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tv   Mad Money  CNBC  November 11, 2022 6:00pm-7:00pm EST

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>> brian >> if you're looking to get short, buy the put spread in disney and play to the down side >> mike? >> buy depot into earnings >> thank you very much have a great weekend we're back next fridayt 30 a5: my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money." welcome to cramerica other people want to make friends, i'm just trying to help you make some money. my job is not just to entertain, educate, teach how this business works so-call me at 800-743-cnbc or tweet me @jimcramer
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the crumbling crypto world may have stolen the show today but make no mistake about it, the return of the bull is the real story. yes, the emperor of crypto provpr proved to have no close and billions of dollars did vanish in thin air. yet, its damage couldn't obscure the positive revreverbuations w so powerful the dow gaining 32 and the nasdaq, get this, surging 1.88%. red by stocks that do well when the fed stops bringing the pain because the cpi was so lighter than expected. at the same time, the recession stocks did get slammed today that pickings were quite good. quality quality pharma and cloud stocks being bought take the other side of the trade, buy some staples.
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dump the narrative into the text of the strength if you still have any it was a very good morning meeting i had with jeff marks because it was really timely before powerful reversals. we know there will be further revelations as all the kings horses and all the king's men are working hard to put humpty dumpty coin back together again. that's a good name, humpty, dumpty coin currency what matters next week as we go under the game plan is whether inflation will stay tame because tame inflation means the fed can slam the brakes on the economy or it can stop the lower inflation, the less likely we have high rate hikes to that end, let's go to the wall and figure out what to focus on in a week that's actually devoted largely to retail, which means to you in fact, let's start there on tuesday, we get the number retail sales
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agrate number is what the fed is looking at a weak number there with little inflation to make that happen. see, i'm concerned that the market has gotten a little paint gloss sheen going. if things get emotional, things stay strong. the worst retail gets, the less damage the fed needs to do before they declare victory and apparel, as anyone saw, if you broke down the index of the cpi, this is gigantic part of it. monday is pretty quiet except for a report from high peak enno en energy i expected it to be stellar. high peak is a plain ol' fashion go for the gusto driller and it has tremendous growth. it is definitely what you want to own if you think oil prices are going higher tuesday aside from the grandest
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retail numbers, we hear from walmart. walmart, the vast majority of wall street decided this would be good. a blowout quarter. the stock will keep running. we own costco for that, costco for the travel trust but we tried over and over again to be in walmart to be surprised by the downside and finally, threw our hands up and said no thank you. the good news is the economy is soft enough the consumer may start to trade down and cuts and always has in favor of walmart opposite is the equation of a lot of money bet against the stock of home depot because housing is so soft i think there is more to home depot than just new construction same goes for lowes which is the next it's entirely possible both companies are winning because of renovations. contractors are home depot's do it yourselfers remodel plenty.
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i don't expect either to knock it out of the park if they talk how housing is not a dead industry, i'm sure that toll brothers, lennar, hordton will continue to run and we have the cooler cpi data earlier in the week we visited home depot not that long ago there is so much more to the company than timber. before the open wednesday, we get tjx that represents the best of the best for this particular moment tjx buys merchandise that other retailers are desperate to get rid in to bring new stuff and buy this inventory at incredibly low prices they call tjx a low retailer i call it a cash machine many people have been shorting this wrong, brian cornell got a new contract to run the joint. i'm a believer in target it missed the quarter and talked about how the government is blocking the sell of the powerful chips to china. since then the stock is roaring.
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maybe that's because nvidia found a different way to sell chips. i think there is a shortcoming rally than the real thing which means clean inventories and brand-new running products will save the day after we get the results we get results from cisco but has good orders i like the risk reward going in. valero, we muet them. this is a spac rolling boiling allies making them cool, too it's a fun thing their printing money i want to own this one ahead if you want a speculative stock now, thursday, while it starts like at 4:00 in the morning like ally bue alibaba. i think the chinese government wants a good number. they want american investors back in the stock market and need the money and, you know, the easiest way to lure
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americans back in is have alibaba have solid results and commentary shook off by the government it isn't the first sam freedman bank but i'm sick of trusting the chinese government alibaba will be hostage to the party. this quarter that might be good for them, next quarter might be bad. two tough ones, kohl's and gap kohl's preannounced an okay number, i don't want to stick around for the holiday projections as i do like the interim ceo who takes over next month, as for gap, it's incredibly inexpensive unfortunately, gap is fighting for its life in a contest and i don't want any part of that salvage mission but the one i do like is palo alto networks i recommend buying the stock, let's say it goes down on any
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day, buy this first if it dips this is the finest cybersecurity company out there and could have a monster quarter. finally friday, results from a stock i haven't liked. footlo footlocker she did such an amazing job at a ulta beauty. she has a plan to turn around the troubled footlocker, too people want me to talk crypto and i'll do that at the end of the show the only big stock involved is micro strasttegy they could be in real trouble but the key to owning bitcoin is tell others who say wow, you have a lot of bitcoin. you call them idiots that's the way they have done this for years now you don't like my position that's because you're an idiot i argue like that in faith grade. the on going collapse will be the 12th of the week i'd rather make money in good stocks and throw away the bad ones one more word on crypto. i've been screaming at the government, any part of it to regulate the crypto market to
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protect you and i failed, okay i've done it endlessly at this joint, at this point, i got to tell you, i hope the regulators recognize barn doors open and the horses are all gone bottom line, this market has a lot of exciting side shows but in the end, what matters is inflation. if we get more signs that it's moderate next week, the market can stay strong or the rally will run out of steam. daniel in california, daniel >> caller: hey, jim, i'm actually in brazil hoping to catch some formula 1 this weekend. >> brazil? oh my god, will you lucky? i got a lot of relatives down there but can't find them. maybe look for them. what's going on? >> caller: this company recovered nicely from the 52-week low. what are your thoughts on intuitive, isrg? >> i happen to think they make incredible equipment and have a razor blade model that's coming back continue to buy it and have a
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great time in brazil and keep telling them how great america is what matters now is inflation. if we get more signs it's moderating, the market will stay strong otherwise hey, chacing. it veterans day. we're talking to a leader in lockheed martin learning how the service shaped him into the ceo he is today. the cloud stocks, we know what they've been, right? any shocker? but after yesterday's bounce, could this run have staying power or is it time to ring the register i'll give you my take. lifetime just opened up the latest here in downtown manhattan. i'm sitting down to learn more what the company has in its pipeline stay with cramer >> announcer: don't miss a second of "mad money."
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follow @jimcramer on twitter have a question, tweet cramer #madtweets or send game an email at or call us at 1-800-743-cnbc. miss something head to
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every veterans day we like to remind wall street that the best way to honor our service members is by hiring them and you know what? it's good for the bottom line, too. you know who is great about this the defense contractors especially lockheed martin which this week was ranked number five on the to besforbes list of bes employers for veterans not for nothing. they are a terrific investment
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up 31% year to date. they reported a better than expected quarter didn't hurt they announced a $14 billion increase to the share repurchase authorization, some of the bears told me that. that would never happen. regular viewers know i'll a gigantic fan of lockheed because their hardware became more essential all over the world, although i've liked the stock since the man we're about to talk to joined the firm so let's take a closer look with the chairman and ceo of lockheed martin and veteran of the air force that joins us now. welcome back to "mad money." >> good evening, jim always great to be with you. >> i feel the same from the days from the tower days, which were incredible but i think this is just such an honor to talk with you what you're doing with lockheed explain to people point blank, hiring veterans while it seems like we talk about it as being something that's good to do, is actually what you should do if
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you want something good for your bottom line. >> absolutely. veterans have been through good training and great responsibility at a relatively young age. they have to work with people right from the beginning and you got to earn your leadership position you don't get it just with stripes on your shoulder or bars on your collar you get it because you earn that leadership with your character the people that come out of the military almost without exception are great people to have in your work force. we've got 23,000 veterans in our company. about 20% of the work force, one out of five and we just hired another 2500 last year we got 6,000 jobs. look us up and see if there is something for you. we'd love to have you. >> great you've done that. first person that's done that.
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i've been interviewing people all week thank you for what you're doing. can we talk about military home building, the rebuilding together that's another side that you think is very important that i want people to know about. >> sure, you know, look, veterans especially if they stay until retirement may not have incredible financial assets or availability for loans, et cetera and we want to make sure when we can help with housing for folks all the way up to vietnam and korean war veterans, if they need a helping hand our company likes to step in and employers like to help them and work with them to have an upgrade to their home or renovation or something they need and can't afford. it's really something on the ground, hands on our people like to get involved. many are engineers and craftsmen and technicians themselves that's a good way for them to pitch in and feel great about it. >> i got to ask you i've spent a
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lot of time talking to people anytime millioitary. my father said when you interview a veteran they talk about team they don't want to mention themselves and promote themselves it's against the ethos what do you tell veterans that are people that want to hire it's okay to say that, you know what i'm a good leader, i had a good team as opposed to say i'm part of a good team. >> i think that leadership comes with the experience. you can tell from a non-commissioned officer, enlisted fellow or lady or an officer, just by their resume, they've earned those leadership experiences because a, they were great at what they were doing and they could manage and lead people and inspire them to follow and to maybe unpleasant or even dangerous situations and stuff. those folks have earned their
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stripes. they tend to be modest we all get lessons, jim, i'll tell you a quick story, i got my lesson once. i was on a check ride mission in lockheed martin c 1 41 star lifter back a few years ago i'd say and a check rider is you either get passed or failed based on your performance and i thought it was a good first leg of the mission landed the plane, filled out the maintenance log and literally put my key on the dashboard of the plane while the crew was in the back unloading the aircraft and getting pass jers off and the army folks that we had on there and the equipment. the check pilot who is the person that can fail me kind of slapped me alongside the head and said what are you doing? i said my job is done. the plane is landed. we're parked ma maintenance report is filled out. i said i'm done. he said you're not done until the last person on your crew finished their job
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i learned a lot that day he was kind not to fail me but i learned a lot. >> one question about business, ukraine, you got the best weapons. are we doing -- you're in a difficult position because your ceo has to deal with the government if we gave the ukrainian army more of what lockheed martin makes, would it be a fair fight against a giant country like russia >> that's a u.s. government policy decision outside the realm of our company but i can say with what the ukrainians have, they've comported themselves and actually performed extremely well, they've had good training along the way over the years with allies and region and done it to a great effect we will step up to whatever the u.s. government asks us to do in support of ukraine and be pleased and eager to do it. >> well, thank you and thank you again for saying listen, we're
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hiring right now because everybody says they're hiring and then when someone tries it out, it's like oh, actually, we said that but we're fill up. i know that lockheed martin is a company and you are a man of your word. chairman and ceo of lockheed martin, a proven winner since the show began 17 years ago. "mad money" is back after the br break. coming up, a lot of big tech names have taken it on the chin but is the cloud era stock above the fray reach for the sky, next.
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yesterday we had that insane run to the october consumer price index came in slightly cooler than expected telling us the fed may be winning against the war of inflation the best day of averages since
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the spring of 2020 and impacted the nasdaq up 7.3% all sorts of speculative stocks and growth names have been 0 blid - obliterated. why? they are a high interest rate environment but if the fed eases up, the groups come back in style, in yes, the wall street fashion show but this spread to everything speculative, even crypto currencies had huge runs yesterday despite the collapse of the second biggest crypto exchange in a lee man's brothers moment wait a second. is that rigorous tonight i want to talk about the cloud where it just exploded higher all three major cloud etfs had the best day ever. ill m imagine that up more than 13%. i mean, these really stood out to me because the cloud based software stocks are under the most immense pressure of the market for the last year, since the last week. literally. last week. today. we had a pair of big names
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one time big favorites reported awful numbers and saw the stocks get e visviserated. i've been warning you away from software services but there are quality companies in the group worth owning if we figure out when the cloud names may be ready to bottom. i'm not sticking my neck out to make this call because the industry is so hated this evening season the cloud plays have started to really feel the impact of the slowing economy. so strong they've been overcoming the economy but they're giving you short falls and forecast cuts because of macro weakness the fundamentals have gotten a lot worse. that's why yesterday's cloud break, it was striking unfortunately, i think this is a case and you see this a lot where wall street has gotten ahead of itself. yesterday we got a glimpse of what the market might look like when the fed is finally done
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raising interest rates the problem is they're not done. inflation might be moving in the right direction but still very high the fed likely won't hit us with another 75 basis point rate hike but almost certainly keep tightening, maybe 50 basis points, maybe 25 frankly yesterday's rally felt a lot like the short squeeze for some sections of the market where the bears convince themselves that nothing good could ever happen. then we got a positive cpi reading and they rushed for the exits. to rush from the exits for them means buying stocks to close the short sell so i don't think this run in the cloud stocks is necessarily sustainable especially when it comes to the ones that aren't profitable and those are the ones i always tell you in the lightning round don't touch and i recommend using this incredible rebound as a rare opportunity to sell the weaker cloud stocks into strength if you retract, this is giving you a chance to get out. that said, some of the action might be worth keeping but only the highest quality names so
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don't we break down one of the etfs that ripped yesterday the wisdom cloud tree computing fund in search for software as a service stock that might be worth holding on to if you think the worst of the pain is over. we pick this eft because it's the highest profile group with the most components and also by the way, when people flash how is the cloud doing they use this eft as the generic way saying here is how the cloud is doing of the 75 stocks in the cloud computing fund, every single one was up yesterday including 59 that were up double digits the best performers we had on a bunch of times rallied more than 30%. that's how you get an average gain of 13.5% and let's not forget about the context thursday this group was down nearly 57% year to date on average. only one of them was up at all box and that's because of challenger or insurgency came in and fixed the thing and it
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finally started moving even after yesterday's rally and another strong day today, 75 stocks in this etf are down, get this, an average of 49% for the year hey, maybe they were just due, right? more than half are down for the month of november and merely gained back a small fraction of what they lost how do we tell which ones might be worth betting on? we don't want anything with more capitalization of 1 billion. we don't want anything suspected to be unprofitable because the ear earnings we don't want anything that's related to the cloud or that we're not that familiar with and trying to get a bunch of stocks in you know i don't like the etfs finally, we only want software service stocks that pass the rule of 40 test. remember, this is so important i'll go over it again to see it in this industry, you need rapid fire revenue growth or high
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profitability. the rule of 40 tests both. you take the revenue growth. you add the operating margin and if the sum is below 40, untouchable. put it all together and get -- this is pretty amazing only 13 of the cloud components pass the test. my three favorites of the test pasters are crowd strike, data dog and service now. crowd strike is the top tier cloud with oriented cybersecurity play the whole group got clobbers yeah, macro concerns for a company that does cybersecurity. are you crazy? crowd strike -- they did so crowd strike is still down 11% for the month of november after 17% gain over the past two days but i think the sellers may have been painting too broad a brush. cyber ark reported strong numbers that same day. i told you the top of the show i think palo alto will be good my feeling is this is a situation where there are winners and losers and crowd strike with palo alto is a
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winner one caveat man, crowd strike is beaten the earnings every quarter since the came public more than three years ago. how many can do that it's beaten by a lot if they can keep that up, it's cheaper than it looks. second, i wish they didn't -- i don't like this silly name but it's a good company. data dog best in class when it comes to application performance monitoring analytics they go to companies and make sure the consumer facing technology works data dog reported a terrific quarter yet the stock barely got credit for it because everything is hated this one is also expensive but when the fed finally takes its boot off of the companies, data dog should be able to rebound the hardest. third, service now, now with i.t. management software that helps clients automate jobs. a few weeks ago they reported a good quarter but running circles around the competition and you have a lot of confidence in will
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mcdermott and he has a lot of confidence in 2023 the stock roared over the next few days and gave back much of the gains before soaring 12% yesterday. at these levels, it's still selling for 45,000 next year's earnings estimates hey, got a couple honorable mentions, too. the rule of 40 failed not by much salesforce and stock down 50% and smart actress. i can't recommend buying salesforce up here but we own some for the travel trust. finally, there is workday the software for both human resources and command. it's fallen to the lowest level since april 2020 since then it's rebounded like crazy and that's correct but even then, workday is selling for 35 times next year's earnings estimates at a 3 1% clip only i bet it gets more credit for the growth as the fed stops tightening although that can take time. bottom line here, aside from the hand full of exceptions, if you own anything in the cloud you
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have to treat your yesterday's magnificent snap back rally as a gift this group hasn't finished the stint in purge purge tory. let go to michael in massachusetts, michael >> caller: jim, thanks for taking my call. >> of course. >> caller: i'm a long-time listener and also a club member. >> thank you for joining the investing club means a great deal to me and i hope i do not let you down how can i help >> caller: snow flake is my largest stockholder. i read the book. i looked at the financials that seem to be okay. my question is i feel i'm married to the stock am i doing the right thing holding on to it >> the book is great, too. frank's model is going to work i think people got too excited about the stock. he doesn't run the company for the stock. he runs the company for a long-term view and i think you've got that and i think you should stick with it the stock is bottoming and will
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have a multi year run it's just that it came public in a frothy time thank you for being a member of the investing club we've been doing a lot of good stuff and a lot more good stuff ahead and if you're watching the show, i urge you to join the cnbc investing club. if you own anything in the cloud, treat yesterday's snap back as a gift take that gift and do selling for the ones losing money. much more "mad money" ahead including my exclusive with lifetime can an investment in a health ex wellness chain bring gains check in the ceo and from dogecoin to polka dot and i'll give you my take on tonight's edition of the lightning round edition of the lightning round so stay with cramer. let's have some fun. alright.
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[announcer] maff [announcer] and bret taylor! you excited to be here? this is going to be huge. [michael] i want my daughter to have a livable world. [marquita] i just try to keep a [marquita] growth mindset. and the sky's the limit. [manish] you are capable [manish] of anything. [manish] the only limitation is [manish] in your mind. ooh, i hope you all are getting this. at ameriprise financial, our advice is personalized. based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice? i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ameriprise financial.
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this is a brutal year for the ipo class in 2021 but these are legitimate businesses. take lifetime holdings that reported this wednesday and it was an end line quarter but had a surprise increase in members normally membership declines in the third quarter in response to the stock correctly gaining 4% then it tacked on another 18% in yesterday's incredible action deservingly so we checked in with the founder, chairman and ceo of lifetime group holdings in his new one wall street location a country club perfect for downtown. take a look. i got to tell ya, i'm excited. why? you used to come on and you had a very under valued company and you said you know what
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one day i'll own it. you took it private. you go public. then you have covid and yet look at this. this is amazing. how have you been able to pull it off >> it's been a big but great challenge. stay close to the fundamentals, take care of your team members, continue the culture we have an amazing relationship with our landlords so we paid everybody's rent they love lifetime and so we've been able to continue to move forward and we're ready. we're ready to pounce. >> now, when i look at where you are, i think there could be hundreds more lifetimes. >> i think the opportunity is easily three times as many locations as we have open today. >> well, let's -- tell us where we are right now so people know because it's a very exciting place. >> so this is obviously one
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wall harry took this building to build some beautiful condos and they put whole foods on the main street that will open next month or the month after and we worked hard to get this space with the walls and everything to make it purely magical and i am so proud of it. it's beautiful everybody comes in, they just find something they can't imagine that would be this beautiful here. >> so you are a sought after client in the world of, say, reefs? >> right. >> when i talk to people that are members, they don't regard it as a gym. >> right. >> they think of it as a country club, a safe place, they use words that aren't usually used about -- have this kind of gym equipment. you said that was key to your success. >> yes. >> how did you know? >> so when i first decided to build this company, i had a
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clear idea i didn't want to build a fitness center i didn't want to build a gym company. we really wanted to build the place after you got done with your workday, you would feel like i want to go there even more inviting and more pleasant than even your living room that was our vision. our goal is to create an environment that people just love to be in naturally, socially is the place they want to be with other people. pleasant, inviting and then they get to do all aspects of their healthy living, healthy ageing in one place that's what became lifetime. >> as you know, i got excited because of my daughter who belonged before she moved into the city, belonged to a terrific one in the suburbs and told me over and over again the people the people i always asked her, what is so darn special she said the people. they understand. she took a spiritual yoga class. she never thought machines
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everyone is having a hard time hiring how are you finding these people >> well, look, i started in this business doing graveyard shift i taught classes i taught spin classes. i taught people how to work out equipment. i sold memberships i am no better human being than any of the people that work at lifetime, any of the team members. as a result of that, we have a culture of care that goes deep between all 34, 35,000 of us we're all the same we're all one. >> how many? >> 34, 35,000 total team members. >> wow. >> we're all the same. we're all one. we work hard and that love and care that we have amongst each other completely comes through for our members. if we don't have that type of an energy amongst each other, the customer would never get that. so it really has to be embedded in the fabric of everyday behavior of every single person
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who is at lifetime. >> when you kalcame on, you alw told me you're under valued and the market didn't give you credit what did you do when you were private to make it better than when you were public >> during the private time, i was able to focus. i worked with david simon -- >> you worked with david simon is he the meanest guy on earth >> he's the best guy ever. he's as smart as they come. >> tell him to come on. >> i sure will i tell you, what i did is i took each of their malls and i said these malls can go from 1.3, 1.4 million square feet mall retail to like a 3, 4 million square feet mixed use developments. >> right. >> and then lifetime can be that in a place that brings 3, 4, 5,000 of the customers they want we can build lifetime living we can build lifetime work so i was busy reinventing sort of a mixed use development with the mall owners and then
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creating with the lifetime living and lifetime work concept, cohesive environment that is naturally and intuitively more environmentally friendly. >> do we have to worry about housing develop thements you're doing with higher interest rates? >> they're on fire. >> on fire >> our apartments in las vegas are getting $375 a foot. right next to the club the best other ones are 235 a foot it is once again, not just apartments they're literally like condos with this athletic facility attached -- >> mixed use like don wood does for reality. >> it's not really the same we're not competing. we don't do that many. there was so few it's really a -- >> one last question i was pounded by my daughter, why doesn't he change more it's certainly the greatest bargain. >> yeah, it really is.
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we started the company with very, very low prices with this big 100,000 square foot facilities and we charge too little over time we gradually creep the prices up. during the last two years we took bigger steps. there is huge value but we're closer to where i think it allows us to have the right number of memberships. >> even at this place where the rent must be a fortune >> still 259 it not a lot of money. we wanted to be an exclusive experience but want to be inclusive. we want to allow people to come in and enjoy it. >> i rarely say this but i'm proud of you because you told me over and over again, people should buy the stock if it's under valued and finally took matter into your own hands you did a great job. founder, chairman and ceo of lifetime and a hero in many ways
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to me because you said you were going to do things that was under valued and made it come true. >> thank you so much, jim. i appreciate you >> announcer: coming up the sky is the limit a special solute to service edition of the lightning round next
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she creates opportunities. small businesses like lauren's open doors for neighborhoods to thrive. support your community. support small business. we all have a purpose in life - a “why.” no matter your purpose, at pnc private bank we will work with you every step of the way to help you achieve it. so let us focus on the how. just tell us - what's your why? before we start tonight's lightning round, want to take a moment to thank all active duty service members, veterans and even military families for the sacrifices they make to defend our fabulous country so again, tonight, we're taking calls from service members from
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all over the country and now it is time, it is time for the lightening round taking calls, rapid fire, buy, buy, sell, sell, my staff prepares this and play this sound and then the lighting round is over. let's go to tim in texas, tim? >> caller: hey, jim, 32 years in the artillery. thank you veterans i'm looking at a company that managed technology digital solutions and operations in the cyber field bah -- >> first time i got a call from an unbelievable company. up ten times it was big down today and i would be a buyer anthony in texas, anthony? >> caller: boo-yah, jim. thank you for having me. >> my pleasure what is going on >> caller: i'm inquiring about lithium up over 38% in about six months. >> yeah, i don't want you touching that one. they actually have nothing they have no revenues.
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just -- look, i'm not saying it's a shale company get in something more substantive than that. paul in connecticut? >> caller: thanks for taking my call, jim. >> of course, paul >> caller: this company is completing a multi year transformation this quarter. they just received a 10.2 billion-dollar cash infusion from two spinoffs. they have also this quarter increased their cash flow, positive cash flow by $1.4 billion annually by eliminating the dividend and large debt reduction. >> right >> caller: jim, do you think it time to start layering into luman technologies >> no. they're behind the eight ball. it's too risky for you anyone that cuts a dividend is know my friend on the show and that, ladies and gentlemen, is
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the conclusion of the lightning round. >> announcer: the lightning round is sponsored by td ameritrade. coming up, a token of appreciation for productive assets but with some cryptos, you may as well flip a coin. learn to tell which is which, next power e*trade's easy-to-use tools like
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doig coin, polka dot, crypto coins made up digital currencies up $38 billion in reality, they may be up nothing. after the second collapse of the ftx and sam bankman freed they trade big every day could be no different than fool's gold and confederate dollars and ma onopl money. cryptopoly i got very lucky i cashed out near the peak and bought a farm with it. it seemed too good to be true. the collapse of ftx tells me it
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was too good to be true. in defense of the currencies make you feel like fools look who is foolish now. my take, if you have money in one of these comedies of coins, yesterday's snap back rally gave you the chance to get out of these before they go back down again, i've been against these crypto currencies for ages i got it from people arguing hey, you made money, why can't anyone else? the answer to that question is timing and luck plus, when i bought crypto, i never viewed it as anything other than pure gambling like playing powerball, which i also like i bought bitcoin and big crypto defender that can make big money if i listen to them. at the time he was right i bought atheruym. the price soared so again, made a killing. it was a lucky killing no skill whatsoever. but those days are over, people.
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the joke is done let the rim shot begin the emperors have no close a week ago sam bankman freed was running a entity with big institutional money. hundreds of millions of dollars from some major venture capital funds in the j.p. morgan and crypto and now he's under investigation. the crazy thing about it, though, really to put it in monopoly firms, the so-called investment fund alameda research was park place i think dogecoin, sorry, baltic. mediterranean, the ones at the beginning do that. polka dot, chain link, they feel like connecticut avenue as my mother called it and vermont i think the game is over so a lot of people, a lot of
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people lose the whole -- they toss the board i used to do that to my sister i tossed the board when i was angry. all the monopoly pieces started flying i don't want you to toss the board but that will happen as far as these extra special digitaling inassets, the mack y is boom teether. a $68 billion coin that might be as unstable as a three-legged cable yet, considered the safest way to trade these things because it's supposedly pegged to the dollar. heavy emphasis on supposedly crypto of the dollar you can use in the cash reserve account when you buy mutual funds they square by tether. they don't want teether mentioned by me. this is the biggest charade of all. tether is supposed to be backed by assets equal to the $68 billion they need to make it stable but the firm behind it won't let you -- tell you what's in it. they're totally opaque
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this stable coin may be backed by the full faith and credit of an enterprise you may have never heard of we know this something similar. sam bankman frees ftt was backed by the full faith and credit of nothing. you have to treat these coins and tokens like maybe a confidence game. as long as everyone believes in them, they can be worth something but ask yourself, if you're playing monopoly and one day you decided you know what? it's not monopoly money. it real money. and you bought it to say jp morgan, bank of america, would they accept it no, they'd think you're insane maybe if you own these now after the collapse of the jp morgan of crypto, you might want to take this opportunity to cash out i bet jp morgan or bank of america would accept the proceeds in dollars if you made the money in things so important that we see them all the time.
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cardano and salata or maybe, maybe, the hilarious dogecoin. cash them in before it's too late and don't look back i like to say there is always a bull market somewhere and i prom face to help you findsomewhere i'm jim cramer see you monday on the morning of august 2nd, 2016, bitcoin investors woke up to news of a shocking digital heist. >> nearly 100,000 bitcoins have been stolen. >> i logged into my account and noticed that my entire account had been drained i was crying and sweating. >> the word started spreading on social media everyone was freaking out. >> it was gut wrenching. >> bitcoin prices plummeted. bit fin exhalted trading. >> the


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