文字起こし Mad Money w/ Jim Cramer - 12/03/21

ジムクレイマーのMAD MONEYの文字起こしになります。米国株を英語学習を通じて投資したい方に向けて作りました。皆さんの反応を見て改善点や英語解説などい追加して行けたらと思います。とても有益な番組なのにジムの英語が難しくて悩んたのをきっかけにこのノートを作成しました。 聞き取れない部分もあるのでご了承ください。是非Podcastを聴きながら合わせてこのnoteをみれば、様々なアメリカ英語を聞くことでリスニング力を鍛えることが出来ると同時に、タイムリーな米国株投資情報を得ることができます。イイネ！と思った方は投げ銭いただけると嬉しいです

‎Mad Money w/ Jim Cramer：Apple Podcast内のMad Money w/ Jim Cramer - 12/03/21

Welcome to Mad money. Welcome. Hey Mark. Again, my fence is trying to make you some money. My job is not just entertain but educate, teach put in perspective, call me one 800 743 CNBC. Tweet me at Jim Cramer. You never want to see a high profile tech team get nearly cut in half. Because it can take on a lot of other stocks with its bowling like inaction.

1:15
Even as his problems might be company specific. Unfortunately, that's exactly what happened today. The Dow declined 60 points has been losing 24% Nasdaq news and 1.92% in large part because of a company called DocuSign DocuSign reporting such a horrendous quarter. Why didn't one quarter matters so much? Do we really believe that DocuSign, the software company that makes it possible to digitally seal the deal on contracts, one that you and I use all the time perhaps would be able to maintain the same level of success we saw at the height of the pandemic? Well, that turned out to be pipe dream. Oh, yes, the quarter was poorly executed by management's own admission. And worse, there was a serious slowdown in business that management didn't see coming. But DocuSign was really important, because so many investors were hiding in this one, just in case the Omicron variant or the winter weather sends us back into social distancing mode. Unfortunately, the company did a lot less business than anyone expected, even 90 days ago. Does that mean people going back to signing contracts in person? So DocuSign isn't being used as much. That's bad for Docusign? Whoa, what does it mean that there simply isn't as much business being done in the part of the economy where DocuSign is popular, like financial services, real estate, healthcare, that's paid for each of those industries, not to mention all the tech companies that make their money by helping those industries to digitize fallen worries about Omicron Varian and a week employment report this morning. It was kind of stunning. And you can understand why the NASDAQ get obliterated. Oh, and by the way, it didn't help it. Kathy would darling stock DocuSign Yes, it's always been associated with her took a major hit, sparking fears from traders that our whole portfolio was under assault. It probably is. But because she doesn't run a hedge fund. They can't really shoot against her. But her flagship arc innovation ETF a Rkk was down more than 5% today that raises eyebrows. I get why people are scared. But let me tell you how I see this. Going into today. DocuSign was trading at roughly 130 times earnings, at least not sales referencing its class creates a puzzling environment where all sorts of sluggish investors become desperate to figure out what tech stocks are really worth Why, what should they be selling for? And then there's the ETF factor, because texts riddled with these ETs are used to claim that a single stock like DocuSign can reverberate track down the whole group. In other words, today, Tech was guilty until proven innocent, right? Guilty. And nobody was proven innocent. While the Dow in the s&p managed to rebound to close the NASDAQ stay down in the dumps. And if you have some of those in your portfolio, you're going to see that you lost money today. Remember, it's not a loss unless you take it but it does feel bad. So then we have this result. Okay, well, this can't last forever. What could what could turn tech around? Well, that's up to next week, I think it's gonna have to take individual numbers that are much better than Docusign. So let's go to the game plan. On Monday, we have to DocuSign analogs. That's, we've got MongoDB. And by the way, you may think the name is crazy, but it's it's a $30 billion company, $30 billion database software platform, and Koopa software, we've had them on a bunch of time, a star in the field of cloud based procurement software. Now both of these companies had been big winners not that long ago, but they've been getting whacked for ages they got crushed again today Koopa hitting its low for the year down nearly 4% for the session, even as the business really is very strong. Maybe something is wrong. Maybe we'll find out MongoDB that hit even harder. It's down 6.5% Now this kind of action is late in years money managers dumping risky stocks and running for safety to the likes of Believe it or not, yes, American Electric Power. That's my favorite utility. MongoDB and Cooper also find themselves in the unenviable position of having report riot to what will no doubt be one of the very biggest weekend's of one We're gonna hear about the Omicron variant. I'd be shocked if that coverage is anything but entirely negative. Could it be tough? But then again, these stocks have been hammered already, so we have to see how they'll behave. Maybe the bad news is in them, maybe there is no bid. Tonight we're from Sentinel one. Here's a company from the cybersecurity space. I was shocked to see this stock had already come down from 76 to 46. For no obvious reason, aside from the broader stock market rotation said no one might be a good test case to see if text finally got an oversold and can bounce or even go up. That said, You know what? We were focused on Toll Brothers, the high end homebuilder that keeps putting up amazing numbers. Mortgage rates are very low going lower. Still, I'd kind of tell you maybe get a two and a half for conforming one. Profit margins have been good despite supply shortages. And thanks to the hybrid work environment, the stocks better and worse. Will Toll Brothers be hurt by today's weaker than expected jobs report. I doubt it. Bad unemployment data. What does that mean? It's gonna cause the Federal Reserve to go easy on us as they wean themselves off aggressive bond purchases and toward rate hikes. As tech gets purged fund managers fund managers have funny measures. I like that fund managers have decided to see if Stitch Fix should get a stay of execution, because it always is more of an apparel play than a tech play. I've always liked this one, but its stock has been obliterated. Get this it's fallen from 113 and it's short squeeze and juice peak down to 23. Today, again, looking for anything that might indicate when the digitization socks are ready to bottom Stitch Fix might give us a signal. Oh, how about this one? Wednesday's tech that test case is a company called UI path and your path just uses software to automate repetitive tasks currently done by humans to stuff that you hate to do over and over again. Again this stocks been cut in half no fault of its own. He was coming to an end all right, then I got some free ad world Campbell Soup. This shouldn't be more of a judgment on the slowdown stocks and a judgment on management. Although unsteady soup sales and out of control real costs could play a role they did before I hope they don't this time. Also on Wednesday we hear from one of our faves our age that's the retailer formerly known as Restoration Hardware. Now this is another stock that's been knocked around. I think CEO Gary Friedman has a long term view the stock sell sell off in almost every single case has been a reason to buy not sell. Oh, okay, then we've got that second part of the market. We got Gamestop before that's the king of the meme stocks. Now that AMC is getting slugged by Omicron worries and insider selling we still haven't heard a real turnaround plan for this new Gamestop management but the company might be getting bailed out by console shortages I can't justify owning up here and I think the Wall Street best cohort has run out of firepower of late except for attack me in my mentions calm and I got bad news for them I taking the week off other than posts, dog pictures, see my what's your best day you gotta check out these pictures instead of my dogs are hilarious. But anyway, there's tremendous prurient interest here in the doubt rise and fall perhaps putative fall of GameStop. Thursday we have some Cramer faves that I think will be able to handle the pressure. In particular we get results from a pair of childhood trust names, Broadcom and Costco. Now I discussed with Jeff marks portfolio manager about whether to sell Broadcom today because it's got it's up a lot. We got a big profit but it's a technology company often thought of as a chip maker that's been remarkably consistent in that world and also pays a good dividend very rare for a tech company. As for Costco, it's occasionally seen its stock get hit after a big runs. I think you got a treat that as a buying opportunity to give you much more on that later. So stick around you want tried and true. How about Hormel, I mean Hormel, with our talking about yes, spam, the 42.4% yield. This is the limited edition pumpkin spice, which I've got to tell you is a little out of season right now but as good as ever, and will be as good as ever 24 years ago, just like it was 2024 years from now just like was 24 years ago. It's a time traveler. And it's the stock and stamp being from his highs even as Matt just made some terrific moves with the portfolio. Or you know what, actually not that much like spam Lululemon, they report and I think that's going to give you a fantastic set of numbers. Now I also want to hear from chewy to that still online pet food retailer that seen it stock get cut in half, I had posted some chewy toys recently. You get the pattern here. It's called a bear market people and you can digitize is getting pulverized. Alright, digitize pulverized Friday, we hear from a consistent healthcare name that I think could be a very good fit for this market. And that Centene Yes, Michael might work. The company's holding its analysts being where you're gonna hear a lot about battable cash flow and buybacks as opposed to some of the things you're gonna be hearing from some of these earlier ones. I like it very much. In the end, the strength in big cap stocks has masked the weakness in smaller players for some time. This was the week we're worlds collided. I love that book. Well, the beating continue next week, or is everything come down enough for that Santa Claus Rally that I talked to you about earlier this week to start early, maybe earlier than expected. The bottom line? I think we may be in for more punishment because the valuations got so out of control. But given the Crushing Blows we see so far there's reason to believe that we're getting closer and closer to the light at the end of the tunnel. And Oh Ha ha ha. It's not an oncoming train. Let's go to pull a Tennessee Paul.

10:06
Hello, Mr. Kramer. Thanks. My question. What's up? Well, thank you. I was wondering what your thoughts are on a retail stock. It's up over 400 kids this year but it dropped almost 20% on Tuesday and another 8% Today is p is below 10. What's your opinion of Villars ticker symbol dB s

10:26
you know, dealers has had a very big move up there a lot of other stocks that I prefer more than Dillards I would even tell you I prefer Macy's and Kohl's definitely more than doors. And I'm not just calling it Dillards My mom always quoted dollars by the way. Mom was kind of funny. Let's go to Lisa in Missouri, please. Lisa.

10:44
CREAMER Investment Club members. Thank you very much.

10:46
Yes. Good talk coming up.

10:51
On November 11, you had the CEO of Lockheed Martin on Mad Money, discussing the partnership with Nvidia using Lockheed AI technology to fight fires. And today they discuss defense technology on CNBC. Is it time to buy the stock is down 16% from its high and yielding 3.36.

11:10
I like Lockheed, I thought the interview of a bedroom. That was a really good piece. Have you guys heard Morgan Brennan talk about Jim, take a look today. She did a terrific job. And Caitlin told a great story. But remember, it's not really about the NVIDIA part. It's about much of the things that they do with the Defense Department. And Morgan pointed that out. But I liked I like Lockheed very much. I thought the North interview was too good too. I don't know if you guys caught that. All right, I think we will be in some pain next week. But given the Crushing Blows you've seen I have reason to believe that the Santa Claus Rally, who kicked it in sooner rather than later. You don't get days like this too often. Oh man, my boot barn he used to walk all over the competition's of over 150% this year, and I'm getting the latest of the Western wear retailer with the company's top brass. Then this week's volatility was a reminder make sure your holdings are diversified enough. And you don't just own every single tech stock in the book, which is why I'm playing EMI diversified. Save your portfolio could pass the test. And speaking of tests, you stumped me a couple couple of times a couple of thoughts. So I'm turning my homework on to stocks, one of which actually think you might want to pull the trigger on stay with Kramer.

12:23
Don't miss a second of Mad Money. Follow at Jim Cramer on Twitter. Have a question. Tweet, Cramer hashtag mad tweets, send Jim an email to Mad money@cnbc.com Or give us a call at one 807 43 CNBC miss something, Ed to Mad money.cnbc.com CNBC workforce Executive Council is a premier group of C suite Human Resources executives from leading companies across the country. It offers a members only portal and chat plus exclusive industry content. With access to Breaking News calls and digital networking experiences. The network and resources HR leaders need now applying to the workforce executive council at CNBC councils.com/wec.

13:25
After a brutal wave of indiscriminate selling, you got to circle the wagons around high quality stocks that are underestimated, but Wall Street stocks like Kramer fav boot barn, especially retail focused on Western work related footwear and apparel, we're gonna get to the differences the second boot barn never gets enough credit because too many money managers rarely leave Manhattan. And that's why they've missed the incredible rise in the stock from $8 that it's low in March of last year, just under $120. Today, it's not a DocuSign stock, I'll tell you that. But more importantly, we know boot barns in great shape because they just want to make some quarter lay lay October 62%. same store sales growth for everything in response to stock work from 100 to 135 of the next few weeks. Since then, it's been dragged down by the rest of the market giving back nearly half those kids. So can this be your chance right now to get into one of the best kept secrets in retail knowing that it won't always be secret. Let's check in with Tim Conway. One of our favorites his presidency of Groupon get a better sense of where his company's headed mission Conroy's so wait me back on Mad Money.

14:24
Oh, thank you very much for having me again. Jim. Great to hear your voice.

14:27
Okay. All saved. So I gotta tell you somebody in your last conference call that really good one that you did was Stevens invest investment. You described the two different kinds of buyers. There's the rodeo buyer and the NASCAR buyer. I think you can help our viewers by telling us a difference. Sure, our

14:47
our legacy customer was truly a Western cowboy often working on a ranch working with horses, etc. They would attend rodeos and live in a very much outdoor environment, what we've done more recently is really tried to expand the addressable market that we're going after. And by doing so, we've gone to a more what we call a casual Western or a country customer. And that customer, perhaps doesn't wear a cowboy hat, but maybe they do wear jeans and cowboy boots, and they'll go to a country music concert. But maybe they have a ball cap on. So that sort of strategic step forward that we took was was truly an effort to expand the addressable market that boot barn could could go after. Okay, yeah, we

15:37
know that too. So therefore, I have to reach the launch clusion that, frankly, you have more room to grow larger store cap, not just, you know, trying to do the same thing over here. But sport camp with a rodeo base they want to NASCAR base, you can put them everywhere. I'm not kidding, right? I mean, Virginia, that people think isn't Western and works perfectly?

15:59
That's right, you're exactly right. So we when we first went public, we thought we had the opportunity to grow to 500 stores across the country. As we've seen the performance of our new stores in brand new markets, like the ones in Virginia, or Ohio or Pennsylvania, not only we further emboldened by the performance of brand new stores in brand new markets and think we can continue to grow our store count there. But at the same time, we've been adding stores in mature markets and not really seeing much cannibalization. So when you put those two factors together, we think we'll blow right past that 500 store, sort of maximum, we had called out when we were in public. And we'll put a more precise number around that. But it'll be a couple 100 stores north of that. But we just want to add some analytics do it now at

16:49
same time. I don't know who's doing your E commerce work, but it's pretty strong.

16:54
Yes, it is. We're really excited about the E commerce channel. Really nice growth in sales, even more impactful than that is the growth and profitability of that channel. And I'd say that the last piece is one of the things we're most proud of in the most recent couple of quarters, is our ability to really integrate the E commerce business and our stores business. So we have roughly 1/4 of our E commerce, product sales are shipped to stores for pickup, we now have the ability to fulfill our ecommerce demand from our stores. We're taking ecommerce returns in the stores. So we're really trying to do is build that sort of overset intersection of customers that shop small channels,

17:43
lets you others are trying to do that they haven't been as successful as you are. One of the thoughts that I've been that I think people miss about you, you actually were an essential retailer during the height of the pandemic, maybe again, I'm trying to get people familiar with you who don't, don't know you, you stayed open the whole time. And it really had a major effect on your business.

18:06
That's right. So when COVID first began, began to emerge in the spring of 2020, by virtue of the fact that we carried work boots and work apparel, we were deemed essential. And what that enabled us to do is continue to serve as our customers, I'll be at sales were depressed in the stores for a short period of time, we were able to retain our store managers and most of our field team. And as you know, most of our competition within the industry is a series of a few 100 Mom and Pop Western retailers. And because most of them didn't carry enough work product to be deemed essential, they had to close down. And it was, to be honest, a bit unfortunate for them, of course, because they wanted to forfeiting a fair amount of market share. And we believe many of their customers to boot barn because we were open throughout that period of time. So it was a it was an opportunistic moment for us to sort of continue to be there for our customers continue to take care of customers that had gone to other stores previously that had now been closed. And as you look at the growth that we've had, over the last 37 weeks or so, roughly 80% of that growth has been due to the introduction of new customers to boot barn.

19:28
Well, you know, another time we might have just said, I would say focus on the price of oil, because people remember people trying to pay the price of oil. Do we still even have to think about the price of oil in boot barn?

19:39
I don't think so the price of oil had gone up over the last several months. The rig count had also been increasing yet. Of all the things that are working well in the business right now. The oil patch is still a drag. So if you think about our 67% growth versus a two year ago At a pre pandemic period that is with the drag of the oil markets hurting our our sales growth, hurting categories like flame resistant work apparel, so hopefully we finally unhinged the boot barn story from the oil story.

20:17
For Thanksgiving. I wear the hat. Everybody loved it. We were in a barn It was perfect. Our hats are bigger than we think. Right?

20:26
Yes, hats is about 10% of our business. If you combine cowboy hats and baseball hats, it's obviously very iconic part of our category. They are they bring this the fair amount of life and energy to the stores. We clean them and shape them in a hat steaming station in the front of the store. So it's it's a very important part of the branding.

20:52
Well look, yeah, you've done a magnificent job. I'm going to have someone on this week who immune to some of the crazy selling we're seeing, but if you weren't, I would just tell people this is the this is the next chance because poor you've got multiple years ahead of you, Jim, and you deserve it because you're really the pioneer in the category. I want to thank Jim Conroy's President CEO of Blue oyster shell show Have a great weekend sir. All right.

21:16
Thank you very much you as well. Oh, thank

21:17
you. Right this is one we've been home for a long time and that was from JP Morgan introduced the concept to me, but these are the kinds of stocks you want to look at on a daily today when it's like DocuSign is bringing stocks down? Do you think that is endotoxin right man monies back into the break

21:38
coming up, master the unknown. Be ready for any market. Another edition of am I diversified is coming up next.

21:57
It's been a wild as some would say hideous week, where we saw some major whipsaw action major averages. They were the Dow had an intraday high of over 500 points could be the same day plunges to close down over 400. That's what we saw Wednesday. So how do you hedge your portfolio in these crazy news crazy times? Well, I see you got to stay diversified. I tweeted that earlier. So you have to do that's why we're planning to diversify. This way you call me Tell me your top five holdings and see if maybe your portfolio is diversified. Maybe I'll mix it up a little. And we want to first up go to a tweet from Edward on Twitter who says at Mad Money one CNBC and the Jim Cramer heading into retirement redzone along with the s&p 500 mutual fund, I have Apple, Amazon Google JP Morgan, Tesla, Jimmy chill, am I diversify? Well, you've certainly come to the right place. I don't want the NFL red zone. That's where we are here. At some two mutual pickles. Listen, they're fantastic. Alright, so Amazon, we're gonna call it we're all we're calling it a retail. Okay, we're just gonna call it a vast digitization machine, which can fit a lot of different categories. Google is very similar. These are similar but they're different. I mean, different. They're conglomerates, but they work Tesla auto JP Morgan, terrific bank, Apple. Okay, so now we do have to pick. I'm gonna bless this oil because my chapel Trust has these three. I struggle over this because you see how they trade it together. And one of the things we're trying to do is eliminate the stocks that trade off the other one ETF. I'm going to let this other to bless this right now. I would not do it unless I had done it myself. That's true. And I said to Apple, you have to own it. You can't trade it. But of those three, the one that I am most concerned about right now is this one, because everybody's gun for Alright. Let's go to a video call from Lisa in Maine. Lisa,

23:50
booyah. Jim greetings from Ogunquit, Maine. I'm Lisa. Here are my five top holdings. Am I diversify. Best by Advanced Micro Devices, your favorite mine gin, Nvidia Sonos and Hasbro? Thanks for your help Jim. Happy Holidays

24:12
Happy Holidays. Well, we the smartest viewers have Gauguin Okonkwo emulators. All right now. Okay, so Hasbro toys with Mr. Gore I miss Mr. Golden very much. Sonos entertainment to home so we'll call that a home play in video. Well, I mean in video, you know, my dog in video. Okay. That's a chip chip company chip gaming Metaverse, high performance computer, AMD Oh, Chip gaming high performance computer. We're gonna have to make a choice their best buy too many of these guys chips go into that. So we're going to say no to Best Buy. Instead what we're going to do is we're going to put in let's put it let's let's go for something that is let's go for target. I pulled up with him the other night target is doing very well. Instead of AMD and Nvidia, what we'll do is we'll put in, let's do Raytheon. Okay. Raytheon technologies. Why am I doing these? Because I liked what I heard today for out of Boeing. But the we've got some good china news coming, but I rather play it with a more diversified way and you make those changes. And then you are diversified. Even though I love all those stocks. I feel like I'm compelled to make the changes in your day like today. Next up is Peter in Oklahoma, Pierre.

25:28
Hi, Jim. My name is Peter child's calling you from Tulsa, Oklahoma. Excellent. The companies that I own or Apple is Phoebe financial. Pioneer nitro resources, snowflake and Molina Healthcare. Hey, Jim, am I diversified?

25:53
This is what I'm talking about. I'm looking, I'm looking for this kind of portfolio. So the slogan Shaco I said, What a great conference was to, by the way, really terrific. Okay. This is basically data. I don't want to call it data warehouse, but he's got it's a lake warehouse. He's got a lot of sophisticated terms that he uses. Frank is great, but it's a great way to store your data. Apple we know obviously is terrific. Pioneer is one of the three that I'm recommending Chevron, I like pioneer, I like I like Devin here. Okay. So Silicon Valley Bank. All right. We got a bank out of growth area. And Molina is a terrific company, but I would replace that with 70. Okay, so healthcare, financial oil data, and the great consumer technology Cody Barton, and I like those very, very much. We got one more. Do we have Todd in Iowa, please, Todd?

26:42
Hi, Jim. This is Todd from Iowa. Thank you for taking my call. And we'd like to thank you for being educational and entertaining. Both Thank you. My stocks are three M GM PM. IBM and Cleveland cliffs CLF thank you for your help. Am I diversified?

27:04
Alright, I get a lot of EMS there. Okay. Okay, all right. Let's go to our GM Mary bars to remarkable job the stock is too cheap on the bar. Okay. Bingo. Buyer, GM buyer. IBM. Very tough here a couple bucks today. I want to see this quarter. I'm not a buyer until this quarter. So we're gonna put a placeholder there. Okay. We don't want that stock right here. cliffs. They hate cliffs right now. I like cliffs because they hate cliffs. I think it's going to do well. Philip Morris. We don't comment on tobacco because there's no need because we don't want to see. And then three M is down so low. I want to want to buy it. So we got a tech. We had a conglomerate. We have inexpensive stock in GM. We've got IBM waiting for the quarter cliffs down and out because people think we're going to recession which is completely not true. And Philip Morris, you're on your own not going to comment on it. Wow. Hey, one more. Last, last but certainly not least, let's go to Franco in New York Franco.

28:05
Hello, Mr. Kramer. This is Franco from New York, New York. My five stocks are Marvell, IBM, Chevron Knight, and Microsoft and my diversified.

28:20
These are so tough. Let me tell why they're tough. Mike, so it's gonna have a great quarter. It's accelerating revenue growth. Right? It's just terrific. But it is tack it says Marvell now Morville had amazing numbers guided up and really made it indicate that next year is going to be even bigger. We're going to call this semiconductor and we'll call this just enterprise software. Okay. So that's how we're going to be able to try to say that they don't necessarily trade together. Now. This was a huge this was down to us. But this did report listening. IBM again, I'm going to defer to the quarter. We got to see that quarter. We got to see that quarter. Chevron. That's Mike worth, you know, I think he's spending $10 billion to have really good environmental products that will make money and send some boost to the buyback yesterday. He said Java nine Nike, I believe that the Chinese are making nice with Nike. Remember, Nike has to deal with the Chinese with the Ministry of Sports. So we've got athleisure athletic, we've got chips, we've got enterprise software, we have the oil company that I like your life with by the way more than 4% given and then we're gonna have to play sold IBM we're not ready yet to pull the trigger. Wow, okay, there's much more mad money had you stopped me on a couple of stocks that have helped Okay, one, it's been barely damaged over the last couple of weeks of something a tournament homework. I'm so excited about what these people producing by the way, in a more diversified. Thank you also for our staff that does it. Because this is what real life is about, is trying to make it so on days like today, where tech crushes you that you have something else. Charlie Munger called the current market crazier than the.com Boom. But he highlighted one key holder you the child will trust is worth noting, and it's applying it next week when they report I don't care. I think that it's about long term investing and of course, your pulse rapidfire their decision later

30:09
Whenever I get a question about a stock that I just don't recognize, I always promised to research it and then circle back so I can give you a more informed opinion. So as we get closer to the end of the year, I got to catch up on our homework. Now that we've got two relatively unknown names and sectors that are right at the center of the sell off over the past couple of weeks, one of them's held up, okay? The other badly damaged, let's take them in chronological order. Back on October 20, Kevin in Illinois, SP. V. Tex VTS AX, which is a cloud based e commerce software company that's focused on Latin America. They help brands and retailers set up their own digital marketplaces. Originally V Tex got its start doing e commerce for Walmart in Brazil. But then they branched out. They protect the rest of Latin America, with the company also expanding into Europe and North America more recently, still, last year, VTex got 94% of its sales from Latin America, and more than half from Brazil alone. It's an emerging market e commerce play. Management likes to point out that Latin America had the fastest growing market for E commerce last year included a 37% clip, leaving the rest of the world in the test. Now if you're feeling generous, you could describe V Tex as Shopify for the southern hemisphere, except they're more focused on large businesses, not just smallest. Within Latin America, V Tex is already the largest provider of digital commerce technology. Now they've got more than 2000 customers across 32 countries, including such huge names like Adidas, Whirlpool, Samsung, Sony, Nestle, among others, their technology is embedded in these large enterprises, which is a good place to be. And in many cases, they're also taking a small cut of the transactions that they facilitate. What about the numbers? Like so many other ecommerce plays Business was booming for VTex in 2020. Well, of course, the pandemic forced everyone to shop online, but their growth has slowed dramatically in 2021. Now, what's not DocuSign keep listening VTex had just 12% revenue growth in the most recent quarter. That's down from 140% in the same period last year, as profitability, they're close to breaking even 2020. But now let's go in the wrong direction, too. It's not that the business had gotten worse. It's just that they're up against some insanely difficult comparisons last year was unique. Unfortunately, beat Tech's didn't come public last year it came public this July. At first the deal was pretty well received the IPO price 19. A couple bucks above the high end of the range, then opened at 25 on the first day of trading for reaching the low 30s by early August. Since then, though, what's happened like so many others, yet FedEx has steadily been working its way lower, seeking all the way to 13 change as of today. That is a hideous decline. There's no clear catalyst to explain the stock center performance, although part of this is because it's a victim of the rotation away from fast growing tech stocks with no earnings to more value plays. But it's not like Wall Street hated this thing when the quiet period for analysts ended mid August, but most of the analysts were pretty positive. At worst. They were mutual. However, the stock plunged from 29 to 21. In these negotiations were rolled out which just investors were expecting analysts to be a lot more effusive. I think this is another case where it overhyped IPO that really out of hand, the public investors ended up being punished, just like we talked about last night with all birds. Well, the ticks report it's not so hot results a couple of weeks ago, showing a big slowdown in growth coupled with soaring costs, measures guidance was pretty much in line with what the analysts were looking for. Plus the stock had already been battered by then it's been hit much harder since Fed Chair Jay Powell seemed to take a more hawkish turn and the whole growth edifice got crushed. But you don't need me to tell you that every one of these growth stocks looks the same. So where do we come out of this? VTex can really be Shopify for Latin America the same way the incredibly successful micarta Libre is the Amazon of Latin America stock by the way that we liked since the start of this whole money started. It's certainly possible. I like the fundamental store here and the stocks already come down a great deal. One problem I've got no idea what could cause this thing to bottom here at 13 and change. I'm on the fence. How about this if it goes below 11 will be traded less than 10 times 2023 estimates. I feel pretty bullish. That's a good level. Now if you like V Tex you got my busting speculate on this one. As long as you do it smart. That means putting on a very small position now and then gradually buying more on the way down and what I call the pyramid fashion. Next up October 26. Greg in Georgia What about a thing called prog holdings pierogi holdings which is another one that I've never heard of? That's really stumped me. This is a financial technology company a little reminiscent of a firm holdings the Buy Now pay later kingpin except prog holdings gets the vast bulk of his business from its progressive leasing business okay. They offer lease to own transactions to people with not so good credit via their point of sale partners, mainly retailers. Now profit was created when Aaron's the lease to own retailer broke itself up last year splitting off the retail side from his financing division. I think it's got a lot going for it. Although you need to remember that the FinTech stocks now are among the most heated stocks and the business. That's all those different payment companies, regular viewers know I like these companies. They're using artificial intelligence to upend the credit industry. Their technology can identify good borrowers, even when they have bad credit scores. Remember that anomaly, however, I think you can do better than Prague. When the report is most recent results. Sales came in weaker than expected and worse management cut the full year forecast. But what's wrong? Well, Prague's least own businesses deliberately set out to chase it for consumers with with terrible credit, people can't usually get financing lending money to people with bad credit is an inherently risky proposition. You get hurt when the consumer is weak, but just as important, important, you also get hurt when the consumer straw right now the consumer is very strong. When people are flush with cash, there's really less need for products financing services. Maybe that's why the stock has struggled to gain traction since the Erin's breakup a year ago. The best thing I can say about potholes is that it's got a cheap stock. It's trading less than 11 times next year's earnings estimates. But sometimes stocks are cheap for a reason. And I think that this, this is one of those times that monies back into the brain.

36:06
Coming up, a storm is coming. So give us a call. Kramer's got the answers to all your burning questions, though. Lightning round is next.

36:25
It is time. And then the lightning round is over. Are you ready? With Eric Arizona, Eric. Hey, thanks for having me. Jim.

36:39
I'm a new kid in the market, new listener series therapeutics. Love what they're trying to do. I was a nurse's aide before as a teacher. So I've seen how C Diff can just totally recommend nursing home and hospital and gain

36:55
your younger person and you're you and you're new and I think you can buy it. It's too. For an older person. It's too speculative, because your company's not making any money. I liked your call though. I like it. Let's go to joy Massachusetts, Julian. Hey, Jim, thank you so much for having me on. Man. I'm really interested in Viacom, CBS.

37:15
I think it's a good long term science. Okay.

37:17
I think that whole business is under assault. You can mention any one of these. I think it's just okay. All right. I mean, it's well run but it just Okay, let's go to garish in Texas. garish

37:28
by Fuyao. Jaya. My question is on lower back. It is a phenomenal vaccine. Not getting approved in us. Looks like a bright future but the stock is not moving.

37:41
It's not I mean, it came on like gangbusters. We all thought they were going to be equal. I like Pfizer. Okay, Pfizer's got the pill coming up to that's the inexpensive way I feel safe with Pfizer mark in New York mark a Jim thanks for taking my call. You're quite welcome your Office Depot Amazon I need that company it is Amazon roadkill let's go to Jacob in Ohio Jacob.

38:09
shoe retailer got to pick through yeah, here we go. Hello. How you doing today?

38:12
I am doing well. Thank you partner.

38:14
How are you? Really good. Really good. Hey, so with recent fire, sales of stocks and some states looking to legalize cannabis use. I don't want to buy the very root of cannabis owned by the company that supplies the shelves. My stock is bro generation has to

38:31
grow. We got on the teens. And then when it got to the 40s and 50s. We said we've had enough. We've made too much money. Let's not be greedy bulls make money bears money Hogs get slaughtered. And we said sell and we have never looked back. Robert in New Jersey, Robert. Creating Jim how are you? Good. How about you, Robert?

38:51
Great. The stock I want to discuss with you is Canopy Growth. Without canopy in the rest of the cannabis sector selling off since February. Would you be a buy?

38:58
Point at nine bucks? I guess I would I mean, my problem here is that this did not have a good quarter. It's not doing that. Well. My solution is is that it's got a big stake. Constellation brand zones. It's run by a very good guy, David Klein, but I've got to tell you, I don't like cannabis. I just don't. I think it was an overhyped business, not unlike what we're seeing right now in the gambling business, which is just brutal. Let's go to Virginia Gus.

39:29
Hey, Jimbo, I want to ask you about Palantir technology

39:33
called Cold stock. The cold stocks aren't work. Okay. I think it's got I mean I read the business he came understand what they do because most of its black box. I have we fooled around that we traded but no, it's cold stock, right? It's not working Jr. in New York, Jr.

39:50
We Jimmy chill, taller, longtime viewer. Since all that you do Jim we really appreciate your insight on the market. Thank you. I'm calling about ticker symbol wi sh context logic What are your thoughts?

40:02
We actually think this company's decent copy it and throw it away. I mean look, he buys three can go to zero I guess so but it's it's a good spec and legem lightning round.

40:16
The lightning round is sponsored by TD Ameritrade coming on Charlie Munger had family size praise for this stock. Should you be buying it in bulk? Kramer's got everything you need to know next Monday kick off the trading day was squawk on the street. From post nine at the NYSC

40:45
no one is like that guy. He will not lose. He comes on and he is TNP he's total TMP tmp. He takes no prisoners. TN, TN see,

40:58
it all starts at 9am Eastern.

41:16
It's about time somebody big in finance finally gave Costco it's do recognize it as a shopper spin ads and it's run right and fly straight. What makes it even better is that this praise came from none other than Charlie Munger, the brilliant partner of Warren Buffett at Berkshire Hathaway. And why aging talk recently given the 97 year old monger had a lot to say about the current stock market, clean equation the.com Boom despairs the valuations of many stocks. Hey, listen what you saw what happened today? There was some or do I any lashed out of his cryptocurrency saying and I quote it should never been invented. But I want to talk about his incredibly positive view of Costco, a key wholly owned by child Trust, which is the companion vehicle to the CNBC Investing Club that I tell you so much about monger loves going to Costco, because its membership based business model holds down costs. As he puts it, people trust it, and they have enormous purchasing power to reduce prices. In fact, he regards the very idea of trying to compete with them as I quote, a sentence from hell. He also thinks Costco is digital business could eventually become a huge internet player by rival Amazon. I couldn't agree more. Now I kill these comments because I want to teach you about the dangers of short term thinking. You see earlier this week Costco reported to member sales numbers, and they came in 14%. While she was looking for 15%. Some analysts noted this represented a deceleration from the strong figures that they come to expect. Now when I saw the numbers, I have to admit my immediate reaction was like holy cow chapel church planter sales of this darn thing, take some profits while we saw it. But then I thought about it some more. And I realized that Costco could easily raise the $100 $120 price of an executive membership by maybe as much as 100 bucks, and very few customers wouldn't balk. That's the kind of bargains and that's because as Margaret points out that membership fee is a huge bargain. Remember this man is has he's a billionaire, okay? And he's focused on these things. So we decided to hang on to Costco for the travel trust. There are periods where even great retailers miss the numbers ever so slightly, and I figured this was just Costco his turn. The toughest thing about owning a stock long term is simply having the fortitude to stick with it. I am sure I will want to kick myself when the company reports next Thursday. It'll be a little bit of a drip Debbie, someone's going to be disappointed. But again, same deal. A sell off in the stock of a great company is an opportunity, not a reason to turn tail. People always seem to misjudge it. They say wait a second, something must be wrong. Now you should be thinking, Hmm, something's right there. As I see it, Costco is the number one most important quality and great stock. This is a company with the ability to raise price at will, they could snap their fingers and become more profitable overnight. That makes Costco a member of a very small club. We know Chipotle could take his prices up and I bet most people wouldn't even notice their loyalty factor is gigantic. Apple gets away with some people think is highway robbery every time they sell a smartphone. Because the major wireless carriers covered the bulk of the cost, same thing. But the main ones, the ones that really like our IDE Netflix, Amazon Prime to the point where we own Amazon for the travel trust, Netflix and Amazon prime are my favorites because I'm confident they could raise prices substantially and very few people would balk. I think Costco is no different. Honestly, it feels a little quaint to judge companies based on something like pricing power, especially if to the string of overhyped IPO debacles where business comes public arm with a little more than a semi popular brand. Think lemonade or my favorite Dutch Bros. The stocks done actually well, but it's a brand Allbirds the Honest Company, clear secure, there's not doing so well. Call me old fashioned, but I'll take pricing power over hype power any day of the week. So do like we do for our Investing Club and ask yourself, do you own the stocks of companies that can raise prices with impunity, but choose not too because they want to keep the growing based customer base happy. They care about the customer. Why would you buy the stock of some aimless retailer when you can go with arguably maybe the greatest of all time, go with Costco. Let me put it this way. In a world we're already beaten down gross stock so I DocuSign can lose 42% of its value in one day in the wake of big earnings miss and no one seems to be interested in buying even down there. It's delightful though something like Costco, which can miss numbers slightly and barely get dinged. Or as Charlie Munger says we are lucky to have Costco. I like to say this awesome bull market somewhere I promised I'd find it just for you right here man money.