Turn cautious too soon rather than wait until its too late. In addition, marks writing that asset prices are high, quote, across the board. That there are few bargains to be had and that a growing number of investors are embracing increasing risks to achieve their returns. Here to discuss that and debate the memo, the stocks which are moving today at this hour, pete s na jaaron. Also with us is cnns leslie pi pickert going through this memo. It is from oak trees howard marks questioning whether stocks are too expensive. Jim, he says the s p 500 selling at 25 times trailing 12 month earnings compared to a longterm median of 15 he mentions the schiller cape ratio. Almost 30 versus a historic median of 15 right. Is he right he is right in concept. Now this is not bubble territory. Stocks are a little expensive. The market overall is a little expensive. I look at some of these industrial names as earnings come out, trading in the mid 20s for a multiple thats a little bit high heres the thi
Regulations. We have a look at an industry burned just as bad as coal. The shocking sector that saw business slashed in half and the somewhat complicated road ahead for untangling the red tape. A cold relationship growing warmer just as another involving a closer ally freezes up. Were talking to two men on the front lines of key negotiations with both russia and mexico under president s clinton, bush and obama, as President Trump looks to turn policies of the past on their heads. And snap, inc. , a 20 billion price tag and buzz abounds for what could be the biggest ipo in five years can. This unicorn take off like facebook or will it go the way of twitter, who despite the love of President Trump cant get Business Model to fly. Social media guru Pete Schneider makes the call on whether you should snap to attention and buy the snap ipo. Plus a possible new schism brewing at the white house over border adjustment tax between what President Trump is saying and one of his top key economic a
Speaker paul ryan for a second term. Hes in the Trump Transition Team working on tackling Economic Issues that matter for and you wallet from taxes to trade to National Security. In the next couple of minutes we will get to exclusive inside look from three major sources at how the Trump Administration could upend the status quo . Ceos fighting back against the trump rhetoric. Jeff flock has ceo mark fields at the l. A. Auto show. Adena friedman about to be the first woman to run a major stock exchange, she will tell us how Financial Institutions trump has attacked should change . And former congressman Pete Hoekstra advised donald trump on isis to russia, now his name is floated to fill a very big role. The former house intelligence chairman live with me exclusively. The dow is on track for fourth Straight Record close but the real story may just be not just the nasdaq but oil hitting a bottom as we told you it would, it is spiking up 5. 75 , were less than an hour to the closing bell,
Schlapp will put it in perspective for us. Plus, the epipen story taking another twist, the ceo announcing now the epipen will come in a generic form. Yeah, it will still cost 300. Well, the woman described as the Erin Brockovich of Food Allergies, robin to bryan, will join us exclusively to talk about that. And zikainfested mosquitoes taking aim at america. Now the race is on to find a vaccine. Well be talking with a ceo of one company on the front lines of that battle. We are less than an hour to the closing bell. Im Ashley Webster in for liz claman, lets begin the countdown. Ashley well, as the markets rebound today following last weeks selloff, gold making its own comeback after suffering its largest weekly decline since mid july. Some of big gold mining names getting a nice big boost, including new gold and gold corp. As you can see, new gold up 4 , almost 4. 5 . And as gold shines, shares of caesars entertainment, well, not shining, thats for sure, plummeting. Down 16 after a u.
Levels. Beeks . No i tell you, one of the strongest currencies out there is the euro right now. I still like it. Above 135, especially fxe, your etf. Thank you so much for watching. See you tomorrow, 9 00 a. M. Squawk on the street. Back here again at 5 00 for more fast money. Dont go anywhere. Mad money with jim cramer starts right now. Launch. Mad money starts right now. Im jim cramer. Welcome to my world. You need to get in the game. Firms are going to go out of business, and hes nuts. Theyre nuts. They know nothing. I always like to say theres a bull market somewhere. Mad money, you cant afford to miss it. Hey, im cramer. Welcome to mad money. Welcome to cramerica. Other people want to make friends. Im just trying to help you make a little money. My job isnt just to entertain but to teach you. Call me at 1800743cnbc. The dow jones average is just a stones throw from 14,000. Headed to its all time high that we reached five years ago. The index which rallied 72 po t points nasdaq 52.