Transcripts For CNBC Mad Money 20240621

Hey, chelsea, its brendan. I need your help i am going to propose to morgan and yeah. And i need your help surprising her. Oh, my goodness. I was so excited. Its in everyones interest to have a viewbrant economy. We want to put as many people to work and allow the nation to be strong. And allow people to participate in the profits, and greatness of the greatest country on earth. So when times get tough, they admit that its cumbersome tools, it doesnt have the ability to create jobs cant put people to work that is something only the congress can do of course and of course private enters. What the fed can do is move Interest Rates down where its so cheap to borrow so that it doesnt just Impact Business but everyone. Build things puts more people to work. Now, at the time when the Great Recession was taking hold finance chairman ben bernanke was focusing on the housing economy, even if the other parts of the housing economy were not all that strong. What will the fed did not know was that the Housing Market a ton of jobs were created and a huge amount of debt as the other departments are built and then purchased. The fed raised its shortterm rates between 2003 and 2006 stopping at 2. 5 to cool the Housing Market. Then the fed turned to see what the rapid fire did to the increasing markets. By 2007 it was clear to the important executives on wall street that things were very much awry. This was around the moment when i lost my temper on air to try to get the feds attention with my rant, predicting that many institutions would go under. 7 trillion worth of debt in the house market and the 7 trillion in the fed, well i guess they were just oblivious about the interaction between the fed and the housing economy. They just kind of missed 7 trillion. The debtholders were beginning to panic, i dont want to replay the panic and how many institutions failed but suffice it to say that unemployment skyrocketed. The unemployment was so great, it took the Unemployment Rate to almost 10 by 2010. Fed did everything within its power and some would say exceeded its power by cutting rates next to nothing and then starting to lower more than just the short rate to the traditionally controlled. Fast forward today, we see its working working. Were putting people to work in levels we havent seen in years. The Housing Market has not reached anywhere close to where it was before the Great Recession. The feds have been able to declare victory and move on from its intent to keep the historically low rates historically low. So where does the stock market come in . Lets count the rates. The fed was able to stimulate to allow people to recover from higher levels than they did the Great Recession. Remember we are a consumer land in this economy, meaning two thirds of the economy revolves around spending, not the exploitation of the raw goods. Sure, that is a huge part of the economy but not as important as spending. So lower rates allow consumers to spend on homes and of course on themselves. Of course the stronger economy helped with the higher industries and for the people who cater to them. Not bad, the number of autos sold in the country almost doubled from the time of the Great Recession. And while home sales did not spring, there was lots of home spending. They did much including the growth in the economy, nonresidential or nonressy as we call it in the construction. These portions of the economy and the stocks of companies have benefitted for the most part went higher. Because the fed kept Interest Rates down that allowed the corporations to issue debt and more importantly take over other countries. Led to a major boom, the major boom cant be underestimated because it raises the stocks. The cohorts were many. There was more income than the treasury could throw off, there were increasing amounts to the extent that historically the price of the money, the actual rate was way too low to be justified by any lower term picture of the economy. No matter people always reach for yield and it always ends up badly. Others reached for what we call bond market equivalence, these stocks, many of which i liked, joined with the partnerships of oil and gas and became much sought after as never before. The individuals estimated some income in order to be able to make money with their money. That is the mantra of mad money. The old certificates of deposits rolled over new ones were next to nothing. It was not until oil prices were suddenly cut in half by an increase in production that increased dramatically because of our technology and the employment and wage gains made it so that the feds could at last declare victory. The bottom line the feds found its job as best as it can and now the regular economy takes over. What does it mean . Well, if you want to know what it means for the stock market you stay tuned to find out. I want to start with garrett in texas, hey, garrett. Hey, jim, another hook em horns, booyah . I was curious with the rate hike looking nearly ifnevitable if there were stocks that performed better after the infrastructure. We know that j. P. Morgan makes a ton of money after the rate goes higher. That includes a ton of banks, if youre so inclined and dont want individual stock risks. But the major banks in this country are the major beneficiaries. Glenn, in illinois, glenn . Caller jim, booyah from chicago. The changes as well as the bears, bulls, white sox. Go ahead, blackhawks. Caller i have a simple question for you, jim, for the Retail Investor what for a person who is either buying or selling stock what is your thought on using market orders as opposed to a limit or a stock watch we should get someone else to help us run money, we have to be handson about our money or else let professionals take care of it. We do not use stop watches. You either watch the market if youre involved in it or you need help or just go for an index fund all are okay with me. You have to know your own suitability. Thank you, now the regular economy is in control. Our focus, theyre thought going to get anywhere else we continue ahead with the consequences that are coming from both the market and the economy as a whole. What does it mean for you . Plus, two things to walk away from as wall street gets tough, and the changes you need to make with your money right now. Dont miss it, mad money will be right back. Follow mad money jimcramer on twitter, send jim an email to madmoney cnbc. Com. Or give us a call. Miss something . Head to madmoney cnbc. Com. Hp instant ink can save you up to 50 on ink delivered to your door so print all you want and never run out. Plans start at 2. 99 a month. Right now, buy an eligible printer and get three months of free ink with hp instant ink. Available at participating retailers. The most affordable way to print. Hp instant ink. Now that the fed has declared victory over the war against unemployment, we recognize that there are consequences both with the real economy and the stock market. They are two very different animals despite what you may hear from many commentators. Plus the road to go down when the job is so plentiful, unfortunately, you dont understand with history, you may have a great grasp on a longer term picture. It is indeed good that the jobs are better that the economy is doing better. Unfortunately, some feel that way, let me tell you why i dont agree with it. First, many believe that the economy has rallied because of easy money, they believe that once the stocks start to tighten in even the smallest amount then the stock market must come down hard because it has been propped up by the fed for so long. These people are presuming factors that i think may not be set. Number one, they think that the stocks will up load the market because the stocks have been used for surrogate income. I dont agree with this view think about it rates are so low that even with the multiple rate increases, there are still going to be more attractive versus bonds, in the shortterm second, the economy will succumb immediately with the increase in rates. I know it seems irrational but we have seen this whole economy any time we get a below average labor, from the unemployment here on, we hear that the fed reacted too soon or was being too aggressive in the rate increases. I disagrees. The dollar will get stronger and a strong dollar is terrible for exporters both in terms of translation, when they calculate the sales overseas that dont add up to as many dollars as domestic sells, and in terms of lost goods. If you dont want this always remember, the foreign auto cars do better when the dollar is stronger. Now, all of these kind of to a degree can be argued they have creeks think about the last fed and the cycle, winning out 17 times over multiple years. If you sold all stocks when the rate increased you missed out. That is really important, you missed out on tremendous games, although you did have to sell or you would have lost portions. So inherently how a cycle led to a cessation in business and a decline in stocks they will simply sell sell sell i will describe to you later in the show what really happens, when you understand that the tightening in history will always spook people out of stocks too soon. Always, it will happen this time over and over. How about the actual economy, rates are again so low that you need to see rate increases that take rates much, much higher than they are now, to see a genuine decline in the rate of growth in business. Not initially, but only if the fed is really strong the u. S. Economy once it starts humming is difficult to stop. We have had tremendous growth in this country with 4 or 5 or even 6 growth rate. So stop freaking out, i dont think you have to sweat the smaller increases. However, it is not enough for those to think it will go on auto pilot, and raise the rates. People dont trust them. This Federal Reserve is telling you its very data dependent. Im not concerned well return to the old days of the greenspan fed. Where they just kept coming and coming, i think those days are over. Once again, many dont trust the fed to do the right thing. I am very concerned in the short term it will make the magnet for around the globe. The lower rate environments you would much rather go by our dollars and take them that will keep jacking up the value of the dollar to the point that all of our exporters will be hurt. It is a real and genuine concern, its one im very on the fence about in terms of how i feel confident is the right course of action, a lot of it will determine when the economy gets better. Most wealthy people and pension funds, they prefer not to have to buy u. S. Dollars and bonds most importantly, i dont want you to think for a second that the fed is raising rates. It can be better at times for some parts of the stock market but i cut my teeth watching. And he would introduce you to some of the greatest minds, in fact at all times if you stay negative even if you thought the fed would never succeed in getting a Strong Economy you would lose money, you would perform much less than the overall market. As we know from this amazing rate cut, they prevailed the whole time the feds resolve, and there were many many who thought that the fed was just a waste. Meaning it couldnt impact the real economy. They ended up being dead wrong. They were run over by the tape but the buyers swarmed in and bought every single dip when the market was going down every single one, and each time they made money even if it seemed too good to be true. Now, when you buy stocks right now, and when the feds raise them, what can i say . You are violating, youre fighting the fed. Rates that go up because Business Activity is good can be a positive for many sectors. But we no longer have the fed wind at our backs, to not acknowledge is to be a fool. So here is the bottom line while i do not expect any of them were disastrous scenarios to pan out, i do know that the fed is the enemy of higher stock prices and it can be a powerful enemy if it doesnt watch how fast it raises rates. Or employment numbers from now on through the duration of the upswing. Still ahead, on mad money when the fed moves what do you do for yourself, well form a game plan when to buy and sell then the stocks can actually succeed in a rising rate value send your tweets to jim cramer. Mad money will be right back. At chase, we celebrate Small Businesses every day through programs like mission main street grants. Last years grant recipients are achieving amazing things. Carving a name for myself and creating local jobs. Creating more programs for these little bookworms. Bringing a taste of louisiana to the world. At chase, were proud to support our grant recipients and Small Businesses like yours. So you can take the next big step. You probably know xerox as the company thats all about printing. But did you know we also support hospitals using Electronic Health records for more than 30 million patients . Or that our Software Helps over 20 million smartphone users remotely configure email every month . Or how about processing nearly 5 billion in electronic toll payments a year . In fact, todays xerox is working in surprising ways to help companies simplify the way work gets done and life gets lived. With xerox, youre ready for real business. When there are questions about how a stronger economy can have negative problems and how federal rate reserves can derail a better stock market. We accept the idea you should not fight the fed. If it really starts raising rates hard. That said the Historical Rate needs the lows the additional economy may be slight even if we have some economies that may be hurt by a strong dollar and some stocks that could be hurt by a stronger bond competition, and yes housing will be hurt. Two ways first is a broader question about stocks in general and then we get into the specifics of what stocks do and dont work. First, lets think about why we should own stocks to begin with. That is the more logical question, why not just turn me off, turn everything off, while we know that stocks are the fabulous generators of wealth there are times where it has been fabulous which is why we have to keep doing so. Remember, this is a show about the stock market and how to invest in it. We think the main way to do that is own an index fund. People are always shocked if i say this i have been saying it for years. Only if you build up a sizeable position relevant to your paycheck and indepth work should you attempt to buy stockingsstock stocks, and if you get help from professionals as i outlined in my books, you can follow along, i dont want you buying individual stocks. Wow, im going to repeat that because it is just so wild. I dont want you buying individual stocks. This is not a show about finding the stock of the new millennium and finding a new stock every day. It explains how you can figure it out. Hopefully without my help. We know that it is not now healthy we know that it is not healthy at all times with stocks. That is just true i famously went out to urge you to sell stocks at all times, then you had to get back in after the generational bottom was reached. That is the hanes bottom for the late mark hanes, who said enough is enough. I went with hanes, always difficulty it is important why i told you to go with stocks in the first place. Systemic risk to the economy and the stock market. I just didnt believe it was worth it to own stocks when the fate of the whole Banking System was being debated in washington. And people talk about nationalizing all the banks and they were taken seriously. It just was too dangerous to open anything but cash in a systemic situation. We had to worry if the atms would work and the companies you worked for would go under. I was worried. We were right to worry. Apparently the fed is raising rates is not the fed is trying to slow down the economy before we get a bout of inflation. Right now its not in the foreseeable future. You take Systemic Risks off the table and should not try to time the market per se and get in and out ahead of it. That is nonsense you should be using it to buy the stocks at prices and companies you want. However, fed policies do matter. You want to be aware that going into every fed meeting from now on there will be an unholy volatility that could be worse than the aftermath of even the meeting where tightening is announced. Both before and after the meeting may be a good time to do some buying. Similarly if you were going to commit money to retirement seemingly you could get flexibility before you put the money to work. You may want to attend a fed meeting before you put all of your money in at once. Notice, the bad damage comes from the fed meeting that is how it always works. At a time when rates rise you get a better chance to get income in a safer way with less risk. Now for the younger people watching it should be nothing to you. You should go about investing the way you always invest. You have your whole life ahead of you, older people be aware of the higher rates where you can expect the bond and bond funds you were currently in. As well as stock funds and equivalent you can take hits. I would make changes now to the allocation allocations. Longterm bonds will give you a better entry point years down the road if the economy stays strong, in the end it could lose money, those that bought Corporate Bonds by 2015 the absurdly low rates before we call long data paper. The bonds going around ten years, should sell them and now. You reach free yield, shame on you, and just like the people who reached for free yield in 2006 and seven, i dont want you to lose money. I dont care if you have losses theyre going to get worse. The consumer package good stocks with 3 yields, make sure you like these stocks away from the yields because these stocks are going to be overvalued and under pressure. Make sure you like the company itself. You own a piece of it. How do we know this is going to happen . Because it always happens. And the Interest Rate risings that go so low there will be many people trying to jump the gun and get out. Dont forget the stocks are richly valued overall both historically and relative to other stocks. Not because of the growth categories which makes them less valuable as the cycle goes on not all is lost while those stocks do not do well there is a whole group of others that benefit. That is the financials. Theyre 18 of the entire market. The utilities and packaged goods combined, remember the banks kind of really underperformed for the last decade. Because of the principal sources of income it has not earned much money for them at all. People love banks for the earnings, not for the fee income, but there has not been any kind of riskfree income for a long time. Now they will start to get return and that will swell their bottom line. Interest companies will see the rates go up from their bond portfolios. You are seeing the bond stocks into the financial stocks any time we get information, to the employment numbers or every time we get a hike, there will be instant analysis more than raisings are going to happen. Every time you get a raise in the fed funds rate youre going to get raises in the estimates for banks. And raising estimates is the more market. There is no Systemic Risk to the u. S. Economy. You need to be more sensitive to the timing of your bond and if youre just in them for yields and go into them for financials that directly benefit going forward. Dont be afraid to take money off the table and dont be afraid to take losses. The first loss is your best loss. Mississippi, pete . Caller hey, good to final talk to you. Good to talk to you, what is up . Caller okay my question is what is your take on etfs versus i like to think i can pick the best stocks in etf, were given brains to look at that. Some people think it is too hard, i dont want to individual stock risk they call it a risk to me youre owning a company and the company is not a stock, its just that youre buying a piece of paper that is a share in a company. A lot of etfs make people feel more comfortable, they dont make me feel more comfortable, but i say to each his own. Kevin in minnesota. Caller hello, cramer canadian booyah love your show i see it every day, in case i miss it i have a dvr at home. Excellent, thank you very much. Caller my question is after hours trading i have been dialing in on the corporate Conference Calls as you stated in your book get rich carefully. The stocks going up or down depending on the news how can this happen if the u. S. Markets are closed for trading or is it more of a gauge how the market will rackeact with pebtup demand or orders . No there is always somebody willing to do a trade. Unless there is an official trading halt everything can trade and there can be buyers and sellers looking for each other at all times. Hey, cramer when rates go higher, i dont want you to freak out. Be more keyed into timing and what you buy and sell. Still ahead on mad money, a potential pit fall in case the feds ramp up. Ill clue you in. Jim cramer plus a piece of the strategy back in my hedge fund. I have not covered it all in this show. That has been wrong until now. Stay with cramer. [container door opening] what makes it an suv is what you can get into it. [container door closing] what makes it an nx is what you can get out of it. Introducing the firstever lexus nx turbo and hybrid. Once you go beyond utility theres no going back. Weve now gone over why we can expect that the stock market will be choppier rates rise more than when they fell. But there are still plenty of good opportunities out there because there is no Systemic Risk at hand and Many Companies go higher when the rates go higher. But how about the overall market . What happens when the economy generally does get better away from rates . In order, what companies have stocks that do better when the economy does better despite higher Interest Rates . Welcome to the world of intense rotations which have already begun, the fed signalled in 2014 that things were getting too good to stay accommodative. And the rates will improve year over year because the economy is getting better. Remember how we look at stocks how does this quarter compare over last quarter . However, these are not normal times. The Big Industrial companies that would be the goto companies have become too dependent on the overseas companies. Think about it like this. Europe is getting stronger, but not so fast as to make it so it can generate enough upside to most companies doing business there. China, while growing a great deal is slowing in its rate of growth. But other areas like latin america seem to become an overall drag on growth and some of these Companies Just make me feel like theyre going away. So the tried and true method overseas, unless that business is part of a larger cycle, like say the aerospace cycle, which is getting plans to meet the demand. We have to be extra careful to be sure what used to be make his automatic trades, real money, doesnt work like that anymore. It means we have to be careful buying Tech Companies with exposure in europe. Many do because their economies have not picked up quicker like they have in the past. The stronger dollar will become we seek our dollar from bonds and capital depreciation, so what will work . Chiefly u. S. Industrials, high Growth Stocks that are not dependent for the economy to do well and restaurants and retailers that have benefitted from growth already and Lower Energy Costs that have meant so much to their bottom line. These will be in fits and starts and there will be questions once the fed tightens, that is okay people just get gloomier and more pessimistic, that is just history. The bargains are created there. So how does this play out in the real day to day market . Simple. Well many threeday selloffs in the future. That is what i predict. Only piece of news that could incite a rate hike as the Growth Market sells off and mutual funds blowing you out of the s p, of course selling the futures and selling the futures and just crushing the stocks. Now, here is the big switch. On day two when the fed was on the bull side you had to start buying the bond market or the stocks with the higher yield. That will no longer be the case. Now the money is going to gravitate to the banks regardless of the fed and rate hikes. While the housing move never really got off the ground housing stocks will give every single rate increase because it will cost more. The earnings and estimates will be slashed. The higher the employment mitigates the rates, higher wages than future may help that as well as more job security and second jobs that are more plentiful. Overall, the markets entire price tends to take a hit when rates go up, that is true for different reasons. Whenever were concerned that the feds will tighten too quickly you will hear a lot of talk about this or that may be the peak earnings quarter or that the entire market may be in peak earnings mode. That always forces down the rates for the entire s p 500. Second the price earnings will be lower because people will be worried about inflation, why would the fed be raising rates . I know it sounds odd at a time when countries around the world are cutting rates to spur growth but believe me there will be plenty of people who see inflation coming and others who say the fed is behind the curve. You will hear behind the curve because it did not tighten fast enough. Those are people who will be on air constantly, well have to hold our breaths because well be hearing well get an instant fed increase. We also hear talk about buying gold. I expect it will be something to talk about, especially when the gold insurance policy kicks in and that insurance policy has been a real drag for a very long time. It retains its purchasing power at a time when paper money loses it. If investors think gold is coming they will invest. There is one issue with gold you may want to keep in mind gold has been in the bear market for so long. Do not have the money to continue to find gold. Others may not even be able to make it unless they merge. With the sole exception of ran gold i would not trust any of the gold miners, i would go stringily with rangold or probably best of all, gold boullion, you have to start it in the deposit box. That said i recognize so much activity was spurred with lower rates beginning with the turn of 2015 it is reasonable to think you will hear a lot more about inflation than now. It will be louder from some managers who are making bets against the stock market they fear a rise in the market they will not tell you that. But that is what always happens, the bears portray whatever is negative in the worst possible light and scare you into think it is the end of the world. Now it will be too strong and the feds lost control. But dont worry, ill be in there to try to rein them in and cool emotions. They will be as loud mouthed and as righteous and as bullish as usual. Admitting they are just being political. Here is the bottom line you want to work towards more economically stronger stocks and it may not do well because of weaker overseas markets while gold may once again shine and come in vogue as inflation talk will permeate the air waves, endlessly going forward. Stay with cramer. The pursuit of healthier. It begins from the second were born. After all, healthier doesnt happen all by itself. It needs to be earned. Every day. Using wellness to keep away illness. And believing that a single life can be made better by millions of others. Healthier takes somebody who can power modern health care. By connecting every single part of it. For as the world keeps on searching for healthier. Were here to make healthier happen. Optum. Healthier is here. So we know this market is going to change its coloration. We know well be fighting the feds. Well haveocateing capital when we do it and bonds will be sold. Those can be very very dangerous maybe then we should just cover the topic that i know many of you may be thinking given that fighting the fed can be very difficult, real tough job, even though a better economy will produce better profits. So this is something i never talk about. Lets cover short selling. Now, i never recommend a short sell. I may not like the company, but i wont bet against it. I cant use puts. But you know what . When i was at the hedge fund where karen cramer was, yes, the shortage got us. It was her strength she loved the short side and hated the long side. Here is what i will do a long long time ago she wrote shortselling rules to live by. I dug them up and will give them to you. Not much commentary just straight out. They are timeless even if some of the examples now seem a tad quaint. Rule number one has a bit of dust on it. She called it the business week cover rule. At the time, they jumped to move stocks always often features stocks on their covers. She had a rule never short a company that you could match and it would be on the cover of a great publication. I have used this rule never short a best company, why bother to short a company that is standout just because youre hearing a negative story move on. Find Something Better to do with your time. Rule number two, ask yourself can the company be taken over . If it cant, dont short it. In my mind i was short three takeover targets. The tech part pattern like when we do off the chart. The ones with the fundamentals, turned out to be disasters. One case it was a total loss. The third, i guess they didnt care about the technicals. In at three cases i could have guessed that i could have guessed that a takeover could have occurred. There were rumors sometimes its just too risky to bet against even the Worst Companies if you think that somebody is stupid enough to buy them and there are a lot of stupid acquirers. Never short a stock because it seems like its overvalued. Ill say it again, never short a stock because you think its overvalued. Never call a rational top there will always be some mutual funds out there that will keep the ball in the air and crush you for longer than you can take it. Some stocks seem expensive and then grow in the markets, like chipotle. Others get more expensive because they fit the demands of the wall street fashion show. Still others have no earnings but get bit anyway it doesnt matter if you think something is too expensive. Beautyiy is in the eye of the beholder or the buyer for that matter. Wow, those were horrendous. Rule number four never actually use common stocks to short if puts are available. If you dont know how to work options i have a simple way to explain it in real money. Puts will keep you from being bought in, meaning their Brokerage House cant demand a stock without your consent. That is something that happened before. If you dont understand what the boughtin concept is i need you to check in with your broker. Go read the confessions of a street act where i tell you how it hurt me yes, for hundreds of thousands of dollars. If youre sure something is going down but not sure when its going down use deep in the money in puts you will never again play the extra vid to go out in time. Stocks stay up longer than you think and a lot longer than you should. Never be part of the tackle short. I can tell you, you will be a dead man. They will break ranks if things get tough. Karen always asks me does anyone have this call . Or worse, does everyone have this call . If the answer is yes, then the answer is no. There is way too much risk that it can blow up in everyones faces and destroy your timehonored loveable trade. Finally, she taught me a very key lesson for new sharper traders and Hedge Fund Managers out there. It is not cool to short. Karen sold short for a living it can be extremely rewarding when youre right. And my numbingly painful, when truly novacainefree when youre wrong. There is nothing beautifully intelligent about shorting. Hedge Fund Managers like to brag about their shorts thinking it truly distinguishes them as brilliant, rigorous thinkers, and intense thinkers. No, karen would say same as going long except you cant quantify the short sellers. If you think the market will go down a lot and youre concerned sell some stocks. Raise cash trim your stocks rate them. Rate them we do it at actionorders plus. Com. We decide which ones you dont want to keep when things get tough and rate them on fridays, one, two, three, four. As low as the fed was cutting rates at least for long although the government periodically fought to make the cash. The market is getting more difficult because you dont know when the fed will act again. So why not build a bigger reserve. Believe me each time the fed raises rates you will be able to put it to good use. Its always like that. But you will have to put it to use, because as you learned tonight there are plenty of places that could be in them. Bottom line i know you might be im just begging you to realize there is substantially more downside and you must be more disciplined if youre going to pull it off. Much better to raise cash and be ready to spoideploy the cash in the next downturn as the fed, alas is no longer your friend. Stay with cramer. Hey, you know i love the tweet but i also love to talk so lets step away from the phone and answer some of your tweets without the 140character limit. Lets get to it. Wondering, what is the price to earnings ratio to find out if stock is cheap . If a Company Sells at multiples much lower than the average stock at s p i think you may have a bargain. Here is at futures, 1978 who is wondering jimcramer, enough to dance at the bar in coyote ugly only if you get the music blasting and lisa doesnt fall from the bar, just kidding. Next oh, is at tiffany dunn, stay with cramer. Through programs like mission main street grants. Last years grant recipients are achieving amazing things. Carving a name for myself and creating local jobs. Creating more programs for these little bookworms. Bringing a taste of louisiana to the world. At chase, were proud to support our grant recipients and Small Businesses like yours. So you can take the next big step. Hey, what are you doing . You said you were going to find out about plenti, the new rewards program. I did. In fact, im earning plenti points right now. But youre not doing anything right now. Lily . Hes right. Sign up, and you could earn plenti points just for being a wireless customer. In the meantime, i just kick back and watch the points roll in. Where did you get those noodles . At t cafeteria. You mean the break room. At t the only wireless carrier to be a part of plenti now when you add a new phone line to your wireless plan you get 5,000 plenti points to use in lots of places. singing you wouldnt haul a load without checking your clearance. So why would you invest without checking brokercheck . Check your broker with brokercheck. You probably know xerox as the company thats all about printing. But did you know we also support hospitals using Electronic Health records for more than 30 million patients . Or that our Software Helps over 20 million smartphone users remotely configure email every month . Or how about processing nearly 5 billion in electronic toll payments a year . In fact, todays xerox is working in surprising ways to help companies simplify the way work gets done and life gets lived. With xerox, youre ready for real business. Mr. Cramer absolutely love the show. We really appreciate you out there, man. Booyah thank you so much. Booyah mr. Cramer. I know you hear this all the time, jim, but thank you, thank you, thank you so much. This has been my best year by far and away in the market. I just want to thank you you know for looking out for the regular guys out there. Im trying to teach people to do their darn best. That is the goal here. Great to hear your voice and know that youre there for us. Dont fight the fed, dont fight the tape. Like i say, there is always more promise. Right here on mad money, im jim cramer and ill see you next time narrator in this episode of american greed. Homebuilding giant bill erpenbeck promises he can put you in your dream home. We looked at every model home, and then when we found this one, of course, this is perfect. Narrator but when he diverts 34 million worth of mortgage payments into his companys bank account, the dreams become nightmares. When you bring it down to just its basics, its just pure stupidity. Its pure theft. Narrator so when hundreds of homebuyers are left in danger of losing their homes, dont expect any of them to shed a tear for bill erpenbeck. I cant imagine the fear that all of them had, and i realize that thats my responsibility