High he thinks bitcoin is still headed spencer will be here to explain. Later, government intervention, the thing that sparked the blood booth, the kryptonite for crypto sheila bear will be here with a surprising call. Check out the dow, sinking triples digits after yesterdays huge rally the culprit, look no further than the bond market the tenyear yield entering critical area as it crossed above aty key little of 2. 6 founder says 263 is the line in this and where the rise in rates could accelerate quickly and take the market along with it. As we enter closer to the danger zone are the bonds the only thing that could enthis rally. Love that song. We have known each other a long time, 11 years a long time. For me to put the economist hat on, you know i mean its foolish for me even to play the game but i will say i could make an argument rising rates could be good for the market because the economies are growing, global economies are growing. It should be bullish for the equity market. However, be careful what you wish for in terms of the fed its hard to keep the jeanne in the bottle a little inflation is good a lot of inflation, not so good. Thats not something you can jam back in. I do think the fed is behind the curve. I think we are going to get inflation in all the wrong places that could derail this thing in the back half of 18. Right now i am not all that concerned about rates going higher. Deflation in the dollar is something thats good for stocks there are a lot of u. S. Multinationals today was a good example where the s p outperformed relatively to the russel 2 houn which was down 65 basis points when you think about it, rising rates is worse for them. When you think of those benefiting from low rates they have financed a lot of doesnt when you talk about ibm with two thirds of their sales overseas this is not a bad deal for him. I agree with what guy is saying i think partly because he is agreeing with he moo rising rates is okay 2. 63 is okay so far. What we dont want is an inflationary spike that cause the fed to get off what we think is aplan a smooth plan you know, several raises and the Balance Sheet shrinking and have to do something much more dramatic even if we get to the same place but get there like that, thats more dangerous for the market. My single fly not ointment for this market. We were talking about the impact of the tax cuts you were on board. Still are not kicked off of that. Do you think inflation is an illusion. The philosophy of what we are the velocity is the theme. I agree. If it is a slow steady methodical its like volatili volatility, we have been around nine, 12 for a time. Now we are above 12. But it is a steady plodding along independent could of a thinle if we see spikes, thats where things get more dicey. If we suddenly see the ten year make a spike, we will be worried. But i still believe in whats going on in terms of the tax reforms, in the possibility of infrastructure i believe as long as the political side of whats going on in the stock market is at ease we are in a likely spot. The likelihood of a fed mistake, guy, you said was high before. Pretty high. Is it even more now they are potentially some of the smartest people on the planet right . Its just this is eight or nine years down this road to thread the needle is extraordinarily difficult to do. Not only are they threading it here in united states. Now they have to deal with economies overseas one of the things thats happened here, our Federal Reserve has empowered other Central Banks to act in kind to think this is going to be pulled off on a global level is absolutely a concern. Given the fact we have a new fed chair coming in in the next couple of months i think the likelihood of them screwing up is not great they have been transparent people are expecting three hikes this year. Maybe we get a gradual move in the ten year back to 3 in the gradual fashion that you are talking about. Thats where we were in 2015 on that taper tantrum at this point i think you should have confidence that the fed will not screw this up they are not going to have political pressure to raise rates particularly fast. And the only issue would be is if we saw the stock market lack like boeing, in general and it started to take off like in 1999 then you would worry they are way behind the 8 ball. I dont know what they would do. I dont know how quickly because you could cause shock. They have been transparent but we had Steve Liesman on the half time today and he was talking about three, maybe four hikes. Now thats interesting to me because that makes me feel like then the fed is being a little bit less transparent than they have been in the past. They were talking about three. We sudden ekick in a fourth is that something that starts to tip . My point is its also asset prices too, right . If you had a risque set melt up, then you have have to do something. Im worried about the commodity melt up. Inflation that isnt asset prices but labor pete mentioned velocity money. We are seeing bonuses. Some of that money, apple is not going to be spent. These deferred tax money so many of these bonuses coming up combination of labor look at oil. We see another oil spike, thats the cause of it not rising asset prices what do we do with our portfolios if we believe there is a risk from higher Interest Rates and or inflation, guy. You stay with material stocks they have been the big beneficiary over the last six to nine months. Tim see more has been on this. Free for the has gone from 12. 5 to 18. 5. I think those names still work u. S. Steel the Steel Industry has winds behind it. If you are concerned with things like karen just said you stay with materials. Alcoa is down in january, we have massive runs, people who are getting in front of the cyclical termts that were going to come possibly with tax reform, maybe infrastructure and when you have one bad quarter, talking about ibm, look what happens, they ran into their numbers. Same thing with Goldman Sachs. Its in a tough spot with earnings we will know more by the end of the week. What did you do today. The one thing i did, i added apple. I saw huge call buying in apple. I am a believer especially after the news last night, the 20,000 jobs, the 350 billion, everything they talked about in the press conference, it makes me think apple is going to be the first trillion dollar company. They were buying the 210 calls on apple day i bought it along with hymn them. And you. I own puts. I always own puts. I want to stay with what i have. Seems to be working. But i own them not for the volatility to reach 12 its higher. I wouldnt be selling those puts on this. 17, 19, Something Like that type of a spike in volatility . Yes, significantly higher. Still ahead, check out shares of ibm it was supposed to be a turn turned turn around. Jim cramer gives us his take. Just how wrong are wall street analysts. Elliot spitzer will explain how he is keeping the experts honest. Bitcoin making epic comebacks from its selloff one bitcoin investors will be here to explain why he says an even bigger rally is coming. Much for fast money, still much for fast money, still ahead. Airplane. Being rammed by a shopping cart. Sitting in gum. And walking into a glass door. But for everyone else, theres directv. For 1 rated Customer Satisfaction over cable, switch to directv and get a 200 reward card. Call 1800directv. Welcome back to fast money. Lets look at ibm. Sinking after hours despite pete beating on the top and bottom lines. First revenue beat this 24 quarters coming into its report it had all the makings of a turn around story. After 22 quarters of revenue declines, a tough 2017, falling 20 fundraise from its all time high and the price action after hours should you stay away from big blue or is there still a turn around in sight pete . I think there is a turn around the stock is up 10 this year. There is pullback. Ebb that it makes sense. Goldman sachs hit new highs yesterday and pulled back. I think its in front of itself. I like the company i like that they have made and shown finally a turn we have been waiting five and a half years we finally get a turn of something and the revenue is finally beat. Arent there a lot of questions . I think the Conference Call is key, especially when it comes to for instance knowing the tax rate a lot of analysts think its going to be higher. They figured that out last week it was strategic 45 of their sales faster growing cloud, a. I. , these services to me, if you get 17 growth, if he can guide to that for the first half of the year i think thats enough for people to take a shot here. Im talking my buck. Im a little long but i would be surprised if this stock is 161. 5 tomorrow midday. When you see fast growing businesses and what hewlett did years ago, split that company up, i would suspect thats on tap for this company not in the distant future the ceo of this company is probably on the hot seat to me, that could be something that happens in 2018. For more, jim cramer shock with ibms Mark Schroeder earlier. Heres what he told jim about the quarter. First half to second half, which we described back in july, played out as we said. And that puts us on a good base. What you just heard was we guided toward growing revenue and stable margins when we think about the transformation of ibm i would say yes now that the portfolio is transformed and we have got momentum going into 2018. Lets bring in the one and only jim cramer of mad money fame. How are you good. Im trying to understand how the stock is down after hours . It was up six points in the quarter. Positive hype. Analysts weapon from a sell to a buy at bar close people feel that must mean a gigantic upside surprise thats not whats going to occur. I agree with pete and dan, it is a unique buying tune the 2018 guidance will be good the 2019 situation is looking good lets take out the tax situation and concentrate on the fact that the orders for the mainframe are not done they are just beginning. I like the stock with a 3. 7 yield. I think this is one of the more attractive companies the cash flow has gone up gigantically it will be used to buy back stock. Boosted the dividend doubled in the last five years i think this is one of the lower risk situations at price right now. Jim, its karen with the p e at 12, sounds low where do you think it should be . It got slammed down because Warren Buffett got something i thought was highly unusual for him. He toll becky, i wash my hands of it. And he crushed the stock i think its realistic that it could sell at 13. 5, 14 times earnings you could see the stock where bar close is using a 190 price target i think americans have been waiting for the company to reinvent itself. Its reinventing jenny did a good job martin is terrific he might inherit the top slot because thats where jenny was before she got the ceo job martin is a straight shooter Conference Call. A lot of good things being said. 161, three down and ten up those are hard to find. Jim, we want to play would you rather favorite game here on the fast money desk. We give you the choice of two dow performers, the best ones this year. Ibm or boeing. Oh, boy i have been saying that boeing is going to get to 400. But i thought it was going to take 18 months looks like its going to be there ahead of that. Boeings that best boeing trades in big spurts, twoyear spurts i think boeing is still remarkable you have an opportunity here im sure there is a lot of guys with price targets at the 320, 330 level. Did you give me a choice, jim. No. I didnt think so. Im taking woeg. Wow. Imits one of my absolute favorite stocks in the world great the see you jim jim kramer and mad money, the full interview with Martin Schroeder tonight at 6 00 p. M. Eastern time dont miss that. Guy adami, would you concur with mr. Cramer when it comes to the would you rather game . I think boeing will continue to rally january 31st is when they report they have got knock it out of the park in my opinion to continue this trajectory we have seen right here, right now, ibm quickly, one of the reasons i think ibm got hit. Moirns should have improved this quarter given their businessics in they were down thats disappointing but to answer your question, ibm. Come out in the Conference Call and talk a lot about block chain, and that jv with maersk i would be a i approximator of ibm boeing has pluses as well. But ibm valuation wise has more upside i think from here on out. Still ahead, American Express thinking afterhours suspending buy backs after taking a tax hit. We will bring you the latest from the call. Im melissa lee. You are watching cnbc, first in business worldwide shot lieu the heart only wreath analysts were so accurate but they arent. And you wont believe just how off the mark they have been. Well explain. Plus hey, im back thats what bitcoin bulls are hoping for the suddenly surging cryptocurrency and a top bitcoin investor says theres something about the bounce thats central signaling more gains the come. He will be here to explain why he will be here to explain why when fast money returns. Good then its time for power e trade the platform, price and service that gives you the edge you need. Alright one quick game of rock, paper, scissors. 1, 2, 3, go. E trade. The original place to invest online. We to fast money. The crypto space bouncing back after bitcoin suffered its worst two day stretch in three days. Melissa has more. Reporter its definitely been a volatile week after losing of a half of its value, bitcoin is rebounding and other cryptocurrencies are following suit bitcoin is now 25 off of its lows ethereum is 45 off of its lows. Ripple andlight coyne up 48 off lows this week a notable comeback we have seen big draw downs the bitcoin before there have been six drops since january of 2017. They have proved to be buying opportunity. The average return after two weeks is 24 , and 81 a month later according to genesis trading. Some of the biggest bitcoin bulls are calling for a retest of old highs and beyond. Saying bitcoin will hit 25,000 at the end of the year calling the selloff the biggest buying opportunity of 2018 another analyst is reducing his 2018 sight to 20,000 but foreign to note that the regulation concerns that initially sent cryptocurrencies lower have not gone away and experts say will likely persist. Melissa, back to you. Thanks seema. For more on the bitcoin comeback and all things bitcoin, lets bring in spencer great the see you again. Thanks for having me. You think what we saw in terms of the selloff, thats a good thing because it shakes out weak hands yeah, listen, i wish i could say we are out of the woods right now, but im not sure thats the case. Bitcoin in 2014 when it fell from 1,000 down to the 300s we saw bumps along the way. That said i would like the hold bitcoin in 2018. But if we think about the rest of the market there are still a lot of coins overpriced. We are seeing many coins that are worth uns of millions and havent delivered any product. You are talking about the coins that once traded for less than a dollar. You think there are uneducated investors grabbing the cheapest coins out there . Absolutely. Thats one of the number one pieces of etched for why this market is not terribly sophisticated at the moment. When you see a strong correlation where people are looking for coins that are worth less than a there are a it doesnt make sense and it is not a sign of a discerning market. Thats an interesting point i was looking at the chart all of those peak to trough declines from 13, 14, 15, in your mind are they comparable to what we saw . Because back then they were true believers and so the dips were buyable. Now it is a bigger market cap. At this point there is a lot of speculators versus what was going on a few years ago does that factor into the thought process . I would disagree. I think that now in 2018 we have a lot of people that recognize that bitcoin is not going away but we have to go back and if we rewind to 2014 when it came off of its highs of 1,000 and declined back to 300 we had the bust of the silk road people thought that was the bust of bitcoin even for believers today out in the marketplace everyone recognizes bitcoin is not going away there is an increasing la jolla and a growing segment of people that sees it as a buying opportunity. I think thats the case with bitcoin. Not going away. But you say there is competition. I read in the notes from the producer, that you think bitcoin and ethereum are brother and sister, can coexist but bitcoin has competition when it comes to z cash and mow narrow . Z cashes and monerost of the world they dont differentiate one 20 from another 20 bill at the grocery store. Thats a feature of z cash and monero, they are traded equally. Boip has its unique history and own set of owners. That could be a liability or an asset over time. Regulators want to impose rules around them. I think we need to think about privacy coins. Its not about lets conceal everything but its selective lets not expose everything to everyone in the world. Who wants to open up their bank account for everybody in the world to see sure if your significant other or a regulator or somebody wants to see it you might be okay with selectively disclosing that information. I think thats the holy grail of privacy coins. Spencer, great seeing you again, spencer bogart, block chain. He made interesting calls, especially about some of the smaller coins out there. Its interesting. The fact is now people are believers in a way they are committing capital before it was a smaller thing. I have been poking around, buying a little bit, bitcoin cash, and ethereum, to me they seem like the ones that kind of have some room to go here. Bitcoin, you know, this one steams like there are some technical issues here and people want to build on the ones where they think its cheaper and faster, that sort of thing. Bitcoin cash, to what dans point is i think is more interesting. This discrepancy seems to be still here for a while. Skrep me in price in price between bitcoin cash and bitcoin, or the other way, i guess. Yeah. But i think that should close. And then some of the icss, the wild wes of ridiculousness for sure. Still ahead we are all over the bitcoin boom here on fast money. And up next, sheila bear will tell us why the bitcoin crackdowns have gone too far. Plus a handful of stocks that analysts have been missing the mark on over the last year how reliable are the wall Street Research reports elliot spitzer, former new york governor and analyst tracking firm will be here to eight in. Firm will be here to eight in. Much more foim evaluating patients remotely is where i think very busy night. 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 d 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 . But prevagen helps your brain with an ingredient originally discovered. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. The name to remember. Welcome back to fast money. As stocks continue their record run, wall street analysts have been missing the mark on some of the biggest names in the market. Bob is here the break it down. A target price is supposed to be a price that a stock should seek the attain. But analysts are at times slow to get on the band wagon, particularly on fast moving stocks take nvidia, in 2017 it was trading above the target of the analyst community. What is that about in total, the price target was raised four times. Its not just tech stocks. Boeing traded in line with the target price for most of 2017. Thats not right analysts got on the ball when they upped the targets from 197 to 250 in a couple of weeks the stock has had such a relentless climb since then that it traded up to the target price, now up to 300 in mid december and then they on upped the target again the price is 240 and the target price is 245. Essentially the same analysts arent invariably behind on everything in the case of amazon, the average analyst target price in 2017 was 10 to 15 higher than the stock price. Thats roughly the way it out to be that changed since amazon rocketed nearly 11 . The average rice of 1340 is close to amazons price, just below 13 hub but only after Piper Jaffray raised their price to 1400 last week if analysts are too slow to up targets for companies with upside momentum. They are also slow to adjust on declining targets. Today the price targets are still 20 above the price. Back to you. Bob, thank you. I want to take ge it did break a key level it was below 17 for the first time in many years, i think it was six years or so. And it seems seem like a lot of analysts, there is one analyst cowen and company in november which came out with a sum of the parts analysis of 11 to 15 a share. They were an outliar then we have all of these analysts who are sort of relooking at it, redoing the sum of the parts there was a change in terms of the news in the Insurance Business now everybody is saying its not worth trading here the industry absolutely got lazy but like many things there are great analysts and not so great analysts the cohen guys and gals did a great job on ge. They have been right look at what happened to the stock. We try to do this every night in some capacity, be analysts and we do it to varying degrees of skill. I will say one thing of the its not value added in my opinion when Goldman Sachs takes walmart from a neutral to a conviction buy list and raised their price target from 115 to 117 to me thats not what they should be doing. The only reason they are raising the price target is they made an adjustment hopefully they did some work and they raised their im estimates. Sorry so far wrong. Who is trading based on price target. You have to find theright analyst in every stock out there. And hubert for apple and ibm, and mahanay, i put him in netflix and amazon al ifr chen in retail. Everybody has their spot and you listen to the guys and gals who have been in the most right. Its also interesting to look at the analyst who is were wrong so you goet the other side of the story. Analysts seemingly missing the marks how much is wall Street Research really worth . If you are wondering, check out continue ranks, the ceo is here. He is joined by one of tip ranks earliest investors, the former governor of, no, elliot spitzer. Gentlemen, thank you for joining us shall i call you governor or elliot i will [ laughter ] ill call you elliot has anything gotten any better since your days cracking down on wall street . Better means many Different Things what we attacked when i was attorney general was intentionally misleading investors, analysts who had conflicts of interest and were intentionally saying buy when they knew the stock was bad. Much of that has disappeared because the conflicts that were structural disappeared what you are talking about is not intentionally misleading investors but some are good and some are bad as each of you said there are folks who you want to follow and others lagging behind the market and seeing last weeks data, extrapolating it forward what tip ranks does is examine how every analyst has performed over any metric time frame, up markets, down, ma, bye sector. Its designed to make the markets transparent for analysts. Have some of the changes that elliot put into place way back when created an environment now where there is no edge in wreath research and thats why we are seeing much more of a heard mentality and analysts cluster around a price tag or a rating because three dont get the inside information that they mite might have gotten in the by gone era i think that analysts provide more value than just a rating and a price target they are showing you a lot of interesting facts that you wouldnt otherwise be aware of but if you followed the average analyst over the last five years you would generate an average of 6 every year because the market was bullish to every the last eight or nine years. And so there is value. And there is also a lot of impact woe speak with bar close upgrading ibm. I havent looked into that but im sure the stock is going up in the aftermarket but nobody knows if the analyst is good but you have to check him out and see how he graded other stocks before. Does price target come into play we are looking at it from the perspective of the individual investor, we know they are responsive to what analysts are saying and what bloggers are recommending once we see a buy or sell rating we would open a virtual buy or sell position and buy or sell over time. We rank the analyst based on their success rate, did they generate a positive return and what is the average ruffin then we will incorporate them into a statistical equation that looks at the significantsy of the data the more information we have the more the analyst will be ranked higher or lower. When you bring an analyst on, if you put in the corner whether he has outperformed or underperformed the market obviously you wont get many analysts on here but the audience could see over the last five years this analyst has underperform or overperformed and you could use that. We dont have that yet. I dont know who is the most accurate but you mentioned mark mahoney who is in the top 25 of the last five years. Of all analysts, across sectors. And specifically in the tech sector the smaller companies, tier 2, tier 3 research firms, oppenheimer, rbc is actually pretty good. They are outperforming the big banks. Really. Yeah. Goldman sachs or morgan stanley. We daw Deutsche Bank over the last five years. Dont buy from the blue chip. Its like hiring a law firm you dont go to the biggest law firm you hire an individual you dont hire across the board. You look for an individual tip rachks allows you to find either the best analyst or insider in the legal sense, when insiders are buying or selling stock, there is a way to look at our website and say does this ceo lead the market, following the market, is selling when you know,ities is it a good way the make money all of those data categories are there. I want to switch gears, on cryptocurrency if the you were ag, what would be your first target. I dont understand block chain or cryptocurrency. What is your interest, though you must have thought to yourself, if i were in office again, this is area i would look into. Sure. And heres people didnt get this when i was a. J. I was close to a libertarian as long as there is honesty and transparency people want to buy something as long as there is full disclosure, thats fine, thats their risk i will look at do people understand what it is they own, what is behind it, how quickly it can disappear if the risk factors are disclosed then they can do what they want. Do i understand what bitcoin is . No do i own it . No. Do you feel like if you wanted to get it that you would understand the risks that there is enough information out there about the cryptocurrencies or the icos. I dont know. When i see val tilt thats this extreme i know when you can go up or down 40 that quickly there is something going on that isnt tethered in my mind to intrinsic value. We are moving to a world where sovereignty means less and less and economics is not tethered to sovereignty. I have to say, would i buy it today. Do i wish i had bought it at the right time and sold before last week yes. But hindsight is not the way to do the market. American express announcing it will suspend its buy backs. The. Toer fdic chair says rather than ban bitcoin the gornntveme should be embracing it she will be here to explain why after this we recently had a heart attack. But we are not victims. We are survivors. We are survivors. We are survivors. And now we take brilinta. For people whove been hospitalized for a heart attack. We take brilinta with a baby aspirin. No more than one hundred milligrams. As it affects how well brilinta works. Brilinta helps keep platelets from sticking together and forming a clot. In a Clinical Study brilinta worked better than plavix®. Brilinta reduced the chance of another heart attack. Or dying from one. Dont stop taking brilinta without talking to your doctor,. Since stopping it too soon increases your risk of clots in your stent,. Heart attack, stroke, and even death. Brilinta may cause bruising or bleeding more easily,. Or serious, sometimes fatal bleeding. Dont take brilinta if you have bleeding, like stomach ulcers,. A history of bleeding in the brain, or severe liver problems. Slow heart rhythm has been reported. Tell your doctor about bleeding,. New or unexpected shortness of breath, any planned surgery, and all medicines you take. If you recently had a heart attack, ask your doctor about brilinta. My heart is worth brilinta. If you cant afford your medication, astrazeneca. May be able to help. Welcome back to fast money. American express out with earnings after the bell today. That stock moving lower in the afterhours session. Lets go to kate rogers. Thats right. American express reporting a Strong Quarter with top and bottom line beats today. Also announcing plans to suspend its Share Buy Back program they said it would suspend for the first half of 2018 in order to rebuild capital it triggered 2. 6 billion that reduced am exs capital ratios it led them to its first quarterly loss in years. The 200 billion number is an estimate American Express estimated its tax rate would come to 22 before discreet tax items adding it is a positive development for both the u. S. Economy and American Express the company said it would invest 200 million more towards Customer Growth initiatives in 2018 than it had originally anticipated and it made an incremental contribution toward employee Profit Sharing plans but they didnt include the amount this will also mark the last report under the current ceo as steve takes the helm in february the stock is down over 2 after this Conference Call karen the buyback stuff is nothing. It is a noncash charge. They will be back in the buy back business later in the year. I dont see that as a big deal what is more important is how much it costs now to get clients. A customer. Yes. Yes that is and there is repercussions for jp morgan andcity and others. That has been a real competitive area, especially with rewards programs. Yes. Everybody else is upping the ande and it seemed like American Express at least in the recent years had been cutting back on the partners it includes in its rewards program. Pete was just showing me his silver card. He doesnt have the plaque one thats made out of the special metal . It is a shield. You can control devices with it. I think the former ceo of the facebook board, ayou think how are they going to marketize mess i thinking i dont know, maybe there is a paypal or some sort of sinneree is there. 2014, hi 2014, high was 9a te thats the line in the sand where the stock needs to hold. In my opinion the reason why the stock is lower is a lot of things i think the guidance for 2018 was somewhat disappointing i think people were looking for a guidance raise you didnt get it. Then you look at American Express on valuation and say its not ridiculously expensive. I think it hold 95 and you buy it if it gets there. Netflix reporting monday implying big moves dan what do you see. The Options Market is implying a 7. 5 move in any direction. The stock is up almost 15 on the year closing near an alltime high today. In all, the stock moved 5. 5 offer the last four quarters in the long term, one day moves. When you look at the the five year chart you see it riddled with massive gaps. When it makes highs it oftentimes does it on earnings events this is the 14 move we are talking about. Stocks that have run into their earnings could run into some of that playing with option is expensive unless you are looking for a put protection on a long that you already have big gains on. Whaung of netflix a bull for a long time. Their International Growth continues to crush i will say this. Im not saying apple is going to buy netflix. Maybe they should have a long time ago but with all this money coming back thats being repatriated. All of a sudden netflix might be more in play than we think. Option action is on tomorrow. 5 30 p. M. Eastern time. Coming up, sheila bear will be here in a few minutes to explain why a bitcoin ban is a bad idea much more fast money after much more fast money after this make sense of it all. Well, victor, do you have something for him . Check this out. Td ameritrade aggregates thousands of earnings estimates into a single data point. That way you can keep your eyes on the big picture. Huh. Feel better . Much better. Yeah, me too. Wow, you really did a number on this thing. Sorry about that. Thats alright. I got a box of em. Thousands of opinions. One estimate. The earnings tool from td ameritrade. Welcome back to fast money. Is a crypto crackdown coming the chart doesnt lie. Bitcoins bag week began when regulators around the world started proposing a ban on the cryptocurrency government spishls officials from about a dozen countries have a ban, blaning a ban or planning on proposing a ban or ban trading on the digital cryptocurrency should there be a ban, sheila bair says no she writes former fdic share kheela bear joins us she is a pox owes board member, a block chain that operates a Bitcoin Exchange regulated by the new York Department of Financial Services good to see you. Obviously you have skin in the game here. I dont own bitcoin, no and the company is primarily developing Block Chain Technology i wanted to disclose that in writing the op ed. I dont own it i dont have interest. But i think its something that regulators should not ban. But i do think regulations would be good, especially on antimoney laundering laws how you far you this regulate loors go in terms of regulating bitcoin . I think the department of treasu treasu Treasury Bureau that deals with this has regulated them as money transmitters so there is some oversight already. I think manipulation is also an area that we need to take a closer look at i actually think that the cme and cboe launched futures actually could help because that will give them into a window into getting more reporting from the underlying Bitcoin Exchanges that are feeding price into their futures products that will give the cfgc a window and make sure there is no manipulation going on we dont ban assets. Where does that stop i have some on my lists. Cdo squared, we could ban those. It would be fine with me synthetic driven tiffs there are a lot of products that in a lot of peoples minds that have questionable value. But traditionally in the u. S. We have let markets price values and determine the values but make sure there is no manipulation, no fraud, clear disclosures and people make informed decisions on pricing the asset. You are familiar with leverage and how it can work against you. When we see the futures, they have some its been so volatile they may want to up the margin requirement. They may not want to permit leverage when you look at it from a regulatory perspective the i think thing you should look into is how the leverage is feeding investment demand. I think for the underlying exchanges want to look at that surely, i dont think banks are making loans in speculative bets and Digital Currencies those are the kinds of discrete issues i think regulators absolutely should be looking at at but banning is not something that should be down. No ban, but the march toward regulation is certainly where its headed. Yes, thats fine. Are you comfortable enough to know that prices are not being manipulated. Yeah. The drive towards futures invites bigger players who might have the ability to manipulate the underlying price. Right there are a lot of different venues for doing this. We are subject to oversight with the dfs. But the dfs has been in the lead on this, its been controversial with some but i think they have done a pretty good job i think thats an area, providing at least regulated forms so that investors who want to go to a regulated ven view to trade bitcoin should have that opportunity. Whether you want to require it, i dont know thats probably something to think about. But its i think i worry that people are getting into this because they are seeing, you know the skyrocketing returns and the tremendous increase in value without really understanding what it is and thats another reason i wrote the op ed because there is information between bitcoin and Block Chain Technology, naturally the ledger, the way that you trace ownership of bitcoin. That can be applied to a lot of primary assets thats the basis of this board that i sit on is to try to develop those technologies but those are two Different Things bitcoin doesnt give you access to block chain people need to understand those differences too. Sheila, bear, former fdic chair. What did you do in crypto land today. I thought the sentiment brought down a lot of people i bought ethereum like i said before and i bought bitcoin cash adding on the way down. Im add waiting for a bounceback to the midpoint range that we had seen in the last month. Up next, final trades hold together. A little to the left. 1, 2, 3, push easy easy easy horn honking alright alright weve all got places to go weve all got places to go Washington Crossing the delaware turnpike . Surprising. Whats not surprising . How much money sean saved by switching to geico. Big man with a horn. Fifteen minutes could save you fifteen percent or more. But prevagen helps your brain with an ingredient originally discovered. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. The name to remember. Final trade time petey. Did we have the greatest guests starting with jim cramer. City its going higher. Going towards 90. Tbt, i dont know that tomorrow is the day to buy it. But i do think inflation is coming this is a good way to play it. A hedge against the market tbt. 45 minutes ago did you hear jim cramer break down the ibm quarter like that. Bang, bang, bang is stock is up three bucks since he was on. I think it is a buy. You are going to see it back up at 170. What do you think. We should have jc on more often. I invite him. He is welcome on at any time. He is not great at would you rather. He doesnt play by the rules. But he finally half of us dont like would you rather power pitch thanks for. 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 my job, not just to entertain you but to educate and teach you. So call me 1800743cnbc or tweet me jimcramer nasdaq, we k