Transcripts For CNBC Fast 20240704

Fast money. We are live. Lets begin with the great rate rall. Rising as high as. 33 . The move taking a toll on stocks. The dow down 290 points, the latest index to move below its average. It is the first time it has done that since first, so is there any end in sight . I thought actually markets did okay, considering the huge climb. It is interesting. I know for a fact that miley cyrus is a huge fast money fan and one of her hits is called, the climb. This is not what you want to see. The rates are going higher. Events are going on globally. We are at levels we havent seen in quite some time. I have looked at it and i think we are about to break through a forty year downtrend in yields. To me, it will be very negative. You are right, the stock market sought off late. We are at levels at the s p we topped out at last year. There should be support but if yields continue to move like they are you moving, there will be ramifications. I think they will top out next week. Everyone has gotten on one side of the trade and everyone is convinced we will break out of this range. On the desk for the whole hour in late june, she got up in my grill and said no, no. Rates are going higher. It was like 375 or Something Like that for the 10 year. Going back to the way everyone is positioned, it seems this is a foregone conclusion. What do we know about markets and making these hot takes all the time . When something seems like a foregone conclusion, it goes the other way and i want to think about taking the other side of this. I did have a bullish position a few weeks ago and it did not go well. Was in my face that the timing was early. I think it could set up pretty decently right now. The one thing i will say about equities, because that is what you asked about, i do think it has an effect on equities. The fed is battling inflation and in late 2021, the highest value stuff started to sell off. Thats whats happening right now with the s p. I think it could snowball a bit. It could easily turn into 10 . Big Technology Already started the month under pressure themselves. I was surprised the s p broadly closed with less than a percent decline. I would have thought this very important move higher would have had more of a toll. There are some well, everything i own was down. There are a few things going on. One of them, as this idea of no recession or soft landing gets more traction, there is this idea that, wow, if bonds were down because of the looming recession, and that is not the case anymore, now we see race rates rise. Its just math. What is the discount rate . The higher your multiple is, the more pay to the multiple when it comes down. Today was just an awful day for me, but i think some of the stuff that is low i do feel comfortable with. Retail was a little better than i thought, so there are pockets things are going well. I just think the runup in the nasdaq was unsustainable. These guys mentioned positioning and next week is a big week for a couple of reasons. Jerome powell speaks on the 25th. That will be key. Weve got video on the 23rd, so these are two different events that will have a big impact on the markets individually. Lets reference the miley climb. I would argue that apple has taken the miley climb, even though it is steep, but it seems it is taking the elevator down and we have seen that with a bunch of other stocks. Semiconductors outperformed the other groups, which are down 10 now. If you look at that gap, it feels the s h wants to trade down to 135. In terms of yields were not necessarily positioning for higher yields and that is where equities are starting to take a tumble. If you look back, i know we just quoted we are at 15 year highs, and if you look back just two years, weve moved up 300 points. That is your discount rate. What are the equities work with 300 basis points higher than years ago . By the way, when markets were at their high, multiple stocks were at their highs and the market was close to making all time highs. If you look at the market today, Interest Rates are getting whacked. Look at the homebuilders. That one has really turned and has turned quickly. Even though we have had great earnings ahead of the homebuilders, weve heard about their ability to fill the financing gap. Look at emerging markets, which look like they are about to break out and i would say the high multiple tech trade, anything that could be some portfolio of companies that were trading in multiples that never made sense, they made sense for most of this year and those things have turned quickly too. I think the trade is higher on rates. I dont no. Dan, you might be right on that. I get the sense that everybody are of the view rates couldnt get higher and some of the things that have writ hit the radar screen, these are things that were really not in the calculus. Think about what Jerome Powell would want to message to the markets. He wants to put to bed there will be rate cuts around the corner and put out the message rates will be higher for longer and that is not just until february of next year where they start to cut because that should be dispelled. Youve got a potential message coming out of jackson hole. What if they actually do beat the guidance they have . All of a sudden youve got this choice. Are things really that good, or is the higher for longer narrative, is that taking over . Someone put a price target on the video today or yesterday. One of the reasons yields are going higher, thats fine. We will no longer do it at stupid low Interest Rates. You will have to pay us to take that risk. Listen, the japanese are the largest owners of our debt and guess whats happening there. That market started blowing up before our very eyes and this has this loop affect and it falls into our market. Yes, i think rates can go higher but that does not suggest things are better than the United States. What multiple are you willing to pay for growth, even if a Company Delivers . You know, then you really have a choice. If you look at the s p 500, weve had guests talk about this and parts of the market, large parts of the market, they were low team multiples. There were like two dozen stocks trading above multiples that give the s p 18 or 19 time multiples. Lots of parts of the stock market our pricing in a soft landing. Maybe something worse. When you think about where you would expect these groups to trough right now, a lot of work has to be done for the high evaluation names. I had a conversation with dan denials, legendary tech investor in my book. Yesterday he said what if they do raise and the stock doesnt go higher . Think about what that might say for the stocks that have gone lower. Microsoft and apple are down 10 and if we have a Snowball Effect for the big participants in the index, we could be in for a problem here. Lets get now to Cnbcs Rick Santelli in chicago. I think i am with dan. Most of the selling action was early and for the most part we have settled pretty much at the low yield even though it was higher on the session but only by a couple of basis points. Yesterday was the first time we have closed in the quarter and not by much. We are a couple basis points above it. Whether it is tends on the same chart, i could have thrown 20 on it. All closed at the six consecutive higher yield in each session and that is important, but i agree with ti. There is a defensive feeling to this. I believe in breakouts. If you look at the pattern that developed on the historic august 4th 2020 close of 50 basis points, a perfect pattern and it extended too far out. Normally they end up breaching but not moving far. The way i would approach this, i do not think we are going back down much into the 380 zone, which is significant, but there is a ceiling on rates. The key here is it is so little push through technically that tomorrows weekly close needs to be above 4. 25 or above 4. 27 and if it is, the next major resistance level is 461 and it will turn a lot of time to get up there. Guy, you are right. Sometimes they go up for good reasons and sometimes they go up because gas and diesel prices are higher. When you throw in uaw, there are a lot of moving parts that are not necessarily good. People can blame the fed but there is a whole lot more going on here. Rick santelli , thank you for joining us from chicago tonight. Those are interesting points. Its a mosaic. He has forgotten more about the bond market than i will ever no. He does an outstanding job. I am with him. There are a lot of moving parts here. The yield will not be supportive of evaluations and the yield will go lower for many reasons. The reason bonds do this late in the day, the equity market was selling off so there is this perverse quality in the form of bonds. You can make the argument if yields are going lower and if something good has happened, if yields continue to go higher, it is not supportive of equities. Lets bring in ceo and advisor, andy. How do you feel about this . Since i was last on august 1st, the s p has fallen over 5 and the nasdaq over 6 . Some of the high multiplier are up significantly. Those are pretty big moves and i think the principal reason those were the catalysts, but the principal reason was from the treasury. They issued significantly more than i expected last time we spoke. How are you position . Do you think the equity markets should go much lower from where we are . How are you positioned . Yes. Equities have performed fairly well, given the amount of increase in yields. I think they should have to cash down to the fallen bond prices. They may have been held up by strong economic numbers. Equities will fall between 4 and 5 before the bond market levels and the equity market levels get into line but bonds will be under pressure. They do not go down in a straight line. Bonds and stocks the driver of a treasury issuance was just announced. It has not come to market yet. If banks need to issue corporate debt or the chinese or japanese currency markets have to be supported by the official sector, they will have bonds for sale too. Its a combination of things. Should it impact rates 25 to 50 basis points before supply comes into balance . That should take over the next six months. Andy constan, thank you for being on. Seems like a long time ago now, but now they have made this announcement and i would wonder, does the market know how much there is to be issued . When it will be issued . It is surprising to me that you think the actual issuance itself would be the catalyst when its the knowledge of the issue and how much favor there is to go. I think that is how the market would price it now. Thats right. You have to think about the amount of money that can front run Something Like this. In certain circumstances like a small rebalance, you dont need much money to move out of the market. We are talking about approximately 200 billion of supplies coming in the Fourth Quarter and more in this quarter in bond issuance and thats about 200 billion of money that can be front running bond markets, so i think we will have a situation where the front running will do some. Maybe i dont know, half . The actual supply will affect the market on an ongoing basis. Andy, i want to go back to the point you brought up about selling pressures around the world such as from japan. Did you say 25 to 50 basis points for impact . The impact from the potential catalysts for currency defense and the large supply is worth about 25 to 50 basis points. So we could go to 4. 5 is what you are saying . Sure. All right. Andy, always good speaking with you. Thank you, melissa. Andy constan. 4 1 2 was a little more than we were talking about. Do you see that in the cards . Is that terrible for equity markets . It sounds terrible. I will take a little bit from guy, a little bit from rick, and a little bit from andy. We dont know where the markets will go and its because we are four decades lower in rate because of the sheer size of the supply that weve never seen , because of where the jg b market is breaking out to eight year highs. I mean, that is what we call targeting. I feel as if investors just arent ready for this. Remember, most people thought the economy we could close the book on those who thought the economy would be in a deep recession. I am not saying it wont happen. In fact, it could happen but look at the jobless claims. There is no sign of the labor market weakening since march. The point is, weve got a dynamic here where the fed cant do a whole lot and i think that is the case yields can drift higher with all of these other forces at work and the position of going to 3 , not 4. 5 . Guy and rick are music savants and neither of you could come up with wrecking ball from miley . Come on. A music savant and a miley fan arent mutually exclusive. Sorry, miley. She is watching the phone show. Coming up, we are bringing you numbers next. And later, a shark tank Investors Company wn hewe return. Power e trades easytouse tools, like dynamic charting and riskreward analysis help make trading feel effortless. And its customizable scans with social sentiment help you find and unlock opportunities in the market. E trade from Morgan Stanley. With powerful, easytouse tools, power e trade makes complex trading easier. React to fastmoving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you wont miss an opportunity. E trade from Morgan Stanley with gold bond. You can age on your own terms. Retinol overnight means. The smoothing benefits of retinol. Are now for your whole body. Plus, fastworking crepe corrector diminishes wrinkled skin in just two days. Gold bond. Champion your skin. Welcome back to fast money. Shares of the ship equipment maker after guidance of the Current Quarter coming in higher. Now for the latest from the conference call, kristina . The ceo contributing the strength to a. I. Of course, they make high bandwidth memory chips. He also pointed out that regionalization of Semiconductor Supply Chains in the United States is helping their business since companies are snapping up equipment when building on american soil. On the call, they were asked about china and he said in q3, there was a small amount of shipments to china. Q4 will be larger. There are a lot of concerns over whether there is a lot of buying happening from china before export restrictions, hence less revenue several months from now. One last interesting point that was just discussed before coming onset, the ceo said on that depressed memory chip market, he said they havent seen a turn at this point, so maybe not a good sign for the memory chip maker. Dan nathan , if there are export restrictions later on in china pulls forward orders, that is revenue that otherwise would not have been made in the future, correct . Well, no. Wouldnt it be more spread out . This is a major concern, that the orders are being fold pulled and when you keep raising the bar, it will set an extremely high bar seven months from now and then you would see a negative reaction in the stocks. I would assume that no, they were supposed to be coming out seven months from now, but now they will do it two months from now. Kristina, thanks. How do you feel about that . The fear of not being able to order them in the future may cause you to buy more now. You are setting up for a difficult quarter in a year. Of course, that revenue may not come if restrictions are really tough. We heard a lot about a month ago from some of the items. Despite what they are seeing in certain end markets that were weak, the demand for highend was not outweighing the weakness they were seeing in other areas but they said x was not bad. When you think about the beat they had, high Single Digits for the quarter just reported and nearly a 10 revenue for the Current Quarter and stocks are only up 2, 2. 5 , Something Like that. There is a lot of enthusiasm and a lot of people were expecting this thing. That goes back to the comment i made earlier, we will have to have a monster raise. The whisper number has been moving up. Analyst have been tripping over each other to raise targets and raise their estimates for the Current Quarter, the next few quarters, and that sort of thing. I think there is a lot of enthusiasm baked into the quarter right now. The lower end of their guide was the highest end of the expectations. They got it at 1. 82. Evaluation is reasonable. The margins hung in there. Stocks should be much higher than it is right now, so maybe there is this dampening effect. You can make a decent argument that the evaluation should be higher and the fact that it isnt is a little more concerning. Much more ast money to come. A pharmacy switch that sent cvs shares plummeting. And how mark cuban is involved, next. Walmart dropping despite an earnings gain as target continues to climb. The fortunes driving the two stocks and where they go next. You are watching fast money live from the Nasdaq Market site in times square. We are back right after this. Aaa relies on tmobiles network to stay connected nationwide, so they can help get their members back on the road. And were helping pano ai innovate, to stop the spread of wildfires. Nows the time to see what americas largest 5g network can do for your business. The citi custom cash℠ card automatically adjusts to earn you more cash back in your top eligible spend category. Hi. You dont have to keep tabs on rotating categories. This is the only rotating i care about. Or activate anything to earn. Your cash back automatically adjusts for you. Can i get a cucumber water . Earn 5 cash back that automatically adjusts to your top eligible spend category, up to 500 spent each billing cycle with the citi custom cash℠ card. I love it. [voice vibrating] we never just see the numbers, we see the people. My dad started trek in a red barn in waterloo, wisconsin. And now it spans the globe. You wanna take what was given to you and you wanna build it. And you wanna pass it along. If i can do that, i would have done well. Thats why were here. To help make it happen. Welcome back to fast money. Cvs trading at its lowest level since 2020 after blue shield california says itll drop the service to partner with amazon. Blue shield says the move is meant to save on drug costs for millions of members. Blue shield of california has used cvss caremark as its benefits manager since 2021. Now it is shifting to low cost players on the pharmacy side, signing with mark cubans drug company. The pharmacy sells drugs at 50 over wholesale. Amazon pharmacy has launched a 35 insulin program. Blue shields ceo says when fully transitioned, the program will save 500 million a year in drug costs. Blue shield is the Second Health insurer to sign with costplus. Mark cuban is confident they will win over more. He told me there are a lot of bad habits they need to break, but payers realize that costplus has made things more transparent. The industry will have to adjust. Blue shield will use cvs for specialty drugs but analysts estimate losing the pharmacy benefit side will mean maybe two cents of a hit. In the wake of todays stock market moved to a 2 1 2 year low, the ceo of cvs defended the track record saying, blue shield california is a unique health plan with unbundled Pharmacy Services and they have won several large Blue Cross Blue Shield plans within the last few years and are confident in our abilities to serve these large, sophisticated plans. The biggest loss, melissa, is last next year. They lost to express scripts over at cigna. Bertha coombs , thanks. It makes it almost laughable they came out this afternoon reaffirming 2023 guidance, since there is no impact to this year. Karen, you owned cvs . Yes. I woke up to that delightful piece of news. It is not so much about this one client. It is certainly a big name, but it is about the pressure on the industry. As bertha said, its 80 of the number of prescriptions. Mark cuban costplus drug plan, that is a funny name. I get why they did it. Maybe things like ozempic, but for Cystic Fibrosis drugs, the more expensive ones, they are staying. Makes every customer of a pbm embedded in caremark that they have to think and renegotiate. Anything that puts pressure on an industry that is opaque or shining a light on anything opaque makes me very concerned. Is it cheap here . Yes, but even if the earnings stay, even if it is a much lower bleed then i think, people will be pessimistic about the future potential of those margins. It reminds me of jeep. They are still making a bunch of money, but people are saying what is going to happen in the future . I had to just say, do you know what . I like it, but im out. I am done. You can certainly take it off the monitor for a few days, so that helps. We are also in an election cycle. Now lets bring in a healthcare portfolio manager. Les, do you own cvs . No, we do not own cvs but we own United Health and that is down for the players and there is a reason for it. You were alluding to it, right . It is not just this is not a material hit to cvs, but its amazon getting into healthcare which always has a disproportionate reaction to stocks, right . And healthcare. You alluded to the politics. We are going into an election year. Democrats dont like it. Republicans dont like it. The pharmaceutical industry doesnt like it. It is because the market has failed because of the asymmetric information and lack of transparency, so i think there is more to come actually. Do you think these pbm will need to be rerated . Do you think the Business Model is really threatened by this . It is one thing to say amazon is getting into healthcare and we saw that headline way back when, but this headline is amazon is taking business away from a legacy pbm. It is completely different now. Two things. It is death by 1000 cuts. We dont actually know post 2024, 2025, whether this is a growing trend, but i do think that if you are an employer or an hmo, you have to rethink or at least answer the question to the board , should we be doing this or not . That is not a question you might have asked, say, on tuesday. You know, the market cap is north of 1 trillion. Not as significant as my point. What type of haircut are we talking about . At one point itll be cell first, ask questions later across the entire space. We are going into politics. Itll be hard to parse out what is causing what, but in terms of the fundamental rating, it will be company specific. United has the big i. T. Unit and cigna is doing its own thing. A couple of multiple points definitely. This is a very profitable business for everybody, so it could be significant, and to your point, everybody will sell first and ask questions later, which is wall street. Les, great to get your take. Les funtleyder, thank you. Dan, what s your take of this whole thing . They have been struggling substantially for months. I do think their value in the pbm, i recognize what the implications are , but again, i would not have thought this to be the reaction, especially in a world where cvss market cap reflects mark cuban, but i do recognize this is an existential moment for the entire industry. They have a very, very profitable pbm business. Karen, you own too and that was down. When i think of cvs, i think if i own none, what i want to buy one right here . And the answer is no, not yet. It could go lower. I am not thinking of buying here. Coming up, a paris trade profit. One of our traders made a call to walmart and target. Plus, chinas debt crisis deepens after missing dozens of payments. The impact it could have on a brd rae oangof investments. The details when fast money returns. The biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. It still does. What can you do with spy . Eat pretzels. Eat more pretzels. Watch movies. Watch more movies. Get airline miles. Get onekeycash. Book inapp to earn onekeycash on top of your airline miles. That is guy laughing. Welcome back to fast money. The dow closing below its average for the First Time Since june 1st. The nasdaq dropping more than 1 and the s p 500 losing just under 1 . Shares of pinterest are down. The firm believes stabilizing digital ad market will be the recipe for success. Shares of ross stores jumping after being at the top of the bottom lines. Earnings coming in at 1. 32. Ross citing easing inflationary pressures as driving the strength. Lets get to our other big retail story of the day. Walmart stocks slumping 2 today even after upping its fouryear forecast. Most of the discount retailer sales except for discretionary items. Walmart and target were to be winning trades. Now target is outperforming walmart, but both are still down. What do you think here . It really has to do with sediment. The way i was thinking about it, we had a great conversation and i think we were talking about the fundamentals of walmart. They were good. The guidance speaks to that. If you look at target and say that stock was up 5 , that didnt speak to a company where the fundamentals are particularly good except everyone hates target and loves walmart. Sometimes it is just that simple, to take a crack at it like that. We could get back in the next week or so where the investors get back to the fundamentals because the positioning was probably the most determining thing of how these stocks would trail on their way out. I had it completely backwards. I thought target would continue its deterioration and the walmart quarter was very good. I mean, very, very good. Evaluation gets in the way sometimes. Again, you look at it, targeted exactly what walmart should have done and vice versa. Will rectify itself. The question is how much more in line will the two get before they start to do it again . I think they will get more in line even though the target forecast was good. Remember, walmart said we did great in the grocery business. I look at a giant grocery business like albertsons, their multiple is way lower, so what does that mean for the rest of walmarts business . Now they are much, much bigger than albertsons, but albertsons is a 150 billion business. The differential is too high. More so target and walmart. The paris trade should suffer paris trade on its own. You hate doing that. I do every once in a while if it gets interesting. Ice cold, dan. Coming up, fallout from chinas real estate crisis could be getting worse. One of the biggest shadow banks making payments. Weve got that story next. Plus, Chesapeake Energy trades and wherehe t action is headed in two minutes. At this Holocaust Museum in israel, you see the names; the faces, of jews that were brutally murdered. 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You seem so full of love, and not of hate. Just 25 helps to rush a food box to a holocaust survivor. I hope youll join me at the International Fellowship of christians and jews. We can do something to relieve their suffering. Please, do something now. Welcome back to fast money. One of chinas shadow bakes banks missing payments and adding to liquidity concerns in china ass financial sectors. Melissa, security was tight today. The company set up a Registration Desk to handle investors who were showing up, demanding their money back. In the past day or so, videos appeared online and were later censored posted by angry investors at the office. We saw a dozen investors worried and agitated. Staff confirmed some of the product wouldnt be paid back due to the liquidity issues of the underlying investments. On the shanghai exchange, investors have filed hundreds of inquiries to List Companies asking about their potential links to property giant garden which now faces default. The Police Presence is heavier and there are reports investors want to press their cases to government authorities. Melissa . Thank you, eunice. China filing for chapter 15 protection in just the last hour , so troubles are mounting and people are getting angry about this. It is not just the value of their own homes are gone but they are not getting investment payments as well. No. This is a social issue in china. We are talking about major retail backlash but factory workers invested. Theyve got a number of Portfolio Companies that are i mean, it is a Massive Company and a company with enormous exposure into the, you know, shadow financing and property market, so there are a lot of different tentacles here, but in terms of what is not allowed in china, this kind of social unrest is not allowed. If you look at the impact and around 7 30 and the 4 move, it is a pretty significant move in a short amount of time and, 10 year lows against the dollar. This is the backdrop we are talking about in part of the backdrop that has got people worried. And by the way, many times this would lead to a bigger fight which would help treasury yields. It is pushing bond yields up a bit, but again, we know whats going on. 42 has turned on a dime after a lot of very good fundamental. If were talking em investing, it looks better than ever. This news out of china, amazing you brought this up a couple of days ago, melissa. Amazing how it was not front page news in every newspaper until today. Just one shadow bank in a 3 trillion industry in china, so imagine multiplying that potentially, you know, i dont know, two times . Three times . Whatever it is. On top of that, weve got the unemployment problem that is so bad, they are not even releasing data anymore. Guy, how do you separate this aspect from another trade or Something Like that . That is the point. The hope is with that kind of trade it gets knocked down in terms of evaluation where you can make a compelling case but that is separate from whats going on and it is a much bigger issue. Quickly, eight years ago, just this week we brought up the ensuing months this Ripple Effect it had in global market. It is happening again right before our eyes. Might be slowmotion this time but dont mistake it. It is absolutely happening. Going back to the initial conversation about yields, it is above my pay grade. Lets put it that way. If you look at what is going on in china and whats going on with their economy right now, i dont know how they will export that here. As long as ive been in this business, i just dont know how we are immune to it. Think about the excitement and the economy and pushing recession expectations. When they change from zero covid , i do believe that was a big part of what happened in january and february. You said it. How is this not on every front page of a business channel or whatever . Maybe it is and maybe now we are starting to feel that a bit. Coming up, oil trading for the year. The climb continues and we will lay it out when fast money returns. Please dont go by harry casey, Richard Raymond finch sfx ping please dont go please dont go. Please dont go please dont go dont goooooo dont go away please dont go introducing purples new mattresses. Our unique gel flex grid draws away heat and cools up to 4x better than other leading mattresses, so you fall asleep 20 faster. It relieves pressure for fewer aches and pains and instantly adapts as you move, without ever disturbing your partner. Deep sleep. Guaranteed. Sleep better. Live purple. Right now save up to 900 off mattress sets during purples labor day sale. Visit purple. Com or a Mattress Firm near you. Welcome back to fast money. Chesapeake energy jumping 4 after news the oil company is joining the s p index. Chesapeake traded 10 times its average daily volume today. Of the 2000, ultimately 90 calls were traded. One of the bigger trades we saw was a sale of 2000 of those 90 calls. It was at 1. 45. The move would be potentially limited at that 90. That would be a 5 increase from todays closing prices between now and the september expiration. Michael, thank you. Tune in tomorrow at 5 30. M p. Eastern time. Up next, final trades. Good luck. Td ameritrade, this is anna. Hi anna, this position is all over the place, help hey professor, subscriptions are down but thats only an estimated 15 of their valuation. Do you think the market is overreacting . Howd you know that . The Company Profile tool, in thinkorswim®. Yes, i love you please ignore that. Td ameritrade. Awardwinning Customer Service that has your back. Time for the final trade. Timothy . One of the great yield spaces, removing major overhang. I think they will do something in this feels positive. Chairwoman . I find myself agreeing with dan in almost every point of the target and walmart trade. That is my final trade. Dan . You know, if Michael Jordan was out for a week or so, they would be able to weather the storm but if michael and Scottie Pippen were out the same week, it is extraordinarily problematic and we find ourselves in that position next week as both you and karen are on vacation. Enjoy that. All right, thank you for watching fast money. Tune in for mad money for mad money. Jim cramer 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 save you some money my job is to entertain but really to explain. Okay so call me at 1800743cnbc or tweet me jimcramer i get it nobody ever wants to give up their gains. You don