Mad Money w/ Jim Cramer – September 30, 2025

Episode Overview

In this episode, Jim Cramer channels his passion for demystifying Wall Street to empower individual investors, especially on the release day of his new book, How to Make Money in Any Market. The main theme is the power (and pitfalls) of stock ownership—especially holding individual growth stocks for the long term versus index investing or speculative trading. Cramer also details his bifurcated portfolio approach, shares touching listener success stories, unpacks major market and economic headlines, spotlights Paychex and ArcBest with CEO interviews, takes listeners through technical analysis of private equity firms, and ends with the iconic Lightning Round covering a slew of stocks. The episode is a celebration of investing optimism and a cautionary tale about trends, trading, and reaching for yield.

Key Discussion Points and Insights

1. The Transformational Power of Individual Stocks

• Long-Term Holding Beats Trading:
  Cramer stresses that holding onto great companies for years—rather than timing markets or trading frequently—is how real wealth accumulates. He cites numerous stories from fans who saw transformational gains, often from a single stock they held for the long haul:

  "One stock can create tremendous wealth for you, provided that you own it for the long haul. You don't trade in and out of it and you let your gains compound." (01:46)

• Nvidia and FAANG Success Stories:
  Cramer shares personal anecdotes, like renaming his dog "Nvidia" in 2017 to draw attention to the company's generational potential, and highlights how early FAANG picks (Facebook, Amazon, Apple, Netflix, Google) massively outpaced simple index investments.

  "The stock at the time was at a split adjusted price of just under $4 back then. Now it's at $186 and change, new high." (03:12) "If you invested $1,000 in S&P index fund when we created FAANG here, well, it would have been worth almost $5,000. ... If you invested in Netflix $36,000." (05:12)

• Rebutting Index-Only Orthodoxy:
  He calls his book "the most radical tract you're ever going to read about your finances," pushing back on Wall Street’s prevailing belief that individuals can’t beat index funds.

2. Portfolio Construction: Bifurcation and Discipline

• Jim's Portfolio Method:
  He advocates for a blend—half in index funds, half in five selected stocks (including one as an informed speculation), plus some insurance (gold, crypto, etc.).

  "I suggest a bifurcated portfolio where you put half ... into an index fund ... The other half goes into five stocks, including one informed speculation." (06:12)

• Regular, Disciplined Investing:
  Cramer urges listeners to consistently invest ("putting a little money away each month") and to avoid frivolous expenses in favor of market participation:

  "Skip the triple Vette cappuccinos with skin wet and put that money in the market." (07:20)

• Focus on Growth, Not Trading:
  He’s adamant about growth stocks, especially for young investors, and asserts compounding is most effective when you "own these things, not trade them."

3. The Knowledge Gap Facing Younger Generations

• The Great Wealth Transfer:
  Cramer notes an "unprecedented $1 trillion" is moving from baby boomers to millennials and Gen Z, but sees little financial hope or investing knowledge in these inheritors.

  "We're witnessing the greatest wealth transfer in history ... to millennials and gen zers who don't know how to invest... They have no concept of using compounding." (08:00)

• Access to Tools and Information:
  He marvels at how much easier it is to research companies today (“chatbots every day ... A company’s website has so much ... all at your fingertips”) compared to when he started.
• Family Lessons:
  The episode includes touching stories about how his parents’ investment choices alternately succeeded and failed, underlining the importance of education and understanding valuation.

4. Real Market Sentiment—Not Getting Distracted by Sideshow Events

• Ignore the Noise:
  Cramer dismisses fixes on government shutdowns, Fed/President spats, or seasonal “bad months” like September.

  "We make too much of the sideshows and not enough of the boots on the ground business realities." (03:04)

• Case Studies of Market Resilience:
  Even on days of modest index moves, “millionaires made today”—but only if holding quality stocks through volatility.

Notable Quotes & Memorable Moments

• On Stock Picking vs. Indexing:

  "The general attitude on Wall Street is that you aren't smart enough to build your own portfolio..." (06:05)
  "I'm not going to patronize you and say that you can't possibly figure it out. Instead, I show you how the pros do it because you deserve it." (10:22)

• On Trades and Hope:

  "You can't grow rich trading in and out of the best stocks. You will buy high and sell low. I promise you that." (07:47) "...if you have so little hope, you won't invest even a little. ... I lived in my car ... I believed I could have more money than my parents." (09:13)

• On Dividend Stocks:

  "What else can stop a bear in its tracks more than a dividend that's very large?...When the yield was 5 or even 6, it didn't stop the stock from going down, did it? ... those are the ones in the danger zone." (43:45)

Key Segments & Timestamps

[01:40] — Cramer’s Opening Monologue

• Investing for wealth, not just entertainment
• Success from holding stocks long-term

[14:13] — Interview: Paychex CEO John Gibson

• Paychex's Resilient Results: 17% revenue growth, EPS beat, stable small business job growth
• Market Misunderstanding: Stock sold off but bounce signals stability
  • "We're off to a strong start...we delivered 17% revenue growth. Not too shabby." — John Gibson (14:47)
• Small Business Environment: Robust, with wage inflation under 3%, no recession signs
• Impact of Legislation: Tax credits and clarity increasing business confidence (17:31)
• Tariff Impact: Some sectors see modest hiring slowdowns but no mass layoffs
• Paycor Integration: Beating synergy targets, cross-selling, expanding into larger client base (19:58)
• Government Shutdown: Seen as minor unless prolonged

[22:48] — Chart Analysis: Private Equity Stocks (with Bob Lang)

• New rules let more ordinary investors access private equity vehicles; interest rate cuts also help these firms
• Carlyle, Blackstone, KKR, Apollo all analyzed—Lang calls the pullback a "buying opportunity"
• "Lang says: time, time to buy. He sees Carlyle moving up to $80 in a few months and possibly $100 by next year." (24:35)
• Cramer is cautious, suggesting one could just buy a big bank, but technicals look attractive for Carlyle & Blackstone

[31:52] — Interview: ArcBest C-Suite (Judy McReynolds, outgoing CEO, and Seth Runser, incoming CEO)

• Management Succession: Judy emphasizes leadership development; Seth highlights company continuity, growth, and tech strategy
• Tech Differentiation: VUE and Vox platforms give customers full logistics visibility and operational efficiency (33:16)
• Freight Recession Context: Weakness tied to manufacturing/wholesale softness; ArcBest focuses on managed transportation and diversification (34:44)
• Impact of Tariffs: Customers look to ArcBest for supply chain optimization amid disruption
• Automation & Workforce: Balancing labor concerns with future tech, human oversight remains key (37:25, 38:52)

[40:00] — Lightning Round Highlights

• Arista Networks (ANET): Cramer bullish, calls CEO “unbelievable”
• Applied Digital (APLD): Too risky; better to own Nvidia
• Margin Use: "Margin. I wouldn't even use it in the game of Monopoly...No."
• Sprouts Farmers Market: Issues with the stock, prefers Costco
• Ramaco Resources: Will research before giving an opinion

[43:45] — Dividend vs. Growth Stocks

• Warns against "reaching for yield"—high yields can be a red flag
• Cites Conagra, Campbell's, UPS as examples where high yields might signal trouble
• “The only real safety is owning a stock that has a company that’s growing...growth is the real only magic elixir. Yields, not so much.”

Summary Takeaways

• Stay Invested in Great Companies: True wealth comes from holding, not trading, the right growth stocks, even through tough times.
• Be Thoughtful in Portfolio Construction: Blend index and individual picks, add a dose of insurance, and invest regularly—don’t chase trends or over-trade.
• Do Not Reach for Yield: High yields may indicate risk, while real safety lies in companies that are actually growing.
• Small Business is Resilient: Despite macroeconomic fears, on-the-ground employment and confidence remain robust in key segments.
• Private Equity May Offer Opportunity: Recent pullbacks could be buyable; technicals look good for selective firms like Carlyle and Blackstone.
• Leadership and Technology Matter: Companies (like ArcBest) that innovate and focus on managed services may weather industry downturns better.

Additional Memorable Quotes with Attribution

• "Skip the triple Vette cappuccinos with skin wet and put that money in the market." — Jim Cramer (07:20)
• "Our managed transportation...has grown 45% compounded annual growth rate since 2017 when we birthed that." — Judy McReynolds, ArcBest (35:26)
• "The only real safety is owning a stock that has a company that's growing...growth is the real only magic elixir." — Jim Cramer (45:04)

This episode is vintage Cramer: energetic, anecdotal, and actionable—championing the retail investor’s potential to achieve, but always urging clarity and discipline over hype and hearsay.