Mad Money with Jim Cramer – Episode Summary (March 11, 2025)

Host: Jim Cramer
Produced by: CNBC
Release Date: March 11, 2025

1. Opening Market Overview

Timestamp 01:03

Jim Cramer kicks off the episode with an enthusiastic mission statement: “My mission is simple to make you money. I'm here to level the playing field for all investors.” He provides a snapshot of the day's market activity, highlighting a rally in tech stocks that faltered near the close. Cramer notes the Dow Jones Industrial Average lost 478 points, the S&P 500 dipped by 5 cents, and the NASDAQ only slipped by 0.18%. Despite the minor losses, he remains optimistic, stating, “There's always a bull market somewhere and I promise to help you find it.”

2. Trade War Escalations and Tariffs

Timestamp 02:45

A significant portion of the episode delves into the escalating trade tensions between the United States and Canada. Cramer discusses the initial 25% tariff imposed by Canada on U.S. electricity, followed by President Trump's retaliation, doubling tariffs on Australian aluminum and steel. He articulates the potential ramifications: “A 50% tariff would be very inflationary and could destroy the profits of the automakers.”

The situation saw a brief improvement when Canada suspended the electricity surcharge and Ukraine proposed a 30-day truce, leading to a momentary market rally. However, the uncertainty persisted as President Trump hinted at possibly rolling back some tariffs, leaving investors uneasy.

Notable Quote:

"President Trump needs to change course on how he tries to implement the tariffs. It's screaming that we have the wrong approach because that's how you end up in a recession." – Jim Cramer [07:30]

3. Impact on Specific Stocks and Industries

Cramer examines how the tariffs are affecting various sectors:

• Technology Stocks: Despite a rally, companies like Apple faced downturns, while Broadcom showed resilience with a 10-point rally before giving back losses.

• Automotive and Aerospace: Heavy tariffs on aluminum and steel pose risks to automakers like GM and aerospace giants like Boeing, potentially inflating vehicle and aircraft prices.

• Retail and Telecommunications: Companies like Dick's Sporting Goods and Kohl's are facing reduced earnings forecasts and declining same-store sales, attributing the troubles to the uncertain economic environment.

Notable Quote:

"We're not a manufacturing economy or a service economy. That's why it stings when you see these retailers, telcos, and airlines linking the negativity of their customers to political actions emanating from the White House." – Jim Cramer [08:00]

4. Interview with Amar Al Jundi, CEO of Agnico Eagle Mines

Timestamp 14:15

Jim Cramer welcomes Amar Al Jundi, CEO of Agnico Eagle Mines, to discuss the resilience of gold prices amidst economic turmoil.

Key Insights:

• Agnico Eagle Mines has achieved record production and controlled costs effectively, leading to substantial cash flow and higher shareholder value.
• Al Jundi compares gold to a currency, emphasizing its role as a store of value, with minimal exposure to tariffs since 60% of their costs are labor, electricity, and diesel in Canada, which are not tariff-sensitive.
• Differentiates gold from Bitcoin, highlighting that gold is a universally recognized store of value, whereas Bitcoin is perceived more as a trade.

Notable Quotes:

"If the gold price shoots up $600 last year and we deliver record production, all of that incremental cash goes to our shareholders." – Amar Al Jundi [14:31]
"Gold is a hard asset, a currency… Bitcoin's almost more like a trade." – Amar Al Jundi [17:52]

5. Technical Analysis with Jessica Inscription

Timestamp 27:00

Jessica Inscription, Director of Investor Research at Fidelity, joins to provide a technical analysis of the S&P 500. She outlines a bearish trading cycle indicated by declining 13-week, 26-week, and 40-week moving averages, suggesting the market may remain bearish until a significant breakout occurs above the 40-week moving average of 5,769.

Key Points:

• S&P 500’s weekly and daily charts depict a strong bearish trend.
• The S&P Equal Weight Index shows less momentum but still indicates potential for further declines.
• Tech-focused ETFs like the X indicate strong bearish momentum with potential drops to key support levels.

Notable Quote:

"If you bought an S&P 500 index fund in early 2018 and sat on your hands for the next three years, hey, come on, you would have made it like a bandit." – Jim Cramer [28:00]

6. Viewer Call-ins and Stock Recommendations

Cramer takes multiple calls from listeners, offering insights and stock recommendations:

• Robert from New York [08:42]: Thanks Cramer for warning about the downturn related to tariffs.

• Howard from Pennsylvania [10:35]: Discusses Toll Brothers (TOL) with Cramer expressing cautious optimism, “If President Trump does not go after lumber, that would make me want to buy it.”

• Ryan from Michigan [11:01]: Asks about Starbucks (SBUX). Cramer remains bullish, highlighting strong subscription models and management strategies.

• Joel from New Jersey [28:57]: Inquires about Berkshire Hathaway (BRK). Cramer expresses high praise but jokes about ignoring certain metrics: “I'm not even going to spend a second on it. That's how much I like it.”

• Additional Calls: Include discussions on Crocs, Sirius Radio, AutoZone, Timken (TKR), Micron (MU), and Netflix (NFLX), with Cramer providing varied perspectives—ranging from bullish to bearish.

Notable Quotes:

"I think he's instituting the right policies. I think he really knows what he's doing." – Jim Cramer on Starbucks CEO [10:35]
"Don't be curious. It's terrific. It's subscription revenue." – Jim Cramer on Netflix [29:58]

7. Lightning Round

Timestamps 31:31 & 35:47

In the high-energy Lightning Round segments, Cramer rapidly addresses multiple stock inquiries from callers:

• Crocs (CROX): Cramer advises against investing. “We got holdings at 45 and you come to me with crocs. Come on, man. Crocs no on yes.”

• Sirius Radio (SIRI): Recommends avoidance due to weak association with the auto industry.

• AutoZone (AZO): Highly praises the company for its stock buybacks and operational excellence.

• Timken (TKR): Advises against investment due to market conditions and leveraged exposure in slowing industries.

• Micron (MU): Warns of pressure from government policies but commends leadership.

Notable Quote:

"It's really incredible. I think those guys are fantastic." – Jim Cramer on AutoZone [33:12]

8. Final Market Commentary

Timestamp 41:02

In his concluding remarks, Cramer reflects on the tumultuous nature of the current trade war, particularly with Canada. He criticizes the aggressive tariff approach, likening it to “burning the forest down” instead of a controlled burn. He emphasizes the economic repercussions, including increased prices for vehicles and housing, and potential recession triggers.

Cramer underscores the disconnect between President Trump's aggressive tariffs and the stock market’s response, stating, “The stock market isn't some idle abstraction. It's a barometer of how the country's doing. It's a barometer of how people are feeling.”

He concludes on a cautiously optimistic note, encouraging investors to seek out bull markets amidst the chaos: “I like to say there's always a bull market summer. I promise. Try to find it just for you. Right here on Money.”

Notable Quote:

"There's always a bull market summer. I promise. Try to find it just for you." – Jim Cramer [43:30]

Key Takeaways:

• Trade War Impact: Escalating tariffs between the U.S. and Canada are causing significant market volatility, affecting multiple sectors including technology, automotive, aerospace, retail, and telecommunications.

• Sector Insights: Gold mining companies like Agnico Eagle Mines are thriving due to controlled costs and strong cash flow, contrasting with struggling retail and auto sectors.

• Technical Analysis: Current technical indicators suggest a bearish market trend, but historical perspectives offer hope for long-term gains despite short-term fluctuations.

• Stock Recommendations: Cramer's advice ranges from cautious optimism on strong companies like AutoZone and Netflix to warnings against stocks adversely affected by the trade tensions.

• Investor Sentiment: The aggressive tariff policies are unsettling consumers and investors alike, potentially leading to reduced spending and economic slowdown.

Notable Quotes:

• On Tariffs and Economy:

  “A 50% tariff would be very inflationary and could destroy the profits of the automakers.” – Jim Cramer [02:45]

• On Market Trends:

  “If you just bought an S&P 500 index fund in early 2018 and sat on your hands for the next three years, hey, come on, you would have made it like a bandit.” – Jim Cramer [28:00]

• On Gold vs. Bitcoin:

  “Bitcoin's almost more like a trade… But gold is a universally recognized store of value.” – Jim Cramer [17:52]

• On Investment Strategy:

  “It's not sugarcoat. However, she also points out that if you bought during the trade war lows, then you made up fabulously.” – Jim Cramer [35:26]

This episode of "Mad Money with Jim Cramer" offers a comprehensive analysis of the current economic landscape shaped by trade wars and tariffs, providing valuable insights and actionable advice for investors navigating a volatile market.