>> vix innin it's coming to a level where you should put on protection >> eem >> karen >> yes, top gun. gigantic numbers you know what that means >> danger zone >> sell the news got to short some of those paramount upside up side calls >> see you back here tomorrow. "mad money" starts right now my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. i'm just trying to make some money. my job is not just to entertain but educate and teach you, so call me. interest rates soaring, check. inflation raging, check. paying $120 at the pump, check
president confusing already horrible inflation horrors with messages about medicare pressuring drug companies while he hounds the only possible allies he has to bring down prices the oil companies, check. china says it's open for business but it looks like -- they were actors check. it's all bad but if it's so bad how can we come back from a huge down opening with an ocean of red ink and have a not so terrible close. s&p declined 0.63% nasdaq edging down 0.1%. i think inflation is starting to peak and feds are pushing lower. that's why this market is becoming more resilient. it could have been down after a
last week. what a remarkable moment where we have switched from wanting growth to wanting no growth as long as we don't have negative growth no growth may be a worthy goal for the federal reserve even as the president would prefer to calmly look for stable growth. wouldn't we all? based on his statements today biden doesn't want to just avoid a hard landing, he doesn't want us to know the plane is experiencing turbulence. can that happen? you know, the stock market is saying yes the astronomical checklist of worries seems almost to inspire buyers even as dividend stocks have some worthy competition from the bond market given the 10-year supporting 2.8% yield and a money back guarantee sure the government can stop paying its bills but at that point you've got a lot bigger problems to worry about. so how the hell can stocks
compete with bonds well, it doesn't hurt they've fallen so far they represent much better values than they did last november. let's pick three of them let's start with amazon. now, here's a stock down nearly 28% for the year amazon many investors normally consider amazon as a growth stock even as the stock sells 45 times extra earnings ridiculous even there's no growth at my noon conference call on thursday i want to own the stocks of companies that earn real things and profitsthey ca turn to shareholders in the form of dividends and buy backs as long as their shares trade at a reasonable valuation everyone is entitled to make mistakes and amazon has made a big one. it makes me angry. amazon is a company that can earn $82 a share in 2024 remember 2022 is almost half
over these faster growing companies and i insist amazon is faster growing than most is simply not going to sell at 18 times. it's not going to happen, and it shouldn't. i think amazon can sell 27 times earnings if it takes its medicine now, what would it mean for amazon to take its medicine? they've got to cut back on warehouses, cut back on workers who need new jobs and get more aggressive on the advertising side of retail while maintaining a big lead in the clout with amazon web weservices. next thing you know that $82 earnings per share turns into $100 while it's not as insulated from the fed's rate hikes i'd like to it to be understand amazon is not going to be stuck with huge inventory. how about a company, a company that now sells at a gigantic price to earnings multiple
discount, coca-cola or colgate or general mills or campbells soup i'm talking about meta platforms with a stock now sells it for 14 times next years earnings by this decline let's compare clorox, right? clorox is chlorine, that sells for 27 times meta platforms which will begin the trade saw its stock get obliterated last week when the parent of snap chat missed its quarter. snap, oh, the indignity. the stock is trading like the whole meta verse thing is one big joke at this point you're thinking swrooky at the plate, at the bat and mighty zuchy has struck out.
before you pooh-pooh the meta verse let me give you a heads up even if you don't trust zuckerberg some of the smartest guys in the industry bet big on this thing i'm not going there. some of them are too expensive and i think the acronym is moreuseulousful. let's take an underrated name, google let me tell you something about what google really is. forced to do so under federal rules you cannot own both a liquor company as my wife does and own a bar as i do under something called the tide house rules where companies that make liquor aren't able to sell it in an establishment we have to figure out what kind of advertisements give us the
best return. hey, free beer, never a loser. but hands down it's google because people google everything and you can get people to come to your place by being at the top of the queue and send people directly to your own liquor brand by using google. google remains the best way to advertise and we all know it if you're cutting back on advertising, you're not cutting back on google google is the way you move product you can't move on amazon and instagram. so you think they get hurt when snap gets hurt i don't think they're even in the same business. what's happening here since the months simple amazon, facebook and google have become colossal losers bottom line is they've fallen so darn far that i think they've become metaphors for a whole
host of stocks that are now ready to rally because they've got nowhere else to go but up. james in virginia. james? >> boo-ya. >> i like that >> so since 2020 i've been loading up on lockheed martin. i'm questioning should i hold or double down? >> i like lockheed so much i saw lockheed martin. both of them look terrific i want to be a buyer of lockheed martin rachel >> thank you for taking my call. second time caller now, member of the investing club. >> oh, fantastic see you thursday for our conference call. >> yes, i'll be on it. >> oh, great >> i wanted to ask about this real estate stock. there's a lot of opinions right now in the real estate world and if we're going to more slowly increase housing costs or the bubble is about to burst, a lot of opinions on mortgage rate
from what i hear there's a consensus perhaps 7 to 8% mortgage rate by the end of the year i have been selling a few of my stocks at a loss to try to purchase other stocks. with that being said for someone with a 10 plus year investing horizon this stock down around 63% would you say it's a hold or sell right now or maybe even a buy? >> i can't say buy it. i think the company has in many ways made so many ill-advised decisions of late, and they're not making money when you look at the past. in the future they might it is still an expensive stock, so the answer is i can't go there. all right, guys, listen, i'm trying to describe a world where some of our favorite stocks have been crushed amazon, facebook became big losers and while they may stay losers i think they've fallen so far they've become metaphors for a whole host of stocks that can rally because they've got
nowhere else to go but up. what can the cloud king tell us about the recent crunch let's talk to the ceo. larry williams, i'm going off the charts to see if this market could have more room to run. and getting the latest from the ceo from hp to see if the pc and printing company can continue to navigate everything from inflation to inflation concerns. so stay with cramer. >> don't miss a second of "mad money. follow @jimcramer on twitter have a question, tweet cramer, #madtweets or give us a call at 1800743cnbc. miss something head to
after six months of intense misery the cloud stocks may finally be showing some signs of life look at salesforce this stock was cut in half from its peak in november to its lows last week, but thanks to the market wide rally it's rebounded a bit off those levels all along i said this was about the wall street fashion show not salesforce's actual business which continues to do great. it's just the market turned against cloud stocks in general. when salesforce reported at the close today they knocked it out of the park with a set of better than expected numbers and solid though bit of imperfect guidance maybe it's got more room to run. let's check it out with the chairman and co-founder and ceo of salesforce. welcome back to "mad money." >> jim, thank you for having me,
and it's great to be back with you. >> well, mark, i've got to tell you i have never heard more trepidation about a quarter that was as great as yours that i can recall since 2008. why do people not realize the recurring revenue and the strength of the business model that just gives you over and over again a level performance that is -- well that is the fastest in your category >> well, jim, you're right it was a remarkably healthy quarter, and our pipeline is also very strong for the rest of the year you know, revenue was about $4.71 billion, jim, up 24% year over year. that's really incredible and the cash flow right behind it at $3.7 billion, another incredible result for the company. but what i'm most proud of is our remaining performance obligation at $42 billion.
o revenue that has been signed but not yet recognized on our books. >> that is an extraordinary figure now, it looks to me people sometimes slaying you know what, slack is not working other people told me got asked mulesoft is not working. if all these acquisitions are not working how do you get $42 billion in remaining performance obligations? >> jim, you know first of all there is no finish line when it comes to these acquisitions, so in many cases those analysts are right. but the reality is no one has built a more comprehensive solution for our customers than salesforce, and that's what the customer 360 platform is all about. slack was up about 30% for the quarter, service cloud over 17%, incredible numbers for customer 360. but let me tell you, jim, i think it's really these customer stories that are exciting. and probably the one i was really excited about this weekend in monaco was that
stefano, the ceo of lamborghini is now the ceo of f1, and they need customer 360, the ability to get them on journeys, have the right solution for sales whether selling sponsorships, customer service, marketing. and slack, all those things are now in place for f1, and it was an incredible race in monaco i don't know if you saw it with the rain it was unbelieve >> next year they're in vegas. is that something you'll be in charge and figuring out ho everybody can come together on it >> absolutely. they're incredible new customer, and using the whole customer 360 platform, jim. and i'll tell you another one that's amazing is statefarm. i'm so proud they're now using our field service product in addition to customer 360 we've talked how at&t is using that
and state farm has a phenomenal ceo, great relationship with him. they even have a fantastic new board member, keith watt, we know him very well and i couldn't be more proud of the success of salesforce and state farm and how it's become a strategic customer for us. >> how many 8 or 9 figure deals? big ones >> well, jim, i'm tell you there's many, many exciting stories. i can't tell you exactly how many 8, 9-figure deals because that isn't really something we talked about in our first quarter. but i will tell you that good year and rich cramer who you know very well did an extensive platform with them with our commerce cloud and this is an extension to salesforce where customers interact with yeti and sonos divergent the pandemic and now here we are with good
year also implementing this amazing new technology i'm excited about that and we're also announcing that jean rumaundo at the department of commerce is going to be distributing her $48 million of grants of infrastructure using our core platform. a lot of customer wins in the core group >> there's tremendous gloom everywhere you were just at davos people were concerned about russia and ukraine you've been instrumental in trying to get people to move on with their lives but at the same time move on safely. these are touch points for you, and yet around the globe things aren't necessarily going your way. >> jim, you're right you know we've seen interest rates going up, inflation going up we've seen the stock prices going down we've seen supply chain problems we've seen foreign exchange has been something we could never have anticipated
you and i have spoken about that i was in japan last week and had an incredible experience where i realized everything is so cheap right now, but not great when you have a business in japan and you have to roll the revenue back up to the united states while we had a great quarter, jim, the u.s. dollar they had a far better quarter than we did i've never seen the strengthening of the dollar like this over the last 90 days, been incredible and that's why we have to make slight adjustments >> at the same time i'm seeing dell have a good number, hp. maybe we're all just too gloomy. great companies coming through here including europe's. >> i was with michael last week, i was with hundreds of ceos last week in the world economic forum. and i think while our customers are all, you know, as observant of the news and everything else as we are, they're also seeing a lot of robustness in their business
and they're very excited about the future as am i and really the key, jim, is just putting those things together, being appropriately conservative going forward. because, look, we're not blind to what's happening. we can see what's going on at the same time customers are so excited they have very little debt on their balance sheets they're excited to move forward into this market, and they want to go. so we want to help them and make sure they're connecting with their customers. want to make sure they understand their numbers, want to make sure they're connected to all their information systems, and that is what we're excited about. and we met with hundreds of customers last week at the world economic forum, and very consistently we see optimism, but people, you know, have their eyes wide open >> that's why some would think your guidance is not what you wanted, and i'm seeing conservative guidance given everything you just told us. >> foreign guidance is really
impacted by foreign exchange we have now had to consume about $600 million of foreign exchange changes since our investor day since we first gave guidance last november. and if you look at that sea of acceleration, for example, the yen since march, i mean i've never seen anything like it. of course we're seeing these changes in the euro, seeing it all these currencies and the dollar gets stronger and stronger, you know, as an incredible safe haven. while that's great with all your evnews in the united states, we do have strong business internationally. we're the third largest software company in japan right now, and i think we'll be the second largest software company in japan in a year or two that could impact how we roll it all up in total guidance >> it was a great quarter. i understand how you've spread the right word and i've got to tell you i want to congratulate you at a tough time, and a lot of people have succumbed to the gloom that has not been you.
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a week and a half ago we were in the depths of despair. stocks kept get lower day after day. major household companies reported horrifying numbers, numbers that made you feel we were being eaten alive by both inflation and a slowing economy. when the market is getting killed like that everybody wants to hide in a foxhole probably no one is willing to
stick their head up and be a hero but there was one guy brave enough to call it bottom right here on may 20th as the stock market was having the best weekly rally in two years. larry has written more than a dozen books, created a host of his own proprietary indicators. his website is ireallytrade.com. especially when it comes to the bottoms and when everyone else is giving up in april 2020 when we'd have double digit unemployment for as far as the eye can see, williams started predicting the economy would start recovering in weeks and the market would recover with it. ever since i told you that was the most brilliant contrarian bottom call i'd ever seen. then may 25th widespread panic, despair, capitulation. seemed like everyone was giving up on stocks i know, seven straight weeks of
negative williams looked under the hood, though, and he shah a bunch of tech indicators. came out here and said it. sure enough stocks caught and maybe i should go on vacation more often when the market gets insanely emotional you don't want to bet against the best technician in the business because he has a better handle in these situations than we do. now the average has rebounded like crazy, what's next? can this rally continue or will it be just another short-lived bear market bounce we've seen often in the last 18 months again and again. as far as i can see he's the only one who called it right and you know what? he thinks we've got more room to run, maybe a lot more. the first thing williams points out this past friday the market spread was incredible. out of the 500 stocks in the s&p
500, 96% of them were up while only 4% were down. if aioego by market cap 94% of the index was up how bullish is this kind of action i want you to take a look at this chart of the s&p 500 going back to 2008 yes, these vertical red lines show the moments where 95% of the s&p 500 advanced in the past week for last week we've seen this kind of breadth only six times in 2008, and in every instance it turned out to be a phenomenal buying opportunity that includes the rally in 2020 that was extraordinary the fed mandated bottom in 2016, which was amazing he caught this one. it was when janet yellen nipped some inflation butt. it's been 19% going into that and of course generational bottom in 2009 this kind of swift rebound should be a major inflection point for our beaten down stock market in other words, he thinks last
week's rally may be the beginning not the end. how much up side could we be dealing with here? i want you to check out this extremely long chart of the dow jones industrial average going all the way back to the late '50s williams likes to look for cycles that repeat themselves over and over. some of these are short-term but some can last for ages a few years ago he noticed a 12-year pattern in the market. you can see the pattern going from the bottom 1963 to the next bottom in 1975, 12 years later this pattern was spot on and forecasting a major rebound in the stock market that's another period where we were dealing with sky high oil prices, rising inflation, a not so hot economy and of course the persistent threat of nuclear war. now, i want you to check out the chart of the dow from 1984 through early 2000s with the
same 12-year cycle right there, bottom red. once again magnificent rallies in both 1996 and late 1998 how about the late 2000s to today? take a look. the last time this 12-year cycle predicted a major move off the bottom was none other than 2010 which turned out to be an excellent time to buy. now it's 12 years later the cycle is predicting another significant low. and crazy enough we had a monster move last week because this cycle is so long there aren't a ton of data points. we're looking at an extremely bullish sign now there's a part of me that just hates this kind of analyst analysis my gut says it shouldn't work. how can there be a 12-year cycle that's repeated a rally since the '60s it's like picking stocks based on astronomy if you can find an astronomer
that can make predictions as good as williams i'll get them on the show. williams says this market has a dominant 75-day cycle and if you trust that cycle it means we're due for a rally through september 1st. in short he thinks it's going to be a very nice summer. again, i don't know why these cycles exist i don't know why they seem to repeat themselves. it bothers me i don't know why, but the thing about larry's methodology is that it works i tell you as a historian and technician, and he knows his stuff. that call last friday was so fabulous you could only bet that he's a tough guy to bet against. larry williams perfectly called the bottom the week before last. now announced suggests we've got a lot more room to run he thinks it's not just a short-term bounce. it's a move that could last through the end of august. and given larry's track record i'd much rather bet with him than bet against him
bob in massachusetts bob? >> hey, jim. boo-ya means gratitude so i want to give you an infinite boo-ya since the pandemic started i was a little were aid about my company so i wept into netflix options which made a loss to me, and i moved it out at the right time and i'm heavily into nucor. you think they're going to make some kind of come back in the next few months? >> i think right now it is hostage to the fed i think it's doing incredibly well a lot of analysts keep downgrading the group because they're simply worried this is a group that has a big slow down into any mandated recession. i can't disagree with that sometimes you have to take some pain to get a big game let's go to kyle in california kyle >> boo-ya, jimmy >> boo-ya, kyle. >> i hope your memorial day was
good >> we had the best time, and i'm gardening. i've got the garden going, so we're good what's going on? >> right on. i've got a question on stocks trade about 25 times earnings and i believe they raised -- and my question is about intuit and how they're doing in this environment. >> that was a great quarter. of the growth stocks that reported for this period intuit was the best, and a lot of that is small business remains strong a lot of it because it's just a really well-run company. all right, larry williams perfectly called the bottom last not this friday, but the friday before he called the best rally in two years so i went back to the well you know what he thinks? he thinks we've got a lot more room to run maybe until the end of august, and i'm inclined to believe him. hp looking pretty good, legacy printing company what is the secret to printing profits in your portfolio?
then chinese stocks jumped higher today so what should you do with this group i'll give you my take. and all your calls rapid fire in tonight's edition of lightening round. so stay with cramer. >> next investigating the uvalde school shooting plus the eu's major action against russia. ♪ ♪ bonnie boon i'm calling you out. everybody be cool, alright? we've got bonnie right here on a video call.
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even after loos week's remarkable run you know this has been a bad year for most stocks. there arexes, though take hp ink. even as wall street has turned against tech hardware. i've been a big fan of this one because hp's got a cheap stock, a solid dividend, notoriously cheap on buy back. and plus they've got a thriving business that seems to be holding up much better on the
consumer side. today we found out buffet still got it because when hp reported to close they delivered a strong and top beat it was still very good let's take a closer look at the president and ceo of hp ink. welcome back to mad money. >> thank you, great to be here >> looks like a very good setup for you, once again delivering now, there's so many people who tell me to be concerned about consumer pcs hp, which a lot of people associate with that, is actually able to i'd say determine its own destiny much more than what the naysayers are talking about. >> i think we have very strong performance on the pc side mostly because of the growth we got in the commercial business our commercial business grew 18% and represents now about 65% of
the total pc business, which is a very solid number. on the consumer side as you were saying we saw a slow down. we were expecting that, but we were able to more than compensate with our growth income >> i did not detect problems with supply chain which was my real concern >> we continue to be in a challenging situation from a supply chain perspective, but we are starting to see the impact of all the impact that the team has done divergent the last many quarters a few quarters ago we announced measures to drive long-term agreement with suppliers, redesign our processes, build more tools and we are seeing the impact of all those actions in our results. >> now, i'm always fascinated by the work from home a lot of people felt it would be over a lot of people felt to try to invest in work from home was too late i read through your results and what it tells me is we're still in the process of amazing migration of people working from home that deal, that is not something
an uninvestable theme. it's an investable theme, still. >> we see hybrid work as a great opportunity for us to continue to grow in the future. and when we talk about hybrid work, we mean working both from home and from the office and giving employees flexibility to do that. for example, three weeks ago i was in japan it's one of the most conservative countries in the world in terms of working habits i talk to many large companies, small companies, medium companies, and all of them acknowledge that they are going to be enabling hybrid work going forward, so this is happening in japan. i can tell you this is going to happen everywhere else in the world. >> tell me about the poly acquisition and what it means about having the best hybrid working environment? >> we're going to be complementing our portfolio in terms of solutions to create videoconference in rooms, to enable employees to connect from home with the right headset,
with the right cameras and we're really excited about the acceleration this is going to provide us in both the business and work force solution business, which are two of our key growth areas >> now, enrique we've watched quite a bit there. it's a competitor. it seems it's a cutthroat industry will you be able to maintain some good growth margins >> there's a lot of room for innovation if you see the experience that we are enabling today with people working from home and working from the office and trying to connect, it is a very painful experience today especially for those that are not in the office. we are going to be driving the innovation to make everybody feel included in the meetings. and when there is innovation, there is margin. >> so what do we do with printing there will come a day where i say you know what i don't want to see those negative numbers anymore, enrique, do something i'm sure the shareholders will
feel the same way. what can you say to them >> this quarter was driven by supply in fact demand was significantly higher than the capacity we have for both home and for office printers and we are doing a lot of work similar to what we have done on the pc side to improve our performance and get more components that will enable us to regain some of the share we have lost this quarter and to grow especially in the second half of the year >> right so in other words what could have been the number then? i'm thinking maybe in light of what you told me there are some people at a higher number than what you delivered that would have been -- if it were not for maybe printing, i don't know you didn't really quantify in the release, russia, maybe these were the reasons why you didn't have like the blow out quarter i'm getting used to from you >> we had a very strong quarter. and yes, we manage a lot of these challenges and mi micro-difficulties we continue to see, but i'm proud of the
work the team did in managing these challenges this is why we increased the full guidance of the year to reflect the confident we see in the second half of the year in the ability of the company to continue to manage but also to grow in our growth portfolio >> i know you talk to all shareholders i know you treat everyone equally, but it must have been exciting to see warren buffet as a big buyer. have you had a couple conversations with him >> first of all, having one of the most respected investors as one of the investors in hp is a great sign of confidence for a lot of us. i try to talk to all of our key shareholders i have talked to mr. buffet, but as you can imagine we keep those conversations confidential >> of course >> i'm going to share a little bit of a secret that i learned that i think you're going to learn. i learned that as you are he's a happy customer with hp pc. he uses our products, and this
is another incentive for us to continue to drive that >> you and i both i was looking at my pc, they could not believe the resolution they couldn't believe the touch screen they couldn't believe the sound. and i told them it says, look, it goes with me everywhere because it's not heavy it is fun. your pcs are fun look, congratulations on another good quarter i want to thank enrique, president and ceo of hp, always great to see you, sir. thank you. >> thank you, jim. >> "mad money" back after the break. coming up next -- >> let's make money together what do we got >> cramer is bringing the thunder and answering your burning questions in today's edition of "the lightening round.
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it is time time for the lightening round. and then the lightening round. are you ready? start with tyler in california tyler? >> boo-ya, jim >> boo-ya. all right, good to have you. >> i'm with the cnbc investors club and investing into despite the bad earnings in nova vax >> i've been waiting and they made a lot of bull claims and they may get it, but we have a great leading company. we have pfizer and biontech and that's what we needed. let's go to danny in arizona danny? >> hey, boo-ya, jim.
how you doing? >> i'm good, how are you >> i'm doing good. it hit a wall in russia and ukraine. i'm down about 56% is this thing ever going to turn around >> i think the metals have peaked, okay and i think that's part of the idea i talked about at the top of the no it's just a question how much the fed wants to push to really knock inflation over, and that's what you're dealing with so i cannot recommend the stock even though it's very cheap. how about joan in new york >> mr. cramer, thank you for all that you do. >> thank you, thank you. >> i can't recommend a stock that's not making money. you know how i feel about these companies. if they're not making money they're not on my list to buy. speak to me. >> jim >> yes
>> huge boo-ya from cleveland. >> i'm going to cleveland. what's happening >> great place what's your take on life cycle >> i like the goldman piece this weekend how lithium may have peaked i'm not going to go there. we're dealing with a lot of peaking of a lot of metals i'm staying away >> jimmy, how's it going >> looks good. got this nice really good irrigation system going. what's happening >> you know last night i was kind of depressed. i was sitting at the dinner table, i forgot to deposit my paycheck my daughter said, dad, grab your phone, take a snap of it, up load it to the bank and it's deposited. i tried it and it worked like a charm. made me think how's the bank doing. led me to this little tech company, well they're not little they have 98% of the market in this they're profitable 5% bottom
line knocked down a bit in this market my company is my tech systems. >> i have work to do because i didn't know they had that kind of percentage of the business. if that's the case then you are absolutely right let me do more work. and let's go to florida. >> big boo-ya for easy money how is the market cap less than a bull market cap when they're 90%? >> all right, the answer is because people feel that the actual bond to debt is crushing bhc. joe is doing a good job, but he brought the subto the market at a very bad time, and that's really, really crushed the stock. i'm a believer that trust owns it, but we have it in advance until we see something that tells us the interest and bonds are not as bad as they look
right now. chris in virginia. chris? >> boo-ya, jim, for northern virginia >> how are you >> good. with the newest oil ban by the eu will u.s. oil companies benefit? can we expect more horsepower from -- >> there were a lot of people who felt this deal with opec is going to knock these down. you had a total reversal in pioneer today. what i would say is you've got to wait for it to come in because it's going to come in a little more and then we're going to buy some more by thursday, hopefully. jeez, i may be frozen -- that's because i forgot the date for the travel trust we'll talk about that thursday 12:00 at our club meeting. and that, ladies and gentlemen, is the conclusion of the "lightening round. coming up, better buy american with markets in turmoil cramer ticks off the reasons why the
alibaba, and this is a good sign for merk and company in china as well as nike and starbucks i need to remind you it's a bad idea to invest in companies that are based in the peoples republic of china. i think it's insane anyone would even take the chance given what we've seen the last couple of years. right now the chinese government is taking a bull stand on covid. they want to wipe it out with louk lockdowns. i prefer our method but if china's lock down worked, then once they're over any company doing business and making things over there will do better but that's not a green light to buy actual chinese stocks. in recent years it's become crystal clear the chinese market is not a free and fair exchange. we've had 250 chinese ips.
the very stocks people have been buying today have been horrendous long-term investments. why is this? look, i'm not a rocket scientist. china is communist country 40 years ago they embraced free market capitalism to lift their people out of poverty. as soon as the country got wealthy enough the communist party went back to its roots if the ceo too powerful the chinese government will bring it down he's a billionaire and he's got to keep his head down. that's why i urge you to take a page from the chairman and purge these chinese stocks from your portfolio as they go up. sure the chinese economy is trying to once again pump up its economy. the government makes a concerted effort to push them higher, but it's time to realize the united states is the best place to invest europe is held hostage by russia because the whole continent is
addicted to russian gas. i don't know how much that matters given that russia's whole war effort is basically financed by the eu's natural gas purchases. south america that's become less -- japan has got demographic problems, south korea energy problems. look at the u.k. to the point they had to bring in the american activist investor to fix the company the same way he had to do with proctor and gamble right now there's only one developed country that gives you the best values, the most competitive managements and the finest outlooks for both 2022 and 2023 despite the strength of the dollar and that's the united states why go to china to lose money when you can go to the u.s. to make money don't be fooled. historically chinese stocks are awful performers and the government's capriciousness is
outrageous so get out of these stocks while they're running. i admit they can run a little bit, which means you can take your time to get out put that money into the best market, the market of the united states of america. i like to say this i'm jim cramer, see you tomorrow seventeen mass shooting in america since uvalde the crisis in america. i'm shepard smith. this is the news on cnbc the first funerals for the children one week after the massacre in texas. >> i can only imagine the parents, grandparents out there, wanting to go in and the police won let them. >> honoring the victims from robb elementary and searching for hope. plus exploring the legal options for families and congress calls an emergency meeting to once again debate