Mad Money w/ Jim Cramer – Episode Summary (11/13/25)
Main Theme & Purpose
Jim Cramer delivers a post-selloff analysis on Wall Street’s evolving landscape, warning of a shakeout similar to the dot-com bust. He announces the end of what he has called the “Year of Magical Investing,” especially in speculative tech, data center, and AI stocks, and urges caution. The episode features interviews with leading executives (e.g., TKO Group, Cotera Energy), audience Q&A during the Lightning Round, and commentary on current macroeconomic and market trends.
Episode Breakdown
1. Jim Cramer’s Market Caution & the End of Magical Investing
[01:38 - 09:30]
- Market Selloff Context:
- Major indices fell sharply (Dow -798 points, S&P -1.66%, Nasdaq -2.29%).
- Speculative tech, data center, and especially AI stocks suffered the most.
- Cramer’s Major Shift:
- Declares "Year of Magical Investing" over:
“Earlier this week though, and what I admit is a very big change for me, I pulled the plug on the year of magical investing. I pronounced it over. Dead.” (02:12)
- Declares "Year of Magical Investing" over:
- Dot-Com Parallels:
- Warns of “mania” reminiscent of 2000, citing insider selling, speculative fundraising, and operations with little to no revenue.
- Case comparisons:
- Cisco in 2000 vs. 2025 (referencing CEO Chuck Robbins’ comments about tech transitions speeding up but with stronger companies now).
- Risks Identified:
- OpenAI’s aggressive spending and potential need for government backstops echoes “too big to fail” narratives.
- Insider selling prominent; especially wary of AI-related, quantum computing, alternative power, and crypto companies.
- Example Story:
- Bit Deer Technologies' stock plunge after raising funds mirrors 2000’s desperate financings (stock down ~60% since October, [06:50]).
- Cramer’s verdict:
“We’re now in shakeout mode... until OpenAI comes public and raises tens of billions of dollars... the year of Magical Investing isn’t going to restart anytime soon.” (08:50)
- Strategy Advice:
- Stick to well-capitalized, profitable AI/data center leaders (e.g. Magnificent Seven).
- Diversify holdings to avoid “all eggs in one Bit Deer like basket.”
2. Lightning Round Preview and Stock Q&A
[09:37 - 12:00]
- On Semiconductor (Caller John, Connecticut):
- “I can’t be there... those are two end markets [auto, industrial] that I think are the most challenged end markets. I don’t want to be there.” (09:55)
- Celestica (Caller Dave, Illinois):
- Still a good company despite big drop, likely targeted selling.
- No known company-specific news; recommends patience but suggests further near-term weakness is possible.
3. TKO Group Holdings (Interview with Ari Emanuel & Mark Shapiro, TKO Group)
[14:18 - 22:45]
- Company Profile:
- TKO owns UFC, WWE, and bull riding, among other ventures.
- Strong, recurring revenue streams:
- 70% of audience is international; $15B in domestic deals locked in over 5-10 years.
- UFC’s seven-year, $7.7B deal with Paramount.
- Growing international and partnership revenue (e.g., PolyMarket technology integration embedding live event interaction, [16:29]).
- Growth & Engagement:
- “Our sponsorship team will do 450 [million] this year, way up on WWE and probably by 2030... a billion dollars.” (15:36)
- Multi-channel revenue: sponsorships, international TV rights, live event site fees.
- Audience engagement with new tech (IBM/AI, Crypto.com, Meta, PolyMarket, [17:41]).
- Financial Discipline:
- “We are committed to a long term sustainable program... [Dividend] doubled mid-year... shareholder buyback... stock is up 70% since the IPO... focused on returning cash flow to our shareholders.” (20:55)
- Key Quote:
“We're live, we're sports, we’re global. You don't have to wait till 2030 with OpenAI to be profitable and make money. Like we're doing it right now.” (21:35)
- Sports & Spectacle:
- Promoting new focus on boxing and major upcoming events (e.g., White House lawn event, “the most watched sport event”, June 14th).
- “We have fighters lining up. They'll pay us to come fight.” (22:27)
4. The Experiential Economy – Is the Party Over?
[24:42 - 33:30]
- Theme Recap:
- Since COVID, consumers favored spending on experiences (travel, dining, events) over goods.
- Warning Signs:
- Weak labor market data (ADP report: negative job growth).
- Fast-casual chains (Chipotle, Kava, Sweetgreen) all missed expectations due to younger customers dining out less.
- Cruise lines fell after softer outlooks (Royal Caribbean down 20%, Norwegian 16%).
- Live Nation stock plunged on earnings/data miss; Ticketmaster profitability also under pressure.
- StubHub, recently IPO’d, is down 20%+.
- Even Disney’s experience division flagged near-term softness (parks, cruises), stock down ~8%.
- Mixed Picture:
- Some bright spots (American Express travel still up, TKO Group strength), but overall trend negative.
- Bottom Line:
“For now, I'm a lot more worried about the experiential economy than I was a month ago, thanks to a combination of weaker macro data and some discouraging earnings reports.” (33:05–33:19)
5. Kotara Energy Interview – Natural Gas Resilience
[33:31 - 39:39]
- Natural Gas Market:
- CEO Tom Jordan: “Natural gas is strengthening because of fundamental factors including the demand for electricity, growing LNG exports...reawakened understanding that it has to be a significant part of our energy mix.” (33:58)
- Supply/demand: Market may see temporary oversupply, but long-term demand strong.
- Activist Letter from Kimmeridge:
- Kotara open to ideas, but disappointed by public release without prior contact.
- Focus remains on optimizing assets, cash flow, buybacks.
“Our fans make us feel good, our critics make us better and we're all about getting better.” (39:02)
6. Lightning Round – Audience Stock Advice
[39:58 - 43:50]
- ServiceNow: Hold for long term, strong fundamentals.
“The fundamentals are very good... Bill McDermott knows how to run a real good company.” (40:20)
- Carmax: Avoid due to CEO departure and poor sector prospects.
- Conagra Brands: Avoid, “I do not invest in companies that have flat revenues for multiple years.” (42:35)
- LAM Research: “Lam is a better company [than Applied Materials]. Wait for a pullback to nibble.” (43:09)
7. Closing Macro Segment – Hiring, AI, and Fed Policy
[44:12 - 47:39]
- Layoffs & Labor Market:
- High-profile layoffs (Verizon, Amazon, Target, UPS, Applied Materials, etc).
- AI and automation taking over roles—growing “hiring freeze.”
- Technology’s Role:
- Companies hesitant to hire ahead of Nvidia’s new generation chip launch (Vera Rubin).
- Automation and AI (“Agent Force” by Salesforce) replacing clerical work.
- Other Risks:
- Ongoing inflation and lack of macro data post-government shutdown; uncertainty on Fed rate cuts.
- Wild Card:
- Supreme Court tariff case could have major impact on inflation/rates if tariffs ruled illegal.
- “If the Supreme Court axes the tariffs...Fed will be free to cut rates, which is what we desperately need.” (46:29)
- Cramer’s Classic Wrap:
“There's always a bull market somewhere and I promise trying to find it just for you right here.” (47:25)
Notable Quotes & Memorable Moments
- “I know a mania when I see one, and this one feels like it’s starting to unwind.”
- Jim Cramer [02:44]
- “OpenAI has indeed I think, become too big to fail. It’s just that nobody’s willing to say it.”
- Jim Cramer [05:57]
- “We’re now in shakeout mode. Because of days like today investors will grow skittish about funding money losers...”
- Jim Cramer [07:52]
- “You don’t have to wait till 2030 with OpenAI to be profitable and make money. Like we’re doing it right now.”
- Mark Shapiro, TKO Group [21:35]
- “For now, I’m a lot more worried about the experiential economy than I was a month ago, thanks to...weaker macro data and some discouraging earnings reports.”
- Jim Cramer [33:05]
- “Our fans make us feel good, our critics make us better, and we’re all about getting better.”
- Tom Jordan, Cotera Energy [39:02]
Key Timestamps for Major Segments
- 01:38 – Cramer’s state of the market; end of “Year of Magical Investing”
- 14:18 – TKO Group interview: sports, media, and revenue growth
- 24:42 – Is the experiential economy done?
- 33:31 – Cotera Energy CEO interview: natural gas outlook
- 39:58 – Lightning Round: stock Q&A
- 44:12 – Closing macro commentary: tech layoffs, AI, Fed
Tone & Style
Cramer remains characteristically fiery, blunt, and cautionary, mixing humor and market nostalgia (“Stephen King book” analogy, 08:55) with actionable insight. The interviews feature energetic, confident executives, counterpointed by Cramer’s continuous reminder to focus on profitability and risk management.
This summary provides a comprehensive overview of key discussions, quotes, and themes for listeners who want the episode’s core content and analysis, with timestamps for easy reference.