Bobby kotick, is telling us how hes turning one of the most popular games into a Sports League of its own. First, the dow surging back after a spike in rates this morning. A loss is what happens when there are more sellers than buyers those losses were shortlived with the dow closing basically flat so with stocks near record highs again, we thought we would play a Little Mission impossible stock. Your mission, should you choose to accept it, find a cheap stock trading on the s p at its highest valuations in a decade we have our own tom cruise at the desk in the form of tim seymour. Maybe rob lowe. Jack wagner, maybe. We talked about if the airlines are cheap ill leave that to them, if theyre so inclined. Look at Prudential Financial that stock is trading ten times forward p e. They just raised guidance recently if youre looking for places that still offer value, and potentially a rising rate environment, a name like pru will get you done. Financials. With an insurance tail. Im going to riff off of that im going to be a little bit controversial, the p es here are not low. But take a look at the etail brokers, e trade, schwab. If rates are going up, these guys make a ton of money in that environment. Thats my play i like where bk is going. Clearly if its a market where its expensive, people are trading and these guys have had a massive, massive run i think the p es are excessive. Ill take guys financials ubs trades at. 86 times price to tangible book. European banks dont get the same bang for their buck, although some of them with operations here do very well i think the Interest Rate story that was also part of todays market but were just talking about stocks, i will say, as rates go higher in europe, european banks do better than u. S. Banks europe has gotten a lot of their capital issues in order. Swiss banks who are focusing on Wealth Management is especially cheap. Then i do have to go back to the autos, i look at gm and say, somewhere here around seven times, even with a big rally in the stock, based upon recent guidance we got on 2018, i would stay right there auto is a tough day today gm, particularly nafta is what gm. Im long gm, i do think its cheap. To me, the cheapest space, the airlines guy touched on it, there was recommendation change from underperform to buy on united and decent data out of united and american. I think theyre cheap here, certainly relative to the market, as they should be cheap, theyre cyclical, right . A lot of great things are happening in the economy, in their business they are a beneficiary of the tax situation. So i think theres room to run here i hate to say it on a day when theyre up so big. But youve been saying it for a long time. Ive been saying it a long time i still think theyre cheap. Delta, united, and american. Mr. Bill miller likes airlines as well, has liked them for some time. He clearly has been watching karen and tim on fast money at 5 00 let me talk about delta. I believe they report earnings tomorrow i also believe theyre currently trading around ten times or so forward earnings, theyll make close to 6 a share next year. They should have a bigger multiple than that even at a 11 multiple, its a 66 stock. Im with karen, these earnings should be good and the stocks are breaking to the upside i pointed this out for united, and ill point it out for the airlines last night united was up 6. 7 , the street was up 5. 2. Guy loves to talk about prasm, it will come in flat, it was expected to be slightly down as our friend hunter at wolff says, they may use this to set the table for 2018 i still think there are at least some choppinesses in terms of their capacity issues and efficiency issues for 2018 and it may not give you a lot of great stuff to go on even though last nights guidance was fantastic. Karen talked about relative to gdp. Say what you want about the airlines in terms of multiples, but relative to a 3. 5, 4 gdp economy, these are very cheap stocks theyre trading as if were going through a recession. Theyre not. Its important, cheap in value is relative in a market at record highs nobody has mentioned any dogs. Nobody has mentioned stocks that have been challenged over the past year. Ge is the biggest dog its not cheap right its really not says the owner of ge at higher prices. Says the owner of ge. I also think this eps guidance has been washed out. And i think these guys have intentionally said, were focusing on two or three core businesses and off we go i continue to maintain ge is very cheap thats what gives me the comfort to hold it its gm that got kicked in its doggie days. I mentioned this a couple of times this week, its controversial but thats my nature, ibm. Did you hear the Warren Buffett interview . It sounded like he was selling to me. It sounds like there will be big news about ibm not good it sounded like part of that was for taxable reasons, thats not necessarily a bad thing. Okay. Secondly, he bought that because of the buyback my view on this is whats the catalyst that will move ibm shares higher . They are huge in the two biggest tech trends we have coming up, ai and blockchain. Why wouldnt you want some of your portfolio to be in that ibm does not get enough credit for that therefore thats why its cheap and why i think its going to get more expensive and this is bk is on to something, tim gave him cukudosn it a week and a half ago maybe theyve finally turned this thing around and its very difficult to be short this stock in this environment into earnings when they potentially have so theres a very good chance ibm, i cant believe im saying this, will continue to run into earnings, i think its 2 1 2 weeks. Let me push back on this, because although i said it was a decent idea and i think it was now you walk that back . One of my better ideas. One of your better ideas, which is really troubling. No here is what i want to say about ibm. Theres a tendency at a time like this to say we have to find the next thing and dig under the rubble dogs are dogs, and ibm has been a proven dog for a long time its a company that needs to remake itself. Its engineered earnings for a long time. What theyre doing in mainframe in terms of infrastructure is very good in terms of infratech. In terms of what theyre doing in blockchain, i have no idea. I have to say im a little surprised it hasnt gotten more of a bid based on the kodak bid. Right thats why i think theyre not getting enough credit for it what ibm is doing in the Blockchain Space are what are called private chains, basically like when you had the internet, you had intranets within that doesnt get a high a multiple because it may not be as scaleable as people think that being said, its not that hard to pivot from a private blockchain to a public blockchain thats what people are missing with ibm our next guest says we might be on track for the greatest bull market ever, wow. It has been a while since weve seen julian emanuel, now chief equity and derivative strategist at bdig, congratulations its been nine glorious years built on gains derived from low rates, Earnings Growth, and you met expansion, significant multiple expansion however, the road to 3,000 we think is going to be a little different. We think the gains this year are going to be built on Earnings Growth and we dont actually need multiple expansion, because were going to have single digit, high single digit, low double digit Earnings Growth bolstered by tax reform. The question is, after gains of 305 , could this end up being the greatest bull market of all time quite possibly but if thats the case, were going to have to beat the bull market of the 1990s. However, in our view, if you keep Interest Rates in check, you keep this global synchronized growth metric in check and Earnings Growth continues apace, we think you could get there by the time this bull market has run its course greatest bull market ever shall we invite julian over . Come on over, julian karen will bring the chair in. Thank you, karen take a seat, julian. Welcome to the desk. Great to be here. Whats the thing, though, that could derail the greatest bull market ever its a couple of things if you get too far in the tenyear, 3 is too far, the distance between where we are now and 3 is going to be a reflection of a more growthier metric you get too far and stocks will have to start discounting the fact that rates are higher than expected the other thing of course would be if the economy starts to turn over we dont see that. Recession probabilities are very low. Things are growing nicely. If that happened to happen, and the fed continued raising rates, which is how bull markets typically end, thats where we run into problems as well. Fed missteps is probably at the top of your list of things that can go wrong. Yes whats the probability of that happening well, you cant discount it, because if you look in the past, when youve had fed leadership transitions, as were about to have, markets have run into problems it happened when greenspan took over from volcker in 1987. The financial crisis happened a year after bernanke took over. Markets tend to have to digest those werent selfinflicted, though this would be selfselfinflicted the fact is, its not just powell at the top that would be different, the whole leadership is going to change the market will have to get the confidence that the fed will keep things moving on the right track. Julian, ive known you for a long time. Hearing you this confident about markets, i mean, this is a very smart strategist, a guy who looks for whats wrong i know we talked about the fed, but isnt the fact that Consumer Confidence and Business Confidence are at record highs, doesnt that tell you that were at extreme levels, that a guy like you that thinks contrarian is wrong, that tells me thattings that in positioning is already here. It cant be that good. Fair point. Thats part of why we think that this years narrative is volatility moves higher. Thats a got to be a dose of reality. 2017 was too easy. The money was too fast, lets say. But for us, the fact is, is that this global synchronized growth metric, it doesnt die easily. And thats really significant underpinnings. And yes, were worried about valuation. Its a concern every day and we get lots of questions on it but until rates really start to move, we can move higher its not valuation, its confidence, to me. People are too complacent. Last question, julian, then well let you go 3 . Do we hit that this year we dont think you do were sort of keying off of consensus. Thats around 288, 290 so at least another year for the greatest bull market ever . Thats what were thinking. Julian emanuel, thank you btig what do you think . If you look at the market today, what are the risks out there . Its the bond market we saw it this morning, bond yields up all of a sudden for the first time futures why down ten handles that was like running around with your hair on fire big news. Its not really that big news. But for this market it was big news so i agree with julian, somewhere around 3 seems to be the trigger that most people are saying, you know what, this is going to start to impact valuations, were going to have to start taking our earnings down, start taking our targets down you might want to get ahead of it and start taking profits. When they get to 2. 9 what have you done today . What do you think of the whole greatest bull market ever . Im always long, thats my bias buy s p puts against it, thinking the volatility will spike higher, which happens for like an hour and they expire worthless, which is okay, it helps me sleep at night. Im long t t to me the biggest risk is Inflation Forces the feds hand. The market is okay with whats on plan right now. With a spike in rates yes, an unexpected, significant spike in rates what did you do today a stock that fits into our earlier discussion the jnk and the hyg were to the high yield etfs, trading today and yesterday through the 50, 100, 200 moving averages that to me is showing sensitivity to credit. Coming up, the dean of valuation says you cant value bitcoin. But theres one surge in cryptocurrency you can value hell tell you what it is. Plus Activision Blizzard is making a bet on one of its biggest games. Well talk to the ceo. And later, one retail stock is surging and someone on this desk thinks its the beginning of a major tnaurround. Much more fast money after this your bbf your backup singer. Your frenemy your boo your roomie so one phone for you and one phone for someone in your squad. Buy an iphone 8 and get a second iphone 8 on us when you have directv. Welcome back to fast money. Lets take a look at target, topping the tape shares soaring more than 2 today, now up more than 6 this week after the Company Raised guidance after stronger than reported holiday sales are target shares finally hitting the bullseye, are they the next walmart, karen . I dont know, maybe i would have thought the stock would be up more today i thought that was pretty good, and they see some momentum and, you know, i dont think this is an out over their skis kind of guidance maybe theres a possibility they do better than that. Its not super cheap but nothing is super cheap right now i think its sort of interesting right here forced to choose. Another way of saying would you rather, in disguise, my little trick. Target or walmart . Tgt tgt. We sat not on this desk, upstairs we are upstairs or downstairs this is upstairs. There is no upstairs it was 6 30 in the morning, target came out, stock was trading, i looked at you and said, dont fade this move, mel, remember that . Yeah. Except for a brief period of time a couple of weeks ago after they reported this, the stock has been a rocket ship no, its not cheap, but its cheap in comparison to walmart which gets to the conversation from the top of the show, is walmart value, is target a better value . Walmart is trading at two standard deviations. Walmart, its old self, didnt have this whole e commerce think that people think is going to compete with amazon. Target made some noise about their ability to compete in ecommerce this is where target is cheap to its peers, relatively in line with itself. Maybe that multiple needs to go higher theres a tiny chance that target could get acquired. I wouldnt own it, but it is possible i wouldnt pay anything for it but that is a possibility that walmart does not have. For me the catalyst here, i would pick target, to answer your question. Ive liked walmart quite a bit all through 17. Here i think theres just more upside surprise that could come out of target. I know what walmarts strategy is, its a good strategy but target has multiple strategies they could hit. Maybe theres a bid, they my get taken over i still think theyre a catalyst for 2018 Patrick Doyle is about to speak to jim cramer, his first interview since announcing hes stepping down from the c suite in june. Im melissa lee. Youre watching cnbc, first in business worldwide meantime here is whats coming up on fast. Warren buffett bashing bitcoin. But after you hear what he said about internet stocks in the 90s, you might go full crypto well explain. Plus shall we play a game . We shall. Video game stocks are on fire. And east port could take one of them to new highs. The name when fast money returns. In terms of cryptocurrencies generally, i can say almost with certainty that they will come to a bad ending now, when it happens or how or anything else, i dont know. But i know this. I get into enough trouble with things i think i know something about. Why in the world should i take a long or short position in something i dont know anything about . That was Warren Buffett sitting down with our own becky quick. This isnt the first time bust has bashed a speculative industry with sky high valuations take a listen to what the oracle of omaha said about internet stocks 20 years ago. I would say theres no one here that can understand some new Internet Company i said at the annual meeting this year if i were teaching a class in business school, at the final exam i would pass out information on an Internet Company and ask each student to value it and anyone who answered, i would flunk. Go gators, by the way thats what papa told University Students in 1998. Internet stocks have come a long way since then since the tech sector makes up a large percentage of the s p 500. Is this deja vu . Is buffett right about crypto . Or does one of the greatest investors of all time have it gone bk, youre going to say yes, he has it all wrong you know what, im not going to say hes got it all wrong there are parts of the Crypto Market that are in a speculative frenzy youre getting valuations in some of these things, im not necessarily talk about bitcoin, some of the smaller coins, youre starting to see speculative frenzy they dont have much behind them and they will end up bad in that particular sense an important thing to remember here is, you had a bubble in internet stocks, but it was still a Transformative Technology amazon, facebook, google, all came out of that era if youre looking at whats the next internet investment over a long time frame, then buffett is completely wrong im invested there. I dont know how were doing on valuations, brian. You talk about valuations being fraught. Im not even sure whats there im surprised mr. Buffett didnt talk about the equities that are attached to crypto and putting valuations and why he didnt reference a kodak, which maybe ill look even sillier when its 30 bucks a share, but to me, i dont understand this. I will say, and this goes back to the rbc interview we had the other night, the fact that its conceptual, the decentralization coming from crypto is something that a lot of people have a tough time finding an explanation for. Its there Aswath Damodaran is a professor at nyu and joins us from california. Is Warren Buffett right on crypto i think hes brushing the entire sector with too broad a brush. I dont think you can write off cryptocurrencies altogether. Will it end badly for some of the people involved . Absolutely, for those people who got on the bandwagon late and are playing the pricing game for some of them, its going to end badly. But looking forward, i agree with your panel that there is a future for fin tech. I think we mix together lots of different crypto investments in the cryptocurrency space some of them are going to succeed. Some of them are going to not. I think to put them all together in one big bucket and throw them over the edge doesnt make sense to me. Is that why you think you can value ethereum versus bitcoin . When i look at the cryptocurrency buckets, i see three separate buckets theres cryptocurrencies like bitcoin, which cannot be valued because theyre currencies ethereum is a crypto commodity its marketed as a lubricant for smart contracts. And smart contracts are what the fin tech, the Blockchain Revolution is going to deliver ethereum can become a significant part of that business and you can value it as a commodity. There are commodities that can be valued as slices of businesses to view them all as worthless and useless is wrong its karen, let me ask you something. In the original internet bubble in 2000, did you find you had the same ideas about difficulty of valuation, or were there other metrics that got you comfortable then you know what, i love valuing difficult to Value Companies it makes me strange. I get them wrong every single time hes the dean of valuation. So i valued amazon every year since 97, i bought amazon four times, i sold it four times. I didnt buy it at the right time, i didnt sell it at the right time but to me there is a way to Value Companies. I dont think you can walk away from a business and say i cannot understand it because the older you get, the less youll understand if you take the buffett view, most of the world will be out of bounds for you weve got to try to value businesses even if theyre young, even if theyre in places where everything is evolving, everything is changing i want to get back to ethereum, since you think we can value it how is it valued right now relative to how its trading i think every single crypto asset is being priced right now, its not being valued. If you ask people why theyre paying what they are for any of these crypto investments, you dont get a logical answer you get an answer, i think i can make more money on this. I dont think any of these investments are being valued right now. Theyre being priced thats not unusual either. You could say the same thing about the dotcom sector in the late 90s. Every company was priced eventually valuations matter and that eventually might be a year from now, two years from now. Maybe thats what buffett is talking about when he talks about a bad end. When that valuation time comes, some of these crypto investments are the no going not going to hp theyre all pricing it okay, theyre priced. But how do you value it or have you put a valuation on it so we can gauge what the disparity is . Whats holding me back is i dont see a Business Model yet from ethereum. Theyre talking the talk but theyre not walking the walk yet. Theyre talking about how theyre lubricants to the smart contract business. But theyre not being lucid on the way they plan to make money in that business i cant get ahead of them and create a Business Model for them thats not my job. So until they create a Business Model, im holding back. But i think that will be the next phase in the crypto investment market. Youll start to see people pushing these crypto investments to come up with Business Models, to show how theyll make money thats part of the life cycle of investments as well. Dean, its brian kelly. Ethereum is an open source compa project, its not a company. So theyre not going to put forth a Business Model necessarily. Part of their proposition is theyre picks and shovels, youll build on top of it. But eventually the picks and shovels have to get pennies on the dollar or the picks and shovels are worth nothing. Even if its an open source model, some of the revenue generated from using those picks and shovels have to accrue to ethereum if that doesnt happen, its worth nothing. If that does happen, its worth something. The fact that its an open source model, its giving the picks and shovels, doesnt make it necessary that you will not be able to generate those cents on the dollar. Aswath,thanks for your time always great to get your analysis thank you Aswath Damodaran of nyu, the dean of valuation. The dean. So do you agree in any way theres really no way to put a valuation on the cryptocurrencies on currencies themselves, theyre notoriously hard to value, because a currency, nearly every occurrenccurrency,h u. S. Dollar, the euro, is a matter of faith, can i use this to buy something in the future its very ditcfficult. The best way to value these is to look at them as a social network. What are the number of monthly users, am i spending time on it. The question is how Much Development is going on on the Ethereum Network or bitcoin network. Those are the metrics you should use to value these if you put a dollar value for every traction added to the bitcoin network, how do we come up with this price of 14,395 on our bitcoin bug there . Is there a price, is there market cap for volume . How do we do this . I would aggressively argue against the view that the dollar and the euro, you cant value them those are tradeweighted terms, theres purchasing power parity, theres all types of metrics relative to themselves but i dont think youre wrong in crypto, i really dont. I think youre right but i think the fx market is very different ahead, more bitcoin, of course and if buffetts harsh words have you worried about your crypto profits, dont be bk has a way to protect yourself hell explain later in the show. Plus Activision Blizzard making a huge splash in the e. Ports spac the activision ceo will be here in a few minutes hes one of those guys who always smells good. His 5 oclock shadow is always at 5 oclock. You like him. Your mom says hes done really well for himself. He has stocks and bonds. Your dad wants to go fishing with him. Your dad doesnt even like fishing. You like your brotherinlaw. But youd like him better if you made more money than he does. Dont get mad at your brotherinlaw. Get e trade. Welcome back to fast money. Lets take a look at some of the hottest tech stocks of the last year no, were not talking apple or faang stocks were talking about gaming stocks names like what is that music for . Sounds like pacman. Mario activision seeing double donkey kong this all as esports seems to explode. Julia boorstin has more. Reporter thanks, melissa, bobby, thanks for joining us youre at the new blizzard esports arena opening at burbank studios. I know this is a really big day as you launch your new Overwatch League when will we start to see esports impact your bottom line . Well, i think its a ways before were going to see certain revenue streams. Were already seeing a lot of traction and enthusiasm from fans this is the opportunity to celebrate the very best players in the world our professional players from these 12 teams are the best overwatch players in the world its really exciting to be able to celebrate them. Reporter do you think the big picture is more about promoting your games through the competition of esports or is it more about the revenue that youre going to drive through these are competitions themselves reporter look, i think, you know, you have the benefit of both with 35 million overwatch players who are enthusiastic players, theyre very invested in the experience of overwatch, the opportunity to have the spectator experience that is the most professional, high quality competitive experience to watch, is going to be very exciting for people and i think that what weve already seen is a lot of traction and interest from team owners i think when you see the production values of the events themselves, they are the very, very best production values in sport. And i think youre going to see a lot of audience enthusiasm we already have fantastic broadcast partners like twitch and mlg. We already have great sponsors like hewlettpackard and intel we have licensing that is really under way. So i think all of the commercial opportunities that exist in professional sports are opportunities that are available to us also plus you have virtual items, you have, you know, over the top Advertising Opportunities that wouldnt exist in traditional sports so, you know, we have the best of all words, and we have an enormous fan base that were satisfying reporter your Overwatch League signed a deal with amazons twitch reportedly for about 90 million. How important is amazon and twitch as a partner for Activision Blizzard . Theyre very important. I think twitch has done a great job of building out an audience and enthusiasm for esports while most of what has been available on twitch has been user generated content, youre starting to see, especially with Overwatch League, highly produced professional content that we really think is going to transform the viewing experience you mentioned digital sales, you benefitted a lot from digital sales, one factor driving up your stock this year. How much is there room for digital revenue to grow . You dont sewe dont sell a o things the bulk of our revenue will continue to be digital reporter meaning that everything is digital . We make zeroes and ones for a living thats what our enterprise does. Reporter speaking of digital revenue, will you accept bitcoins or other cryptocurrency as part of those payments that consumers make you know, our view about payment, we have 400 million customers around the world in 196 countries. And one of the things we worked really hard to do is make sure that the payment that is the Payment Methodology of choice for the customer is what they have access to were very supportive of whatever mechanism our customers choose to pay. Reporter sounds like bitcoins will be the next big Payment Method perhaps for you guys thank you so much for joining us from your new blizzard esports arena, we hope youll come back and talk to us again after earnings melissa, back over to you. Thank you so much, Julia Boorstin with activisions Ceo Bobby Kotick its expensive stock, and given the trajectory of the move, its hard to get on back tim did a whole thing about it a year ago league of legends how did you not know that music at the top maybe i did that music. Its like led zeppelin to me. Its almost a free option on that whole digital sports thing. Youre getting tremendous upside the optionality in this stock is tremendous i think you stay with it tim if you think about whats going on in esports, its 700 million business which is probably going to be a billion and a half in 2020 if you think about the multiples but you think about whats growing here in the demographics, so 80 of the players here are 18 to 34, apparently 65 of them actually have a job, which is also amazing to me. So again, you have people that are going to be consistent users that are going to be manic users on some level, and youre getting them young its all changing. And i think the sports world better watch out and theyre spending money inside whats interesting about the bitcoin question, there are quite a few coins being created so you can buy digital currencies, cryptocurrencies, buy within the games you can buy skins within the game skins for your score and stuff like that the other thing is remember mark cuban did an initial Coin Offering or invested in a Coin Offering if youre outside the u. S. , you can bet on these games when people ask me about skins, i get worried what are they im not sure. In minecraft theyre always telling me i have to get a new skin its your outfit that you wear given the potential growth, this stock doesnt seem that expensive to me. It could be value, even though its skyrocketed. Getting back to a bitcoin conversation, yes, its extraordinary value on a metric basis relative to its growth i dont know i think that i mean, its always been expensive, it deserves to be expensive this potential growth, i think its not crazy tencent owns a piece of blizzard vendi owns a piece of this space. Options traders are betting on even more gains ahead lets get to mike khouw in austin, texas. Hi there. Take two interactive saw four times as many trades than puts we saw a lot of that activity on the february 1 calls, 1500 of those traded for 3. 50 its up more than 7 by february expiration, more than five weeks away the stock does tend to move on earnings with that in mind, these dont seem that expensive. At 27 times earnings, maybe its not that expensive a stock either thanks, mike. For more options action, check out the full show, friday 5 30 p. M. Eastern time. Coming up, Patrick Doyle announcing his departure from dominos this week you wont believe what he just told jim cramer. Plus Warren Buffett warning about bitcoin on cnbc today. If youre worried, what should you do brian kelly will break it all down in just a few minutes more fast money still ahead. Two,that was awful. Why are you so good at this . Had a coach in high school. Really helped me up my game. I had a coach. Math. Ooh. So, why dont traders have coaches . Who says they dont . Coach mcadoo you know, at td ameritrade, we offer free access to coaches and a full education curriculum just to help you improve your skills. Boom thats lesson one. Education to take your trading to the next level. Only with td ameritrade. If i could buy long term puts, if i could buy a fiveyear put on every one of the cryptocurrencies, i would be glad to do it. But i would never short a dimes worth. Warren buffetts cryptic crypto warning if it rings true, how can you protect your profits our crypto baller is back to tell us how to protect your bitcoin. There are some ways to do it. Warren, if you happen to buy some bitcoin, put down your cherry coke and listen to this were talking about a hedging strategy its very important to identify that key level you dont want to be hedging 100 of the time you want to hedge when i think theres going to be an event you identify that key event, your trigger with the cboe contracts, theres one bitcoin per contract if i buy or sell one cboe contract, inthat means im protecting 1 bc worth of my portfolio. Then you take off 20 . That sounds like a lot we had 1350 on february futures, the low of today to me thats that key level. That really comes in at support right there. So if it breaks 1350, i want to go with the momentum and protect my position. So for every one bitcoin i own, im going to sell one cboe contract and if we drop down 20 , youre talking about 10,000 roughly or so so you have profits on that whole thing. Now, on this, youre not going to put a stop or protect a stop in, because remember, youre long bitcoin already this is to protect that position so is it just for bitcoin only or are there other ones you can use this strategy for . So most of these currencies do trade with a high correlation to bitcoin, bitcoin is still the big daddy of the place sometimes that correlation breaks but in general, if you have lets say 100,000 crypto portfolio, for somebody like guy its probably 100 million crypto portfolio, you can still use this it wont be a perfect hedge, but it will help the ultimate question, theres a lot of liquidity coming into the market, a lot of sophistication why just bitcoin, why not four or five or major instruments when is it happening you know what, i think its going to happen very, very soon. We already have the bitcoin futures. It would not surprise me to see Ethereum Futures coming next i think we should have it. We need the sophistication these are hedging tools, derisking tools, volatility dampening tools. It should be part of the ecosystem. Class is adjourned. Ahead, Patrick Doyle sits down with cnbcs jim cramer, montmes ago, his first interview thinsi announcing his departure with good results. Ospital we call that the golden hour. Evaluating patients remotely is where i think we have a potential to make a difference. barry murrey we would save a lot of lives if we could bring the doctor to the patient. Verizon is racing to build the first and most powerful 5g network that will enable things like precision robotic surgery from thousands of miles away. As we get faster wireless connections, itll be possible to be able to operate on a patient in a way that was just not possible before. When i move my hand, the robot on the other side will mimic the movement, with almost no delay. Who knew a scalpel could work thousands of miles away . You or joints. Something for your heart. But do you take something for your brain. With an ingredient originally found in jellyfish, prevagen is the number one selling brainhealth supplement in drug stores nationwide. Prevagen. The name to remember. Welcome back to fast money. Weve got a cramer alert here. The ceo of dominos speaking to jim moments ago about stepping down from the Pizza Company after eight years at the helm. Im thinking about nothing about dominos until midnight on june 30th. Then my wife and i will take six months off to figure out what our next venture will be ill keep doing something, i have no idea what that will look like investors took in the announcements which happened last night during our show he meant a lot for the stock turning around he meant a ton. Hes a visionary for the industry we talked about this at other times, when we talk about dpz, we talk about their ability to begin to utilize technology and be able to consolidate an industry that needs to be consolidated theyre doing it and theyre growing globally of this theyre doing it at a valuation that probably is commensurate with the valuation. Remember, theres been a lot of volatility in the stock in the last few months. We traded it down to 165 before coming back to 200 now this stock is probably a hold with still some uncertainty. And this transition, as confident as i am that Patrick Doyle will engineer that, i think we need to hear more hes 54 years old, he says he wont retire hell take a trip first. But he could be on the list somewhere to be another ceo who can turn another company around, a consumer company, perhaps. Youre thinking about it. I dont know if there are ceos needed at chipotle, perhaps. I wonder if he has a noncompete he may. If you have a talent like this i wouldnt want him out there. I want to listen to the interview with jim cramer, that sounds interesting when he did those ads in 2010, our pizza is awful, that was awesome. Can you imagine a chipotle ad sure. You get two for five bucks and you survive the next day crisis management, he took it head on. Imagine if he did a cmg ad. I know youre afraid to walk in here because you might be worried about the reports of foodborne illnesses im here to clean it up, theres a new sheriff in town, his name is Patrick Doyle were a year away from that you have some of your star workers who could rise up the chain. Look at that. Whats troubling here, i dont see gloves no hairnet. My hair is thoroughly washed and i dont have any hair. Do not miss the full interview in just a few minutes on mad money. Upex falras. Nt,in tde duncan just protected his family with a 500,000 Life Insurance policy. How much do you think it cost him . 100 a month . 75 . 50 . 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For a convenient clean, try Swiffer Wetjet with a money back guarantee. Brand power. Helping you buy better. Final trade time i think brazils erj is one of the best companies in the world and is in play rates are moving too quickly, tbt is a hedge for that. Overstock Delta Airlines in earnings, sister see you back here tomorrow at 5 00. Mad money starts right now my mission is simple to make you money. Im here to level the Playing Field for all investors. Theres always a bull market somewhere, and i promise to help you find it. Mad money starts now hey, im cramer. Welcome to mad money. Welcome to cramerica other people want to make friends. Im just trying to make you some money. My job is not just to entertain but to educate and teach you put in perspective so call me at 1800743cnbc or tweet me jimcramer. Fear is the least rational emotion. Logically you cant be worried