact, in the uk, we just recently signed a transaction, and we're really looking forward to the partnership with pe pendragon which brings us our own system some day. to further those experiences with our consumers, we really believe, to be able to tie this

different ecosystem together, it's imperative we have our own technology to deliver that directly to our consumers' driveways. >> let's talk about the perception versus reality. the perception is created in your business by we read these endless articles the worst defaults in 30 years, the highest number of people having their cars repossessed. but then i look at your numbers, and, yes, you had a little bit lower earnings but you had great sales. that's what i look at. and i would say maybe those figures could be maybe misleading about the health of lithia driveway. those numbers would indicate you really can't be making all this money. >> yes, i think when we look at what's happening in the current environment, most importantly, the marketplace is robust. and i mean, our same store sales increases and new were up 5% used were down little bit. but inventories are quite tight. when we got almost ten million units of new vehicle sales over the last three years that aren't

there to become used vehicles now. and that's making it a little bit tighter. but ultimately we is still have situated elevated use on the used car that keep the profitabilities nice and high, and we're still looking for great productivity increases coming from personnel as well as the technology really being able to help our associates meet those customer demands in a lot easier way >> well, let me dig down more. the fed has repeatedly raised rates. you said there has been ac accomm accommodations at a certain point, we have to have more people having their cars repossessed something we should worry about if we own the stock of lithia driveway >> i don't think you have to worry about that in terms of driveway finance our loss expectations were really neutral where they were sequentially last quarter, which is great more importantly than that, we're pretty good about being able to move people up and down the price bandwidth on the

vehicles they're purchasing to hopefully keep them out of those situations and keep them driving back and forth to work >> and i did need to know, when i look at your own balance sheet, do i need to be concerned that it's difficult for you to bundle your loans and then sell them in the open market? >> no, we're really to a systematic selling of our securitized debt, which is attached to our loans. we've done three securitizations so far this year and expect another one in the next few months but it's relieving our cash flow so we can really focus on m&a, which is quite nice going forward, because there is a lot of opportunities still out there. >> it's very clear your strategies rewarding shareholders the stock has been a real win their year i can't claim that about everybody else in your segment, by the way but a lot i think is your decision to take risks, take risks and buy more dealerships at what i guess you've obviously must think are reasonable prices created by all the negativity. >> we do

we were pretty darn disciplined. we bought $3.8 billion in revenue so far this year with the pendragon acquisition, we'll be almost $8.2 billion so it's going to be another full year of acquisitions with good outlook going into the future to really drive towards that $50 billion expectation that we've set for ourselves and beyond >> well, look, you're a man of your words the $55 per share eps target seems to be right too. and in the time since we've known each other, it's just been a very, very good situation. i want to thank bryan deboer, the presidented on ceo of lithia&driveway. thank you, brian good to see you. >> great to see you, jim >> "mad money" will be back after the break. coming up, cramer takes your calls, and the sky is the limit. it's a fast fire "lightning round," next

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it is time, it's time for the "lightning round"! you've -- [ buzzer ] and then the "lightning round" is over. are you ready, skee-daddy? time for "lightning round. i want to start with peg in ohio peg? >> caller: hey, jim! >> how you i am good. how about you? >> caller: good. i know there is a bull market somewhere, and i missed out on the early days at tesla. so i want to know what you think about rivian automotive. >> i got to tell you, peg, i like rivian. but it is losing so much money that i think they have to do more financing than they've done we're going to wait until the second financing before i can actual the trig owner rivian

tiler in california, tiler >> caller: hey, boo-yah from california how are you doing? >> i am doing well how about you? >> caller: i'm exhausted today. >> yeah. >> caller: i'd like to know your thoughts on schlumberger >> slb reported a remarkable quarter. i would buy some here, buy some a little lower oil reverse was 82, went up to 85 this company had a great quarter. halliburton too. joe in ohio, joe >> caller: hey, jim. i'm looking to invest in an auto part company. >> okay. >> caller: and genuine parts company. >> it's a good company it has a 3% yield. have i seen this yield as high as 5% because the stock has been lower. i think it's too early to commit to the level by the way, i do like autozone that continues to buy back stock left and right as we mentioned today on our home stretch for club members how about lee in virginia, lee >> caller: yes, calling from lexington, virginia. last home of robert e. lee. >> okay. >> caller: come visit us, jim. >> i like virginia

nothing matter with that. >> caller: going on in the mountains. we'll show you around. >> okay. what's happening >> caller: it's hr, good management, good product. >> it, but it's an expensive stock. and in this market, we have to be very, very careful, because stocks are being divorced from the fundamentals and anything too expensive, it becomes in the thrall of the bond market. that's the problem with aehr teresa in kentucky, teresa >> caller: boo-yah, cramer for taking my call. >> my pleasure. >> caller: i just wanted your opinion on my stock. it has gone down $40 in the last two weeks on no news i hate to give up on it and want to know if it's safe to go back and lower my spaces or just hold or -- >> okay. and what stock >> caller: i'm sorry, the stock is tsa >> yields 5% it's just trading like a bond. if interest rates go to 6%, down another 15, 20%.

i want you to wait until 200 that means your next buy will be meaningful and not until then. that's what we teach in the investing club all the time. your next buy meaningful paul in pennsylvania, paul >> caller: how you doing, mr. cramer. >> i'm doing fine. how you doing, partner what's up? >> caller: my question is covering some of the wildfires what do you think about getting in on some hawaiian electric, he >> that's an interesting spec, i have to tell you but it is a spec as long as you know is nothing but a spec, then i think you'll be fine. but if you think it's some sort of investment grade piece of paper, i got bad news for you. it ain't so that's the way i feel about it let's go to jeff in california jeff >> caller: hey, jimmy chill, hey, you know, i'm a real numbers guy, jim, and there is a stock that hardly anyone talks about, but the numbers are great. i just need to know when to get in the stock is called trade desk. >> that's jeff green we think the world of jeff green. he has helped us immensely

i agree with you it is a terrific company the stock is rich. this stock market didn't have a tolerance for that i would buy some and wait for the stock to go lower. and that, ladies and gentlemen, is the conclusion of the "lightning round"! >> the "lightning round" is sponsored by charles schwab. coming up, the white house has drawn red lines in two key regions. how will they impact stocks? cramer considers, after the break. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute

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we've got red lines all over the place, and we can't ignore them, as much as i love to never worry about this geopolitical stuff. when our government draws a red line, it's because we're trying to make sure that whoever we know we're warning knows we mean business the white house the drew not one but two red lines. we warned iran if it were, i'm quoting, proxies to attack u.s. personnel anywhere, make no mistake, we will defend our people, defend our security swiftly and decisively, quote. to me the words from antony blinken put iran on notice they mean that unlike when a young iranian theocracy held our embassy staff hostage for 44 days back in '79 and '80s our

government will fight to protect our team it's a reminder that iran shouldn't get too involved in israel's fight against hamas at the same time as john ellis pointed out we're drawing a red line against china, this time in defense of the philippines our government renewed a warning to the people's republic of china not to mess with our long ally in the south china sea. according to our government, that area belongs to the philippines, but china keeps pushing, pushing, pushing, pushing the boundary of what it owns now that they have an actual navy. now they want to snatch an entire country and taiwan. even if it makes clear our country would go to war against any arm attack against the philippines. that's obvious maybe our leaders feel the chinese need a reminder. i don't like these kind of worries more than you do i want to talk about t-mobile and alphabet and microsoft, for hempb's sake but i don't think people are paying enough attention. perhaps because we're so focused on the ongoing conflict between israel and gaza.

that's especially true for investors as wall street seems totally oblivious to these new red lines. this is not mad foreign policy, but it's a show that what could go right for stocks or wrong you own stocks and my charitable trust owns stocks. we're realists observing the world and trying to factor things in, including red lines why? because you never want to be blindsided by something that could seem obvious later, the fact that we could have a military intervention, something i don't think people are factoring in it's difficult i could echo my own thoughts on own gold perhaps by owning like barrett but if you own stocks they could be pressured by anything involving either of these red lines. maybe sometimes it's worth pointing out the perils. not because i'm trying to scare you away from the stock market, because you need real conviction to own anything in an environment with so many geopolitical risks i don't think iran or china want to actually fight a war against

the united states. but the fact that our government needs to spell this out means that the possibility of something happening is definitely higher than we might like, and we may be actually willing to pull the trigger if those red lines get across i like to say there is always a bull market somewhere, and i promise to try to find it just for you, right here on "mad money. i'm jim here "last call" starts now \s ♪ right now on "last call", one big index hitting a painful milestone. what should you do with your money now? on the brink of war, tensions high. ian bremmer is here. sam bankman-fried will take the stand. we'll have a preview. the electric slide accelerating plus, who says bipartisanship is gone how cong