Transcript
Jim Cramer (0:00)
Meet Venu on the NYSE American Symbol Venu Disrupting a multi billion dollar live music industry, Venu owns and operates upscale music venues, outdoor amphitheaters with seven revenue sources, $166 million in assets Luxury suite sales of $77 million in 2024 $200 million expected in 2025 56% year over year Growth venue on the NYSE American.
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Jim Cramer (0:33)
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Unknown Host (0:35)
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Jim Cramer (1:02)
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Jim Cramer (1:09)
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Jim Cramer (1:21)
My mission is simple. To make you money. I'm here to level the playing field for all investors. Always a bull market somewhere. And I promise to help you find it. Mad Money starts now. Hey, I'm Kramer. Welcome to a special San Francisco edition of Mad Money. Welcome to Kramerica. I'll be with my friends. I'm just trying to help you make some money. My job is not just to entertain, but to explain. So call me at 1-800-743-CNBC or tweet me imkramer. You get some positive earnings, you get some good inflation numbers. Then suddenly you end up with a fantastic day for the bulls. Dow surging 7 and 3 points, S&P jumping 1.83%. The Nasdaq poll voting 2.45%. Lately, there have been a lot of days where I have to come out here and explain how the hidden boogeyman of the bond market crushed stocks. Other days I have to explain to you the concept of beat and raise. How stocks don't go up just because companies beat the earnings estimates. They have to raise their forec. But then there are those rare days, rare perfect days when it all comes together and we try to figure out why this can't happen all of the time. So let's Go over what really happened today and why stocks roared first for two months. We heard that inflation's raging. But when we got the consumer price index numbers this morning, they were fine. Not perfect 3.2% core inflation. But there were so many people betting that the inflation numbers would be horrific, leading to rising bond yields, falling stocks, that it was almost a gimme when we got an in line inflation reading. You could see it coming when everyone's expecting an overheated number. Basically in line one equals success. As an aside, no one doubts that inflation's too high. 3.2% for core inflation is still about a point higher than we're willing to live with. You could argue that inflation is what decided this election. Normally when you get 4% unemployment, the stock market, there's a move, but the incumbents unbeatable, right? But people really hate inflation. It's what crushed Gerald Ford, it's what crushed Jimmy Carter. I don't want to talk politics, but when I saw this morning's earnings and more important, when I talked to the executives who run the institutions that reported today, the banks, there was a palpable sense of optimism about the future, even among those who might know lean democratic. I heard a lot of horror stories today about how the Biden administration so hardcore anti business and that attitude won't miss it. Just today we got news of restrictions on high end semiconductors. Yes, again, again another surprise to the industry that deserves better. And we got restrictions on some biotech equipment sold to China. Thank you. I come back and say what the heck, the clock is ticking people and you guys keep throwing incoherent monkey wrenches at business people who've tried hard to play by the rules which keep changing. They've got less than a week left and they're still pulling this stuff. I don't think there is anyone on TV that is tougher on China than I am. But I'm not going to throttle our companies with lists of who can and who can't get large amounts of semis. We don't do that in this country. We don't pick favorites. And tell Jensen Huang, who is the CEO of Nvidia, here are your countries you can do big businesses and here are the ones you can't. Just so wrong. Just palpably painful and totally off the reservation. But given that this should be a day of celebration of the ownership of equities, I would take a moment to talk about all the obstacles you had to clear in order to get to this point where you could profit from owning stocks. On a great day like this one. First, for months the whole conversation about this market wasn't talking about stocks, was talking about dominated by the bond market, the Fed. But whenever you focus exclusively on what we call macro, you're presuming that CEOs are nothing but statues waiting to get hit, getting torn asunder by powerful forces they can't control. And that my friends, is dead wrong. As we saw for the banks today, the smart ones can make a ton of money in this environment. So I want to urge you not to focus on the Fed had gas bags or the economists who prattle on endlessly about how many rate cuts we might get this year. Not that is a total abstraction. As long as the Fed generally wants rates to go lower, you're fine. The details are not important. It's easy to shoot your mouth off about this stuff, but it doesn't necessarily help anyone making good investing decisions, which is what we do in man money. Stop being scared by them. They are not there to help you. They are not there to help you make money. Second, profits can make a lot of things work. Respect strong profits as they turn into higher stock prices. Third, you may think that the market has thrived under Biden, but much of that strength came from the Magnificent Seven. And the real issues that perplexes the American people is how much more everything costs than it did four years ago. If we can finally beat a rollback inflation, then ordinary people will be as optimistic as the CEOs are now. Under a president who likes to talk to CEOs to see what's going on. Hey, so what you want about this President elect Trump? He's not afraid of a photo op with a farmer, a tech or a fossil fuel CEO. No, you don't mind CEOs? Come on here, let's go like this. So put it all together and you can see that the optimism is indeed contagious. I've been on so many bank conference calls where they we've had positive earnings but then it downbeat through the future didn't happen this time. Which is why you got some tremendous follow through in their stocks. And that follow through may not be over. Remember this, the people who chatter endlessly about interest rates, they are not your friend. They can shake anyone's confidence. Instead you got to keep your eye on the price, how management's doing, the profits to ring up and the belief that you can spend money too, make money. If you were focused on anything else, your money would have been withering in a CD today. Jerry, there's really Only a couple of great days like this one in any given period of time. If you're scared out of the stock market, if someone told you to get out now and you listen to them, especially because of the Fed, I can't help you. Here's the bottom line. All the big gains for the market happen on a handful of days around here. This was one of those days and I sure hope you got a piece of it. Let's take calls. Let's go to Tyler in California. Tyler, hey, big booyah from California. How you doing Jim? Man, you're down the box for me. I'll be there in a snap. What's happening? Speaking of snap, what's your take on Snapchat? With the looming ban of TikTok coming. Well, I sure didn't mean to mention snap in the same breath of snap you want to do. There are so many more companies that are better prepared for this. I'm telling you, I would even go with Meta and by the way, he's jacked and he's got the gun and it's really terrific. I watched that on the Joe Rogan show. So he's got every, every box checked. I say go with Meta. I want to speak to Cheryl, L.A. cheryl. Jim, hi. I want to thank you and your.