Mad Money w/ Jim Cramer 04/11/25
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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. I'll be your friends, just trying to make you a little money. My job, not to entertain, but to educate, teach, context. Call me, 1-800-743-CBC. Tweet me, Jim Kramer. Rumor.

innuendo, intrigue. These are the stuff of great novels, of fabulous miniseries, riveting plays. And now they're the stuff of the stock market. Yes, this tape has it all, doesn't it? The White House throws so much at you at all hours of the day. We have press conferences, true social posts, offhanded statements that move trillions of dollars in and out of bonds, of currencies, of gold, of crypto. We've got contradictions galore. Danu Mall's all over the place. Except this isn't an eight-part blockbuster. It

It's our money. You know, it's gotten to the point where any time you see the market go down or up big, a tweet's behind it. It's a tweet that can unleash trillions or shed the same amount, as it did all day today with the drama ultimately sending the Dow up 619 points. Well, they had to be game on playing. Here we go again with the Nasdaq rally, 2.06%. Nice comeback from yesterday's absolute ugliness. The house of.

Is the market trying to find a liberation day bottom? That's what I was thinking about today. You know, kind of moment when stocks stop cascading because we know finally all the bad is in.

Not sure. I'm just not sure. I'm going to think about it all weekend. You know, and I know this weekend we're going to get some market moving statements because if you ever notice, the weekends don't provide any more relaxation anymore because the president's got advisors. He's got to put people out. He wants to tweet. He's got meetings. No relaxation time. No downtime. Maybe this weekend. I don't know. Monday's trading. Well, let's just say that it looks like that it's earnings season. So it's going to be even harder than usual.

Oh, my. All right. Well, let's start with Goldman Sachs, right? That's what it's. It's the first bank stock. It's the first stock that reports this week. And I've got to tell you, it doesn't report on Monday. It's interesting. JP Morgan sold the show today with a monster good quarter. Wells Fargo was too run in the mill. That one hurt me for my travel. So I don't know. You should look at your bullet. It's really important to be put out. Morgan Stanley better. Goldman's by far the most controversial. Why? Because as an investment bank,

Its business can be pretty episodic. I think Goldman can do it because Goldman's a change firm, one that's no longer gripped by the picaresque tradition of Wall Street. I bet CEO David Solomon can deliver on the top and bottom lines. And the top because of trading. That used to be their forte. And the bottom because of rationalization of the bank's table of employment. Basically, they can beat the numbers by firing a bunch of people, which they've been doing. It's smart to do that. We're in a different market.

Tuesday, we hear from two more big banks. And by this time, I got to tell you, when we see the numbers from Bank of America and Citigroup, our eyes are going to glaze over. They shouldn't, but they will. I think the Bank of America will be the usual fine self. And Citigroup's gotten so loved that it's probably going to roar no matter what is said, such is the admiration for CEO Jane Frazier. And she certainly earned it.

The drug stocks have been having a huge conundrum, right? I mean, they have to dance to the tune of a new FDA, which falls under the purview of a different kind of guy, RFK Jr., at Health and Human Services. He's not exactly pharma-friendly. Meanwhile, they're supposed to be manufacturing all their drugs here or else they'll be hit with big tariffs.

Vaccines are no-nos, at least allegedly. Monkeys are not to be used for testing anymore. It should be used, AI should be used. And in the case of Johnson & Johnson reports Tuesday morning, we get an update on the firm's legal strategy against those suing the company for cancer that was allegedly caused by J&J's baby towel powder.

This stock has been stuck in a range forever. It's a wide one, but at least it's not in a perpetual downturn like some of the other pharma companies. I think it could reverse course and break out as long as we get some big news on any new drug. And by the way, it has a lot of great drug franchises, more than almost every other one.

After the close, we get to hear J.B. Hunt talk about how the freight race recession continues. Now, these guys are their own worst enemies. I'm on their call all the time. They are so downbeat. It's incredible. It's like they're down on themselves. I want to send them, I don't know, the Michelin man down there. Give him a couple of laughs. They need some help. Please be more upbeat. Wednesday morning, Robert Ford from Abbott Labs.

We'll tell his usual terrific story about the company's strong franchises while having to mention the special baby formula lawsuits that have hurt the stock's valuation for such a long time. It was 14 points higher not that long ago during that ridiculous rotation when I told you I had to sell some. These stocks are now all the way back down. That rotation was horrendous. And I still like to find out what firms did that because they should be kept away from anybody's money. ASMO Holdings, look,

that's a Dutch company. It's a crucial semiconductor capital equipment business. It also reports, and I fear that it will miss, as it did last time, causing all the high-end semiconductor stocks to roll over. By the way, AMAT was up big today. That would go down big if ASML misses. Talk about opaque. I don't even know if these guys know how they're doing right now. It is such a complicated company. We've also got retail sales. Now, I keep hearing that sales were weak, and

And this month's been strong because of demand being pulled through ahead of the tariffs. But I don't know. I looked at Walmart, Amazon and Costco and their businesses were all really strong in the month of March. I bet the retail number is strong, too. And the long term interest rates might even go higher than they did this week. This week, I should have pointed out that interest rates went up so much this week that it really disturbed a lot of the trading. A few minutes after 2 a.m. on Thursday, we get to listen to Taiwan semiconductor talk.

talk. Now, lots of people think that this call has become a proxy for Nvidia, which is this is Nvidia's foundry. If it's strong, Nvidia flies. Now, that linkage is now antediluvian, and it hasn't held up under close scrutiny in the last couple of quarters. Well, I'm going to listen, but this time only for the color on the entire semiconductor space, not as a one-for-one for Nvidia.

How about a gimme? I think this company is the only gimme that I see this week. This is as close to one as you're going to find. Not too high. Price earnings multiple. Not yet overly loved. Purely domestic business. Has pricing power. This is it. It's a universal buy.

We recently featured American Express as part of its 150th birthday celebration. Now, this is a company that trades on new card signups, especially from younger people. And I think that it will deliver on that strength when it reports on Thursday morning. Be careful, though, because American Express's stock trades badly the morning it reports. Badly meaning it doesn't reflect the fundamentals one way or the other. So it might drop eight points or go up eight points and then reverse. I just want you to listen to the call before you pull the trigger. Trust me on this. I know I'm right. Okay.

We also hear from Blackstone. That's the private equity firm on Thursday morning. Now, normally we wouldn't be all that focused on this one, but Blackstone has this gigantic data center business within the company. And we need to keep up on these because they are all sort. There are all sorts of doubters now about the data center. That had been a theme that I thought could last for some time. And right now people feel that theme is over. Now, Blackstone will tell us otherwise. It could help the bleaker stock of NVIDIA and a bunch of the companies like Avertiv.

if Blackstone is positive on data centers. Finally, after the close, Netflix reports. Now, we're lucky to have Friday off for Good Friday because studying the Hydra-headed Netflix call requires a huge amount of time. I always leave a lot of time for it. See, each time it reports, management talks about the role of its ad supporters, encryption tiers,

And the darn ad business is incredibly lucrative. It is what still draws me to the stock. There was a time when the Netflix quarterly conference call was the most exciting thing that happens to us in this business. But the bottom line, that was before the election. These days, nothing coming out of Netflix can possibly keep up with the endless drama from the White House. Krish in Pennsylvania. Krish. Hello? Yeah, you're up, Krish.

Yeah. Regarding Novo Nordisk, you know, Novo Nordisk has been doing well. Last year, 2024, it went up to 140, but it came down to 80 and now it is trading at 64. Is it a good buy?

I do. I finally got down. It got low enough when I hit 3.6% yield. It was low enough. Apparently, they're doing exactly what President Trump wants. I am a buyer at this point in Nova Nordica, although, of course, I do like Eli Lilly more. But this stock has come down enough. How about we go to Bill, Massachusetts? Bill. Booyah, Jimbo. All right, Bill, what's happening?

I needed your take on DuPont. Can you tell me what you think of DuPont? Yeah, okay, so DuPont, I'm actually going to write a piece about this. It's really interesting you mention this. DuPont is, and this is from my, you know, we have a club meeting next week.

DuPont is a good example of what happened in this market. They have one division, very, very small, that got investigated by the Chinese. That caused the stock to lose about a quarter of its value. It has not bounced back, even though the division is very small. Why? Because people believe that China is toxic. I can't. Jeff, Jeff, I'm going back and forth. We so much want to tell people to buy it. But who knows what the Chinese are going to do next if we keep at them and they keep at us. Let's go to Mike in Illinois. Mike, my bike.

Hi, Kramer. Thank you for everything you've been doing. I've been doing positions in the balanced portfolio since February of 23. Specifically, this one stock I'm in, I started buying May of last year of about 55% and have been following your rules about selling every 20%, 7 to 10, but I think it's at 7.5 to 10%. I sold at 20%, 40%.

I'm wondering if I should buy more, sell some, maybe get out totally or hold. And that's AEM, Agnico Mines. No, no, hold the rest. You've done the trimming. You've taken off enough for no profits. This is a remarkable company. We had them on, and I don't think it's done. I know it seems like a blow-off rally, but you've already taken some off. If you hadn't, I would tell you to take some off, but you've already done that. You've been disciplined. You have the luxury of letting the rest run. Let's go to Mark in Florida, please. Mark.

Hi, Jim. Thank you for taking my call. Of course. The semiconductor stock I'm calling about has been chopped in half so far this year, down from the 110s down to the low 50s. I realize the SOX is down 20 percent and the SMH is down 17. But Marvell technology down 50 percent is by far the worst performing chip. It's unbelievable. And Matt Murphy is so fabulous. He bought a lot of stock actually higher. They are doing everything right. But you know what?

They are up against some very good competition, and people feel that there's always going to be some Taiwanese company that's going to come in and visit them. It is now getting no credit for anything it's done in the data center. I think Marvell Tech is a buy. All right, listen, guys, we have to play with the hand we've been dealt. And for us next week, that means Ernie's season on top of all the drama from the White House. Likely one, let's just say, it's going to be another really hard week. How about that? I'll make money tonight.

As inflation fears rise and tariffs cause price uncertainty, which companies could weather the storm in the eye of the consumer? I'm talking to CEO of data company 100X to learn more. Then ahead of the Masters tournament this week, I'm teeing up a couple of golf-related stocks, seeing if they can bring you any green on the greens. Ha ha!

And as we come up on the most volatile weeks for markets we've seen ever, I'm turning the phone lines over to you and dissecting your portfolios in another Alabama-diverse fight. So stay with Kramer.

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Indeed.com slash mad money. Terms and conditions apply. Hiring. Indeed is all you need. As we brace ourselves for the 10% tariffs of the whole world and 145% on China, we need to ask ourselves, who can pass these new costs on to their customers? Who's going to be forced to swallow it?

Ultimately, someone has to pay the bill, right? And now every business involved is trying to make sure that it's somebody else to figure out who has the ability to make that happen. I want to check in with 100X. That's a privately held alternative data firm with real-time feedback from actual customers of more than 4,000 brands. They understand who has pricing power better than anybody because they're asking regular people about their purchase intent.

rather than just looking at historical data. So let's take a closer look with Rob Pace. He's the founder and CEO of 100X. Find out what he sees. Mr. Pace, welcome back to MadMuddy. Thank you. Well, I got to tell you, this survey was so great because everyone says, oh, I think they have purchasing power. I think that guy has it. I think that guy's got the right. You actually have data. So who has got the pricing power in America? Name me some companies. Well, at the top of the list is Costco. You know, we've talked about

Tractor Supply and TGAX. And there's 20, we have 20 brands. We have 4,000 total, but we call that 20 of the largest. And here's, let's step back. What is pricing power? So the- - Right, yes, let's go over that. - You know, the technicians talk about elasticity and things like that. I have a much more simpler definition, okay? You're my customer, I'm a business. Can I raise prices and still be your best option? Including if it's a discretionary category, you don't have to buy.

So when you put it through that lens, it becomes clear you gotta listen to the customer and it's all relative. It doesn't happen in a vacuum. And so that's what we focus on is who has that across all industries. - Okay, so give me the difference. I mean, it's somewhat, I think our viewers may not understand they got it in their heads, but the relationship between price and value, what's it driven by? And give me some outliers. - Yeah, so we studied what actually predicts pricing power.

And with the past period of inflation, we had a pretty good laboratory to look. What we found is there's actually five things your viewers should look at. First, pricing power, obviously price. But second is non-price. Do they do the most important things well? Quality, taste, convenience, et cetera. And that leads to value. Value is not price. It's the combination of price,

plus the most important things. And that's what people need to look at. Plus, we found a couple other wild cards that we'll discuss as well. What I do want to know is when I see something like Texas Roadhouse, and I think that

And I happen to like that cereal. I think $10 meal. That tastes good. I mean, is that – but they're not giving you – they're not charging you $20. They're charging you $10. I mean, so to me, that's just value, and you're paying a decent price for value. Stock has not been terrible that great, but we're not going to talk about the stock. You're saying that these guys say could they raise the price to $12 for that $10 meal? Yes, and here's why. Why?

So, when we look at every metric, they outperform on price, but exactly what you said, taste, portion size, and attitude. So, they provide a superior value. So, you put that together, and relative to the competition, and that's how we look at it, relative to 200 other restaurants, do they have the ability to raise price? And in our data, they do. Well, but is it circular reasoning in the sense that the reason why people like them is because they don't raise price?

Well, they have taken prices. They have taken minor prices. Right. But at the end of the day, these companies are all going to be hit, exactly what you said, with increases. And some are going to have to eat it, and it'll all go to the bottom line, drop to negatively the bottom line, and some will be able to pass some of it through. Well, let me ask you the most complicated question I find right now. Is there a price that the iPhone gets to because of the tariffs that makes us all switch to Samsung?

We've spent a lot of time looking at the iPhone. And this was a very important insight. So one of the things we found, Jim, was it's not just price and value because in our data, the iPhone is like negative 40% on price because it's a premium product. Right. But the value scores are still negative. But the spread between price and value is so big. In other words, they make it. Explain that to me. I don't get it.

But they make up almost all of it in our data with the value. That spread tells us that they have some degree of pricing power. So in our data, the iPhone has...

above average pricing power. Do they go to $2,000? No. But do they have some pricing power? Yes, is what our data would say. That's important because I believe that at a certain point, if you don't give Apple some sort of break and people tack on, say, $300, $400, there's got to be some price where people just say, you know what? I have to say no. Let me try a Samsung. Maybe they have a good experience with Samsung. And that's the end of the aura of Apple.

Yeah, and certainly also the upgrade cycle due to AI gets postponed at a minimum, right? People just hold on to their product longer. Right, that's right. That's what they could do. Now, when I see Tractor, I happen to like Tractor Supply. I go there. Tractor Supply is now run by someone from Macy's. It's got what I regard as being a great clothing selection for people who don't know what outdoor people look at. How did this company get...

on your list. So look at the factors. They are plus 25% versus specialty retail in terms of price feedback, but they also do availability selection because they get their customer. So they really get their customer and it's whether it's pet or other things, they do a good job of aligning with the customer and that makes them sticky. That's fascinating because when I look at them, I think

When I go to one, I've gone to a two in New Jersey. I'm shocked that they have what I want. And it's how long it used to be at me. How do you know? But that's it's there's a bit of intuitive nature for some of these situations. Southwest had a certain way of doing things. It's still up.

But they've changed their model. Is that going to be okay? Well, we'll see. Here's what our data says. Their purchase intent, which is our key metric, last month is down 1%. So they're starting from a high base. But we haven't seen the baggage chart changes flow through. That's in May.

So we're going to watch very carefully. Where companies get slammed is when customers are moving away and they raise price. That's one of the big insights that we found in addition. It's almost like your position heading into a stock. Are people moving away? And so having a view of that future purchase intent and then understanding that was one of the key discoveries as we did the analysis. One last question, staying on Southwest. I am a huge believer that everyone thinks it's free. We give them the bag.

The day that it's not free, the people behind the counter are suddenly ambassadors for a system they had nothing to do with, and everyone's angry at them. And then it reverberates, and by the end of the day, they're angry, too. I mean, it's got to be—

It's got to be a public relations disaster the day that it occurred, you know, that people have to switch. Well, what we saw, as you know, they've also changed the seating. We saw on our data that that was a smart move. People actually didn't like that legacy system. But their baggage scores are over 50 points higher than their competition. They are? Yeah, and that's a

big part of their value proposition. So what they have to watch for is the double whammy. If they change baggage and prices happen, they could see a lot of migration away. Wow. Okay. We're going to watch that closely. And we love these because we are at the cusp of some major price changes. And no one knows you've given us the heads up. And I really appreciate it. That's Rob Pace, founder and CEO of 100X with some fascinating data exclusively from MadMoney. Thank you so much, Rob. MadMoney's back after the break.

Coming up, at the end of another tough week, looking for some green? Kramer's eyeing the fairway to see if an investment could be a hole-in-one for your portfolio. Next.

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For your small business insurance needs, like a good neighbor, State Farm is there. We have mercifully reached the end of another tough week. And I hope you can use the weekend maybe to take a step back from the markets, relax, try to have some fun perhaps. Now that spring has arrived for many, that means playing a round of golf. Or at least watching this weekend's Masters Tournament at Augusta National.

Every time this tournament comes around, I like to do a rundown of the golf stocks. One of which has been a big winner for us over the past decade. That's a Christian at Holy's. That's a parent company of Titleist, Footjoy Brands. Titleist is a leading golf equipment brand, making one of the most, the game's most popular golf balls, as well as golf clubs, apparel,

and accessories. Footjoy is for golf shoes, but it also makes apparel and accessories as well. Finally, a cushion that also owns a few other smaller brands, including Folky Wedges, Scotty Cameron Putters, Pinnacle Golf Balls, and Juice Apparel, although those are marginal compared to the two big brands. This stock has been a long-term outperformer, climbing fourfold since it came public in late 2016. That's after the stock's been pulled back pretty substantially from its all-time high in January. Of course, it doesn't just go up in a straight line.

The one-year chart shows some big swings for CushNet, which reflects some inconsistent quarters last year. Basically, the year started slow but picked up nicely as time went on. After CushNet announced much better than expected third quarter numbers in early November, the stock bounced right back. By December and January, this thing was once again setting new all-time highs.

When a cushion reported again in mid-February, though, the results were more mixed. Revenue came in a little light, up nearly 8% year over year. Earnings were better than expected, but the company racked up a $0.02 loss rather than the $0.33 loss that Wall Street was expecting. Now, by the way, do not sweat the fact that this golf company typically reports losses in the fourth quarter. Think about it. It's a seasonal business. A cushion typically makes all of its profits in the first three quarters of the year. Basically, not many people play golf in December.

Making things worse, Acushnet issued a similarly mixed outlook for 2025, slightly worse than expected sales guidance, and a basically in-line EBITDA forecast. Unfortunately, growth is clearly slowing in mid-year. After sales grew about 4% last year and 8% in the fourth quarter, the 2025 sales guidance works out to roughly around 2% growth, though it's closer to a 4% growth on a constant currency basis. Now, I'm not all that worried about Acushnet's softer outlook, especially because this company has a tendency to provide conservative guidance

And then more often than not, beats the numbers. But the quarter was a negative catalyst for the stock, especially because the broader market itself was well underway at that point. Sell, sell, sell, sell, sell, sell. The recent market meltdown has been particularly hard on consumer discretionary stocks. And it doesn't get much more discretionary than golf, does it? At the end of the day, a cushion that didn't give people enough reason to step in and to try to buy the stock in an admittedly tough environment.

However, if you actually listen to what the company said on a conference call, the story sounded a lot more positive. For example, Kushner's guidance for 2% sales growth tracks with the 2% increase in golf rounds played in the U.S. last year. But as CEO Dave Maher pointed out, those rounds were played across roughly 16,000 courses in the country, which, by the way, is down around 1,500 from the turn of the century.

The number of golfers actually grew 6% last year. That's big, right? Biggest single-year increase since 2000. The number of beginner golfers topped 3 million last year for the fifth consecutive year. Furthermore, with its earnings report, a Cush Network announced a new $250 million buyback plan. Not insignificant. This is only a $3.65 billion company. Also raised its dividend by 9.3%. Okay, the dividend flat 1.5%. No one's going to mistake this thing for a yield play. But these two moves signal a real up and down.

They give you a level of confidence in management and certainly management feels confident about the business. Overall, I think that Acoustic is another example of a quality story that's been brought down by the overall aversion to the consumer discretionary sector during this period of uncertainty. Given how bad the market's been, there's no reason to be a hero and make any drastic moves now. But this is a name that you should be thinking about buying into additional weakness. All right. So how about the other main golf stock?

Oh boy, this one's controversial. It's called Topgolf Callaway Brands. Now, if you might remember, we covered it in the fall when the company announced plans to break up, undoing that transformational merger in 2011 where Callaway, a golf equipment and apparel company, acquired Topgolf, a high-tech driving range and bar concept, and a deal that valued Topgolf as essentially on par with the core golf business. Sadly, the popularity of Topgolf

Topgolf fizzled after the pandemic. I loved it, but what do I know? And the company got too aggressive with pricing on that side of the business, which led to some very bad numbers when the consumer started to soften last year. I think they misjudged. The core Callaway brand suffered, too, as the combined company basically focused on Topgolf. I mean, I told you the Callaway side of the business might be interesting as a value option once the breakup was complete, but there wasn't much to be interested in until then. In the end, it was just a big swing from Callaway that didn't work out.

a corporate tragedy leading to the Wall Street equivalent of a broken home. As for an update on the situation, well, there's nothing good to report. Since the announcement of the split, Topgolf Galloway has simply seen its stock go lower and lower and lower. Now, I generally feel the same way about this one as I did in the fall. Maybe the Galloway side of the business might work as a value option once the breakup's completed, likely in the second half of this year. But until that's done, there's no reason to go near this one.

Given the state of the consumer and the potential for a recession, we feel even more negative about the top golf side of the business. If you want golf exposure, a CushNet is much more straightforward as it's not joined at the hip with a struggling driving range business. Which brings me to the bottom line. As we head into the Masters weekend, I continue to have one golf stock that I like very much, a CushNet Holdings, which is now giving you a pretty good entry point after everything consumer discretionary has been cast aside these past two months.

Topgolf Callaway brand remains a double bogey of a company. Shouldn't be owned for now, although I'm going to reevaluate it when it finally finishes its breakup with Topgolf, maybe in the second half of this year. I want to go to Nick in Oklahoma. Nick! Hey, Booyah, Jim Cramer. How are you? I am good, Nick. Booyah back at you. What's going on?

I'm a little concerned about Carvana after Carmex report, and I purchased it at $183. Should I hold it? Go ahead and hang on to it? Yes, I think that they're two very different animals. One is really a great science study of...

of used cars and how to get the price down and sell them at a good margin. That's Carvana. And the other is just a very traditional good company. But a very traditional good company is not going to be able to do well against. Well, there's enough room for both Carvana and Carmax. But Carvana has got a different model. And I really like the model. And I really like Ernie Garcia. And I want you to, if anything, buy more of that stock. Sam in Wisconsin. Sam. Hey, Jim, how are you? I am good, Sam. What's going on with you?

I've been in, I bought Kraft Heinz since 22. What's your thought? Shall I get rid of it or it's been going down? Waste of your capital. Waste of your capital. There's so many great stocks that have come down. I mean, unbelievable stocks that have come down so much that I can't believe it. And I think you just got to change. I mean, look, we're looking at, for instance, Bitcoin.

Texas Roadhouse, okay? This one's come down gigantically. It is now incredibly inexpensive, and it's got what I regard as being a fantastic value proposition. I'd much rather see you in that than I would see in Kraft Heinz. All right, the recent slowdown has been hard on consumer discretionary stocks, as we know, and it doesn't get more discretionary than golf, does it? But if this weekend's tournament piques your interest in the industry, a KushNet is a pretty good entry point here. Much more money, including the latest round of Am I Diversified? You just give me your portfolio, I'd see it on the tape, blah, blah, blah.

And as we gear up for the full-blown trade war with China, I reveal some stocks that could hold up best amid all the uncertainty out there. And all your calls rapid fire tonight's edition of The Lightning Round. So stay with Kramer.

I always say that the key to success in this market is having a diversified portfolio. And that has never been more true than this week, has it? All kinds of stocks have been up and down all around across sectors and themes. And if you weren't diversified, you might have missed out on the pockets of green in this tape. So that's why we're going to play Am I Diversified? This is where you call me. You tell me your top five holdings. I tell you if your portfolio is diversified enough. Maybe you need to mix it up a little. Let's get started with Jack in South Carolina. Jack, you're our first caller. What do you got for me? Hi, Jim. How are you today? I am doing well, Jack. How about you?

I'm doing great. First, I want to give a shout out to my wife, Haley, for putting up with me listing mad money every single night. Well, she's obviously a saint.

She is. She is. Hey, I'm a 30-year-old looking at the long term. My top holdings are Lamb Research, Apple, Microsoft, Starbucks, and Costco. Am I diversified? Okay. Now, you're 30, and long term is a great thing to look at. You've got a very good portfolio for long term, but that does not mean that we can forget that these are three tech companies. And I'm

And I'm going to say that you can keep Microsoft and Lamb Research because this is semi-cap equipment and this is software. I'm going to hold off on Apple because, as I said this morning in the club meeting, you know, if the government hates Apple,

Let's say the government will not give them any exemption. Then you're going to have a hard time owning that stock. So I've got that caveat on there until we get close to see what the government's going to do. We're going to keep Costco, obviously, and they have a really unbelievable rating system that we've been looking at. It says Costco is the number one pricing power company in the country. Starbucks making a major, major comeback with Brian Nicol, later Chipotle. And I think we'll be fine. If you want to put something in here that would make sense, I would put Eli Lilly in. I think you use a little healthcare. That would be the right move. And, uh,

Thank you to your wife for letting you watch me. All right. Let's go to Mike in Pennsylvania. Mike. Jim, how are you, buddy? Oh, man, I'm good, Chief. How about you? I'm doing good. Hey, listen to the to you in favor this morning with Larry Fink. Thought that was great. And thank you. Yeah. How about a Larry? How about a Larry Fink, Jamie Diamond 2028 ticket? Oh, wow. I mean, that would be unbelievable. But then it would be somewhat Wall Street centric, I think.

I know. I just brought it out there. I know. It's regular people. Regular people. We've got a Queens guy, a guy from L.A. Not bad. All right. Let's go to work. All right. So let's go. So I have Otter Tailwind, O-T-T-R. Ooh, I like that company. I have GE Healthcare. I have NVIDIA. I have Amazon and Chipotle, Mexican Grill, CMG.

All right. Now let's look at this. OK, GE Healthcare. We're going to get rid of GE Healthcare because it fails a test that has become really important for me. It's got too much China. That will put Eli Lilly in there. OK. Chipotle is doing it's kind of stalled because maybe because a little higher price point. But we're going to keep that in. We like that. NVIDIA own it. Don't trade it. Amazon, they're different enough. That's OK, because we're going to say this is a retailer and an option.

and web services company. And Otter Tail, one of the great, probably the strongest, isn't this amazing? That'll be the strongest utility, be the strongest point of this entire portfolio because that's how upside down this market is. So the only change you need to make, but you must make it. This one is not going anywhere. And it crushed my charitable trust. Okay, next let's go to Peter in Texas. Peter. Hey, Jim, am I diversified? Yes, let's go to work. All right. How's it going, Jim?

It's not bad. How about you? I'm just hanging here. I'm just thinking about your Eagles, man. They're diversified. I'm glad our Texas boys are able to help you guys get to the championship twice with Nick Foles and Jalen Hurts. Well, it's been Howie Roseman the whole way. He's the brains behind that operation. And now we're going to do Am I Diversified. Let's go. Let's go. All right. So I've got Anto, Dow, the Trade Desk, Broadcom, and Marvell.

Wow, man, you got a lot of tech there. Like, way too much tech. We're going to have to do some major surgery here. This is, you know what, this isn't general anesthesia. What can I say? Okay, tech, but we're not crazy about tech, that particular tech. We're going to put Eli Lilly. I'm going on Lilly-centric here today, okay? Then we've got Trade Desk. They missed the quarter so badly. Uh,

We're going to use GE, Vernova. We want a little aviation. Dell, oh, man. Okay, Broadcom is buying back $10 billion. You'll see why I'm doing this. $10 billion up worth of stock between here and the year end. It's the second best performing stock in the S&P this week. Sorry, Matt Murphy. We can't have both Broadcom and Marvell. They're too much in the same sector. So what we're going to do here, instead of...

But I'll tell you what we're going to do is Lindy. That's right. We're going to use an industrial that I want. And then for tell. Oh, my God, Michael, I'm so sorry. I've got to do this. But I'm going to put in there. You know what I want? I want I want to try FedEx. Bear, hear me out.

Fed has just had a great deal, as if we're not going to have any trade with China. That's a coil spring. I want that optionality. You have a lot of optionality names. I'll give you an optionality name out of transportation. All right, next up, let's go to Tony in Florida. Tony. Hi, Jim. I want to thank you because we really need your wisdom and your expertise to get through this market. Sure trying, buddy. Sure trying. Thank you. Sure trying. How can I help you? Well, the five stocks I have is Palo Alto.

Home Depot, NextEra Energy, NEE, then I got AVGO, Borgcom, and BlackRock.

All right. Oh, I like these. I like these. A lot of a lot of a lot of travel trust names here. All right. BlackRock had a great quarter and much better organic growth than people realize. The stock's giving up 100 points today. I kid you not. Larry Fink, it's your financial. It's more of a fintech. Remember, you don't have a lot of credit risk there. Home Depot, I'm surprised how much that stock's come down. That's because people feel that there's just no doubt about it. Mortgage rates are going back up. It's not levered to mortgage rates. It's levered to renovation and rehabilitation of homes that should stay in it.

NextEra is actually a very good utility all the way down. I think it's a nice choice by you. Palo Alto, a charitable trust name, and no conflict here. We're going to say that cybersecurity is different enough from Broadcom that we'll keep them both. Again, Hawk Tan with the best timing I have ever seen to announce a buyback at the exact bottom, and he wham-a-jammed the shorts. And thank you very much. You may have money. It's back next week.

Coming up, Kramer takes your calls. And the sky's the limit. It's a fast-fire lightning round. Next. It is time to talk to the lightning round. I'm Chris Ramsey. I'm going to start with Hermes in Florida. Hermes.

Hey, big booyah, Jimbo, and happy Friday. I'm a long time listener. Oh, right back.

Thank you. First time caller and say I'm calling about the Cheesecake Factory. Excellent. I think Cheesecake Factory is darn cheap. I know that the restaurants are out of favor right now. I want to give you Cheesecake Factory and then see that with Texas Roadhouse, which I think just goes down and down. Look, Texas Roadhouse, I have no illusions. The stock is going down another five. But I do have a call next week where I'm going to talk it up and I want to give you a heads up. And that's because we're club members. Let's go to John in New York. John.

Hello, Mr. Kramer. Greetings from upstate New York. Upstate New York? Upstate New York, yes. I'm a 46er, so go ahead. Oh, yeah, okay. We're in the aneurysm. My question, should I buy Occidental Petroleum? No, absolutely not. It's one of the worst of the oils. And it's just the only reason why there's any glamour to it is Buffett likes it. But you know what? I mean, I'd give you like a half dozen oils I like more than that. Let's go to Brett in California. Brett.

Jim, I always like calling you when updates. I always see the pain in your face on the down days. But yeah, I appreciate taking my call. Of course.

Jim, the question is, this company has added to my IRA account. I just want to check and see if it's called O. I just want to know if it's a good value. A real income is absolutely right. I know the last quarter there were a couple of leases that people didn't like. I looked into them. I felt very confident about it. You do get a monthly dividend there, and I think that letter O should be bought into this weakness. Let's go to Rich in Pennsylvania. Rich! Hey, what's up, Jim? How are you, Rich? Pretty good. Good week, okay?

Go, birds. Yeah. I bought 400 shares of this company about two years ago, and it's down 50%. But with possible Iranian sanctions and the U.S. trying to replace the Russian energy in Europe, I'm wondering if I should hold it

folded or doubled down on Halliburton? No. I think Halliburton, look, it's probably going to bottom at three and a quarter yield, but I can't recommend it because it's domestic drilling and oil's come down so much in our country that I think that the president, as much as he wants to be drill, baby, drill, it's not happening. It's not happening. So I can't encourage you there. I'm sorry. I feel terrible about it, but I can't. Let's go to Chris in Pennsylvania. Chris.

But, but, but, but yeah, Jim, thanks. Take my call. I think for many years, I'm sure trying buddy.

Thank you. I hate the viewers that give you the elevator pitch, so I'll just say the only things that have been certain in life were taxes, debts, and, well, now tariffs. But saying that, what's your take on CSV Carriage Services Incorporated? Very steady, very steady start. Can be owned. I like it. Not that expensive. Good call. Let's go to Divya in New York. Divya.

Hi, Mr. Jim. Thank you for taking my call. My son has a question for you. Sure. Booyah, Mr. Kramer. Thank you for taking my call. Of course. I'm 14 years old and I love your show. Oh, thank you. I started paper trading a few months ago. What's your take on Palantir?

Well, Palantir, boy, that's a septuagenarian name there. All right, so Palantir is a company that, frankly, is a meme stock, but it does have some good science to it, some good tech to it, and I'm going to tell you, you can buy it. And that, ladies and gentlemen, is the conclusion of the Lightning Round. The Lightning Round is sponsored by Charles Schwab.

Coming up, which Trump stocks could be worth considering amid the uncertainty? Kramer reveals his list for the long term. Next. You got to make a list and decide what you can live with and what's simply too dicey to buy. That, my good friends, is how you have to think about stocks right now if you're willing to be a slave to this crazy market in order to try to pocket what you can during this difficult period. See, right now there's this gauntlet that must be run before you can pull the trigger.

on a stock unless you're putting it away for the long term and are willing to suffer short-term consequences. First, you have to see if the company has any business in any foreign country. Now, it's one thing to be worried about China, but it's another to recognize that any country could at any time find itself on the president's bad side. And once they get on his bad side, any American company doing real business there, finished.

So the first part of the gauntlet is to be sure that there's nothing that the company needs or gets from overseas. Second, does the company have any cyclicality, meaning is it hostage to the economy? Right now, because we're effectively embargoing $439 billion in goods from China, we're going to experience what could end up being the highest inflation in ages in our country. It's hard to disagree with that assessment. And I say that as someone who generally supports a trade crackdown on the Chinese government.

At the end of the day, China is the low-cost producer. We need other countries to stand up and make the goods for us, or we need to build automated factories at home to do the same thing, because wages in America are simply just too expensive to compete. But either way, that transition is going to take some time. And in the interim, we're going to either need to pay through the nose for this stuff or suffer two shortages. I expect both.

I want companies with no cyclicality because with the battle of inflation we're about to have, the economy is in real trouble. Unless a second China surfaces out of nowhere, the Fed won't be able to help because of the tsunami of government-ordered inflation. I'll let you know when I find an extra 1.5 billion people. But until then, we are in trouble.

There's a reason why China owns so much of our retail market. Their stuff is cheaper and just good enough that few new American companies are willing to take them on. They knew how to price their stuff to discourage our own entrepreneurs. So what made this list so far? Right now, there's peace among the phone companies. The big price wars seem to be a thing of the past. That means you can own both Verizon and AT&T.

Both have good yields. Both are reporting better than expected earnings. They're worth owning because their businesses have very little cyclicality. So that's the paradigm. OK, I always talk to you about the drug middlemen, companies like McKesson and Sankora. These are two money machines no matter what. Even as I believe we should be able to automate and digitize these businesses out of existence, they are the king.

and they are the must-owns in this environment. If you want one that's doing a little bit more than just distribution, I want you to consider Cardinal Health. We've had them on a couple of times. They're really smart guys. Then there are the health insurers, Humana, UnitedHealth, and Cigna. They are the ones I have my eyes on. They're the easiest spot, and we want them easy. I know the travel trusts are on one of these. I'm just debating which one.

Finally, they're a little pricey, but I want to own some cybersecurity companies and the trust owns two of them because they can't really be tariffed and they have no natural enemies, including states that have sided against us in the trade war. For the cybersecurity firms, countries with state sponsored hackers like China, they are an annuity stream.

We have not one but two for the trust, as I mentioned, Palo Alto, PANW, and CrowdStrike, CRWD. And I've got to tell you, either one is just terrific. Just terrific. Now, I know more stocks will make the list as time goes on. And believe me, I'm doing it all weekend. I liked Key Corp last night. I don't know about you, but I'm not sure about owning the banks yet. We've only had one day where the banks earnings.

It is difficult to recommend any stocks here. But as one manager after another professes the need to own Trump stocks, Trump stocks, you now are getting the beginning of a basket that I'm putting together. There's a lot more to come. I like to say there's always a boomerang somewhere. I promise you I'll find it just for you right here on MadMoney. I'm Jim Cramer. See you Monday.

All opinions expressed by Jim Cramer on this podcast are solely Cramer's opinions and do not reflect the opinions of CNBC, NBCUniversal, or their parent company or affiliates, and may have been previously disseminated by Cramer on television, radio, internet, or another medium.

You should not treat any opinion expressed by Jim Cramer as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Cramer's opinions are based upon information he considers reliable, but neither CNBC nor its affiliates and or 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 forward slash madmoneydisclaimer.

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