Mad Money w/ Jim Cramer 7/27/26

Summary

Mad Money w/ Jim Cramer – Episode Summary (7/27/26)

---

Episode Overview

On this episode, Jim Cramer explores worries about the state of the data center investment boom, drawing heavy parallels to the dot-com bubble of 2000. He warns listeners about the risk of "vendor financing" in data center suppliers, especially regarding recent headline-grabbing moves by Nvidia. Cramer also delivers analysis on non-tech opportunities (notably Honeywell and CRH), handles questions from investors about Intel, CrowdStrike, Nike, SpaceX, and more, and presents his signature Lightning Round segment.

---

Key Discussion Points & Insights

1. The "Specter of Year 2000" and Data Center Dangers

[01:01 – 09:48]

• Market Mood & Parallels to Dot-Com Bust

  • “A specter is haunting this market. The specter of the year 2000.” (01:10, Jim)
  • Cramer notes market skittishness about high-spending data center customers and the heavy financing being offered by chip suppliers like Nvidia.
  • Oil’s steep decline (-9%) is helping calm inflation fears before the Fed meeting, making for a complex market with cross currents.

• Vendor Financing Red Flag

  • Cramer details Nvidia’s reported $250 billion guarantees for data center chips as facilitating sales to customers (notably OpenAI) who might not otherwise afford them:
    • “What we learned in 2000 is that you don’t lend to customers who buy your goods. They might default and your earnings get smashed.” (06:40, Jim)
  • He draws a parallel to the dot-com collapse, where supplier companies got stuck when overextended customers defaulted.
  • He clarifies Nvidia is financially strong but says, "History is brutal…I don’t want the sequel." (07:36, Jim)

  Notable Quote:
  "No matter how smart they may be...I saw the movie. I was in the movie. Bottom line, I don’t want the sequel. Nvidia shouldn’t make these guarantees. Even if it has all the money in the world. Just history. That’s all. Just history." (08:40, Jim)

• Investment Takeaway

  • "We say Nvidia at the club, don’t trade it because we believe…these kinds of deals aren’t worth it. But the big institutions…will continue to sell the stock. Why? Because history is on their side." (09:24, Jim)

---

2. Q&A – Intel’s Prospects and Portfolio Insights

[09:48 – 12:29]

• Intel

  • Caller asks when Intel will “get the respect it deserves.”
    • Cramer notes Intel is up 148% recently but has pulled back, saying CNBC’s investor club is buying. Believes CPUs will stage a comeback and Intel’s CEO is capitalizing on packaging/foundry shortages.
    • “We are buyers of Intel. We think it doesn’t relate to Nvidia. They are very different.” (10:10, Jim)

• CrowdStrike

  • On raising targets and profit-taking: Cramer admits missing on updating target prices but remains bullish:
    • “CrowdStrike is an incredible stock...George Kurtz is probably now the foremost person in cybersecurity in the world.” (11:23, Jim)

---

3. Case Study: American Express Post-Earnings

[14:27 – 21:29]

• Earnings Recap

  • Amex posted strong numbers (revenue up 10%, big beat on earnings per share), but shares dropped after not raising their yearly earnings guidance.
  • Spending from Millennials (+14%) and Gen Z (+40%) was a demographic highlight.
  • High value elsewhere: 75% of new customers pay fees, Platinum card ($895/year) has strong appeal and high retention.

  Notable Quote:
  “When you’re looking at companies investing for the future…you want to find companies that they have the younger demographic. American Express is killing it there. And remember, that’s lifetime.” (16:35, Jim)

• Why Keep Investing Instead of Raising Guidance?

  • CEO Steve Squeri prefers reinvesting over buybacks:
    • “In essence, a great premium value proposition is not just a product. It’s a multifaceted relationship between the brand and the customer. This is what our membership model delivers and it is very difficult to replicate on a global scale.” (18:01, CEO Squeri, quoting from conference call)
  • Cramer’s takeaway: “Based on Steve Squeri's track record, I think he deserves the benefit of the doubt here, which is why I'd be a buyer.” (20:41, Jim)

---

4. Honeywell Breakup: Technologies vs. Aerospace

[23:12 – 29:54]

• Spin-Off Evaluation

  • Honeywell spun off building controls (Honeywell Technologies) and aerospace.
  • Honeywell Technologies: Initial skepticism, but recent quarter was “accelerating orders, expanding margins, strong cost discipline and a growing backlog.”
    • "Honeywell Technologies can truly hit its long term financial targets...it deserves to trade at a higher price to raise multiple." (25:41, Jim)
  • Honeywell Aerospace: Strong franchise; stock down due to oil volatility—not business problems.
    • “Honeywell Aerospace is a great company, doesn’t deserve to trade at discount to RTX.” (27:35, Jim)
    • Expects aerospace division’s standalone report to provide a buying opportunity.

  Notable Quote:
  “I’m still a huge believer in the great Honeywell breakup…now you're getting an incredible buying opportunity in Honeywell Aerospace.” (28:56, Jim)

• Q&A

  • SpaceX: Not a buy for the trust, but “if you believe in Elon…that’s exactly how you should look at that company.” (30:09, Jim)

---

5. Industry Spotlight: CRH (Aggregates and Infrastructure)

[32:12 – 40:07]

• On Location with CRH (Jim Minturn, CEO)

  • CRH is the top US producer of aggregates (rock), vital for everything from roads to major construction.
  • Legacy site supplies over half of Manhattan’s rock; still 120 years of reserves.
  • Arcosa acquisition adds high-growth markets (Dallas, Phoenix) and energy transmission assets.
  • CRH operates a connected portfolio—“not just producing aggregates,” but also largest US road paver, water, and energy infrastructure solutions.
  • Infrastructure Trends: Within 25 miles of 90% of new data centers; involved in major semiconductor plant construction in Ohio and more.
  • Resilience: Road repair is annuity-like and not sensitive to interest rates; only a small part of business is new-build housing.
  • Acquisition Philosophy: 1,200+ acquisitions shaped by local empowerment; focus on integrating family businesses into leadership.
    • “Only the top 10 owners of rock only account for about 30% of total production. So it’s still a very fragmented industry.” (39:29, Jim Minturn)

  Memorable Moment:
  Jim Cramer detonates a quarry blast with the CEO: “I think we should blow some stuff up so you can tell us what happens when we do. … Let’s go. Have a blast.” (39:37 – 39:49, Jim & Jim Minturn)

---

6. Lightning Round – Buy/Sell Opinions on Listener Stocks

[40:42 – 43:15]

• Cerebras (CBRS): Not buying more tech except Intel right now.
• First Horizon (FHN, Regional Bank): “Terrific stock, very inexpensive and I think you should buy it.” (42:04, Jim)
• Nike (NKE): “It’s trying so hard to get things turned around but there’s a lot of competition. … We don’t want to own just okay.” (42:28, Jim)
• Kemper Insurance (KMPR): Avoid—no growth.

---

7. Closing: Dire Data Center Warning

[43:31 – 47:33]

• Cramer Issues a Final Warning
  • Now, data center tie-ins are a liability more than an asset: suppliers and adjacent plays could get crushed if spending dries up—history (2000) shows how ugly this can get.
  • Advocates for diversified tech: "We want tech but not the kind of big tech investors used to buy. We want materials tech and we want science tech." (45:50, Jim)
  • Selling advice:
    • "If you are borrowing money to buy something related to the data center, OK, here’s what you’re going to do tomorrow morning, 9:30 AM: sell it. No matter what. You will not regret it." (47:06, Jim)

---

Notable Quotes & Memorable Moments

• Vendor Financing Cautionary Tale:

  "What we learned in 2000 is that you don’t lend to customers who buy your goods. They might default and your earnings get smashed." (06:40, Jim)

• Faith in Experience Over Optimism:

  “Maybe they never took part in 2000. Maybe they were doing something else. I saw the movie. I was in the movie. Bottom line, I don’t want the sequel.” (08:40, Jim)

• On American Express’s Premium Customer Model:

  “In essence, a great premium value proposition is not just a product. It’s a multifaceted relationship between the brand and the customer.” (18:01, CEO Squeri, via Jim)

• On Infrastructure’s Resilience:

  “You can’t build a 21st century economy with 20th century infrastructure.” (37:10, Jim Minturn, CRH)

• On Road Repair’s Recurrence:

  “...it’s almost a repeatable, recurring, almost annuity like income stream.” (37:56, Jim Minturn, CRH)

• Blast Quarry Moment:

  “I think we should blow some stuff up…Let’s go. Have a blast.” (39:44, Jim Cramer)

---

Timestamps for Major Segments

• [01:01] – Market overview, AI/data center warnings
• [09:48] – Call-in Q&A: Intel, CrowdStrike
• [14:27] – Amex earnings breakdown
• [23:12] – Honeywell breakup analysis
• [29:54] – SpaceX, investing philosophy
• [32:12] – CRH CEO interview and site visit
• [40:42] – Lightning Round (stock calls)
• [43:31] – Final warning: Data center overexposure

---

Episode Takeaway

Jim Cramer’s central message: beware of overexposure to the data center theme, especially when vendor financing is at play—history is “brutal” for stocks in similar scenarios. Seek out stocks in overlooked areas of tech (materials, science, infrastructure) and be ready to buy great companies when dislocation happens. The episode offers a warning rooted in direct market experience, sprinkled with actionable buy/sell calls and examples of companies thriving outside the mainstream tech narrative.

Transcript

[Corporate Board Member]

The board recommends approving regarding that seat on the committee. We're promoting quarterly earnings.

[Vanguard Marketing Representative]

Every day, shareholders meet to discuss important matters about the companies you invest in. Now you can easily make your voice heard. Vanguard Investor Choice gives you a say in the companies you invest in. With just a few taps, you can set your proxy voting preference for your index funds. Visit vanguard.com investorchoice to learn more. Vanguard investors own shares of our index funds, which own shares of the companies they invest in. Available for Vanguard index funds that participate in Investor Choice. Vanguard Marketing Corporation Distributor when the right

[Indeed Sponsored Jobs Advertiser]

person joins a team, everything changes. Deadlines tighten, momentum builds. Chaos settles down. That's why hiring Smart matters Indeed Sponsored Jobs gets you quality candidates when you need them most. Spend less time searching and more time interviewing candidates who check all your boxes with Indeed Sponsored Jobs. Less stress, less time, more results. Listeners of this show will get a $75 sponsored job credit@ Indeed.com podcast. Terms and conditions apply. Need to hire. This is a job for Indeed Sponsored Jobs.

[Jim Cramer]

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 Kramerica, friends. I'm just trying to make you some money. My job is not just to entertain, but it's to teach you. So call me at 1-800-743-CBC. Tweet me at you, Kramer. A specter is haunting this market. The specter of the year 2000. And it's very hard to talk people out of selling the stocks that resemble the casualties of the dot com era, even if you think that this time it's very different. Fortunately, unlike 26 years ago, there are so many alternatives to invest in that you can easily steer clear of the data center and still make money. In fact, right now, this market saying that you should stay as far away from the data center as possible because the whole AI thesis hinges on a few companies spending way more money than they maybe should while others continue to finance them. Today may have seemed sedate when you look at the averages now gaining 263 points. SB inching up 0.2%. Nasdaq dipping.1.8%. But there were a ton of powerful cross currents that dominated the action. We got to discuss them. Why? Because they are worrisome. The market as a whole was strong enough today because oil's down big 9% in one session, courtesy of the pause in bombing the move. You know what that does, it moves interest rates down, which in turn moves stocks up. That's doubly important because this week we have a Fed meeting and the decline in oil helps make the case that inflation could be transitory. Now there's a term we've heard many times before during the previous Fed she's regime. But whether it's because the price of Brent crude went to the triple digits last week or because our military is running out of interceptors to block a Iranian missiles. So things may be too dicey now to keep bombing. The White House is turning down the temperature. That's clear. See, I bring this up because I've been pushing you to wean yourselves away from traditional tech and pivot to technological companies that are outside the tech sector. Think JJ for Medtech, Honeywell Aerospace for airplane tech now down more than 50 points from its recent highs because of oil traders notice sell aerospace when oil goes up. Even though these aerospace stocks don't trade on jet fuel as much the airlines themselves they trade on cash flow and production growth. More Honeywell Aerospace later in the show but it is emblematic still. While I prefer to talk about what's working, we got to talk about what's not, at least in most cases to see if, if or when we could it could start working again. This weekend we saw bits of announcements about the tie ups combinations of partnerships in tech numbers are huge. Big $100 billion deals involving data centers and the chips that fill them. Stories about suppliers and builders making potentially billions and billions of dollars. So something that drove the complex. But unlike previous times when we've seen big money flowing from customers like the hyperscalers to suppliers like Nvidia amd, the customer stocks, they're actually hanging in there. They've been getting really hurt. This time the suppliers are getting pulled rushed. Something that happened on Friday too. Most of these supplier stocks started higher this session, but then they finished dramatically lower. That's a bad pattern. It's very daunting. Why aren't the suppliers getting love that they still that they had recently? Well instead of the hate that they're getting now, simple. Some of us have seen this movie before 26 years ago. Back then the telco equipment suppliers were some of the largest companies in the market. We thought they owned the future. Initially, the suppliers made fortunes and their stocks were among the best performers in the market. But the customers made very little or no money. Until one day the customers of the suppliers ran out of money and investors crushed the stocks of the suppliers beyond all recognition. Once the Customers couldn't pay and defaulted on the financing that they had, particularly from the makers of the equipment. The whole.com edifice collapsed. Huge caveat here. The supplier companies we are talking about now are much, much stronger than back then. They've got fabulous balance sheets. But the stock sellers, they don't care. They can't stop equating the two periods because the customers are losing gobs here on the spending like they did back then. Now you may think that Nvidia guaranteeing $250 billion with the financing for Open Air data centers as was reported today, makes sense given that Open Air is one of the big customers. After all, these chips are insanely expensive, right? If there were no history to these kinds of transactions, you think, well why not? But there is history, boatloads of it, and it is very negative. What we learned in 2000 is that you don't lend to customers who buy your goods. They might default and your earnings get smashed. This weekend we learned of multibillion dollar deals where in video actually makes it possible for the purchase to occur. If the buyer in this case open I can actually afford to pay for these ships. Perhaps because it comes public, perhaps because ChatGPT becomes insanely popular, perhaps there are whole new features we don't know about. Then if it is in perfect shape and Nvidia stock sellers will look insanely stupid. But the chip buyer can't pay. Well, that's a different story. Is an OpenAI money good? Why should we worry? Well, first, they haven't come public. Second, we don't know whether they can. Second, they're known to be burning a lot of cash. Third, they are considered investment grade. That makes it much more dicey. The reverberations here are immense people. There are so many companies counting on the data center for their earnings. All sorts of suppliers. If the market decides it doesn't want to fund any more data centers, not give more cash, and the companies themselves don't have the money or they don't get paid, then we're back in year 2000. Why does it resonate so easily? Because in the dot com era, the companies that bought the goods didn't have enough money to pay for them. Instead, the companies that made the goods ended up on the hook because they provided what's known as vendor financing. And that could be the case right now. Back then it became a giant game of Domino's and everyone got annihilated, especially investors in these companies. Could you have seen it coming? Yes, if you paid attention to the balance sheets of the buyers like OpenAI when they got grotesque, you had to sell. There's a reason my hedge fund got out of the dot com stocks about a week before they peaked. The balance sheets of those who were buying supplies, well, they were so bad that they had to rely on the suppliers to afford the goods. That's what could be happening now and the market hates it or the stock of Nvidia would not have been down 10 points. It might have been up 10 points. Yes, down 10 points today. Notice I'm not saying video doesn't have the money to guarantee sales or to provide vendor financing.

[Corporate Board Member]

They do.

[Jim Cramer]

I think it is balance sheet is among the best in the world. The company's an amazing investor too. But I lived through 2000 and even the strongest became awful stocks. Took them decades to revisit the previous highs. The stock market is telling you what it thinks of in video because of these kinds of transactions. Even as plenty of people, including me acknowledge that Nvidia is one heck of a great company. So many of the buyers of Nvidia chips had tremendous balance sheets a year ago. That's no longer the case. Now some desperately need more money to finish their datacenter build outs and it might not be available. Others are losing their investment grade status. That's going to send the stocks lower. Now let me tell you what sticks in my crawl. Back in 1999 I begged the big suppliers not to do this kind of stuff. I saw it in action and I pulled out of the stocks. So I cannot sit here and say don't worry about it because I was worried. Then I have to help you anticipate what sellers stock sellers will do. It's not all muscle memory. By the way, my friend Michael Cymblas, my favorite strategist, JP Morgan, he just did an amazing piece last week that compared this moment to the dotcom era. His conclusion that they're too close for comfort. I have to agree. It doesn't matter if your balance sheet is perfect. They all started that way. It doesn't matter if you have bountiful sales. They all started that way. History is brutal. I open video isn't actually making these kinds of transactions. I wish they just stay conservative and buy back their own stock. I wish they hadn't given ammo to the short sellers. I wish they'd spend more time thinking about the dot com collapse. I know they may end up on the hook for nothing. Maybe this time is different. That's what I'm wishing for. But investing isn't about wishing. It's about knowledge. No matter how smart they may be. And they are much smarter than I am. Maybe they never took part in 2000. Maybe they were doing something else. I saw the movie. I was in a movie. Bottom line, I don't want the sequel. Nvidia shouldn't make these guarantees. Even if it has all the money in the world. Just history. That's all. Just history. We say in video at the club, don't trade it because we believe that we will see these kinds of deals aren't worth it. But the big institutions are not going to listen and they will continue to sell the stock. Why? Because history is on their side. Let's take questions. Let's go to Oliver in Connecticut. Oliver.

[Caller/Investor]

Hey Jim. How are you?

[Jim Cramer]

I am good. Oliver, how about you?

[Caller/Investor]

I'm doing great. My question today is about Intel. It's a quick two part question.

[Jim Cramer]

Okay.

[Caller/Investor]

I'm a big fan of intel, that they had good quarterly earnings and I think they're doing a lot of good things to right the ship. So my question is, when do you think intel will get the respect it deserves and where do you think it'll end up? The year?

[Jim Cramer]

Well, I think it was getting some respect. Remember, it's up 148%. It was at 142. Now it's down to 91. We are buying it pretty aggressively for the CNBC investor club. Why are we doing that? One, because CPUs are going to start being used a lot more. More than GPUs, which is what a video makes. Two, because LIT Bhutan, the CEO is making packaging. Cadence Design tonight reported an amazing quarter for packaging. And three, the world is short foundry space. And Lip Bhutan knows how to make foundry space. So we are buyers of Intel. We think it doesn't relate to Nvidia. They are very different. Now we're going to go to Jerry in Missouri. Jerry, what's up?

[Caller/Investor]

As a member of the club, I use the portfolio page often when a position goes up and exceeds the club's target price. Why isn't the target price to start taking more profits? The stock I'm talking to today is CrowdStrike.

[Jim Cramer]

Okay, look, we like CrowdStrike very much and that's just my bad. If we're not raising the price targets as we should, if we do like the stock, then we just have to stay on top of things. We can't do everything if we have a really amazing group. But we're a small group and we're going to keep trying to do well for you. CrowdStrike is an incredible stock. I know the stock was down today because Microsoft's doing some cybersecurity things. Let me tell you, CrowdStrike is part of this group that wants an open model. It's very positive. George Kurtz is probably now the foremost person in cybersecurity in the world. Own CrowdStrike right now, people. I still say own in video. Don't trade it. But history is no longer on their side if they do these kinds of transactions I'm talking about and I believe they know that maybe they're not so good on my money tonight Market special earnings as expected. So is now the time to buy? I'm taking a look at the quarter then I've been recommending Honeywell for ages. But how's this stack up post breakup? I'm doing some of the parts and letting you know. And in my quest to find stories away from tech, I ventured out the CRH to get up and really upfront personal look at American innovation like you wouldn't believe. Don't miss my explosive interview and stay with Kramer.

[Mad Money Announcer]

Don't miss a second of Mad Money. Follow imKramer on X. Have a question? Tweet Kramer MadMentions. Send Jim an email to madmoneynbc.com or give us a call at 1-800-743-CNBC missed something? Head to madmoney.cnbc.com

[Corporate Board Member]

the board recommends approving

[Jim Cramer]

regarding that seat on the committee.

[Corporate Board Member]

We're promoting quarterly earnings.

[Vanguard Marketing Representative]

Every day, shareholders meet to discuss important matters about the companies you invest in. Now you can easily make your voice heard. Vanguard Investor Choice gives you a say in the companies you invest in. With just a few taps, you can set your proxy voting preference for your index funds. Visit vanguard.com investorchoice to learn more. Vanguard investors own shares of our index funds, which own shares of the companies they invest in. Available for Vanguard index funds that participate in Investor Choice Vanguard Marketing Corporation Distributor

[Corporate Board Member]

how do you turn your strategy into action and action into impact? Bold leaders do it through transformative strategy and transactions. Ones that work in practice, not just on paper. At EY Parthenon, we use an investor mindset to help you create value.

[Caller/Investor]

How?

[Corporate Board Member]

By combining deep sector experience with AI powered technology so you can reimagine your business for tomorrow while building it today. Shape your future with EY Parthenon. Learn more Today when you're at work,

[Dell Advertisement Narrator]

you never know when you'll be interrupted. But with the Dell Pro powered by Intel Core Ultra with vpro, no matter what distracts you, your laptop won't. It's battery optimized for the way you work with built in intelligence that quiets distractions when you need to focus. Your laptop will help keep you locked in even when it's bring your dog to work day. Built for those who stay in the flow. The Dell Pro built for you Dell.com Dell Pro.

[Jim Cramer]

There are some patterns that pop up over and over again during earnings season. Certain stocks tend to sell off in response to even good numbers before bouncing a day or two later. Stocks like American Express As I predicted last week on the show, on Friday morning, amex reported a strong set of numbers with in line revenue and a healthy earnings beat. But the stock had a negative reaction, plunging 4.3% on Friday. They don't bounce up nearly 3% because this is what almost always happens with the stock of American Express. Given that the stock still hasn't erased its post earnings losses. I'm going to walk you through this one because I think you're getting a terrific buying opportunity as you always seem to do after they report. Why? Let's talk numbers for the second quarter Market Express bill business jump 9% year over year coming in. That's a bit above expectations. While the revenue was a tiny bit light, it was still up 10% and the company delivered a 13 cent earnings beat off a $4.40 basis. That's not easy. Even better markets by slightly raises full year forecast for revenues, although the company opted to maintain just the earnings outlook now. I think that's why the stock really sold off. When you beat on earnings, then don't raise your guidance. Wall street sees that as a de facto number cut. I'm not sweating that, because when you check under the hood, as we're about to do, there were a ton of positives. First, the build business was very strong, which tells you that America's best cardholders haven't really stopped spending at all. In fact, its US consumer services business is still accelerating up 11% year over year. That strength was broad based, with goods and services spending up 11% year over year and travel entertainment spending up 13%. That's kind of monumental. Monumental, right when you think of an economy that some companies say is breaking down, people aren't traveling well. That just says that's not true. But the most encouraging thing about the US Consumer bill business numbers was the breakdown demographically, with millennial spending up 14% and Gen Z spending up an incredible 40%. 40%. When you're looking at companies investing for the future, what do you do? You want to find companies that they have the Younger demographic. American Express is killing it there. And remember, that's lifetime. These people aren't going to leave. American Expresses go on and on. New member acquisitions remain all steady. In this reported quarter, 3 million cards acquired. More important, 75% of global new accounts were acquired on fee paying products. Many of Amazon's higher tier cards which come in with annual fees. Car holders now pay a hefty fee of $895 per year for that Platinum card. But they're happy to do it because it's got incredible Rewards program. That $895 fee that's a bargain relative to what you get back in points of goodies. At the same time, Amazon's credit metrics Cheese, I don't know man. They still look fantastic. Despite broader amorphous fears about the state of the consumer, their write off rate remains steady at 2% by the way was more or less where it's been for at least the past five quarters. The 30 day deletion rate it actually ticked down to 1.2%. In fact, thanks to strength in those credit card quality numbers, Amex was able to have a $191 billion reserve release coming back into the bottom line which contribute to the earnings people. So nothing to worry about on the credit front in the end the only big negative here is that the fact that Express didn't raise its full year earnings forecast hence itself on Friday. I think that's totally misguided though and clearly Wall street started to agree or the stock wouldn't be bouncing so seriously today. See during the conference call, CEO Steve Squery went into great detail explaining why even though the company's outperforming its own expectations, it's choosing to invest in business. And that's mainly perks for cardholders. And because of those investments, American Express can't raise its earnings guidance after a strong start to the year. Squery says Amex has a choice. They can either use their better than expected earnings to buy back more shares or they could, and I quote, invest to grow the business further through the wide range of attractive growth opportunities we have across our businesses, end quote. He decided to do the latter because he thinks that's how markets best can create the most value for you a shareholder. Their latest quarter just saw a 36% return on equity. So I think, I think he's making the right call. So one year ago, Square decided to improve. He decided he wanted to spend big, okay? He wanted to improve Amex's flagship platform cards in the US he figured that they quickly see an uptick in customer engagement followed by higher fee revenue and stronger credit metrics because better rewards at the high end attract wealthier consumers. And hey, that's exactly what has happened. The investments made last year have driven accelerated spending and revenue growth. That's what we want to see. The platinum card portfolio that Amex invested in last year is now the fastest growing in their US consumer business. Good choice by Squery. He went on to add some very thoughtful commentary about American Express members, how they find value from the cards. Here's how he puts it. And I love this quote. In essence, a great premium value proposition is not just a product. It's a multifaceted relationship between the brand and the customer. This is what our membership model delivers and it is very difficult to replicate on a global scale. To build deep, enduring relationships with our premium customers, we've leaned into adding benefits they value and where they spend like travel. Which is why we continue to expand our lounge and luxury hotel networks, end quote. That's what we want. In fact, Mark Specialist announced a new global partnership with All Accor, that's the parent company of 45 worldwide hotel chains, including Fairmont and Sofitel. In Europe, they've acquired the Fork, an online restaurant booking platform which will add 50,000 restaurants across 11 European countries to Amex's dining network. For business cards, There's a new $300 annual statement credit for ChatGPT. Oh, it doesn't hurt the Amex case that oil may be breaking down, making travel cheaper. Of course. Long story short, halfway through the year, Market Express is doing better than expected to be at this point. But they didn't raise their earnings guidance because they're taking that excess income and reinvesting it into the business. The goal is to keep doing what's gotten them this far, offering better rewards to attract more customers. Scourie says that with this playbook, his business quote compounds earnings more durably and at a faster pace than in the past, end quote. And that quote, compared to its historical performance, Amex now has more momentum in both the top and bottom lines. A more premium fee paying customer base with stronger loyalty, less credit risk and more younger customers who represent greater lifetime value. Yes, that's the point. Sounds great to me. Here's the bottom line. Based on Steve's query's track record, I think he deserves the benefit of the doubt here, which is why I'd be a buyer. Especially since America Specialist down more than 13% from its all time high set late last year. I think it's a terrific opportunity and one of the best run companies on Earth. Bit Money's back after the break.

[Mad Money Announcer]

Coming up, Cramer's checking in on the status of Honeywell Technologies and Honeywell Aerospace to see if now is the time to buy. Next

[Pacific Life Insurance Narrator]

Confidence it's listening to your gut. It's moving forward even when the path ahead is unclear. For nearly 160 years, Pacific Life has helped people keep their promises, building confidence for generations. Whether you're confident in your financial future or just beginning to envision it, we're here to help. Ask a financial professional how Pacific the Power of a Promise Pacific Life Insurance Company, Omaha, Nebraska and in New York, Pacific Life and Annuity, Phoenix, Arizona.

[Corporate Board Member]

The board recommends approving regarding that seat

[Jim Cramer]

on the committee we're promoting to post quarterly earnings.

[Vanguard Marketing Representative]

Every day, shareholders meet to discuss important matters about the companies you invest in. Now you can easily make your voice heard. Vanguard Investor Choice gives you a say in the companies you invest in. With just a few taps, you can set your proxy voting preference for your index funds. Visit vanguard.com investorchoice to learn more. Vanguard investors own shares of our index funds, which own shares of the companies they invest in. Available for Vanguard index funds that participate in Investor Choice. Vanguard Marketing Corporation Distributor it's smart to

[Discover Card Advertiser]

always have a few financial goals and a really smart one you can set earning cash back on what you buy every day. And with Discover, you can get this Discover automatically matches all the cash back you've earned at the end of your first year. Seriously, all of it. And we trust you to make smart decisions. After all, you listen to this show. See [e-mail] credit card.

[Jim Cramer]

About one month ago, Honeywell finally broke itself up into Honeywell Technologies for building controls and industrial automation and Honeywell Aerospace, where they make all sorts of components for the commercial aerospace market. I've been recommending Honeywell for ages, in part. Well, because I'm a big believer in bankruptcy. I thought we see that there's much more than the what the thing is trading at from the beginning. I don't think the company's getting enough credit for the businesses buried inside of it. It's called the sum of the parts. They're worth more because they didn't belong under the same roof. So TP some of the parts. Wall street prefers smaller, more bite sized companies, and that's been true for decades. It's true now. Honeywell started breaking stuff up last fall when it spun off its special chemicals business as Solstice Advanced Materials at the end of October. This was a big win with Solstice jumping from below $50 on the first day to the 90s a few just a few months later. Then the company announced a big merger with Element Solutions. And since then the stock's fallen back to 60 and change. I still think it's a buy, but it has not been smooth sailing. What's more frustrating is that Honeywell Technologies in Honeywell Aerospace haven't exactly been great performers since they separated at the end of June. Honeywell Aerospace shot higher first, but the excitement quickly faded. The stock in its first official day of trading June 29 at $220. Then it made its highest $266 and change about a week later. But it's since come all the way back down to $210 for some really ugly trading over the past couple of weeks. Tough though in aerospace stocks when the price of oil soars. Although now it's coming right back down. Meanwhile, Honeywell Technologies had the exact opposite experience. The stock was initially I should say, I was going to say hated, but let's go with unloved. Then July turned and the stock turned with it. Honeywell Technologies reported a strong quarter last weekend. The stock just bolded jumping to $245 and change as of today. On a standalone basis, Honeywell technologies earned a $95 per share. Wall street was only looking for a buck 83. That's an increase of 10% year over year. Sales came in higher than expected to thanks to strength in both building automation and industrial automation. Both divisions. Margins also got a real boost from cost cuts and product improvement. And most people did not expect that to happen so quickly. Then there's the generous order book. Organic orders are up 16%. Short cycle orders growing at a double digit pace across every segment of business. Total backlog increased 9%, approximately $20 billion. Another surprise, when Honeywell Technology started trading independently. Investors looked at this thing as a slow growth collection of leftover industrial assets. Some even said cats and dogs. Instead the company delivered accelerating orders, expanding margins, strong cost discipline and a growing backlog that allowed management to raise their full year forecast across the board. And these were substantial number bumps. Now it looks like Honeywell Technologies can truly hit its long term financial targets which previously seemed like they were on the optimistic side. And if it can hit those targets, it deserves to trade at a higher price to raise multiple like its higher quality peers in the industrial space. That's why we stuck with it for the capital trust, although it's much harder for me to recommend at these levels now. The stocks had A big run. It's a great example of the kind of tech I like best right now though. Right now, how about the more complicated Honeywell Aerospace? Quizzical. Even though the stock got slammed this month, the aerospace business was the crown jewel of the old Honeywell. And that hasn't changed. The company makes all sorts of high tech components for commercial aviation, business, defense, space. Even helicopters is a big, hard to replicate aerospace franchise. The portfolio is divided fairly even among three businesses. Electronic solutions represents about 39% of sales. Engines and power systems represent 31% and control systems accounts for remaining 30%. More than 75% of commercial flights begin with one of Honeywell's engine start systems. Once you have such an enormous installed base, it means you get many years of service revenue. These guys have enormous backlogs at both Boeing and Airbus. Airbus which are pretty much fully booked for the the next decade. Their defense and space business gives them exposure to higher military budgets, especially missile programs and fleet modernization spending. That's something we desperately need. You know that after the conflict with Iran. At last month's Investor Day, management laid out the long term case for owning the stock. Through 2030, Honeywell Aerospace expects to generate organic sales growth of 6 to 8% annually and targeting more than $6.5 billion of earnings before interest and taxes. With earnings growing faster than revenue. That's right. Those targets look achievable to me and there may be actually room for upside. I think commercial aircraft deliveries should continue increasing through the end of the decade. The aftermarket should benefit from growing air traffic and the fact that old planes are being kept in service longer. Defense spending remains strong. Honeywell also has pricing power because so many of its products are mission critical, sole source or deeply integrated into an aircraft. I've known this for years. Most of the aren't for other guys. The biggest question is execution. Honeywell Aerospace has more demand than it can handle. Well, that's supposed to be applause where there's a problem it's getting enough parts and hitting its deadlines. But I think that should be easier now that this is an independent company. They're now aiming to stabilize production by managing the supply chain as one integrated system. The analysts don't seem to think that's possible. It is now. Honeywell Aerospace reports its first standalone quarter after the close August 5th. The first report could contain some noise because it won't be apples to apples with the aerospace numbers from the old Honeywell. But I think the stock's weakness heading to the earnings. That's the real opportunity the darling trades at roughly 21 times next year's earnings estimates. By contrast, G Aerospace, which I know everybody loves it, trades at 40 times earnings. RTX, parent of Pratt Whitney and Collins Aerospace, good competitor, sells for 28 times earnings. Honeywell Aerospace is a great company, doesn't deserve to trade a discount to rtx. That's why my capital trust has been using this pullback which I have to tell you is very surprising to add their position because it's just too gone cheap versus the rest of the stocks in its group. In the end, Honeywell Technology is finally starting to get credit for the strength of its business. But Honeywell Aerospace, it's seen as stock fall by the wayside thanks to the recent jump in oil prices. Let me give you the bottom line here in this very complicated story. See, I'm still a huge believer in the great Honeywell breakup. We know Honeywell Technology is doing just fine and now you're getting an incredible buying opportunity in Honeywell Aerospace. Honestly, I'm hoping the latter actually gets slam on reports next week. Why? So we can buy some more on weight. This I know we at the CNBC investing club haven't been able to get enough stock in. If it goes lower, we will be certainly buying beside you. I need questions. I'm going to Kevin in Kentucky. Kevin.

[Caller/Investor]

Hey Jim, I've been watching for 20 years. Thanks for all that you do.

[Jim Cramer]

Thank you. Thank you.

[Caller/Investor]

Around speak. Thank you. My question is around SpaceX. I bought in at 150 and it has gone down. I bought some more and I wanted to get your thoughts on where this is.

[Jim Cramer]

This is complicated and I'm glad you asked me about it. We're spending a lot of time thinking about ourselves. What you have to understand is there are long term believers in anything Elon Musk does. So if I tell you to sell it and then get back in lower, you're going to say well why did you do that when Elon gets it right. So my take is we're not going to buy for the trust. But it's Elon Musk and if you believe in Elon, you believe in space exploration tech. Is that a punt? No, that is exactly how you should look at that company. I'm still a great believer in the great Honeywell breakup and I think you can get in at a great price here. Maybe you wait for after the quarter coming up soon, watch where may have money ahead. Is the data center growth story finally facing some cracks in its facade? Like I told the beginning of the show, I'm Going to survey the space, give you my advice for staying afloat and it's important, it's personal. Fans then I'm taking all your calls. Rapid fires and I scissors of lightning round. But first, coming to you from crh. Don't go anywhere. It's going to be a blast. Earlier today I had a chance to visit crh. That's the largest producer of aggregates rocks in North America at their Mount Hope quarry in northern New Jersey. We're talking the literal basic building blocks of the economy here. Rocks, gravel. This stock's been a great long term performer, up over 80% since it listed on the New York Stock Exchange nearly three years ago. But it's been hard hit this year, down nearly 18% thanks to higher oil prices and higher interest rates that weighed on the entire building materials cohort. As you know, the company reports on the 30th of this month. But we want to take a longer term view on the company's business ahead of the report. And that's why I wanted to check in with Jim Minturn. He's the CEO of crh. Take a look, Jim. This is not my usual backdrop. Where the heck are we?

[Jim Minturn, CEO of CRH]

Welcome Jim, to our Mount Hope facility here in New Jersey.

[Jim Cramer]

Thank you.

[Jim Minturn, CEO of CRH]

This is, we have about 800 aggregate facilities in the U.S. this actually ranks

[Jim Cramer]

three in terms of size and that's aggregate being rock.

[Jim Minturn, CEO of CRH]

That's rock. We produce about 4 million tons a year. This is one of the closest quarries to Manhattan and it's a hugely part of our network.

[Jim Cramer]

At the same time, I understand, understand it's not new.

[Jim Minturn, CEO of CRH]

It's not new. This history goes back to the early 18th century. In fact, this was an iron ore facility and actually made some of the, you know, the blast for Washington's Continental Army. There's an iron ore facility right up to 1960.

[Jim Cramer]

Okay.

[Jim Minturn, CEO of CRH]

And then became a quarry in 1960 and became part of CRH in around 2001.

[Jim Cramer]

Now if we were to look around in, in Manhattan, how much would we think find out is from right here?

[Jim Minturn, CEO of CRH]

A lot of it, Jim. I'd say well over half of Manhattan has been built by rock coming out of this quarry and some of the network and you think some of the real iconic projects, the Mario Coma Bridge, LaGuardia, Hudson Yards, the Reinforcement, the Lower east side, it's rock coming out of here and its network of quarries which is supplying all that material.

[Jim Cramer]

Now one of the things that intrigues me about your business is here we are something that was used in the 18th century. Why hasn't it run out. I mean we're going to to blow something up today. How come there's still something to blow up?

[Jim Minturn, CEO of CRH]

We do about 4 million tons here a year and we have still 120 years reserves left. So this is a 1,000 acre site. It's a big facility. We're going to have a chance to see it shortly. But yeah, it's a lot of reserves here.

[Jim Cramer]

But you are always replenishing or getting bigger. You've got a huge acquisition on the table and the Sarcosa, I think some people don't really understand it or they might say, listen, why do you keep buying things? But actually your history is filled with acquisitions that have worked.

[Jim Minturn, CEO of CRH]

Yeah, we're the number one producer of aggregates in the US. We do about 230 million tonnes a year. We own about 24 billion tonnes of rock in the US. Now the Arcosa deal for us it was straight down the middle of the Fairway. It is 35 million tonnes of AGS and bringing us into two new high growth markets in Dallas and Phoenix, which we warranted arguably.

[Jim Cramer]

Two of what, the top five markets in the country?

[Jim Minturn, CEO of CRH]

Certainly two of the top, probably 10 anyhow in terms of growing in terms of MSA. So for us particularly significant now also Arcosa had a secondary business which is there in their energy transmission. It's hugely complementary to what we do today with the large utility companies.

[Jim Cramer]

Those are those things we see on the side of the road. Look like big men.

[Jim Minturn, CEO of CRH]

They are. That's exactly them. And that's obviously an area with the whole development of the energy transportation transition infrastructure, which is a high growth area right now.

[Jim Cramer]

Okay, so we hear aggregates, we think rocks, therefore no value added. Therefore can anybody in this business. But that's precisely wrong, isn't it?

[Jim Minturn, CEO of CRH]

It is, absolutely. And that may be, you know, for us, we operate, we call the connected portfolio. So. Connected portfolio, yeah, we just don't produce aggregates. So we here, we take those aggregates and we convert it into asphalt here behind us. We do about a million tons a year from the Manto facility. With that asphalt we pave roads. We're the largest paver of roads in the us. Now you take the scale and the size of the U.S. interstate program at the whole highway network, we pave as much as the next five competitors together. We've also then take that stone, we convert it into water infrastructure and energy infrastructure and it's really that connected nature which drives the consistency of our performance year in, year out.

[Jim Cramer]

Now we all know the we're in the golden age of capital investment. We have reshoring, we have giant data centers, we have buildings going up, for instance in Ohio, where there was no infrastructure at all, where it's just prairie fields. When we want to build something, we need roads, we need aggregate for them. You're probably there, given your dispersal in the country for a lot of those businesses.

[Jim Minturn, CEO of CRH]

We are here. We have about 2,000 locations, I think across the US with 50,000 employees. We're actually within 25 miles of almost 90% of every data center that's being built in the US today. You mentioned Ohio. We're on, we're on one of the very big semiconductor plants up in Ohio in the last number of years. And that's again strikes to the core what we are doing. We're not just supplying the aggregates. We're often the very first person on site putting in the subterranean energy and water infrastructure. Then we come in with our cementitious product to stabilize the site. And it's only then we bring in our aggregates, our stone or our rock. Then we have our concrete. So these are multi year projects for us.

[Jim Cramer]

Well, let me tell you triggered a word that I know you can't leave when you mention it. Water infrastructure. Many people in the country think that a data center makes, it ruins the water. I've done a lot of work on this and I have told people over and over again that not the case, but I'm just some TV guy. Will you explain? Because you're at the heart of it, it doesn't mean water despoliation.

[Jim Minturn, CEO of CRH]

No, I mean for us in terms of water infrastructure. We believe in position of water infrastructure primarily in the collection and the early stage quality treatment in water. Right now data centers consume a lot of water. You know, from that perspective. But for us it's hugely complementary to what we do. Jim, that perspective. But I think, listen, I think, I think we can all agree, right that you know, the investment that's required in US infrastructure, you can't build a 21st century economy with 20, with a 20th century, you know, infrastructure. So there's very significant investment in transport, in water and indeed energy infrastructure.

[Jim Cramer]

Now you talked about roads. A lot of people get worried about rock companies. They seem to be so hit or miss because they're connected with housing. Now we know that housing is very interest rate sensitive. But what we know also is that road building is not interest rate sensitive. And the nature of the repetitive business that is asphalt and how roads must be maintained could be a secret weapon for you.

[Jim Minturn, CEO of CRH]

Absolutely. And that's exactly why we got into it maybe you know, 40 years ago. Right. That, that repeatability, the predictability, particularly up here in New Jersey, you think of the severity of the winters, you know. Well, Jim, sure. The free tall, the roads get torn up by the winter. So it's almost a repeatable, recurring, almost annuity like income stream in terms of repaving the roads. Now for us, you mentioned new build Rails. That's the single smallest segment we have in CRH and us. So you know, we are way more dependent on publicly funded infrastructure and indeed private funded infrastructure.

[Jim Cramer]

Now this acquisition again, that helped you in areas that, that are really the highest growth. But does that necessarily translate into. You've done a lot of acquisitions into profits for your company?

[Jim Minturn, CEO of CRH]

It does, yeah. I mean our cosadillas, I said that we're super excited about it. You know, we've done about 1200 acquisitions. That's one every two, two weeks for over 50 years. But in context, right. So you know, and a lot of it stems from places like this. You take Teal Con here in New Jersey, you know, the president to run stillcon, he has a mandate to go out and grow the business through M and A. We tried to foster that entrepreneurial spirit at a local level. So last year is a very good example. We did 38 deals in 25, 30 of them bubbled up from locations like this. You know, if you're a family business selling your business, we don't change the name. We've a tremendous record of integrating family members into our own senior leadership team. And that's very significant. That gets a lot of exclusive looks

[Jim Cramer]

still cars that are independent around the country. When you see these big holes that might be owned by you one day.

[Jim Minturn, CEO of CRH]

In fact, only the top 10 owners of rock only account for about 30% of total production. So it's still a very fragmented industry

[Jim Cramer]

across the U.S. well, you know what I think we ought to do? I think that we should blow some stuff up so you can tell us what happens when we do.

[Jim Minturn, CEO of CRH]

Let's go. Have a blast.

[Jim Cramer]

Thank you, Jim. In turn CRH CEO.

[Jim Minturn, CEO of CRH]

What we're gonna do here, Jim, when

[Jim Cramer]

we give you the 10 second countdown, you're gonna turn this key here. You're kidding me.

[Jim Minturn, CEO of CRH]

Okay.

[Caller/Investor]

All right.

[Jim Cramer]

All right. Yeah. And then you're gonna hit the on button. All right. And you're gonna say, no, don't press it now. It'll go up. Firing the hole. All right, here we go. It's my second siren.

[Jim Minturn, CEO of CRH]

That's one minute.

[Jim Cramer]

It's tired. It's turned fire in.

[Caller/Investor]

Coming up.

[Mad Money Announcer]

He's the fastest mind on Wall street so we're putting him to the test with your help. Bring on the lightning round next.

[Jim Cramer]

It is time. It's up for the lighting round. Crash you save me the name of stock I tell you to buy. Bye bye. So just another course of stock question at the time my staff prepares the graphics in the plot. When you hear this sound, then the lightning round is over. Are you ready Ski Duck home for lightning. Let's go to Rachel in New York. Rachel.

[Caller/Investor]

Hi Gib. Love your show.

[Jim Cramer]

Oh, thank you.

[Caller/Investor]

My question is about Cerebras ticker symbol cbrs. So last week crowdstrike chose Cerebras to power their real time falcon AI detection. When George Kurt vouches for your inference feed Isn't it time to stop treating Cerebras like a post IPO trade? And why?

[Jim Cramer]

Look, I think that it's certainly reasonable to say, you know, it's down so much and the P mobile is not that high. Just that I don't want to buy a lot of tech. The only one that I'm currently buying is intel which I think has better prospects in cerebral But I like your logic. Let's go to Bill Masters.

[Jim Minturn, CEO of CRH]

Bill.

[Caller/Investor]

Jimmy, I just want to an do honorable mess mentioned about Regina Gilligan. When? When you invited me down to the monthly meeting with the Jensen Wong. The CEO of Nvidia.

[Jim Cramer]

Yes.

[Caller/Investor]

I never imagined how hard the show was produced. Nothing but respect for you and her. Jim, I'm interested in a regional bank. First Horizon, please Sir.

[Jim Cramer]

Well, first I'm going to tell you the truth. This show doesn't work without her. Okay? And that's what you you saw. Doesn't work without her. Now to your question. First Horizon. I think it's a terrific stock, very inexpensive and I think you should buy it. Let's go to Marianne in New York. Marianne. Hi, Jim.

[Caller/Investor]

I mean I'd love to get your thoughts.

[Jim Cramer]

Hi, how are you? Good. How are you doing? Good, good.

[Caller/Investor]

I'd love to get your thoughts on Nike, I think.

[Jim Minturn, CEO of CRH]

Okay.

[Jim Cramer]

I mean the problem with Nike is it's trying so hard to get things turned around but there's a lot of competition. I think it's just okay. We sold it for the travel test because it's just okay. And we don't want to own just okay. Let's go to Will in Colorado. Will.

[Caller/Investor]

Hey Jim, I need a bottle of your Better House Mezcal.

[Jim Cramer]

With all this market volatility now, I got to give that a try. Sometime, but want to know your thoughts about Kemper Insurance. Knpr. Well, first I think you should try to. You should try to post force kill if you want, but at Will and Caroline's wedding, it was dynamite this week. Yes. My steps up. Fantastic. I need to say to you right now that Kemper is not a stock one owned. I don't want to own that 4% yield. I need growth. I don't have growth, so I'm not going to stick with it. But I will stick with Kramer.

[Mad Money Announcer]

The lightning round is sponsored by Charles Schwab. Coming up, Cramer's issuing a dire warning about data center stocks. You would be wise to listen. Next.

[Caller/Investor]

Hey, Jim.

[Jim Cramer]

Your mission has been very successful in our family.

[Caller/Investor]

I listen to your show multiple times a week for investing knowledge.

I just want to say thanks.

[Jim Cramer]

I love your show.

[Caller/Investor]

Thanks for always looking off the.

A huge thank you for all you've done to make me a better investor.

[Jim Cramer]

I gotta call Kramer because I can't make a move without this guy. I want to make people better investors if they make money. Fantastic. Let's go to work. Hey, how much of your business is a data center? Anytime I met a CEO, pretty much any CEO, except for the obvious service companies. I always wanted to know the percentage of their business that flowed back to the data. Greatest building boom, the golden age. The construction of these multibillion dollar behemoths that generate all that compute for a long time was an unmitigated positive. That's why I asked the question. These days, though, I have to know how much of a company's business is data center. Not because of the growth, but because it needs to diversify away from the data center. So many companies are involved in building these projects. If something goes awry, some customer may be a hyperscaler, decides it doesn't want to keep spending or can't afford to keep spending. Then that company stock could be in tatters. Today I asked the CEO of a rock company how much data center business. Small amount. It helps, but his stones primarily end up in roads. You can't let the roads run down. We all know pothole theory. You need CRH for the stones to resurface roads so the potholes don't break your car. Yes, it provides the rock. You can be at the base of a data center, but rock could be at the base of anything. Bridges, office complexes, semiconductor foundries. They diversify because they're smart. At this moment, we want smart. Look, I run a charitable trust. We own positions in datacenter plays where the pain is immense right now but we've taken profits in so many of them that I sometimes feel like we're playing with the house's money. Other stocks we own like Apple are beneficiaries of all this compute because they never spent big on AI. They're reportedly paying Google $1 billion to use their AI model just a fraction of the 20 billion or so that Google pays to them as to be the default search engine on their iPhones software. Stocks are gaining steam again because they are more oriented to well AI and their stocks have come down so much. I told people this morning that once again that we want tech but not the kind of big tech investors used to buy. We want materials tech and we want science tech. I saw a guest on a show earlier today it said a huge amount of the market is data center but there's not much else to buy. I say come on there's you just got to hunt a little for it. Doesn't mean it's a terrific market but it's a market of stocks and there's some that's going to go higher. Look at the Dow today. I talk about this endlessly and how to make money in any market because the kind of market well that we have is exactly what I was writing for now if you own terrific tech stocks and you're not on margin you could be fine assuming you can handle a little pain. If you're a margin get off it. I know you feel that you're going to get out alive if you're speculating I know many of you are then making so you're speculating only one or two stocks depending on the size of Listen when I see what's happening in tech I can't help think of what happened when I bought a.com public company public in 1999. So many.com companies adjacent companies were so confident that they do well in that environment. They were paying for things with basically free money or they thought it was they were giving vendor financing so everybody, any customer could afford to keep paying for the product. Similar to what we're hearing right now with some of the big dogs it all seemed terrific. Then In March of 2000 the market turned on a dime. By April was obvious that the companies that look like great credit risk were going to go under. More than 330 of them did. Could it happen again? I don't know. I say maybe, but it won't be growth health companies or growth materials companies or growth retailers. These are easy to find if you can't find any join the CBC Investing Club and if you are borrowing money to buy something related to the data center, okay, here's what you're going to do tomorrow morning, 9:30am sell it. No matter what. You will not regret it. I like to say there's always a bull market somewhere.

[Caller/Investor]

I promise.

[Jim Cramer]

I find it just for you right here on that money. I'm Jim Cramer. See you tomorrow.

[Mad Money Disclaimer Narrator]

All opinions expressed by Jim Cramer on this podcast are solely Kramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates, and may have been previously disseminated by Kramer on television, radio, Internet or another medium. You should not treat any opinion expressed by Kramer as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Kramer's opinions are based upon information he considers reliable, but neither CNBC nor its affiliates Anderson subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. To view the full Mad Money disclaimer, please visit cnbc.com madmoneydisclaimer Confidence it's listening to your gut.

[Pacific Life Insurance Narrator]

It's moving forward, even when the path ahead is unclear. For nearly 160 years, Pacific Life has helped people keep their promises, building confidence for generations. Whether you're confident in your financial future or just beginning to envision it, we're here to help. Ask a financial professional how Pacific Life the Power of a Promise Pacific Life Insurance Co. Omaha, Nebraska and in New York, Pacific Life Annuity, Phoenix, Arizona.