Negativity and cynicism and a picayune way of thinking about how stocks are hostages to an allpowerful fed the dow jumping 457 points s p gaining 2. 1 nasdaq pole vaulting 2. 9 the house of pleasure we need to analyze why so many people didnt want to buy a stock that tacked on a record 277 billion in one day encompassing a record held by meta for the largest single session gain in stock market history. Hallelujah first lets just say i did my best to get you in it. Ive been recommending nvidia endlessly for multiple times a week both here and in the club for a decade now i knew early on that i had the by far the fastest processors because one of my Old Hedge Fund clients was on the board of intel back in the day, was always upset intel refused to get into the speedy graphic processing unit. But then ceo andy grove bridled at the thought back then gaming chips were considered low end and not good for anything beyond pretty video game graphics. They were cheap, they were cheesy, they were workless to him. Meanwhile, Companies Like audi north america were telling me nvidias chips were so much faster than intels and everybody elses and it wasnt even an competition to ee to see who should put the chips into the audi i pursued the nvidia story aggressively and after that i came to you with the idea immediately. For years ive told you that even though nvidia seemed expensive the stock would always end up looking cheap in retrospect because the actual earnings would be much higher than expected. I documented this time and time again. Yet for ages nobody seemed to catch on then you know what finally i got so darn fed up with my inability to get peoples attention to buy the stock that i just renamed my darn dog nvidia. In a blatant gambit to sell you on this amazing company. This 785 stock was just under 40 back then for the renaming i think the dog is what finally got through to some people because since that time i am stopped a lot and thanked for nvidia but why did i have to take the extremely shocking and irrational action of slapping the name nvidia on my half pit bull half who knows what rescue mutt to cut include the clutter . Lets figure this out. First i blame the big picture strategy the talking heads who endlessly fixate on the fed, the fed, the fed, and then the fed including every fed official who wants to share his or her opinion on Interest Rates im not against keeping one eye on the fed thats essential, something i learned in 1982 when i was at goldman sachs. They reminded m he that high Interest Rates can take money from stocks as an asset class and of course they can signal theres going to be higher inflation. But even though the fed took rates extremely high in the early 80s, nobody ever suggested you should avoid microsoft or intel because rates were volatile. You would have missed out on two of the best runs in history if you did that these days, though, we treat Interest Rates as the beall and endall. Some of these pontificators make it sound like you shouldnt own any stocks at all if the fed isnt going to cut rates i was making millions of bucks in the market back then when rates were twice as high and this is coming after 11 straight hikes im sorry to be so blunt about it you about i cant come up with a more diplomatic way to say it they keep you from buying highquality stocks. Olook at it like this, do you think jensen huang sat back at den yis where he thought of these graphic cards and said i dont know what the fed is thinking or im worried about the 2 rz and the 10s or whats Loretta Mester saying . Too many people dwell too much on what i consider to be inside baseball stuff and miss the big picture. Picture like the fact we have great leaders like jensen huang, elon musk at tesla, Mark Zuckerberg at meta they can triumph over this noise. You think these guys paid attention to these faux constraints . No their eyes were on the prize in the end all this fed talk is only relevant to super large hedge funds, the ones so big that individual stocks arent enough to move the needle so they dont even invest in them these managers obsess over the big picture because they can only invest in the averages. Too much macro, not enough willingness to get your hands dirty learning about gpus versus cpus and generative this and large language model that. Notice how rarely they talk about individual stocks . Notice how rarely they ever help you . Then theres the cynicism. Weve got some bias in the media. Anyone whos made a lot of smoin treated with a certain level of suspicion, with the exception of Warren Buffett everyone seems ton purely out for themselves what if there were actual leaders owho jay longterm vision, one that can make you a lot of money if you just stick with them . Thats why i say own nvidia dont trade it or own apple dont trade it theres no other way to get through to people that these ceos arent simply overpaid carnival barkers or how about a belief that no company can be as big as nvidia or apple or the other trillionaire names but why does nvidia have to be held to the standards of the small guy when its starting a new revolution based on super fast computing its not alchemy, its blood, its sweat and it is indeed tears. It is. Go back 24 hours if you doubt me go back to what people were saying say it over lets go back to what people were saying tuesday. All right . The long knives were out for nvidia here and many other places because so many people just know lets put it this way. I dont think the critics even now what this company did. Thats right so many of them. They didnt know what they did they dont know what nvidias about. Its not just they didnt do their homework and believe me, most of them didnt its that they havent had a chance to go behind the scenes and know what this companys about. Nearly five years ago i went to nvidias headquarters and jensen huang asked me to speak to a computer, what he said was itching to paint whatever i wanted it to i looked askance i told the computer, though, i wanted a cezanne seascape. Two minutes later there it was the machine knew cezanne didnt paint seascapes but it gave it the old Computer Science try and it worked. Jensen watched my amazement with glee next time i came out he actually made me. Thats right with a philadelphia accent and all. Which both cramer fave actress kate winslet and jensen describe as very hard to get right. Only i could tell the difference except the jensen made cramer knew more about how to put on a show than i did. Each time i come back from nvidia World Headquarters and try to explain my amazement but nobody believed. I talked about how a Fast Food Restaurant chain could replace the person on the drivethru speaker phone with a computer that speaks 27 languages, never makes a mistake, labor savings, people of all nationalities picking your restaurant because of this nvidia system. Not one of these companies had any interest not even a french frys worth of curiosity. If i were frustrated you can only imagine what jensen felt like and then out of nowhere chatgpt. Chatgpt took the world by storm. Friend of jensens the technology was based on everything jensen had showed me for years. Understand jensen and his team knew it was just a matter of time which is why he was ready with hundreds of thousands of graphics cards for that magic moment so what did you need to get nvidia right all right. You needed curiosity you needed a sense of wonderment you needed to suspend the endless cynicism you needed to unshackle yourself from the chains of the macro and you needed either some genuine homework or a qualified teacher like jensen himself or maybe you believe my analogy to taylor swift bottom line, in short, to nail nvidia you need to do the exact opposite of everything that captures the conventional wisdom of modernday investing in this country. What a crime against rationality. A certain amount of skepticism is always healthy. But if youre trying to make money in the stock market, youve got to believe in something. If you cant do that, if you cant believe in the progress, if you cant believe in the people, youll never be able to stick with a winner like nvidia. It just cuts against the cynical zeitgeist. And guess what, it keeps you in the sell sell sell trading chains ray in illinois, please. Ray. Caller yo, philly chill. A big windy city booyah to ya nice. Whats happening out there in the windy city caller just a nice early spring day my question is regarding the stock that has been an absolute beast for my portfolio given their current valuation and nvidias recent announcement they are creating a new Business Unit that will focus on applicationspecific chips as broadcom does, is it time to ring the register or does broadcom have further to run saw my friend stephanie link today and we were Walking Around right here on the floor and she and i were both singing the praises of abgo, which is broadcom it is not the right time to go from broadcom. Look, moneymaker that stock is going to go higher how about we go to sam in colorado sam. Caller jim, how are you . Doing well. How about you, sam caller im all right i think i have a stock that has two potential catalysts that could be massive and one giant issue. Weve got to talk about rivian 2021 ipo massive ipo. Stock now down 90 curious what you think about the valuation now that its down at 10 billion i was bummed today. I went to see mr. Scringe in brooklyn i was bummed because on his Conference Call he talked about historically high Interest Rates hurting the business i wish he hadnt said that he said it several times it doesnt jibe with what i think, which is that right now its tough to sell these cars. And i did think the phil lebeau interview this morning was brilliant because he did put the feet to the flame and i didnt come away feeling as good as i wanted to. Lets go to brooklyn, which i didnt know this, is in kentucky caller booyah, jim. I want to know your thoughts on airbnb i like airbnb very much look all right. Riddle me this why does brian chesky not get the respect that so many of these other entrepreneurs . Because i think cheskys fantastic. I like the app we use it. It is a buy. No, it is a solid buy. Up 6 today you know what, were not done. Lets go to dan in georgia dan. Caller hey, jim. Im looking to add a couple longterm Marquee Brands to my stock portfolio that pay dividends consistently so ive been checking out ford and cocacola. Specific to cocacola, do you think this is a good time to get in or yeah, i think cokes doing well its got a 3 yield. It consistently does well. James quincy is a really good manager. Its not going to shoot the lights out but we have some nonshoot the lights out stocks for the Charitable Trust and those do just fine. Not everything can be nvidia actually, nothing. Heres the moral to my nvidia story. If youre trying to make money in the stock market, youve got to believe in something. If you cant do that, youll never be able to stick with a winner like nvidia youll never be able to own, dont trade. On mad money tonight californias largest utility is raising rates and restarting its dividend im talking with the ceo and shes been delivering. Then a power player in the Home Improvement space. Believe it or not the third best performer in the s p 500 the last five years behind Enphase Energy and yes indeed, the only one at the one and only nvidia can you imagine we have nvidia talking about that how about this wing stop. Flying high today. Up over 100 in the last six months im hearing whats behind the recipe to success from the ceo and dont forget we care about percentage gains, not just marquee names. So stay with cramer. Announcer dont miss a second of mad money. Follow jimcramer on x have a question . Tweet cramer madmentions send jim an email to madmoney cnbc. Com. Or give us a call at 1800743cnbc miss something head to madmoney. Cnbc. Com. grunting at morgan stanley, old school hard work meets bold new thinking. laughter at 88 years old, we still see the world with the wonder of new eyes, helping you discover untapped possibilities and relentlessly working with you to make them real. Old school grit. New world ideas. Morgan stanley. You can make money the hard way as a bullfighter old school grit. Or a human cannonball. Or save money the easy way, with xfinity mobile. Existing customers can get a free line of our most popular unlimited plan for a year not only will you save hundreds but youll also be joining millions who have connected to americas most reliable 5g network. Sure is a lot safer than becoming a stuntman for money. Get a free line of unlimited intro for a year when you buy one unlimited line. Plus, get the new Samsung Galaxy s24 on us. Is it possible to count on my internet like my Customers Count on me . It is with comcast business. Keeping you up and running with our 99. 9 network reliability. And security that helps outsmart threats to your data. Moaire dida twoo . Your data, too. Theres even roundtheclock customer support. So you can be there for your customers. With comcast business, reliability isnt just possible. Its happening. Get started for 49 a month. Plus, ask how to get up to a 800 prepaid card with a qualifying internet package. Dont wait, call and switch today some stocks just dont get enough love because their earnings come at the wrong moment take pg e, the Northern California electric and gas utility thats going through a major turnaround ive told you i like the company repeatedly but the stocks hostage to a sector nobody cared about. Utilities today. Not after the quarter from nvidia its too bad because this morning pg e report aid nice top and bottom line beat with management raising their fullyear forecast, a forecast today only instituted three months ago on top of that after previously saying they could have 9 Earnings Growth in 202526 they say theres no risk into 202728. Pg e can make that kind of shot because the utilities have a tremendous amount of visibility in the future. Very predictable business model. The stock rallied in response butball finished the day down almost 1 . Money rotated back into tech i think its an opportunity. Lets hear from patty poppy, the ceo of pg e. To get a better sense of the quarter and how things are going. Welcome to mad money. Thank you, jim, great to be with you even someone on your Conference Call said it. What a bad day to report you got this nvidia, a juggernaut, nobody was thinking about a company quietly making you money that didnt go higher. I honestly think, and challenge me if im wrong, your company just didnt fit todays parameters. Well, thats for sure this is a long game. We are writing a differentiated growth story at pg e were a growth utility we deliver 12 eps growth in 2023 and you guys for 2024 to 2028 just like you said. I think in the long run this is definitely a place to be lets talk about some of the things people wereworried about. Wildfire ignition rate new low. Wildfire reduction 94 . Up from 90 which people thought you could never do miles underground, 364 above target, below budget despite weather that would have made you feel you couldnt do it these are monumental monumental changes that youve made you should be proud. Well, im proud of my team. Theres no doubt they really delivered. And they continue to deliver and thats because we have a way. We have a performance playbook, jim. We call it our pg e performance playbook and its got lean fundamentals, lean manufacturing, lean operations were deploying to the team, a Safety Management system and a way of changing our culture. And its showing up in the results and those results are sustainable. It wasnt like a one time we had a good year. Were building at capacity to deliver year in and year out last time i spoke to you we still had some Fire Victim Trust stock out there that i thought was keeping a lid on it. Thats now completely sold, correct . Correct just done 100 . Now, you also, if you listened to jensen today like everybody did, the number of data centers, we just need more and more and more. I thought the data centers said goodbye to california powers too expensive. Didnt want to be there. Looks like that certainly isnt the case anymore thats true we in fact in 2023 had three times more data center requests than we had in the year previous and you add in electrification of transportation, we had 27 of new vehicles sold in california in 2023 were evs and thats up from 23 the year before people are saying people arent buying evs theyre buying them in california and we get to power them lets speak of the distributive power for a second. Weve had some disasters when it comes to stocks. One of them was sun run. But they have a partnership where youre basically bidirectionally charging that seems like a win. Yeah, were using batteries as a partner to solar. Solar by itself has certain benefits in the middle of the day. What we need is to have it dispatchable when the sun goes down, that we can still use that energy pairing it with storage was a big part of our strategy we were happy to do a partnership with sun run what im trying to find out is i like the stock for 20 but im trying to figure out what gets it to 20. Ive been reading a lot of articles about San Francisco coming back. We ourselves have seen it. And frankly i have not seen it yet. Im from philadelphia, a town that never really came back from when i was growing up. Is there are there green shoots in San Francisco i would say theres green shoots all over the bay area San Francisco, oakland, san jose we have the privilege to serve san jose and its surroundings. Silicon valley we see a lot of growth happening there. Weve got lots of demand we are a good Early Warning sign, if you will, and we see increased growth and increased demand in those critical Population Centers and we are proud to serve silicon valley. Thats a story that frankly is not getting out enough. I only read one article about it but i think sometimes you get out there and you have anecdotal evidence that things arent turning. I dont know when people realize it but do y