Mad Money w/ Jim Cramer 3/20/26

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1:23Educate, but to put things in context. So call me at 107.43, see me swing, tweet me, act, and cheer me up. At the end of the fourth down week, fourth down week in a row, a day where the Dow lost 444 points, as we sag, 1.51% in the NASDAQ plunge, 2.11%. Thanks for rising oil prices. What are we looking at going forward? Is there anything good out there? Well, we'll have to do is look at our game plan to find out. All right, here we go. You know what? This day begins like almost everyone, every single Monday. And that's with the Sunday night futures that we monitor. That's how I find out what's going to happen. It's a pray with the Monday. The war is taking on an unrestrained nature where our president talks about winding down the operation. Even he did that. That's very easy. But then reportedly just batches more Marines to the Middle East. It's so hard to keep track of. And that's why Sunday night has become so tense in our house. I don't know about yours. If you want to see the futures

2:25in action, go to cmbc.com right at the top of the homepage. That's what I'm glued to. That's why I follow them. And that's what I'm going to be doing Sunday evening. The relation between oil and the average is almost one for one. Crew goes up a dollar. Stocks go down about a half a percentage point. Given how fast oil can rally, it's mighty hard to figure out what to do with stocks. You don't want to throw away good company stocks, though, on something that theoretically could end with a phone call. But if the goal is to reopen the straights of the moves, the straights of the moves is not going to be easy to do. That's going to require either a tremendous escalation or a dip with my breakthrough. And I think the latter seems unlikely. So when I hear things going to wind down at the same time that the president wants the straights of the moves to be open, I just don't know how that can happen. Given these variables, therefore we can't judge what will occur Monday. The day itself has no earnings on its calendar, but it doesn't seem to matter. Companies with even the best of earnings are seeing a pop in the morning. And then they just go get mowed down no matter what. The oil futures take away the ability to profit short-term. But given

3:27due word to the meeting, patience. And that's how you have to be. You have to be patient. I got to. I would have to make money in any market for moments like these. These are the times that try people's souls. And they make you wish that you own nothing. We have no idea what's going to happen here. We know that the worst bear for stocks. They have to not begin to pack this global. Every positive seems to remember two negatives, not one. And all the positive seem to do is keep getting us from getting real oversold enough to at least have legitimate bouts. Let me look, even tonight, when I pulled the oscillator before the show began, it was the same as Wednesday's reading. And even as I am one of the worst, most revolving days I've seen in ages, it means it may be harder to bounce than I think. Now one thing I am hoping for this weekend that could be good is that McCormick, the flavor and spice company, I'm hoping he'll buy Unilever's food division. We heard this morning that they were in talks. It could be expensive, absolutely. But these kinds of brands like Helmets, mayonnaise, noor, soups, Coleman's busher, they don't come up for sale very often. And this group is so challenged for growth that I hope McCormick buys some. Yes, take a dominate whole aisles

4:27of the soup market into this acquisition. That's the only way to get a packaged food stock rally in this environment. They're one of the worst groups in the entire market. Tuesday, we hear from the beleaguered housing sector when KB Homes, that's a national builder starting in California, was kind of a regional. Well, tell us what I expect to be a tale of loopworm sales because mortgage rates are just too high. This prelude to the spring selling season will be a reminder of how the home builders have stalled out here. The weakness in housing is a major reason why I believe the Fed should keep great cuts on the table, despite inflation costs by higher energy costs. There simply aren't enough transactions occurring. And home sales can play a big role in giving this economy the omphid, so desperately needs now. I know there's a huge reshoring effort happening in a data center business smoking. We know from FedEx, technical court, just like e-commerce is very strong. But housing punches above its weight in the economy. And we have very little building. And almost we have the fewest transact. It's the worst home business market in 40 years. I'd like to hear KB Homes offer solution. I bet you

5:33they don't have one. Now, what else? We had AARM recently. This company has services commercial aircraft, but I bet it's performed very well. As we know, there's a lot of activity in the space, but I do wonder what they can say to suit concerns about a potential slowdown in the air traffic. This tremendous company, great long-term value, the stock gets hit, could be attractive. Wednesday is a laundry. We've got two of the most poorly performing stocks of two high-quality companies that report in the morning, Sintas and paychecks. Sintas provides uniforms in first aid equipment, and more than one million small, medium-sized businesses. It's so well run. Universe, it's chief rival. Well, get this. Sintas been trying to buy this company since 2022. I always thought any trust would stop it, but they've now agreed to merge. And I think it's incredible. It is amazing that any trust is blessing this. Now, universe, it was pricing. Sintas is paying a lot of money for the combination, but because the deal is half-cash and half-stocked, I think the stock portion is sending the stock, is sending everything down, because arbitrageurs are moving

6:38this stock down. And that means you've got a real opportunity to buy Sintas when the deal closes, and I want you to do it. The stock is way too cheap. Now, paychecks, in the other hand, it's a payroll process. We've had them one many times. Small, medium-sized business. It's been under pressure as we keep hearing that an anthropic or an open egg eye can do better. So, Sintas is about stock arbitrage. This is about AI. Paychecks now yields 4.7 percent. It's bottomed at level four. In another market, I just tell you, you know what, the yield represents safety. Let's just go in and start buying. But there are so many stocks that yield 5 and 6 percent right now that, and that hasn't stopped the decline. So, I'm a little more concerned. Longs are shadow boxing with the shorts on this one. I can't tell it's going to win. Next, I've been a fan of Chewie from when the stock was in the 20s in late 2023. I watched the stock climb all the way to $48 and changed last June, but I didn't say sell. And now the stock is almost all the way back to where I recommended it. Chewie gave you a nice beat last time and reported, but it also issued a not so hot forecast. Hence the round trip lower.

7:42Let's see what they have to say. It is a good company, but it's been a bad stock. So many people have turned on the financials here because of the problems in this private credit space that you hear about. A product that allows investors to buy pieces of syndicated loans. It sounds simple and often institutions are always looking for a little extra yield, which is what they give you. But the companies who market in these products, these private credit products, they got too aggressive. We're opening a lot of individual investors and didn't understand the product and now they went their money back. Why? Because there were too many of these funds owned loans to now vulnerable enterprise software companies, vulnerable to AI, of course. These private credit funds are all gated. They weren't meant to be traded. They were meant to be owned for six to ten years. I wish the sponsors made that more clearer. Now people went out and the firms are unfortunately right to give back only minimal amounts right now. It turned into a mug game. Wow. I don't associate these products with Jeffries, which reports after the close-downs. Well, I do associate how companies are doing in the industry with them. So I'm going to pay special attention to the call and trust that they will address the issues. First financial

8:46that reports, by the way. Generac has to know what's meaning, Wesley. And while it's court business backup generators matters, we want to hear about how data centers are using Generac for backup power. That's an amazing growth business and a terrific addition to their lineup. There's a dried day. But Friday we get earnings from Carnival. And it seems like the streets going very positive about the cruise lines again. These stocks have been hammered and they aren't helped by these higher fuel costs. But Carnival is considered a value vacation. Something that seems rare these days value. Listen, I'm not going to sugarcoat this. This market's got very tough. I will say that we're beginning to get lower prices in some industries, the banks, the foods, the drugs, the retailers. In some cases, large cap technology companies. So as oil works to play higher, you have a very good chance to buy some high-quality stocks at reasonable prices. The problem is they're not yet bargain prices. But they are a heck of a lot better than they were just four weeks ago. Let's take calls. Let's go to Michael and Massachusetts. Michael.

9:47Hey, Jim. Michael, what's up? I want to thank you for the years of training us, how to navigate and understand the market. Oh, thank you. Well, I sold this perspective stock that I bought for 500 percent profit and put the money into GEV. What is the stock? I had bought Oak Loathe and sold it for 500 percent profit and put it in GEV. GEV. GEV. I like GEV. I like GEV. I like GEV. I like GEV. I like GEV. I have a lot more. Oh, I'm sorry. Do I have the wrong stock? No, my question tonight is on a corner. I have a small position that I started before it skyrocketed up into the 130s, and it's been between 125 and 130 for quite a while, and I don't know if I should just bite the bullet and add to my position. No, no. We own corning for our, the child will trust that we have

10:50almost a double in it. I want this stock to come down before I tell people to buy it right here, because this market is awful. And I think that this stock, which is down 850 day, could be down 10 on Monday, and I don't want you to buy it and then say, hey, listen, it just dropped 10. I think that all stocks that have moved big here are vulnerable, cornings vulnerable, will pick some up after the sell, not before. And I thank you. Let's go to Toby and Puzzleway and please Toby. Hey, Jim, I'm a long time listener and a current member of your investing club. I thank you. I've read your several of your books including How to Make Money in Any Market, which is where I learned about the stock C-A-V-A Kava restaurant. I should have pulled the trigger when I read your book back in January by it didn't. The stock is now up over 40% for the years. It too late to jump on board. It's not. I think that Kava's great. I never understood why it was all the way down. As you know, it's recommended the book very intensely. The stock's down three today. I think the stock could repeat, could repeal some of those gains. Maybe if 75, 73, that's where I go and not before them, okay? Not before them. Look,

11:53this market has gotten very tough. I am not denying it. But now we're now getting some good chances to buy prices, stocks and prices that are a little more reasonable, but not cheap. That may be later. May my right, that extra port after the bill you show you, so can you keep flying higher after the rally so far this year? I'm running through the numbers to find out. Then the Warner runners disrupted oil and gas partners across the globe, a could American energy company stand to benefit in the long run? I'm going to share where I come down and data from 100 access combines unique insights into the consumer, with some lessons of what I wrote and how to make money at any market about the price earnings of multiple. We do not want to miss or take ways of doing some really perfect stock recommendations that I provide at the receipt to them, so stay with Kramer. Don't miss a second of Mad Money. Follow at Jim Kramer on X. Have a question? Tweet Kramer,

12:54hashtag Mad Mentions. Send Jim an email to madmoneyatcnbc.com or give us a call at 1-800-743-CNBC. Miss something? Head to madmoney.cnbc.com Bringing your business dreams to life takes heart and about a thousand decisions a day. That's why Atlantic Union Bank's knowledgeable bankers are here for you, with the right guidance and customized solutions to help you reach your business goals. So whether you're planning your next move, upgrading your space, or scaling to meet demand, we make sure your business is ready for what's ahead, because we are big enough to support you, yet small enough to know you. Atlantic Union Bank. Anyway, you bank. Few things are as uplifting as the greatest moments in sports, and nothing brings us together quite like Team USA at the Olympic Winter Games. From NBC Universal's iconic storytelling to the innovative technology across Exfinity and Peacock, Comcast brings the Olympic Games home to America,

13:58sharing every moment with millions. When Team USA steps onto the world stage, we're not just watching, we're cheering together. This winter, we're all on the same team. Comcast, proud partner of Team USA. Trading at Schwab is powered by a merit trade, giving you even more specialized support than ever before. Like access to the trade desk, our team of passionate traders ready to tackle anything from the most complex trading questions to a simple strategy gut check. Need assistance? No problem. Get 24-7 professional answers and live help, and access support by phone, email, and in-platform chat. That's how Schwab is here for you to help you trade brilliantly. Learn more at Schwab.com. Team FedEx breathed new life into the transports from mid-October through mid-February. The Dow Jones transportation average caught fire, rallying your 34% in FedEx led the way. But a lot of this was based on high hopes about the future, rather than particularly strong results. Of course,

15:01at the time it made sense to be optimistic. Interfaiths were coming down, lots of supply didn't move from the system. It looked like a freight boom could be on the horizon. But then the war with the ran came out of nowhere, and we got hit with a huge spike in oil price. With West Texas crude now up over 70%, your date. That's obliterated the transports. With the Dow Jones transportation average, off a quick 12% from its mid-February high. This group was rallying on good vibes, and it came right back down on bad vibes. There's one exception here though, and that's federal expressed now known as FedEx. From its post-laboration day lows last April to its highs in February, FedEx more than double. That's because this company's been putting up genuinely good numbers. With accelerating revenue growth, we call that ARG, and much better earnings for several quarters in a row. Now, I've been pushing this stock aggressively since September when it was trading at $231. I'd like to see you in one that in a second. And it's now at $358 in change. Even after today's

16:01terrible trading, there's also a breakup angle to FedEx. The company's currently working on the spin-off of its freight business, which is expected to happen on June 1st. That could be a good way to unlock some value here. Plus, just over a month ago, FedEx held an investor day that was very well received, with a strong forecast for the quarter that they just reported in full last night and some very bullish long-term financial targets for $2029. That launched the stock to its highs in late February. But when the war with Iran caused an oil shock, FedEx couldn't escape to sell it. As of last night's close, the stock was down more than 9% from its highs. Even I was worried, this company is a lot more profitable with oil at $65 than it is at $98.00 in change. Luckily when FedEx reported last night, they delivered a fantastic set of numbers. Revenue came in at $24 billion, up over 8% year of year, and roughly half a billion dollars ahead of the estimates. That's huge. There are pretty much 10 basis points year of year, much better than expected, indicating that the company's costs are still paying dividends.

17:05And most important, they earned $5.25. All's to resume looking for $4.15. What a beat. So the quarter itself wasn't the thing of beauty, but what about the guide? You should know on point that is, hey FedEx raised this full year forecast for 2026 fiscal year, which ends in May. They took up the revenue growth target from 5% to 6.5% range. They're talking about $19.30 to $20.10 per share in earnings. So that's up from $17.80 to $19 per share. Thanks to the cost cutting initiatives, FedEx has been working on for a while now. They were able to deliver what fabulous CEO Raj Supermanian called on the call, an exceptional peak, our most profitable yet. Despite the fact that they were coping with changes globally, all over the thing about global trade policies, lack of trust and demand for the less than truckload of freight business, and the temporary grounding, a part of their air fleet after the tragic UPS crash in Louisville last November, as well as unfavorable weather. Their core business, the part that will stick around after the freight spin-off,

18:08is cruelly doing very well here. Now, there was a lot of talking last night's conference call about how FedEx is leveraging the tremendous amount of data that's generated by its system to differentiate the company's quality of services and win additional business. All things considered, this was an excellent quarter for FedEx, and the stock absolutely deserved its gains today. Even if it quickly came down from its high, set right at the opening this morning. See, in the end, the stock opened up 25 bucks, who knew what kind of day it was going to be? It finished up less than three bucks. Tell me that it isn't going to be an opportunity. The moment you think that's the bad news in the market, in the worst, in the stocks, it will be. Even though FedEx has rallied like crazy over the last six months or so, I don't think the stocks run in its necessarily near its end. And why don't I say that? Well, the stock currently trades just over 18 times the midpoint of companies newly raised forecast, full year forecast, which is on the high end of where this one tends to trade historically. But I think it's fair to expect that the earnings are going to go up big next year. And keep in mind, next fiscal year, they won't have the freight business,

19:08which is currently the worst before I'm part of the company. Look at the estimate for fiscal 2027 FedEx currently trades at just 16 times that number. And keep in mind, those estimates may prove to be too low, given that these guys keep beating the numbers. Using the longer term targets from last month's investor meeting, Wall Street expects more than $28 an earnings per share in 2029. So FedEx is trading at only 13 times their 2029 earnings forecast. Five, five, five, five, five, five, five, five, 13 times. That's crazy. Now does this X and quarter from FedEx have implications for the broader transport sector? I think that's hard to say. Well, FedEx rallied today. The Dow Jones transportation index moved a bit lower, as headlines about troop deployments to the Middle East and still rising oil prices weight on the market. It's not the kind of place you should be in this kind of environment. But FedEx did have positive commentary about its own volumes, seeing strength across nearly all their package services. But it's honestly tough to figure out how much of that is from a broader recovery in package volumes and how much of that is FedEx taking market share

20:12because they're running circles around the competition. The only area where FedEx talked explicitly about overall demand was in the less than truckload freight space where they said it continues to be weak. And that's the soon to be separated freight business. So it won't be FedEx's problem for much longer. Probably should be a negative read through for parts of the truck industry though. Let me give you the bottom line on this incredibly exciting turnaround. After a harsh sell-off in the transports and response to the war with Iran, cutting off oil supplies and the Persian Gulf, it was nice to see FedEx report a really terrific quarter. And then rallying response and really ugly debt, this company's doing incredibly well. And I think the stock deserves to go higher, maybe appreciably hard. Of course, the longer the straight of a moon stays closed, the harder it gets to earn any of the transports, including FedEx. But if any of these companies is going to escape the situation and escape, I think it'll be this one. Man, money's back. It's the break. Coming up with the war in the Middle East, disrupting natural gas exports. American producers look primed to fill the void. Kramer is giving you his picks to invest in.

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22:21This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information-packed daily market preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions, and key results and statistics that may impact your trading. Download the latest episode and subscribe at Schwab.com slash Market Update podcast or find Schwab Market Update wherever you get your podcasts. Two days ago I spoke with Jeff Martin, the CEO of Sempera, and right at the end of that interview, he gave me an idea that I frankly haven't been able to shake since. This was right after Israel bombed Iran's largest gas field, and Iran retaliated by striking the world's largest liquefied natural gas export terminal in Qatar. I asked him if all of this chaos in the Middle East could pave the way for the US to become a much more important supplier liquefied natural gas to the rest of the world, and his answer was a resounding yes. We've since learned

23:27that it could take three to five years to repair this facility in Qatar, that's knocking out 17% of the liquefied natural gas export capacity. Okay, that's huge. South Korea gets 14% of your LNG imports from Qatar. India gets about two-thirds from Qatar, and the UAE and Omar, all of which are within striking distance of Iranian rockets. Now if you're a country that needs liquefied natural gas, America's become the most reliable source of supply, practically overnight. Since Chef Martin from Sempera sparked this idea, let's start with his company, which helped build one of the country's earliest LNG export facilities in Louisiana. Unfortunately, Sempera's mainly a utility, and they want to be more of a pure play, so they agreed to sell a majority stake in their infrastructure business to a private equity firm, KKR. Basically, this has become a regulated utility story, and it's got some LNG upside down, so we still like Sempera very much. But if let's say you're focused primarily on the LNG export thesis, well, there are better ways to play it than Sempera. Now, the most obvious one, when we've talked about since the beginning of the show, is shinier energy, and that symbol is LNG for your home gamers.

24:30These guys practically invented the modern day liquefied natural gas export story, opening up the first American LNG export terminal in nearly 50 years back in 2016, which by the way was originally going to be an import terminal, and he just switched it the other way, when we realized how much natural gas we have. Today's shinier is one of the world's largest liquefcation platforms with two major facilities in Sabine Pass, Louisiana, and Corpus Christi, Texas. They produced record LNG volumes last year. Most importantly, this is a pure play. Shinier generated about 19.4 billion dollars of LNG revenue in 2025 against roughly 20.0 billion of total revenue. If you want the biggest most established, most liquid name with the most direct correlation to the world needing more liquefied natural gas from America, well, this is where you should start your search. Of course, but Shinier, you're not early to the story. The stock's trading in all time highs, and it's up roughly 45% just since the beginning of 2026. But it's the clearest play on LNG, and that stocks, not actually not even that expensive, trading just under 20 times this year's earnings estimates. Another great option is Enbridge.

25:35That's a member of the elite eight income stocks with growth that I highlight and how to make money in any market. This diversified Canadian energy company has the major pipeline business, doing moves 30% of the crude oil produced in North America. No one can hear that. And you're really 20% of the natural gas consumed in the US while also operating the continent's largest natural gas utility. Enbridge has exposed to the LNG export story via its immense natural gas pipeline business. But the direct LNG angle here is an LNG export terminal in British Columbia, which Enbridge has a 30% interest in. It's expected to enter service next year, and because it's on the West Coast, it will be the fastest way to ship natural gas to Asia. Most of our LNG facilities are on the Gulf Coast or the East Coast, so they have to put that cut through the Panama Canal first. Get to Asia. Enbridge, we're going to let you get around that. Of course, I mainly like to stop because it's a pipeline operator with a terrific dividend currently yields 5.3%. You don't buy an Enbridge for its LNG exposure. You buy it for the gas pipelines and the powerful dividend. Along the same lines, there's another one that I talk about and how to make money

26:38in any more. And that's an enterprise products partner, EPD. This is a pipeline company that I think many ways is the best run of all of them. Let's start with the dividend. It's sports of 5.9% yield. It's a company that's been public for over a quarter of a century, but it's still one of the most under followed names in the oil and gas industry. Every time I mention people, they scribbled down, they'd never heard of it. And enterprise products is not a primary LNG export. But it is a critical feed gas and liquids infrastructure provider, and it's always been a leader in building new plants. This is the company that owns a huge amount of the pipes, plants, processing, and a word called fractionation. They split up the oil in a different pieces that help feed the net gas exports system. So what do you think of enterprise product partners as an arms dealer to the entire gas and liquids ecosystem? LNG itself is only a fraction of its more than $50 billion revenue base. But if North America is going to send energy to the world, enterprise benefits from the build out underneath it. This is another safe income generating growth stock

27:39with a strong long-term catalyst. Enterprise is the indirect high-quality income play on the border North American gas system that feeds the export boom. Finally, there's a controversial one we got to talk about, it's called venture global. This is a potentially high upside pure play. Company came public in January of last year, $25 a share. Everyone was very excited about it, but the IPO only disappointed almost immediately. At the end of 2025, the stock was trading below $7. Since then, because of the word, stage of remarkable rebounds now passed the $15 mark, it's up 130%. Your date. Venture Global's rise was built on moving very quickly to build export capacity. This is what you're looking for, starting with Calcissue Pass in Louisiana. The problem is the Calcissue Pass became the center of a major dispute. When it opened in 2022, the Russia Ukraine War had sent global LNG spot prices soaring. Venture sold cargo into that much harder short-term market, while long-term customers argues that those volumes should have

28:40been delivered under existing contracts, and that is what created the backlash. That arbitration overhang is weighed on the story ever since, even as Ventures has kept expanding, while the reputational damage was real. They've already settled some of these cases, and maybe even one couple of Shell and Repsel. What makes venture global so compelling now is the fact that it's no longer just a one-asset story. The company's first three projects are Calcissue Pass, Placamines LNG, and CP2 LNG. Just last week, they announced financing for Phase 2 of CP2, saying they expect this facility to become the largest exporter of liquefied natural gas in the whole country. This is the most aggressive growth in the group, but the company attempting to go from controversial upstart to major scale exporter in a short period of time. Venture Global generated about $13.8 billion in revenue in 2025, up 177%, you're over here. This is a pure play. This is the one you want to own if you're a true believer. Here's the bottom line. In a world where the Middle East can't safely supply the world with liquefied natural gas, our countries LNG exports become a lot more valuable. Senior energy, cleanest, and most established

29:46pure play. Venture Global is the specket of one with a lot of growth, and then Enbridge and Enterprise products, well, they're both terrific pipeline companies with terrific dividends. Enbridge has its own West Coast LNG kicker, Enterprise being more of an indirect play on that case finds. If you believe that the United States can become a much larger supply of LNG, as I do, these are all terrific ways to play it. Let's go to Greg and Michigan Greg. Hey Jim, a big Michigan Boo yeah, Julia. I'm liking that Boo yeah, how can I help? And a long time, second time, happy club member and book owner. Oh, thank you. Yeah, thanks for all you do. Congrats on finishing 20 years and we need you for the next 20. Well, I'm not going anywhere. Let's go to work. All right. Hey, I've been under water on this stock, but now I'm up over 30 percent with the gas and oil markets and turmoil. Should I hold for the merger or ring the register now on Cotera energy? I would sell half because you've had

30:49just a monster move and let the rest run. I would feel good if you did that because you know, I owned it. We ended up not doing anything with it. You quit it for the big one, but take careful off because if we do get any sort of change, well, if anything goes well over there, that stock's going to be right back under 30 and I don't want you to turn it again into a much smaller and thank you for the time works. Look, if you think our country's LNG exports will continue to play a larger role in the global energy market, then all of these companies are just weight ways to play it. Venture global for the SPAP, okay? LNG, that's senior for the established. There's much more man money ahead. The consumer data from 100X combined this resource, with the key tenants of how to make money at any market to identify some of the best glow stocks out there. I'm going to sit down with companies top brass to better get your pencil and paper out there. There going to be some good names to discuss. Then you might be inclined to sell everything after a rough week like we've just had, but today I'm breaking down why I think that may be wrong. And all you call us rapid-firing tonight is just a gliding round. So stay with Cramp.

32:01Allers this show know I like to check in regularly with 100X. It's a privately held alternative data firm. Don't get scared, but that will explain it. It uses feedback from actual customers to figure out which brands are working and which aren't. What sets these guys apart is that they ask people about their future purchase intent. They're lying, that's much better than relying on backward-looking sales data or squishier sentiment data. For example, back in December Rob Pace, the founder and CEO of 100X, told us about the rising interest in Anthropics, CoADI platform. A few weeks before it really caught a high, I didn't even know it. A month before that, he told us that 5 below was really standing out. And sure enough, when they reported this week, they blew away the numbers. I've been calling it the hottest stock in the market. Tonight, we're bringing Rob back because he recently read my new book, How to Make Money in Any Market. And he wants to pair the themes from the book with unique insights from 100X's data set. And I've got to tell you, he put some science to my artistry. Mr. Pace, welcome back to Midbody. Thank you. Okay, so Rob, you and I share something in common. We both love a particular

33:03letter in the alphabet. That letter is for multiple. And why does that matter so much? Because it's the most important thing in investing. At the end of the day, a stock is earnings times a multiple. And the most underappreciated thing is the multiple. And we've been working on the science of the multiple because it is so important. Well, I talk about the multiple of my book and I spend a huge amount of time doing it. And I have to tell you, I think I took my life in my hands Rob because it's a people say it's a boring topic and it can't be explained. You have it come to life because you actually put some numbers on it. Explain this value concept to people so that we understand exactly why one stock did one thing and one stock did another. Yeah, let's take to very high profile example. So Walmart on their march to a trillion dollars, 80% of the return came from the multiple, not the earnings. And Salesforce, if they had just maintained their multiple gym, they'd be at $350 billion instead of 180. This matter. So we've been studying it. We have a partnership with Deloitte and we've looked at all of their data, all of our data. And

34:08what we've discovered is one word that matters value. Now, let us say value to the customer value to the stockholder or value to everyone value to the customer. So here's here's how you need to think about the multiple and getting ahead of the multiple. We studied it and what matters is does the company provide more value for the price. And if they do, here's what happens. They grow historically five to eight percent faster than low value for the price brands. Their future purchase intent, what we look at is seven to nine percent higher. And they also get the added benefit of they trade up 15 to 20% multiple. So you get the power of compounding multiplied by an increase in the multiple. So it's not squishy. It's the most important thing in investing. Now, we hear those numbers five. And I might say, but those are little numbers. In reality, those produce huge games. All right. Compounding is really where this plays out. So on Walmart, let's talk about that.

35:09I know I started liking Walmart because I have powers of observation. I took my fashion daughter there. She's a dad. The clothes here are a steel. And then she's also a baker. She's oh my god. Flowers so low. What we thought was value value value. We didn't say it in our minds. But my take was wait a second. Walmart changed. And it's offering value to everybody. Not just to a certain economic class. That's exactly right. In fact, we see people making over $200,000 a year calling out Walmart in our data. So what happened is they always had price, but they added a better experience and convenience. So here's the thing about MVP's and value. You can usually say it in one sense. Why? And that's a really good rule of thumb for your audience as they're picking their stocks is to be able to say that. Yes, because I always tell people one of the things that happened that was not great about electronic trading is that when I was at Goldman, I say, tell me why you like this. And now no one tell you never get asked. So you just sometimes say,

36:10oh, the chart looks good. There's got to be more to it than that. Now, I want to talk about powers of observation that have where I'm trying to figure out exactly how to value for price. And let's talk about the cruise industry because that's something a lot of people know about. Yeah. So let's look at 100x data, 30,000 passengers and 30 brands. Here's telling me you pulled 30,000 people. Yeah. Well, we have almost a million. But what? That's unbelievable. That's remember, that's empirical. That's not any good. Right. Right. This is this is this is hard into data. So here's the key point. Our feedback on price for Disney is actually below the average. But they stand out on value. Same thing with Viking, same thing with Royal Caribbean. The key point is if you saw the competitors, these would be best in class at different price points. Yes. More value for price. And at the end of the day, it's using your powers of observation. Something you also talk about in your book. But if you're an MVP, you grow faster. You will

37:13grow faster and you'll be rewarded with a higher. How do I marry the power of observation with the hardcore empirical data you have? Well, ultimately, my opinion means nothing, but basically what you're seeing here is a rolling off of what typical consumers think. So what's interesting is the average consumer actually has a better intuitive sense of this than the institutional investment because they live it. And that's why I keep saying you don't have to live only in index funds because you have powers. And they are derided by a lot of people. The opposite of what you're doing right now, you're empowering. Empowerment is a per se good thing, not a bad thing. So now show us. We've got a couple situations here that I'm seeing that some of them are going to be highly valued. Some of them maybe should be highly valued because they're good companies. Give us a sense of what we're seeing. Yeah, these are all MVPs and what we select, we actually have 1200 brands that are MVPs. So think of this as your screen. You

38:13basically talk about finding high quality stocks in your book. Think about this as a screen. These are people or brands that stick out at their given price point. Sometimes, so let's take the most obvious one. Costco TJX, everybody loves a bargain. And their business model has created value, right? But you go name by name and there's always a story. There's a sense that I could give you each one of these on why they're more value for price. What this tells me is maybe you want to look for anomalies. For instance, I happen to think that chewing was reports next week. The stock is down from 47 down to the low 20s. Maybe that could be an option. Don't do it ahead of the court. But maybe that's an opportunity. Colombia, I think of some of the highest. I love their stuff. But the stock is on the new low so time. Maybe these are signs that someone doesn't tell the story, right? It could be that the other thing that's going to happen though, Jim. And this is the AI angle. Your AI agent is not only going to do price comparisons for you. They're going to do value comparisons. They're going to know what Jim Kramer values. And they're basically in Colombia is

39:17going to do better in that world. So the rich are going to get richer in terms of MVP. And that's why it's so important to understand it and connect it to the multiple. I got to tell you, Rob. Once again, you are both a minority of what I'm thinking, but a great assistant to everyone out there who really feels that they can do it, but scared to or feels denigrated by the industry of which I am so glad you never do. That's Rob Pace, Founder and CEO of 100X. Your stuff is fascinating. Yes, Nick. And M is the most powerful letter. And it might back it. Coming up, you've got questions. Kramer's got the answers. Get charged up for a fast fire lightning round. Next. Sound. And then the lightning round is over. Are you ready? Steve Decker,

40:22we're going to serve a Bobby company. Bobby. Hi, thank you. You're taking my call. Nice to meet you last week. I want to take advantage. I want to take advantage of the gas and oil surge. I like FTI. I'd FTI is a very good company. It's still inexpensive versus the others in the cohort. I would be a buyer. Let's go to Georgia and Kentucky, Georgia. Hey, Jim, this is Scott. My daughter has a question for you. I'm a supreme remaining Georgia. I'm in a high school and best nightclub and my stuff went down. I'm looking for a stock to make a big jump in the next few weeks, preferably in energy and defense. I'm looking at the stock ISS, but what stock do you think would do good in the next few weeks? I guess this is, wow, you got a hot stock there. I've got to tell you, I hate to agree with Georgia, but you know, here's what. If you want, that's a very aggressive bro stock and you know what, I'm going to bless it because you're young and young people should

41:22be able to take advantage of bro stocks like that one. Let's go to Kim in Virginia, Kim. Yes, Kim. Yes, Jim. How are you doing? I love your show. Mama, tell me not to thank you much. Can you hear me? Yes, I hear you out here. All right, love your show. Mama, tell me not to say too much. I want to ask about Olma, OlMA, OlMA. Too risky for me. I just think that it just, it just stayed with this market. That one you could lose too much money. I'm very sorry. Let's go to Betsy and California. Betsy. Yeah. Hi, Betsy. Yep. You're off, Jim. Jim. Jim. This is Betsy from California. And I think that March goes in like a lion gem, but I think it comes out like a lamb. Lamb research. Oh, yeah. Yeah. Yeah. Yeah. I agree. Lamb is the winner of what happened in my club. People didn't seem to notice you buy,

42:25if you would buy 100 shares, you buy 50 on Monday, okay? And then you wait down 10% and you buy another 50. You've got a winner in lamb research. I need you to go to David in New York, David. Hi, Jim. Thank you for taking my call. Of course, Jim. I'm not going to bronze with the heavy challenges. You several coffee before the next. Con aggro. An aggro is tough. I never buy a stock just for shield. Con aggro has got a big yield, but I don't want to go there. And that lays in general's conclusion of the lightning round. The lightning round is sponsored by Charles Schwab. Coming up, is there any silver lining to be found in the markets right now? Cramer thinks there could be one, but it isn't the easy path. They'll explain next. Oh, oh, oh, oh, yeah, Jim Cramer. I'm a first time caller. I have to throw up, remember. I want to thank the people champion of the desert. Thank you for helping me become

43:29a millionaires. We've just come through an awful week and you know what's the worst thing about it? The S&P 500 is still only down less than 5% for the year, but the forward price during this ratio that is still north of 20, which is relatively rich versus this current backdrop. In other words, we aren't cheap and we aren't down a lot yet. That makes it hard to take a big swing. We just don't want to look back and say what were we thinking? We have thousands of Marines messing to try to unblock the straight of moves. We're blowing up the smaller ships of the Iranian Navy even after we were told that we'd sunk them already. We have the Saudis talking about $180 a barrel of oil. Hey, the world just increased nearly 50% just in March and

44:29we have interest rates starting to trade up like they did before the Great Recession. In fact, rates seem to go up every day. Feels like a tremendous time to sell, right? Not to buy. Now I can't blame anyone who wants out. The idea that this moment can drag on for months is terrifying. President wants a short work, but that's more up to red at this point in the United States. As long as they're shooting rockets at the straight and oil infrastructure over the Middle East, we can't just declare victory and go home. Meanwhile, the oil stocks just don't stop running and believe me. If there were any chance that oil was going to roll over these stocks, we'll be plunging first. It's a miserable situation, which is, frankly, the only thing that's good about it. The only thing that can possibly help the balls. Now, we know that declines don't solve the problem. It's difficult to imagine that the market can go higher if this board goes one and all on. We did think there was a chance to buy when the President told us that a ranch military had been degraded, but we know that it simply doesn't take much to ignite unprotected oil facilities. A cheap drone with some explosives can do what we need a huge bomber to do the few years ago and

45:31for a lot of us money. It seems like a ranch still has tons of these drones, no matter how many times we bomb their arsels and drone manufacturing facilities. Now, it looks like there's no way out, but that again may turn to a positive. Just because we can't see it doesn't mean it can't or won't happen. So why not just buy buy buy if I'm feeling sanguine? Oh, no, why do we put money for the to work for the travel trust yesterday, but nothing today? Because investing purely in the basis of being a contrarian is not something that can get you too far. You need a meaningful catalyst to turn things around and you need to be even more oversold them and currently find ourselves to put more money to work. Let me give you a classic example, Nvidia. Now, here's the company, the largest company in the world, which currently has a price to release, but it's actually lower than sure when it lives. That's right, one of the fastest-going wealthiest best foreign enterprises in history has a stock that's now cheaper than a paint company. But you know what? That could be until Monday when it turns out that it's even cheaper still. That's the problem with contrary investing.

46:32It can get even more contrary as the market continues to sway down. Look, one day there'll be a conclusion to the very specific reason why we're going down. We don't know when. We can definitely go lower until it happens. And that makes it dangerous to stay, but to me, more dangerous to leave. It's about taking pain until there's a resolution. And if you leave now, you're betting like all the other miserable times in the market that we've seen, you'll be able to get right back in before the stocks were bound. So, sure, I let the market, it could fall 5, 10, it could even fall 15%. If things totally spin out of control because of oil, it's a possibility, especially if we bring in ground troops next week. But to pull your money out now, soon because we aren't down that much, history says you should have a better reason than that. It's been a bad call for every correction except one. The great recession. And as bad as this oil shock is, it doesn't come close to the financial crisis that rocked our country and closed some of the biggest companies that we've ever known. I like to say there's always a more market somewhere.

47:32I promise I'll find it just for you right here on Met Money. I'm Jim Kramer. See you Monday. All opinions expressed by Jim Kramer 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 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 Mad Money Disclaimer.

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