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tv   Mad Money  CNBC  December 5, 2022 6:00pm-7:00pm EST

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>> i like teledyne i think this is a business that has a good balance of defense exposure but the commercial business is doing well i think it's interesting >> karen >> wait, did you say the ceo of one of the banks along the banking line, if you want to buy back some bank of america callth is at sold a couple of 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 save you a little money my job is not just to entertain but teach about days like today so you can better prepare for them so-call me at 800-743-cnbc or tweet me @jimcramer
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we can't keep changing our minds, a sucker's game the dow plunging 483 and s&p plummeting 1.97% and nasdaq 1.93% nosedive the same nose as last week before you sell everything because you think everyone else is, here is what you need to know, the fed has a plan it wants wages to stabilize. it doesn't want them to plummet. the fed wants food cast ever c - costs to stay the same and cheaper cars and ideally wants things to happen with minimum cost to you. regular person although, that's a tough one it's a hard job. the economy is too hot money is flowing all over the system way too easily and still too much spending by both individuals in governments obviously, they can't do anything about the federal budget once the benefit from that infrastructure spending, think about steel, construction, timber, doesn't matter
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at the same time, the aerospace business is booming because travel remains strong so the airlines need more plays and that's how boeing can rally $2 on a hideous day for the average. while the fed made progress on the war on inflation, probably not enough unless you're taking the key from last week's very strong employment number what is going wrong? is really going wrong with the fed? first, there is not enough people who are returning to work maybe they took huge buyouts when people laid companies off like mad somebody in their mid 60s that isn't coming back to work not this close to a social security age. there is a tackcalculous. they started to take benefits early if the benefits are smaller. you're fine. they're not coming back. this is a real problem with
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industries that attract younger people like trucking and training and we saw on friday there is some movement here among this cohort to return to work but not enough to stamp out wage inflation for heaven's sake second, there is a terrible mismatch between the job openings we have and the people who might be interested in them. for example, we need tons of engineers for the $550 billion in infrastructure spending aught rie ielzed last year or for airplane engines, green energy stuff that got subsidized by the reduction act without the people to take care of it but we're tapped out of engineers it takes a long time to train these people for anyone capable of doing this work those people can name the price and they are not many people feel compelled to come back to work because americans are so much richer than before the pandemic, something you'd know if you listened to our interviews with the ceo of bank of america who ought to know he's got the facts. for roughly two years we had
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nothing to spend money on and got a series of huge handouts from washington. that's an immense amount of wealth creation and makes the fed's job more difficult hey, the odds are not stacked against them but the odds are tough. third, you know what we have we have too many coders or people like our near coders or something coder. i think many people in the business of customer relation management, data analysis, advertising are hanging on by their fingertips keeping their jobs hoping they don't get discovered they're doing nothing. meta discovered big layups because their expenses were crazily out of control versus revenues but most tech companie failed to realize it was over. they're dreaming enterprise isn't going to be like film development but this is one of the most bloated industries i've come across. people are hitting high-profile firms including the industry is in big time flux like acid reflux plus so many
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people in the business took payment in stock as well as cash and the stocks are so low the companies have to make it up with more cash or make up massive additional amounts of stock. they typically chose the ladder betting wall street would continue to be blinded by the revenue growth and not care about the earnings or lack thereof but that game ended a year ago for heaven's sake sooner or later a lot of these people will lose their jobs and many tech companies are too new with unseasoned executives who don't know when they need to fireworkers. the workers isn't in the building when you don't see them, you don't realize how bloated your company is i got guys here and there. you're bloated so they old on and the outcomes will be pushed out. stocks down 60, 70% will go down another 10 to 20% before dawns on these executives their job is to preserve the institution and that canmean making painful decisions. as a veteran of the. dot come wars, we brought
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public and both of them went under because people in charge didn't know what they were doing and wouldn't take the medicine, wouldn't bite the bullet, which by the way is not fun and i feel badly about how many people i had to lay off but it's the way to save the institution, which brings me to problem number four from the fed's perspective the sheer number of companies created in the past few years have pushed wages higher between spacs and ipos we had 600 publicly traded entities and a lot of employers and a lot of jobs many companies are hanging on but a thread, by their fingernails but raised a ton of money by 2020 and 2021 and that takes time many companies were rich to begin with they have so much cash to pivoto profitability. you think they would struggle to stay solvent we didn't count on them having so much money they thought they could ride this out. they can only keep bringing the
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pain until the money runs out and these enterprises go under we are not there yet, though i can't believe how many money losing enterprise' haven't laid off anybody but money was so bountiful they can last longer than they have a right to and the fed can out last them, it will be a painful experience for the whole economy. the longer the marginal businesses hang on the worse it is for everybody else. we can't make them surrenderer we can go back and forth on this topic every day. honestly today's selloff could have happened last friday it couldn't for some reason but gaming out the fed's next move is more of an art than science and artistry takes time. you got to figure out when people will come back to the work force and when money losing companies will let workers go or simply go bankrupt i think it's going to happen sooner than expected at this point. i think we'll be hearing about gigantic layoffs in this country after christmas and the
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turnovers already starting to occur in the last three or four weeks. don't worry, the fed will win this war either patient or with the former this is hard to pin down when we're between fed meetings but in the end this market is hostage to the federal reserve and the fed aren't tighten until we see more evidence of more economic pain. unfortunately, we're not there yet but it could be sooner than this market is now expecting i want to go to gail in massachusetts, gail? >> caller: hey, jim, how are you? >> i'm good, gail, how are you >> caller: good. i have a bet with my husband on which button you'll press when i ask you is this the time to jump on the peloton band wagon? >> you know, it's so funny you mention this it a joke like my wife -- i used to say she put her jog bra on the peloton. i heard someone make that joke
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the other day. i said it's late in the game i bet this is looking good i'm not betting against berry mccarthy so the answer is. >> don't buy. >> which is didn't from buy but different from sell. peggy in marymaryland, peggy? >> caller: hey, jim. >> hey hey, peggy, how are you doing? >> caller: i love them for a number of reasons and they have a low p.e., the dividends are strong and oil is -- i don't know if it's on fire but it's strong how far down will oil have to go to make dividends unattractive >> 70. 70 is the point where you have to rethink things. you know, carl asked me this morning do we see the bottom in oil? i thought maybe. i don't remember i think we saw it when it went to the 72, 73 and held i'm not giving up on it. i'm not giving up on devon i like devon very much we'll go to davis in my home state of new jersey, davis
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>> caller: boo-yah, jim! >> boo-yah, davis. >> caller: first time caller, honored to be able to say to you, my friend, you have a gift. analyze this. >> thank you, thank you very much. >> caller: i appreciate all the foresight you've given me through the years. but tonight, i'd like you to analyze the $24.6 billion merger between kroger and albertsons. >> all right this is a very complicated situation, davis, and i'll tell you why. i think the people that run the ftc and the person who runs the ftc does not listen to the ceo of kroger, rodney mcmillan that made a great case that would lower the price for customers. i think that she's going to reject this deal and they can sue but she's a very powerful opponent this market is hostage to the federal reserve and the fed is
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not going to stop tightening until they see more evidence of economic, unfortunately, we're not there yet but soon on "mad money" tonight, ulta beauty popped. what is bringing the strength? we'll discuss with the new ceo and jay powell has sights set on taming inflation and while chicken wings may not be a top priority i'm betting, i'm checking in with the ceo of wing stop to learn how decreased costs are impacting. not everything is going up and the sulfur space is a tough corner of the market for sometime but after earnings, is there room for the portfolio i'm getting the latest so stay with cramer. >> announcer: don't misa ss a second of "mad money." follow @jimcramer on "mad money. have a question tweet cramer #madtweets or send jim an email
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despite the weakness in retail, some chains are doing incredibly well right now. take ulta beauty, the nation's largest beauty retailer, think cosmetics, perfume, skin care and salon services last week ulta reported a magnificent set of numbers, gigantic numbers 15% same stores growth it blew my mind, much better than expected and all the more impressive because they were up against insanely tough comparisons. in better management raised the full year forecast, i thought dramatically but the most remarkable thing about the quarter, nobody seemed to care
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a ulta stock opened down and made a comment how a couple weeks in november would be weak give me a break. of course, a lot of it comes down to the fact the stock had run hard to the quarter and also gave less than encouraging commentary they talk about competitive holiday seasons but i think that that is just way toocautious but let's not take it from me. let take it from dave kimble, the ceo of aulta beauty. welcome back to "mad money." dave, congratulations on one more great quarter i have to ask you, where is all the money coming from? how can the customers have this much money to spend at ulta? >> jim, first of all, great to be with you and thanks for your continued interest in ulta beauty we're proud and excited about what we're delivering right now, the consumer is loving what ulta beauty is serving up and we're excited about the opportunity
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ahead. behind the headline numbers, 14.6% comp and 17% total growth, 15.5% operating margin comes a lot of detail underneath that really gives me encouragement looking forward. we saw strong broad based across every part of our business, double digit category growth across each major part of the business and ecom stores and salon growing and strength across geographies and member base we're excited what we're seeing and for me, it comes down to three core things. we're in a great category. it's important to our guests and important to consumers' lives. our business model is proven nobody does what ulta beauty does and third and most important, our team and culture. it allows us to deliver a great experience that happens in stores like this across the country every single day and i'm proud of what our team is putting together to deliver these great results. >> we are dealing in the country with what i regard as a labor
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shortage and the federal reserve is very worried about that how are you keeping your team together in the conference call you talked about wage pressure but somehow you also indicate that you're really not having any staffing problems, you're just trying to be sure that the customers still have it. >> we are staffed and ready to go you know of course we're at the peak of holiday season and it's critical that in our stores and our distribution centers, we have great teams ready to go and deliver and i can tell you we do, we have been working hard all year long to make sure that we've got the environment that delivers for our guests and i'm really, really proud of what we're doing and i tell you, it all comes back to culture. the environment we worked on for 30 years, 32 years of our history come together with a great environment that our team is passionate about our mission, passionate about our vision, that we care or our guests but we also care for each other and all been through a lot over the last couple years.
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i think our culture is holding us together, allowing us to attract and retain great talent across our business and allowing us to deliver a great experience in our stores, online, in every part of our business every day. >> all right we have about 330 million people in this country. how are you able to have 39 people in your loyalty program >> i think it's a reflection of our unique and powerful business model. great thing again about this category is that it's so important to consumer's lives. the way you express yourself is so important to who you are and so it's relevant to so many people and the fact that we have 39 million people, 9% growth in our loyalty program over the last year, makes me really proud but i know there is so much opportunity ahead. there are tens of millions of beauty enthusiasts that aren't part of all to beauty every day and our mission throughout our entire proposition is to make sure we're taking care of our existing guests, we're driving rate retention and royalty
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program. we're reactivating those that shop with us for whatever reason and we're attracting new members. and there is some key programs that we have in place to allow us to continue to bring new members. we're focused across all types of consumers but key demographics, genz we're number one with and we're trying to do that and latin x consumers are over indexed and we have a great opportunity to continue to grow with that group. black beauty enthusiasts represent a strong number. we're focused across demographics and have great execution in stores online and our partnership with target to reach new guests and that's a big part of our mission and it's core to our strategy every day. >> it sounds like your expectations for the holiday season are let's say much more exuberant than most retailers i deal with. >> well, we're in the middle of it i'm here in one of our stores in chicago and you can feel the holiday buzz every time you're in one of our stores
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i'm so proud of our teams. our store teams, our e commerce teams, supply chain teams work all year long for this moment, for these weeks that we come together to celebrate holiday and deliver gifting and glamming and makes the season exciting. a great opportunity to glam and as we move through covid, there is a lot more glamming opportunity. people out and about celebrating holiday with friends and family and of course, beauty is great gifting and if you haven't completed your shopping list, jim, i'm happy to help with that beauty is a great gift for beauty it a great time for us. >> estee lauder, my wife loved mac. you didn't have mac the first time years ago now you're probably the best place to get mac this is where i should go, right? >> well, mac is an example of a great partner and brand. the entire estee lauder. we have 600 brands here at ulta
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by the strategy deaf remember u -- differentiated us. we have makeup, skin care, hair care, bath, fragrance, wellness, we got all of the beauty experience our guests want to engage in and that makes us special. we're a great destination. i shared on the call last week that while we anticipate growth and moderate from the strengths we have in the third quarter, we're still anticipating 6 to 8% comp growth. having said that, our biggest weeks of the holiday period are ahead of us. we lead up through december and so we're focused on executing in our teams and stores like this across the country are doing a great job. >> all right i'll go get the gift certificate so i got everything covered like everybody else dave kimbrel is the ceo of ulta beauty great job. congratulations. >> thank you. >> okay. good to see you. "mad money" is back after the break. >> announcer: coming up, start your week with a little extra
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kick bird is the word when cramer sits down with wing stop, next
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to smooth, heal, and moisturize your dry skin. gold bond. champion your skin. what the heck got into wing stop over the past six months? this is interesting. the car nary in the coal mine. couple tough quarters and sent the stock from 187 in september to last year to 67 it got so crazy. the company had to push to a digital brand called thigh stop that i liked for the record. this is one of the first commodities to peak since prices came way down and wing stop put up incredible numbers including a blowout quarter. the stocks up 130 % from the bottom in may so could this thing have more room to run.
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let's dig deeper with the president and ceo of wing stop who first told us the stocks were coming down in may. welcome back to "mad money." >> thanks for having me, jim. >> you understand the business it's a great business to have an operator that really gets it you offer a tremendous value and have a great digital position where you don't have labor cost. it seems like it is really wing stop's time. >> that's right, our business as we talked about in may experiencing meaningful deflation and in addition to that, it put us in a position where consumer sentiment is challenged and we haven't had to take price in fact, we leaned into the proven value book to generate same store sales growth for 18 consecutive years on to is the years this year but in addition to that, we have growth levers we pulled bringing in new guests and you mentioned q three we had a 6.9% same store sales growth
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butl like other brands, it was coming from transaction growth, not price. >> that's really important you mention that and i want to explain that you had stuff in your conference call three, four, five, not just one two per month. people want your stuff and they keep coming back for more and more. >> that's right. wing stop is an indulgence they want to lean in and splurge and want a bold flavor experience we offer and this year we launched a chicken sandwich that gains another occasion for us in addition to wings. >> can you stock it? >> we can. we got plenty of inventory our supplier partners have stepped up and we're seeing the chicken sandwich in early days mix in high single digits incin increate mental mixing nicely.
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>> how about carolina barbecue >> it launched today. >> today. >> today. >> and you brought a couple for my crew, right >> we did on wings and a sandwich. >> bargain kind of price? >> the sandwich is priced at $5.49. cooked to order and great value. >> that's a reason why people say jim, i'm going to go buy a wing stop. i see them all over my neighborhood they have a lot of room. second, you can't just go call you and get a wing stop. you have to be a proven operator somewhere else before you get a wing stop. >> not only that, jim, do you have to be a proven operator, the majority of our brand partners and franchises make up over 90% of the development so they are just reupping with wing stop that speaks to the economics. we have a $1.6 million uav. >> which is amazing. 400,000. fantastic roposition why did wing prices come down? >> i think you saw suppliers
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ramp up supply they were able to staff up the plants and improved hatchability rates and saw a little restaurant reopening their dining rooms and shifting away from virtual brands and promoting wings that left to inventory and we talked about it coming, there would be meaningful deflation and we've seen that coming to play and as we look at the leading indicators right now, we see really, really favorable commodities for the 2023 business. >> some say listen, still such a bargain to cook at home. i don't think so i think this is cheaper to go to a wing stop than make yourself. >> i think that point was proven this summer when we launched a boneless meal deal 20 wings, three flavors, two dips, large fry for $16.99 whether you're two or three people, you feed quite a few people and it's a good value per head and we saw that reverse our trend this summer and setting us up for a really nice comp growth year. >> fantastic how about your advertising
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made a couple changes. you slide local to national. i think that worked. a lot of people talk about you now. >> that's right. i don't know if you watch nfl games recently. >> no, what's that not for long. >> endless -- >> good spots. we consolidated the local 1% and led to over a 35% increase in the ad dollars we can invest this year at a national level. >> it's working. >> it's working, that's right, jim. >> i got to tell ya, i think that plus the partnerships, i like the delivery partnerships they're working for you, too. >> they are. they are we expanded. we're one of the last brands to expand to -- from one delivery provider to multiple we added uber eats this summer and that's another growth level where we saw a completely different guest coming into our business that didn't have access to our brand before and we see a lot of runway in our delivery business to continue to drive our auvs that mentioned $1.6
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million today and have a line of sight to over $2 million. >> you're putting up wing stops now, there is one near me in pennsylvania and they're no longer the real estate is not that inexpensive anymore you can make that kind of money still? >> you can we have that really efficient box on average, 1300, 1400 square feet in line with over 95% of our business being off premise. >> ghost kitchen you have everything cooking for you. >> that's right. >> i got to tell ya, it's been a roller coaster but on the way up 2023, you've been dead right about everything in the future, you gave good numbers and nailed it i can't congratulate you enough for doing a good job michael skipper ceo of wing stop carolina >> that's a good one. >> we'll get it ourselves and have it tonight for dinner "mad money" is back after the break. >> announcer: coming up, enterprise software hasn't been
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much of a prize of late. cramer goes one on one with a company that's bucking the trend. next hello, world. or is it goodbye? you know, it seems like hope and trust are in short supply. [clap] now, as businesses we can blame and shame. or... [whistles] we can make a change. [clap] we can make work, work for our communities. create more equal opportunities. [clap] it's time for business to show its true worth. because it's not goodbye, world. it's hello, team earth. [clap]
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with calhope's free and secure mental health resources, it's easy to get the help you and your loved ones need when you need it the most. call our warm line at (833) 317-4673 or live chat at today. this past earnings season, last wednesday we got a terrific quarter from splunk. the machine generated data from cybersecurity. they had a monster set of numbers. wall street was looking for 25 credi cents higher than expected sales and raised the full year forecast substantially allowing the stock to sore 18% last
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thursday more important splunk was beaten down and headed for a serious slow down but the business is holding up fine and stock pulling back a little today, of course, everything else did too on worries the fed may have to tighten aggressively bad news for all things tech i'm not sure that makes sense. why? always say everything tech it doesn't have to be that way let's check in with the president and ceo of splunk as we approach the end of his first year on the job. mr. steele, welcome back to "mad mon money.". >> thank you, jim. great to be here. >> so you have come in, gary, and you have taken the company that frankly from the looks of things needed more efficiency and you've made it more efficient at the same time you've got revenue generation. it's been done in a short period of time. how is it occurring so quickly given that what i regard as a total change. >> i wanted to continue to drive
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durable growth but at the same t time, increasing profitability and this one team is amazing responding and driven a lot of instant business in a short period of time and companies rely on us every day and striving growth. >> a predecessor said to me that they were going to be a cloud based company by now that that's where splunk was going and i'm questioning whether everything has to be cloud based immediately. when i look at your numbers, they are profitable. i care more about profitability than a journey to cloud. am i right in that thinking? >> you absolutely are. at the end of the day our customers rely on us for hybrid environment and we have a lot of customers that will stay on preliminary for some period of time cloud growth was up nicely at 46%. so we're making great progress but i'd have to say the one
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thing that has been affected my macro conditions is cloud my dpr - migrations but we're happy to let them take on the cloud when ready for it. >> at the same time, there are some entities that don't seem to be that worried about these things and talking about the u.s. federal government. multi million agreement has to be one of the best contracts out there to win. >> you know, we had really nice wins in the public sector space and proud of the team and there is more opportunity for us broadly in public sector and we're doing really interesting things there from private public partnership to create a lot of value. >> we know it was really kind of -- the attention on salesforce but the people from starboard took a position. they're active and talking about quote explore strategic options for the company. i know that group. i know they can be genuine i want to know are they really
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pushing you that hard to sell the company when there is a lot of value here that you haven't had a chance to develop yet. >> well, you know, it's interesting. we obviously value the feedback from all shareholders and i've had a couple conversations with starboard and the conversations are very constructive. my path is let's drive this durable growth and expanded profitability and that's all shareholders interest. >> a bundle with splunk observebility, there were many different splunks with splunk and i thought one day it would be stream lined. >> we're trying to simplify the streaming model and as we included in model and granted that creates efficiency as well and the customers matter for us. >> i'm waiting for mna a lot of customers started in
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the last three years, four years and ran out of capital tell me about twin wave. cybersecurity remains to be a terrific business and you picked these guys up and i don't know the full details i'd like to know them. >> yeah, no, relatively small acre session but interesting technology that does threat analysis it fits with the core capabilities we're delivering to our customer and extend that value and we have amazing cybersecurity talent along with i it. >> when you have 90 of the fortune 500, what else is there to gain? the fact is you're in some of the 90 and you can be bigger to me, i don't want to use the cliche but the fact is you're touching a lot of companies and you can get bigger in the companies. >> so we think about the global
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2000 to deliver cyber and overall resilience on the business that's what we're focused on can we go bigger absolutely more prodl broadly, how do we e our reach today? two-thirds of our business is from the americas. we have a lot of opportunity outside the u.s. >> one last question, my friends in your space don't look at the stock anymore. the stocks are reflecting a tsunami of pain but some companies are doing better than others is this the time that just hunkers down and not look how splunk is trading? >> i think at the end of the day if we can continue on this path of delivering durable growth with increasing profitability we can have great outcomes for shareholders. >> it doesn't matter if there are activists or non-activists, they are l this is a gary company to make good for shareholders.
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>> that's what we're focused on >> gary steel a hero of mine and made so much money and at a company very inexpensive versus what he's doing. president and ceo of splunk and "mad money" is back after the break. >> announcer: coming up, cramer takes your calls and the sky is the limit. it's a fast fire lightning round, next. ♪ ♪ i need that wishing star to get my life back. it's like a possum crawled on your face and died. please, mock me quietly.
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it's hello, team earth. [clap]
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it is time, it is time for the lightning round buy, buy,
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buy, play the sound and the round is over. time for the like ning round, josh in massachusetts, josh? >> caller: jim, your energy is off the charts you're like a racehorse going down the stretch, man. >> too many companies. too many companies any particular one you want to ask about? >> caller: what's going on >> penn is a very inexpensive stock but everybody is in the stock business and until more people clear out or give up or merge, the betting business becomes very tough i do like penn they're good guys but i can't recommend the stock right now. i want to go to chris in georgia, chris >> caller: big georgia bulldog boo-yah to ya, jim. >> man, are you guys good? the birds, he's dynamite you got a great squad. what is going on >> caller: my question today is
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about a company toted as being the future of the splash sym. buying, selling or holding >> a spac. money losing spac. we're not recommending money losers maybe they got a great story but they're losing money and we're not there when they're losing money. i need to go to john in north carolina, john >> hey, jim cramer, how is it going? >> yo. good how about you? >> caller: i'm great i'm a long time watcher and member of the investing club i appreciate everything that you do. >> yeah. so we had good stuff i thought i'd do this last night after i was watching the cowboys beat up on the colts that was unfair. they should have stopped that game go ahead >> caller: this stock has been out performing the market over the past three days of trading breckenridge and sweetwater brewery. how do you feel about tlry. >> smart move by irwin simon to get into the beer my kids like
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to drink, however, they're losing money but they and canopy if you want to own them, you can own either one i won't fight you on it. let's go to fernando in new york, fernando >> boo-yah, jim. this is fernando from new york and i want to say i love your book. >> thank you, man, what's going on >> caller: not much. i've got a company here that's well-known by somebody we know is very well-known, our ex president. >> right that's a complicated situation i mean, that's one of the spacs not making money so i'm not necessarily being political when i say the spacs are not making money are stocks i don't like, whether i like the guy or not, they are stocks i don't like let's go to daniel in michigan, daniel, my brother, what is happening? >> caller: jim, boo-yah, thanks for taking my call. >> boo-yah. >> caller: clear field i bought around mid 50s and wonder if it's time to take money off the table.
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>> no, this is one of those companies that is broadband and a lot of interesting broadband rule last year. i do like dot come i have to do more. i'll sit down with ben, my expert on rural broad band and we'll find out more about it let's go to jeff in texas, jeff? >> caller: what's going on boo-yah mr. jim. what's going on? >> boo-yah you know, i'm hanging out. how about you? what's going on? >> caller: loving life i got a quick question what's your thoughts on long term stock zim integrated shipping service. >> no, i won't change that now mike in minnesota, mike? mike >> caller: hey, j-money. >> yo, man, what is happening? boo-yah. >> caller: just a quick question for you.
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>> okay. slow, quick. >> caller: looking at pager duty ticker symbol td. >> they know how to put up a great number great number no doubt about it. but the segment is so hated it just didn't matter what can i say that's the truth let's go to anthony in michigan, anthony? >> caller: hello, mr. cramer, this is an ththony from michiga. >> what's going on >> caller: not much. i'm an action club member also. >> fantastic. >> caller: i want to know with berkshire, they're been having difficulties with the insurance company and i want to know what your thoughts are on particularly the craft beer. >> i wouldn't worry about insurance. they are pros. if you want to make money insurance, they are doing an unbelievable job but warren buff f -- buffet a class by himself
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i'm a believer in burke shire m hathaway going to dave. >> caller: formerly said chicago exchange, now cme group. jim, your thoughts >> winner, winner, chicken dinner cme of course dave calls, a winner this stock is too cheap given the growth rate. terrific you got a winner that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightening round is sponsored by t.d. ameritrade coming up, roller coaster moves always put investors on edge from the dot come bubble to the recent bath taken by bitcoin how to keep your money safe.
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good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back.
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when carl marks said that history repeats itself versus tragedy that is farce, he could have been talking about this market because the crypto currency collapse is like a
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reenactment. here is a software stock that surged from over 100 in 1998 to 3,130 at its peak in march of 200 for plunging an astonishing 99% down to 4% and 50 cents. you can't make this up people defended it every dollar down it's a good software company i'm calling the mistake. we saw the same darn story with the same darn stock. micro rallied from a low in march of 2020 to a high of 1,315 in february of 2021 and back down to 195 and change solid and that's less traumatic than the dot come era. michael sailor we see on tv
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resurrected as a cloud services power house. with 51% growth in the subscription service revenue in the most recent quarter as the overall business was flat yet survivor dove head first into crypto into the crypto crash the company signed by bitcoin and plowed $4 billion into bitcoin investments worth 2.2 billion, easy come, easy go and that is after bitcoin's rally about 2500 from the lows two weeks ago and honestly, when you looks at the stock's rise and fall over the last two years, it pretty much comes down to bit corn a coin why is nobody scrutinizing this? according to mr., they're in the business of delivering unmatched data and the power play of data horsepower and data creativity end quote.
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kind of sounds like splunk meets adobe, doesn't it? this is a company with less than $2 billion market cap and bitcoin, it really went all in crypto and right now that's looking like an illed a eadvise position there is no way maicro strategy can build after sam bankman freed could have $34 billion in losses and i'm betting ftx won't be the last to go under. that's not just my view. the ceo of black rock said quote, i actually believe most of the companies are not going to be around end quote most is my emphasis. that's a strong indictment of the industry and i'd add the more marginal crypto coins that represent $50 billion in assets, they might be headed to, i don't know, maybe zero they aren't worth your hard
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earned dollars they might not be worth anything you could argue we shouldn't care about crypto but for some business, it's very real like micro strategy and might be real for you. micro strategy's entire valuation is bitcoin meanwhile, tether a so-called stable coin that is supposed to be kind of sort of pegged to the dollar has a $65 billion market cap despite the fiasco how is that plausible? you pulling my leg there is a whole industry of crypto boosters trying to keep these things up in the air, not too different from what 45happed with bad stocks during collapse i told people to sell the.comes in march of 2000 in a article i said get out right before the peak. nobody listened. they didn't want to hear it. i've been telling you to void this crypto for ages, too. i told you sold by bit koichb a l long time ago at advice of my wife and used proceeds to buy a nice farm and judging what happened in the dot come period,
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you can't say it's too late to s sell it's never too late to sell an awful late position and that's what you have with digital assets that may not be worth the paper they will never be printed on there is always a bull market somewhere and i promise to find it here on "mad money. i'm jim cramer, see you tomorrow nt will face these sharks. nt will face these if they hear a great idea, e money or fight each other for a deal. this is "shark tank." ♪♪ is an entrepreneur with a solution to one of the holidays' biggest headaches. hi. my name is shawn genenbacher, and my company is lite-netics. i'm seeking $125,000 in exchange for 20% of my business.


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