Or everything is falling apart. The house of pain the value, of course, is somewhere in the middle. Today we took a step in the right direction. The market was, yes, mixed dow only gaining 100 points, s p add 2. 5 , nasdaq declining. 9 some stocks went up, others went down rather than the whole market marching in unison out the window however, most of the stocks that rallied were what i call slow down stocks, the ones that do well in recession. The foods, drugs, turbo charge, secular growth stories that can transcend the growth cycle which are very few thats a start but its hard to outrun the bond bears, arent they arent they hard people who look at plummeting treasury yields and decide eat economy is obviously headed off a cliff. Oh, they blame the trade war with china or the fed reserves unwillingness to signal theyll take action to prevent as serious slow down. Who can blame them i lost assurance from fed chief j. Powell that hes willing to do something about it, that he wants to bust it i would love that. So would you we would all welcome it. If he could give us conjecture to explain why trerk risk arial rallying in the same levels. But if powell wont do it, i will let me give you a hilarious tutorial about currencies and bonds. If you can believe there is anything fun by either of those things so you can understand why money is flying here how easy it is to fire from overseas, because its gotten such a snap. All right. Lets go back, to me with hair with my Old Hedge Fund lets go back to august of 1991. All right. At that point i was searching for some good ideas. I heard about an opportunity to buy dutch bonds, the netherlands, which were offering much better rates than you could get in the United States very similar to whats happening the other way now, right much better rates in the United States to buy these dutch bonds i had to buy some of their old currency called the gilder i had to clear that trade. Then i could actually go into the market and buy the bonds themselves through a broker. What could go wrong in what could go wrong id own the currency then id own the bonds, not the currency and pick up nice yields better than i would get from u. S. Treasuries make that cash, get a little extra. Sounded good to me the trader i went to said it would take awhile to buy those gil derz, 20 million worth and move it to bonds i was trading out of mize Country House in bucks county. My dad was coming in and we were going out for a bite to eat, so the trade had to be done in lick ety split. You cant go out and buy 20 million worth of gilders give me a shot here. Pop said we should go to burger king i agree, back then i had a more cavalier attitude to physical fitness to put it diplomatically we debated fries versus mcdonalds we considered the cleanliness. Pretty good experience frankly at least i thought when we got back to the house, i called the trader expecting a report on my 20 million worth of dutch bonds turns out i didnt have it my way. Not at all turns out while we were woofing down those all beef patties, there was a coup in the soviet union. L lunch, coup. Hard line seize it had, it was plummeting, it was diving. They were getting crushed. Sell, sell, sell. The gilder. The house of pain down more than 2 thats huge for a currency just like that. Remember, the time it took to get a burger not only that, bonds shot up, it happened so quickly that that moron trader hadnt even been able to buy the bonds. I was stuck with the gilder. That special order cost me 400,000 it was supposed to be risk free. Supposed to be a gimme instead it crushed me. I learned my lesson. Dont go buying foreign currencies in foreign bonds because you can lose your shirt. That special order really upset me it ended up failing, soviet union collapsed. I took the loss. So what the heck does that have to do with whats going on right now . Well, listen up. These days if you lived overseas and you wanted to do that trade, you know what, you buy u. S. Dollars and u. S. Treasuries because thats whats giving you that better yield. Of course unlike back then you can do it almost instantaneously as pushing a button. Its easier. Thats whats happening right now. The investors in the rest of the world are doing the easy way, swapping out of the ddebased euro and have it their way in our market tens of billions of euros, rubles, yen, whatever. Theyre being translated into dollars and buying anything for that yield for me its a gimme. Its a gimme because why would you own government bonds in a weak currency with negative Interest Rates when you can buy our own government bonds in a strong currency positive Interest Rate . Its almost too easy to buy our bonds. Fabulous bargain for them. Even right here tomorrow will be a barn began theyll be a bargain monday, tuesday, wednesday until they get to zero. Then it wont be a bargain when it plummets like this its not a sign from overseas fear of going into a recession weve heard that before. President trump is arguing we have an amazingly strong economy. Employment is still robust simultaneously he wants the fed to cut rates we have an economy thats not strong enough. Obviously the president has an aversion to admitting to anything might be be wrong with the economy even if that would help his case with the fed the consumer would have to cover some of these tariffs. Clarity. Which is it, a boom or bust . You know what, i think thats an entirely false dichotomy the truth is were muddling along. The overseas markets are definitely weakening we know that because Chuck Robbins c. E. O. Of cisco told us this morning they saw cracks in the economy. But walmart the biggest retailer in america told us that business is strong and the consumer is very healthy house of pleasure trump stock the problem is the review, macys told a woeful story, truly disspiriting i think walmart is the better tell a huge versus macys every day seems to be a new scare. Today a financial researcher working at the b. S. Of a short seller no less took on general electrics accounting. Claiming that ges headed for bankruptcy this is the same man who also correctly spotted Bernie Madoff was a fraud before his hedge fund blew up he has gravitas. He says ge lied about the exposure to the hard to value longterm care contracts c. E. O. Larry just bought a ton of stocks. Healy disagreed, but the stock got hammered anyway. Anyone with an ounce of credibility claims an american committed fraud, thats going to frighten people. The stock was down the mostly in 11 years, single day i have frequently criticized ge for the way they accounted for longterm care policies. Im confident they are taking aggressive steps to be more transparent and reserve enough money to cover the cost. However, as i have told ge management many times and told you, with longterm care policies, you can never reserve too much which is why the criticism resonated, it always will thats why the stock went down 11 . He is accusing the guy of market manipulation can you blame him . Can you blame him . Unfortunately this issue isnt going to go away any time soon the false dichotomy isnt either which is why stocks that do well in recession are rallying. Kimberly clark is up 25 straight points techs and ipd strilz are getting hit, too much exposure to the Global Economy bottom line, as long as they keep plummeting investors will remain unsure of themselves. Today they found stocks to buy along with bonds its just theyre the wrong stocks, the recession stocks, not the kind of leaders we want to get behind. Zack in florida, zack. Caller how are you doing tonight . I saw another 250,000 shares of ge today. Whats going on is this caller i want to give a shout ought to my brother. We all love and watch your show. Thank you, the bros caller yeah, man my question is for caterpillar yeah. Caller the stock is down from a 52week high of 159 do you agrees that it is under valued yes, i do, but you know what, i got egg all over my naacp on that i got like, you know, holland days sauce on my face. I bought it for the Charitable Trust. I play with an open hand and brag about the winners if i could hit myself over the head with a hammer because of kalt pillar i would. The stock is cheap, but i think its going lower i never sit down cat made me sit down lets talk to dustin in virginia dusty. Caller hi, jim, booyah, thank you for taking my call no brob caller bst technology, they beat projections last quarter but lowered future guidance. Is this a buy or sell, hold . Dont you buy that stock. Dont you dare that was one of the worst quarters ive seen i dont even i dont know, management wants to come on and explain it, in the end id say thats a horrible quarter. Why dont we go swimming in the love canal and pick up dxc, okay am i clear that was a bad quarter i dont mean any insult. Theyre all really nice. Brad in tennessee. Brad caller hey, jim, how are you doing . Good afternoon im doing good. Im doing good i was actually doing well, my mother would say whats up . Caller this is true. Hey, quick question. Im 56 looking to diversify my stock portfolio and hopefully retire in nine years okeydokey caller i own baxter stock and im looking to liquidate that stock and purchase till ray. What, youre going to sell baxter to buy till ray caller i dont know. Thats what i was considering. No, youre not. Youre not going to do that. No youre going to buy second rate cannabis stock and sell a first rate medical stock not in my house. Come on. Hey, chief, listen, we like quality. If youre going to sell baxter you can buy some merck but till ray hey, lets buy some till ray surely in times of uncertainty, but today the market took a step in the right direction i like those callers i try not to be too glib after a rough few days, better to opine on the health of the overall economy. The c. E. O. Joins me tonight, do not miss the c. E. O. Of Waste Management no trash talk, though. When someone is talking about a potential recession, where to put your money if the whole thing goes curfooey. Searching for positive stories, you name this, and this, im eyeing till ray. Just kidding im a amm health care. So stay with cramer. Announcer dont miss a second of mad money. Follow at jim cramer on twitter. Have a question . Tweet cramer, mad tweets. Send jim an email to madmoney cnbc. Com. Or give us a call at 1800743cnbc miss something head to madmoney. Cnbc. Com. Devices are like doorways that could allow hackers into your home. And like all doors, theyre safer when locked. Thats why you need xfinity xfi. With the xfi gateway, devices connected to your homes wifi are protected. Which helps keep people outside from accessing your passwords, credit cards and cameras. And people inside from accidentally visiting sites that arent secure. And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. In a volatile market, is one mans trash a stock market treasure the angst about how plummeting long term Interest Rates, yield curve immediate were headed for a recession at the end of the day talk about a topdown perspective the macro data, not doing the homework you know me i prefer bottoms up approach listening to Great Companies that might know something and compiling a mosaic to get a sense of how were really doing, and few companies can give you a better read on the economy than the best of the best in its industry, Waste Management its the largest Waste Disposal company in north america you know what creates lots of garbage . Commerce, construction guess what, Waste Management stock is up 30 for the year the company just reported a Strong Quarter a few weeks ago which is not something youd expect if were bound to as recession. Do not take it for me. Take it from jim fish, c. E. O. And president of Waste Management mr. Fish, welcome back to mad money. Thanks, jim how are you have a seat. Good to see you. I read this, i followed your company for 35 years 7 organic Revenue Growth in collection disposal business that is extraordinary. How are you doing it well, i mean, look, you just said it. The economy, you know, theres all kinds of discussion today, yesterday of course, and our business still seems to be humming along. Its a good indicator of the economy overall because we Service Every single segment of the economy. But, yeah, i mean Revenue Growth has been a real surprising, you know, positive for us. The top line is terrific. Now, there was a discussion on your call about there were lagging indicators if you do 7 maybe whats coming next is bad. But then you refuted that by saying, were not leading or lagging. Were just in business there are pieces of our business that are leading. That is important there are cycles, but there are pieces that are leading indicators commercial business which is a proxy for business is strong obviously construction demolition, you see cranes everywhere and that is reflected in i think 13 year over year increase in commercial or cmd. Our special waste business, the event component of that is companies tend to hold off when they see a recession coming and they did not hold off. They didnot, thats important. There was one part of your Conference Call that i had never thought of, but because of i think its climate change, but whatever, there are more disasters than ive seen sadly, that is actually an important business for you well, it is its hard to predict obviously right but we were up partially because of the fires, which were tragic i was up in paradise and looked at it. If w it was absolutely terrible we helped clean that up. Last year was the hurricanes in houston, harvey and florida. Every year there seems to be something, youre right. It seems like theres more of these than there used to be. Right we have so many locations around north america we tend to be able to help wherever we are. A lot of people just picture you as landfills and trucks. But you are using technology in a remarkable way to help the bottom line. I think its exciting stuff. Were spending 100 million this year on technology, upgrading our Customer Facing Technology its not a secret everybody wants to use a mobile device right to contact their companies that they do business with so were really upgrading that our data and analytics, i spent time yesterday with some of our folks looking at data and analytics on how we evaluate our routes, how theyre routed dynamically, how we can check and see how our drivers are doing. So were really upgrading our technology across the board as well are there enough people to do that kind of data work for you its hard. Its a competitive market for sure, but were able to hire who we want to hire and thats a good sign. That is a good sign now, there are some terrific things youre putting out how youre uniquely positioned macro factors social trends, behavior shichlt i know we dont think of millennials and trash, but thats wrong youre ahead of the curve on this some think youre doing remarkable thats correct. Look, we hear all the time that millennials arent crazy about driving trucks theyre not crazy about operating heavy equipment. We have 2,500 heavy equipment operators. So were working with caterpillar. Were doing a pilot up in denver, colorado, where we remotely operate heavy equipment. Its about a mile and a half away it has the poe tings tential ton the job. Instead of having somebody operating on the face of the landfill theyre sitting in front of tvs and operating it remotely but you wouldnt need that if it werent for the fact that labor is in short supply versus the negatives who are saying were around the corner from recession. I hear obviously the Unemployment Rate is whatever, 50 year low. But were able to hire who we want to hire i cant speak to those companies that cant, but were able to get our drivers, our heavy equipment operators, our Customer Service reps. Were able to hire who we want to hire. I always like to ask you because i think our country is not good at it are we Getting Better at recycling . Are there anyplaces that are cities that arent rich enough to recycle where are we right now were starting to take were taking a real proactive approach to recycling. I will tell you recycle Commodity Prices are at 25year lows but what were doing is changing the model and were putting a new plant in chicago it takes out those things that we want as opposed to today where it a Conveyor Belt goes by and youre pulling off the things you dont want. Theyre dumping baby carriages and diapers. Theres a bunch of junk im not sure were Getting Better at producers of recyclables and trash. But Waste Management is going to change the way we sort that material and i think it really improves the quality does that help in a situation where china used to be a big buyer and now i guess they disappeared, not coming back potentially though, youre right. We used to sell 30 of our stuff to them. Now we sell 2. But its because it has nothing to do with the trade wars, by the way it has everything to do with the quality of the material. If we improve the quality of the material maybe theyre a big customer again i never thought you could make these kinds of numbers knowing the recycle through china would drop off like that it does speak to the health of the rest of the business. Thats true by the way is 90 of it they made that acquisition, youre doing everything right. Thats why youre up 30 for the year you deserve to be. Thats the president and c. E. O. Of Waste Management. Were featuring companies that you want, Domestic Companies with great organic growth. Thats what you need and also of course really savvy management able to do and execute in a tough environment. Mad money is back after the break. I keep telling you that were reading too much into this darn inverted yield curve. When long term rates drop, it usually means the bond market is feeling apprehensive about the future and yesterdays ten year, twoyear inversion is why we view it as a harbinger of recession. I dont want to be glib. An inverted yield kwuv is a bad omen i just think you need a professional to interpret the omen the owe machinmen, kind of like movie. The bond market is behaving this way because investors want someplace safe to hide their assets in anticipation of a serious economic slow down thats true but its not the whole story. The slow down is mostly happening overseas and the worried investors are mostly from abroad. Theyre pouring into u. S. Treasuries because the Interest Rate is much higher than theirs. While nobody wants a worldwide slow down, there are vast swaths of our economy that can do just fine in that situation but for the moment, okay, lets say im wrong. And the bond market doom sayers are right. Lets say the u. S. Economy is about to hit the wall. Where the place to save your money . Some stocks go higher as we saw with staples which ones slow and steady defensive stocks that rallied this very morning, even into the chaos. Stocks of companies that dont need a healthy economy to beat the earnings estimates stocks you can confidently buy on the way down. If the bears are right, these names are ultimately going higher, not lower as they did in the spring of 2000 which was a terrible market. Take consumer package foods. Think food, think beverage, health care. And ive got a new one, one i need you to think about. Tonight i want to introduce you to a relatively recent spinoff in the Health Care Space thats begging to be bought because its very much fits this bill that im talking about you will know it for some of you its a household name who have bad eyes like me im talking about alcon, alc the eye care business that used to belong to novartis, another great company. If any of you wear contact lens us take mine out its hard to do when you do it in front of a mirror they make everything from Contact Solutions to treatment for glaucoma, cataracts, retinal disease, dry eye and even eyerelated Surgical Equipment all told, eye care is a 24 billion market and its growing by leaps and bounds. Boomers. Yet regardless of whats happening in the broader economy, the eye care business is strong. This is a sector of the growth story with several different drivers. First and most important you have the aging population. Over the next 30 years, the number of people over the age of 60 is expected to tumble the older you get the more likely you are to have vision problems more and more people are becoming nearsighted because they spent all day staring at their phones and tablets and computer screens not me well, okay, maybe only when im awake. Third, if you want the best eye care, you need to pay for it youre not going to buy contact lenses if you dont have disposable income. Over the next ten to 15 years, Something Like 1. 5 billion people will join the global middle class thats 1. 5 billion people who can afford contact lens. Fourth, Companies Like alcon keep innovating coming up with Better Solutions for eye problems which creates new demand on its own. Put it together you have the long term theme that will keep working even in a major slow down when it comes to eye care devices, alcon is number one in surgical space, just behind jnj. When you want to select a stock, you want guys who are at the top of the game. Theres a lot to like here why did novartis spinoff alcon as an independent company in april . Simple novartis c. E. O. Who we had on the show and i think is dine matt, i should call him dr. Vas, wants to turn his business into a pure play prescription company. Hes smart if you havent seen the interview, go to the archives. Hes been selling off anything with over the counter exposure buying Smaller Companies to bulk out the drug pipeline which is extraordinary. Alcon may be a high quality enterprise but it doesnt fit with the vision. It has too much exposure to medical devices and over the counter devices. Things i love, but vas has different plans. As i pointed out many times, this is why break ups can be so lucrative. Alcon didnt fit in with novartis which is a fabulous company in its own right it can devote itself to becoming the best independent Eye Care Company it can be. Investing in growth, cutting unnecessary expenses, and making stock a more attractive investment by being laser focus. Lets talk about the financials. When alcon gave the First QuarterTrading Update in may, they posted solid numbers. Even if the absolute numbers were flat because of i cant say, guess what, 4x change, head winds, basically gave wall street what they expected although the stock pulled back a bit on the news. Alyon reports again in a week so it is worth picking up right here i have to say yes, in the terrifying tape. Look, you can wait to see the quarter so pull the trigger. Let me tell you how i see it the analysts who cover alcon repeatedly stressed the stock is expensive and held up well in a difficult environment which you expect its 59 bucks, down 5 bucks from earlier in the year. Selling for 28 times next years earnings, 24 times 20, 21 earnings thats a premium to other players in the eye care space. Jnj sells for 14 times the extra numbers. Jnj is not a clear player. Thanks to lawsuits, the other big eye care plays like bausch and lomb, i dont think its a comparison that should be bought alcon may be pricey. It deserves the premium valuation. Management is forecasting single digit sales accelerating they believe they can get their operating margin, percentage of sales they keep before paying interest and taxes, up substantially 17 to 18 toe the low 20s, 20, 23. Thats why we love the spinoff stories. They can become leaner, meaner money making machines. Some of which they plan to turn to shareholders buy backs. I recommend putting on a small position before the quarter tomorrow morning heres the bottom line if i turnout to bewrong, you want to own alyon, slow and steady from novartis this is the kind of stock that can go higher even in a slow down, maybe especially in a slow down which is why shares are up this month even when the major averages are just getting pummelled. David in ohio. David. Caller yes, booyah to you. This is a firsttime caller. Booyah, david. Caller i had a question on rite aid with walgreens closing 200 stores and new c. E. O. And some other implements doctors offices. You need the solvent player in the industry, that would be cvs. I know walgreens is big, but i like cvs i own for the Charitable Trust i dont want you to tradein rite aid lets go to nick in texas. Nick caller jim, big texas booyah to ya. We like to have at least one texan per show caller thank you for all your help. Youre welcome. Caller taking shares at 16, i told 30 at 66. I kept 20. Its down about 24, 25 off its highs. I thought last time you spoke of it, you were still bullish on it yeah. Yeah, i am i think its good. Okay, look, its a little speculative, but its been a good stock congratulations. Look, youve done right. Youve taken your invested capital off the table. Youre playing with the houses money. You cant beat that even in this miserable tape listen, do of i do not think were headed for a recession alcon is not a bad place for your money its been a rough month, but im focusing on one positive story you may have missed. Dont miss my sitdown with a company that that should be better known can you talk yourself out of a recession . I dont think so but ill tell you who can coming right up in all your calls rapid fire in tonights edition of the lightning round. So stay with cramer. Stand up if you are First Generation College student. crowd cheering stand up if youre a mother. If you are actively deployed, a veteran, or youre in a military family, please stand. The world in which we live equally distributes talent, but it doesnt equally distribute opportunity, and paths are not always the same. Im so proud of you dad. [man] i will tell you this, Southern New Hampshire university can change the whole trajectory of your life. uplifting music phone ringing a phones offers big button,ecialized phones. And volumeenhanced phones. , get details on this state program. Call or visit rodney you know what my favorite part really is is when i greet students when they come in. Because i know what great things we have in store in the classroom. Marisa when they come into my classroom, theyre able to really get in touch with who they are. Rosanne my favorite part of teaching has always been this opportunity to make a difference. Ever every student has the right to quality education. No matter what neighborhood you live in. Rosanne we are cta. Ever we are cta. Marisa we are cta. Narrator because we know quality Public Schools make a better california for all of us. Narrator because we know quality Public Schools and accessoriesphones for your mobile phone. Like this device to increase volume on your cell phone. phone ringing get details on this state program call or visit if youre genuinely worried we could be headed into a recession, i cant blame you domestically oriented companies, noncyclical industries are in good shape because they just reported great quarters. Look at cramer fade mma health care which is a managed Service Provider that helps hospitals with staffing and Work Force Solutions. They can focus on treating you, treating patients. Thats exactly the kind of business i want to own in the slow down. Its been a longtime win i ear. The stock did get hit in february when management gave extremely conservative guidance. The stock has been getting screwed back they reported a fabulous quarter, 8 earnings beat. Higher than expected revenue, bullish forecast stock exploded higher on the news which it should have. Its been barely been dinged during the meltdown. Could this have more up side lets take a look with an old friend of the show, president and c. E. O. Of amm Health Care Services, bet a better sense of how the company is doing welcome back to mad money. Good to see you. Thank you so much for coming in. Well, its funny, you know, you gave that conservative guidance and that did spook people, but the reality is your business is pretty much on fire. Well, weve seen a tremendous increase in demand, in particular over the last couple of quarters. Its not surprising. We have really strong macro trends driving our business. You know, the aging population is in full swing right and that hits clinicians as well so we have a very tight labor market and its difficult for our clients to find the talent that they need, but thats where we come in we can really use our expertise, marketing technologies, and in th market its even tough for us, but we can find the great talent theyre looking for. What are the technologies we use a lot of marketing technologies over the web, and weve gone digital and have mobile apps and capabilities na we can reach out into the daily lives of our clinicians and make it really easy for them to interface with us. Another example is a great acquisition we made right after i saw you in january right wonderful cloudbased credentialling company that makes it very easy for physicians in this case to keep their credentials in one place, and then very easily share it with organizations that they want to work for so its a real win win for the physician, but then also certainly for health care organizations. Credentialling is a huge pain point, something that quite honestly needs to be innovated and were bringing it to the market explain it to me. Is it trying to make sure you have the right person or fraud well, it is making sure that the individual that youre hiring, whether it be on a contingent basis or permanent has the right credentials. So we do that in our own business in fact, were quite well known that its one of the things that sets amn apart we know our clients deal with this on a daily basis so we want to bring, again, Innovative Solutions and things that are going to help them streamline, even the everyday things they need to deliver great care you basically eliminated a whole slew of things they were doing that may not be as good as you are. We can certainly make sure that its going to be faster, more streamline, and more accurate so hopefully those technologies will be things that will help them do what they do best, and that is patient care there is a great debate going on in this country right now its kind of i call it a false dichotomy. There are people who think the economy is booming and there are people who think that were about to go into recession when i listen to you, i think its not only booming but there is Strong Demand for labor still. Its not like there is a big labor pool and everyone is saying, eh, i dont need those people its op skit youre absolutely right we have Strong Demand across all our businesses in nursing allied we mentioned on the call the demand is up 20 year over year its the highest its been in some of our businesses in many, many years and then even in our other Work Force Solutions areas like interim leadership and physician perm placement, our technology businesses, were seeing great demand but what were seeing more than anything is that our clients really want to work with a total Work Force Solution partner, like amn and weve really made a pretty tremendous transformation over the last decade from moving from a transactional relationship right, right. To much more of a strategic relationship with our clients. I remember it was kind of like a help service. Youre no longer a help service. But you are also an honest broker ive known you a long time i know how important Corporate Governance is for you. A very fine company, ge, is under attack because of some missed judgments the company made among other things for longterm care projections now, i know you dont do longterm care, its a terrible business for anybody other than for the patient its hard to estimate, right its hard to estimate how long a livein person will be staying with you its hard to estimate the actuarial tables you have the baby boomers that took this. Isnt this a little more gray than black and White Companies trying to identify what the exposure is to longterm care . I dont know that i can comment on their specific situation, but just in general absolutely, thats where i think you have to have the right partners internally you have to have the right culture and you have to make sure that whatever youre estimating and whatever youre sharing, you do it in a transparent way. Its something we take very seriously at amn i can tell you all the way from the board to all of our 3500 corporate employees, and even our almost 20,000 clinicians working out in the field, we want to know that were doing the right thing each and every day. So we have a very open and transparent culture in that way. Okay. Last thing is what is the total adjustable market now . To me baby boomers retiring, demographics we were talking about, this market is much larger than we realized and youve got a lot of runway we do, we do. And we continue to expand into new markets, which expand our Addressable Market so if you think of Just Health Care staffing, its almost a 20 billion market but weve moved into many other areas such as some of these Technology Solutions i just mentioned. We also recently made a great acquisition in the Clinical School staffing space, the advance medical team joined us in june and i am so excited because it really helps us address a very critical part of the market, helping our children at a time when they need us most and so that business is doing some really interesting things to innovate in the school space, both in terms of delivering Behavioral Health services, physical therapy, but also innovating through telehealth to be sure we can get to those children in the most remote places so id say our Addressable Market has expanded dramatically, doubled since the time ive known you i want to emphasize in terms of Corporate Governance, she is amazing and a great teacher of it. And i know we care about that these days as much as we care about the earnings thats susan, president and c. E. O. Of amn Health Care Services this is a growth industry. It has nothing to do with anything happening in washington or in china. It just has to do with an industry that is growing like mad, and theyre capitalizing on it mad money is back after the break. It is time its time for the lightning round. Rapid fire calls buy, buy, buy sell, sell, sell and then the lightning round is over. Are you ready, ski daddy the lightning round, mike from new jersey mike, mike, mike caller jim, first time, thank you for all you do no problem. Caller im in the house of pain do i double down check, take my chips and go home with 10 National Gaming . Ten National Gaming, i like it here. I dont want you to leave it i like the domestic game you dont have the hong kong problem. I say stick with it. Dont double down. Lets go to jim in florida jim. Caller hey, jim, how are you doing . Pretty good, thank you, how are you . Caller im doing all right my question for you is regarding the merger with cvs. Whats the difference between class a and Class B Shares of viacom nothing, theyre both going down, its driving me crazy. The Charitable Trust owns via. I think you should buy it. The merger is terrific bob backus has to come on mad money and explain why this is great and i think, therefore, people will understand why my Charitable Trust owns it right now i feel like im all alone out here with the exception of lets go to aaron in alabama. Aaron caller hi, mr. Cramer, thank you for calling my call. Roll tide. Roll tide, love that. Caller i had a quick question about Berkshire Hathaway its down 8. 4 since five months is now a good time to buy yes, the answer is yes, unqualifiable yes. Great value there and great man at the top period end of story. I need to go right now to r. J. In california r. J. Caller booyah, jimmy they know nothing, they know nothing. I have a 5g play they know nothing caller my entire hia position to tsm, taiwan semiconductor. Well, youre taking kind of a risk there i do like the company, but i got to tell you, marvel, mrvl i own for the Charitable Trust, i will see your taiwan semi and raise you with marvel because rick hill is the chairman and rick hill hallelujah. Midas is what they call him i need to go to grant in texas grant. Caller cramer, thanks for taking my call my pleasure caller i wanted to ask you about yeti it hit 20 after all time highs in july. Is it an opportunity to buy or stay on the side lines i like yeti very much im surprised it came back down again. It had resistance in the 30s we liked it from the teens we like it still its a great brand name. It is my wife went to a school with a guy who went to trinity. Lets go to victor in new york victor caller booyah, jim caller i love those, whats going on caller i absolutely love the show thank you for what you do. Okay. Caller i recently took a position in a stock that had a big pull back this week. Despite earnings being good, it went be from 47 down to 24 i got in around 28 what are your thoughts on green dot, gdot . That was not that good a quarter. Unless you know something that i dont, i mean, i think youre just its a shot in the dark. They lowered guidance really badly. Im going to have to take a pass on that one. Youre on your own and that, ladies and gentlemen, is the conclusion of the lightning round announcer the lightning round is sponsored by Td Ameritrade mad money is not a show about picking stocks for you its a show about empowering you to think for yourself. This is bill from new york. Jim, thank you so much this is curtis from North Carolina i wanted to say thank you for creating mad money. Baba ba booyah. The wizard of wall street this is stockton from philly and i wanted to give a good booyah you are the reason why we do this doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Can you talk yourself into a recession, just talk yourself into it . Unfortunately the answer is yes. See, an economy runs on confidence Business Needs confidence so they can take risks. And this endless chatter about a potential recession can erode that very confidence when i say the only thing we have to fear is fear itself thank you, f. D. R. That does not mean we have nothing to worry about. L so far ive resisted the recession talk on the show because when you look at employment growth, consumer spending, demand for money, walmart, theyve been incredibly positive theres been no let up at all in hiring the shortage of workers in this country remains a bigger issue than unemployment right now and thats highly unusual. You heard that both from jim fish of Waste Management and susan of amn Health Care Services this very show but in the last two weeks weve seen a serious erosion of that confidence ive been telling you an outright recession is unlukely, but a slow down possibility. With 40 trillion bond market behaving like a Small Cap Stock experiencing a short squeeze, we need to take that possibility serious. Ive been getting criticized particularly on at which timer for being too cautious and changing my mind on a dime when the facts change, i change my mind. Its the bond market that changed on a dime, and that is thats crazy its not supposed to happen, people we went from a relatively normal bond market where long term Interest Rates were longer than short term, long rate shot through short term like a machete. I used to trade it because it was so out of sync in the stock market the market takes the que from the bond market now its starting to confirm what bonds are saying after yesterdays decline, the odds of recession increased dramatically the winners were the staples that have done well. It would be nuts to say i was positive, frankly that i would like to be in that scenario. However, i can and will continue to be constructive because i dont hear that on other shows at other places and other papers i like to be constructive. Put it another way, im not being inundated with questions from regular people wherever i go, whatever i do. Its not the question is not will there be a recession, but when is it going to start. I cant positively dismiss the possibility. One of the paramount clues inverted yield curve screams its going to happen soon. Some people say a year, some people say 18 months day by day confidence is eroding, eroded by a fed that tightened too quickly and remains unwilling to own that error. Even if you believe its an unnecessary evil as i do, the democrats running for president is not exactly friendly too big business and they might win. Right now we are talking our way into a recession for certain can we talk our way out of one we cant, but the Federal Reserve can. Fed chief j. Powell could come out today, next week, wherever, and says he hears what the bond market is saying and hell give us as many rate cuts as we need to get back on track the president could deescalate the trade war pleas, make it less visible in a back room. And stop bashing the fed for heaven sake. If bond yields keep plummeting, well scare ourselves out of the bull expansion as long as the fed ensures a soft landing, something i genuinely believe is still possible, but might not be for long stick with cramer. soft music when i see obstacles, i create opportunities. When i see adversity, i find a way. When i hear never, i say now. [announcer] Southern New Hampshire university is education made to fit your goals with over 200 degree programs, flexible class schedules, and some of the lowest online tuition rates in the nation. cheering so when i face barriers, i can break through. [announcer] breakthrough at snhu. Edu. My dog had a great flub tonight. Thats right, nvidia up side surprise i think its the first of many and i think that people are going to have to take a swig i like to say theres always a bull market somewhere. I promise to find you for you here on mad money. I am jim cramer, and i will see you tomorrow welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. If they hear a great idea, theyll invest their own money or fight each other for a deal. This is shark tank. To connect students and teachers. Hello, sharks. My name is Taylor Robinson, and im from dallas, texas. Im the proud owner of Taylor Robinson music, and were here today to raise 100,000 in exchange for 10 equity in our company