Transcript
Bank of America Representative (0:00)
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Homes.com Representative (0:29)
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Jim Cramer (1:22)
My mission is simple to make you money. I'm here to level the playing field for all investors. There's always a bull market somewhere and I promise to help you find it. Mad Money starts now. Hey, I'm Kramer. Welcome to Mad Money. Welcome to Crame America. I've been with my friends. Let's try and make a little money. My job is us to entertain, but to educate and teach the combat 1873 CBC. Tweet me Jim Cramer now you may think of the NFL's big game as a contest among great teams in the gridiron test of wills was only one winner for the Lombardi Trophy. You know I feel about that. Yet I'm always struck by how the event draws CEOs like flies to honey. It's impossible not to notice even when the Eels come home with a resounding victory. Go birds. The CEOs are all there. Especially when the games in New Orleans. Which is why on a day when it took a shocking late day rally to finish a positive territory. Dow rising 10 points. SB gaining.24% NASDAQ advancing.07% I want to talk about what I heard at the beginning, what people are worried about and how those concerns are colored in your decisions and your stocks. I'm not overlooking what happened in the bizarrely positive close today by any means. I am saying that there did seem to be a gigantic program money switching out of momentum into classic growth and it gained speed in the last few minutes of trading, taking the S and P to a record high. But it seems suspicious and I didn't like the way it happened. Now back to what matters. These CEOs I talk to most of them are not political. They tend to be somewhat old fashioned. Mitt Romney, Republicans, Bill Clinton, Democrats. They can remember a time when there was a lot less vitro in Washington, a lot of love, more teamwork. And they loved that they didn't really fit into the current environment. So they dismissed Washington as much as possible, focusing on their knitting. So what are their views on the current situation? Well, let me give you a distilled version called Sanitize. I'm going to limit it to business because while I too am sicken to my knitting, this is after all a business show. First, nobody, I mean nobody can figure out Donald Trump. These CEOs are baffled. They're confused. They mostly like like that he's attacking the federal bureaucracy and not the deep state. They don't call it that the bureaucracy. And they like that Elon Musk is doing it for him. While almost everyone caveat they had personal views actually at odds with Musk, they universally respected him as a business person. Bus fascinates them as much as the seeds fascinates the media is fascinated by. They are adamant that if anyone can succeed in cutting the fact, it's Musk. They all want him to take on the entitlements, Medicare, Medicaid, Social Security. And they want him to cut out budget. The, the waste in the defense budget, let's call it that, because they think there's a lot of waste there and that's because of a lack of competition among the defense contractors. They don't know why Musk is wasting his time on the small stuff. It makes no sense to them too. They all hate Trump's tariff plans. They do. These CEOs think that they're disorganized, make the real sense, won't raise any money and are real bad for business. Now, given my acknowledged and outspoken support for some of these tariffs, especially the ones that keep Chinese steel say out of the country by shutting it down the Mexican border, I thought they might tone down their criticisms, but nope, they're free traders at heart and are totally befuddled by Trump's tariff agenda. I said we should putting tariffs even on South Korean and Japanese cars that are imported here. And they just. That just provoked more skepticism. Look, I'm not a globalist. They're globalists. 3. There are admitted there's been a shocking amount of new business going on in this country. They all admit that. And to them it's just sort of a wicked witch is dead mentality because business people no longer feel that the government is out to get them. There was a palpable dislike of the last administration's policies. Even among the Democrats. They still can't believe how disrespected they were by the Biden White House. And that includes many big Democratic donors I spoke to. They all thought that the previous administration viewed them as rapacious capitalists even when they had ideas that might work to slow inflation. It was so grim, so gratuitous on the part of Biden. Although many now question whether Biden himself even knows what was happening News. Real bad news for the Democratic candidates of the future. I was struck by that. For even though today the head of the FTC and the Justice Department said they would stand by the doctrine of the previous administration comes to antitrust, something sounds as onerous and ominous as it gets, right? These CEOs aren't really worried. Why? Because they know the new regulators won't be as dismissive as the old ones. They won't be hit by lawsuits out of left field. They'll be able to talk to defend themselves before going everything goes fluid. They believe there will be some respect between them and the regulators. They look forward to constructive dialogue even if the regulars end up siding against him. They despise the needlessly adversarial nature of both justice and the FTC under Biden. They've got me convinced that they're right. Absolutely. 5. They all want to know about Nvidia. They're shocked at how this company came from nowhere. Now Jensen Wong became king. I always say the same thing. He didn't come out of nowhere. He's been laboring for years and years and years. It's just now paying off. They were shocked at how the media portrayed the Chinese as being well ahead of Invader, even though Metta, Amazon, Tesla, Alpiti keep ordering billions of dollars worth of video technology. Do you think that these titans didn't know about Deep Seek and they bought anyway? Give me a break. That was their only conclusion now there, it's just funny the way things go. They talked about video, the dog, my dog. That's because they're in awe of Jensen. They regard him as the classic American success story and they're cheering for him. They all wish they bought the stock 6. They think is real, but they really haven't figured out how to use it to save money, make the business more efficient. Almost every one of them seen the Salesforce ads with Matthew McConaughey. I think they're really funny, but they're trying to think what Salesforce can do for them. Are they baffled by AI? You bet they are. 7. They're all hoping there'll be some sort of rollback of regulations. Even as they said they can handle the regulations better than little guys, which only works in their favor. Doesn't matter. They just think that the civil servants in Washington never worked in private industry and don't know how onerous all the new rules are. If the regulators ever labored in real companies, these execs think it would be obvious that they're stagn clean creativity. Remember, this is them, not me. Although my experience as a small business entrepreneur, I totally agree with them. 8. The question about Europe. Seem to think that it's just decided to not compete in anything except tax and tech and finding tech. They don't. They have total contempt for Europe in the way since you were nine. This is a wild one. They're all rooting for Brian Nichols Starbucks. Because they often find themselves with no choice but Starbucks. They tend to hate the licensed ones like the ones in the airport which Brian could fire. The managers bring in better people. They actually talk about this all the time. It's a high priority for the CEO demographic. They want a better Starbucks. Two of them are happy they got their drinks in four minutes time. From water to drinking. Yay. That was fantastic. 10. They almost all think the stock market's too high, but their stocks are too low. When I tell them that the market's low and I like their stocks, they nod. But they think I'm a dreamer. When I say to them, I don't question you about how to make and sell your product. Why question me on how to value your stock? They almost always come back to as a person, they say, yeah, you really did like Apple and Nvidia. Thank you. Which I say I still do. Bottom line, after talking to so many CEOs at the big Game, I can give you a sense about what they cared about. And even though their views definitely aren't the same as Say the average American, there's a. They're a lot more relevant to the way we do business this country and to why the stock market just hit a new high again today. Let's go to Barbara in New York. Barbara.