文字起こし Mad Money w/ Jim Cramer. 05/03/22

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。

Welcome to Mad Money. Welcome, Cramer. I've built my friends. Just for me. It's money. My job is necessary we can potentially teach you call me one 800 743. CBC tweet me at Jim Cramer. It's the interest rates stupid. Yeah, that's my take on this market is the yield on the benchmark 10 year Treasury spike above 3%. Stocks then crash and then when the tenure came back down. Stocks recovered Dow finishing up at four points. s&p advancing point five 7% and the Nasdaq actually jumping 1.6% After being crushed when rates broke through three. It doesn't seem to matter what most companies do. Their stocks are hostage to treasuries handcuffed to the tenure upon a 10 year treasury and it's determining every day. It's ridiculous to see what happens when you go lockstep because it chokes up any good news. Consider some of these incredible deals you got in the Dow Jones Industrial Average stocks today. Yes, today. Stocks are real companies that make real things they make money and return money to you. These are stocks that have been incredible shrinking price to earnings multiples. Remember that's a do apples to apples and into space. The feds next rate hike on Wednesday and the tenure today. Now I'm not talking about the end of the day with Zenith I am talking about the best the Abyss where we were at midday today where the world seemed to think it was over, sell, sell, sell, sell, sell, sell, sell, sell, sell, sell, sell sell when the Dow was down 500 points looking like there was no floor no exit. But we got that big oversold bounce that took us back into positive territory. Now there were some incredible prices there for the taking. But I didn't see anybody wondering. 2:24 Oh no, I was watching guys on TV saying listen, there's no hope. There's no hope it's over. Forget about it. Rich people of course don't want you to make money. Right? Why don't we start with American Express? Okay, here's a stock that's been slaughtered, slaughtered beyond all recognition, frankly. And it's shocking to me. Why? Because it should not have been laid to waste. Look at the earnings it smashed the estimates and put a great reopening story there our show since then what's happened what's going down 14 points quitting three alone today won't put us down seven. But that has nothing to do with Amex is purely the bond market talking saying the future earnings will be eroded by inflation. Yeah, it is. It's like those thought you don't like those weird dolls. You know, they talk Sr, Winston's kind of thing. Then there's coking coal, which supported a sizable earnings beat with management telling us their organic growth rate will accelerate to seven or 8% Coca Cola, stock spiked to 67. Oh, it's given all that back to 63. Like who cares, right? You're getting that buy this in quarter for free. Why? Because when bond yields jumped to these levels, their competition gets crushed. And the competition's high yielding dividend stocks, like Coke doesn't help that we're also worried about raw costs and freight. Okay, now, I get it. The two year gives you a really great return to your 2.8. That's terrific. You're fine. It's fine. But I'm trying to do something bigger here last July before the Fed declared war on inflation visa. Yes, traded at 20 bucks. If nobody had no idea how it's doing. Last week fees reported commanded quarter I thought it was probably best ever. By the way you can say the same thing about MasterCard. And what happens? Well, the stock grabs 10% As it should briefly change it to 20. Now it's back down to level 1.3. It was 207. Once again, it's not that Wall Street hated the quarter. It's at this markets unwilling to reward a great company with a higher share price because the whole asset class stinks right now. And the bond market smell like a rose. I wish you could see how angry I was that my childhood just failed to pull the trigger on j&j Before that magnificent quarter when divisions are all going full throttle, consumer pharma formerly underperforming med tech, we had to watch the stock fly from 177 to 186. I mean, it was just incredible. I just said they know nothing meeting me. Guess what? Earlier today was back at one 177 logins it was like, hey, no thanks. I'm scared to who at least for now, as stocks are frantically just new, this new world where the 10 year yield north of 3% Suddenly j&j is 2.5%. Yield, slightly less enticing, right? Who needs that? Who needs that? Well forget it's a great American company who needs that? Next step, it's hard to do better than the UnitedHealth Group, which had a pyrotechnic be much better than expected earnings insanely better than expected earnings. And that's why the stock really spiked 553 You'd think it would be a slam dunk, it's about 50 points, except just over two weeks later, the stocks back to five or one extraordinary decline for this pristine coming again, has nothing to do with the price with the company itself. It's all about the price earnings, multiple markets have been not willing to pay as much for these future earnings in this new environment. Whenever interest rates rise rapidly price to earnings portable start shrinking. So what do we want? We don't want Coca Cola? We don't want American Express. We don't want visa. We don't want UnitedHealth What else do we not want? How about Goldman Sachs? Yeah, once again, they shot the lights out of the sea earning $10.76 I know I would have been happy with nine bucks the new $10.76 Hey, you know what, who cares? Once again, it was enough to get stuck any respect. In fact, Goldman's price series bowl was now shrunk from nine times earnings to roughly eight times earnings. That's a stunning decline in what this markets willing to pay for great American investment. Yes, I work there. Remember, this is not about forecasting the future of Goldman's business. It's just that the markets paying less for really all merchandise. Even that merchandise is earning much more than we thought. So what do we do with Goldman Sachs? Well, let's throw that the hell out to us. I remember how worried we were that Nike would get crushed because China's falling apart. Oh, those words were unfounded. Nike posted a huge feature was even problem. Just the stock falls from 130. Just under 140. Yes. Now the whole moves been repealed. It sounds 126 sec. The quarter never happened. Let's get rid of that something. That stuff. How about IBM? That magnificent quarter, right, push it from 129 to 141. Real breakout at least until the stock rolled over back to 133. Today I'm gonna point it was at 130. It's an amazing downfall for stock the reflected the new leaner, meaner IBM. Okay, so we'll throw that one out, too. Why not? Just forget those. All right now? Sure. There were some real just awful. Boeing had a very bad quarter now, but very bad. What am I kidding? It was it was stuck 3am And nothing write home about there. Um, but I could go on with five more companies in the Dow, I could have fit him in this. But he started to say you owe me something 14 Or worse, which is held on with tapas. That's the way we think. Now I want to be crystal clear. When stocks are going down all at once, with no place to hide, like we saw earlier today, then it has nothing to do with the companies themselves. It has nothing to do with these companies. Nothing. These are great American companies and you could own a piece of them. When you buy here, I know you're fighting both the tape and the fit, which is going to tighten up hopefully aggressively on Wednesday, to get these to fit us out of my face. The tenure Touchstone 3% force you put back in the interview, that's all about inflation, because the Fed will soon become inspired holding, so I expect higher, even higher rates. And that's why they keep pulling these away. Now, you might think that some of these stocks were too cheap to ignore the lows, we certainly did some buying for the chapel trust, because the proprietary SMB oscillator that I've told you about a gazillion times, hit a negative five rating, which means you got to start buying and you can't sell anymore. It's just the way it is December 2007 2008. But we weren't taking our lives in our hands with these buys. Because the treasury yields had kept climbing, we would have been crushed. And that's why we only committed a fraction of our cash about 1% of our precious cash, I should add, because if we had gone to three and a quarter in the tenure, then everything I bought, well, let's just say it would show that inflation wasn't picky. More on that later. You can't be confident that paint is over. So why do we buy at all because I think things are better than others do. I think the asset class is nowhere near as tainted, some seem to bleed. I'm willing to take a bit in order to purchase stocks that are just to keep the moment. Even with that turn tenure three. I bet it'll turn out to be great by some day. Sometimes I just don't know when maybe today given the rebound from the lows. Maybe tomorrow, maybe next year. I don't care. I want pieces of these great American companies. Here's the bottom line. This is my eighth tightening cycle. I know from experience that if you wait until the Fed is done and face is broken, it'll be too late to buy. You'll have to anticipate the baton and pick it inflation just like today where the market looks so treasures and then turn plastic. You have to accept some short term losses. Remember unless you take them not if he can't take the pain though. Go ahead and swap it in treasuries now through yielding near 3% It's a decent right. Go knock yourself out. Me. I wanted to better John and Texas John. Jim Cramer a Texas says booya to you Well, that's a pretty darn big booty out. Okay, and I'll take it. Good morning. So the Russians just so we keep in perspective, what's going on? Yes, sir. 9:34 Hey, I call it in to talk to you about liquefied natural gas stocks. I love shinier energy. I've been with them for quite a while. And I'm thinking I'm not saying they flatline but their stock is ranging, you know 135 to 150. And I really am thinking about cashing some of it out and going with tell you rain. 9:58 Well, you No, no shear was set up by Sharif Suki the great tree Sookie when it was an $8 He came on the show he's he was buying a ton of for himself, boom, pick up one or 50 points. You can you can do that and treasuries by the way, I liked the idea of going to tell her to Laureen because that's also him. Now he's chairman or he's not day to day, but to Lauren's a nice option on what's going to be the strongest country on earth when it comes to natural gas, which, by the way, is not Russia. Okay? It's not guitar, it's going to be united states. Alright, ladies. Oh, here's some good companies. We don't want to touch them, right. I mean, you can't touch them because there's some bond that is like guide like it's called 10. All right. This ain't my first rodeo. I know that if you wait until the Fed is done and inflation is broken, it's going to be too late and they will break it. But you have to take some short term losses. Hey, but you know what, there's this great that if he can't take the pain, just buy treasuries. Watch the show little extra enjoyment. Man money tonight, air environment has sent seven or drones to aid Ukraine, Ukraine and its fight against Russia. And I'm learning more about the company powering the defensive technology with the SIOP. I think if it was 7000, the word would be one but I don't know if the NSC wants to do that. Best Buy has a plan to be a strong corporate citizen. I'm discussing the company's latest initiative, the company's top brass and five nine has soared in the last week yet to earnings. So what was behind this quarter? Was it Cathy wood? Ha we got to stay for the interview. Stick with Kramer. 11:30 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 head to Mad money.cnbc.com CNBC is 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 jaunt plus exclusive industry content. With access to breaking news combs and digital networking experiences. The network and resources HR leaders need now applied to the workforce executive council at CNBC councils.com/wec. 12:32 Since the beginning of last year, our government has committed $4.6 billion to helping Ukraine fight off the Russian invasion. President Biden is now talking about increasing that number, maybe even dramatically. But there's all kinds of military systems some more useful than others. Personally, I was heartened when I heard several weeks ago that we were given Ukraine, a specific arm drum it was called the switch plate of different kinds. Go look up the website was able to fly around for several hours and identify an appropriate target flight before flying right into it kamikaze style. We're familiar with the switchblade because we know the company behind it, a relatively small defense contractor called aero environment that makes some of the best troops in the business. They even let me fly an unarmed version a few years ago, at this point 700 of the switchplates has been committed to Ukraine. And we want to know more about what that means to both the battlefield airmen vibrance business going forward. So let's go straight to the source. I'm really excited about this. We got Vahid, the lobby, He's chairman, CEO of air environments. Great shooting guy, Mr. Wahby. Welcome back to Mad Money. 13:29 Thank you, Jim. Great to be with you. 13:31 Okay, so he, it is vital that the Ukrainians I think get to 306 100, both to be able to identify targets, but also to take out tanks. Are you are is our government giving an ordering enough? And can you handle the orders? 13:50 But the short answer is yes, they are providing both of them to the Ukrainian. Military and government. We stand ready, we have plenty of manufacturing capacity, we could obviously use some help in terms of expediting the contract process, and putting us somewhat higher in the supply chain to be able to get access to parts and especially to semiconductors and microphonics. In order to make a lot of them make 1000s of them. We do have the factory and us that can produce 1000s of the switchblade 306 100 It's dedicated to that switchblade line. 14:27 Are people buying people who are sympathetic Ukrainian cause are going to the website of buying these incentives Ukrainians. 14:38 Are you referring to the US government and 14:40 I'm wondering whether people who are who feel that the Russians are wrong. If go to your website, you can order these and are you allowed to give them to Ukrainians. 14:51 So the yes the US government has given us support to be able to exports with display to Are many of our allies, specifically to Ukraine. And we're working with them on that process. There's two ways we can provide switch way to them. One is through a foreign military sale through the US government, where we provide the systems to the US government, and then government, the US government takes care of the shipments to Ukraine. And the second way is that we could actually make direct commercial sales to the Ukrainian military. And we're working both angles at this time. 15:26 Okay, that's what I wanted to know. Because it seems that if our government's going to wait and dinner, it's not going to happen fast enough. Now you've got a competitor here in this Phoenix ghost. What do they haven't yours doesn't have. 15:38 So there's a lot of misinformation about the Phoenix ghost and relative to switchblade, Jim Switchblade is extremely unique, it there is nothing like switchblade that is truly a Tube Launch loitering missile system. To our knowledge, the ghost UAV it's a multi rotor UAV that can carry some sort of weapon systems. But it's not very clear. I do know that Switchblade is unmatched and unparalleled in its mission capabilities and its features and the way it operates. It is a complete different class called a loitering missile. And that's very different than what I know and what I've heard about the ghost UAV. 16:23 But what I saw when you came here was something where it is possible that you could literally see someone with the joystick, and they will be looking up and they would be obliterated. Is that happening even to me, perhaps two generals of the Russian side. 16:42 So I can't comment specifically to the Ukraine conflict because of the security and safety of our allies and our military. What I can tell you is that what you described is exactly the type of mission that Switchblade is designed for switchplate 600 specifically is got this similar to a javelin warhead, but it goes 10 times further, and you can launch it without the operator being this this disclosed are known as to where they are, you can also watch it without having a target on your visible light eyesight. And so because it can go 10 times further, and it can lawyer for almost one hour when it gets to the area. It makes it an ideal weapon system for the kind of conflict that we're seeing right now in Ukraine and any 17:27 attack it can take out a tank baleen tank in a in a convoy of tanks going to eastern Ukraine it can take up to the first tank. 17:35 That's right, it can it is really literally if the Ukrainians had 1000s of switchblade 306 100 Enter hands, this conflict would have had a completely more severe outcome for the Russians today. Because the type of caravan of artillery and tanks and armored vehicles that we saw and supply vehicles, they could be taken out like literally popcorn with switch blades, because one operator can also watch multiple switch blades, and literally put them on loiter, and then designate targets one at a time or more on the same time, and then take out several several targets at once. Wow, this is a capability that is really, really unique and unmatched in the entire world. 18:21 I hope they're listening. One other thing. The other company that had been dead I felt was dominant was a company called DJI. They are Chinese sir. The Chinese have no interest in helping our military had no interest in OPM country, how did they get to be such a dominant player? And will the army really still use anything they have. 18:42 So to my knowledge, that they're not allowed to be used in the military applications, they are really a consumer prosumer drone company, rather than a industrial and in military grade a capability. A none of their UAVs that we know that we are very familiar with have the kind of tip of paper capability that our systems have. And they don't really operate in types of environments that our systems can operate. So jump 20 Medium UAS, which you see a picture here above me, it's a group three UAV, that can actually even carry switch plates under its wings. This is a UAV that's made for this type of conflict, they can fly up to 13 plus hours, you're talking hours of operations and flight time versus minutes. And that's a complete different ballgame when it comes to this type of account. 19:30 If someone's watching, and they are intent on trying to stop the Russians, should they what's in the EU, right? Their congress people, right, someone to be able to say listen, I just watched this gentleman who's from Afghanistan, who knows what the Russians can do. And I want those machines in the hands of people who are our friends. What are they? 19:50 So you're absolutely right, Jim. I was born and raised in Afghanistan and can't United States because of the Soviet invasion and conflict in Afghanistan. In an early 1980s, and so I know firsthand exactly how the Ukrainians feel, and the disruption and the chaos and the catastrophe that is caused to their nation and their people is just heartbreaking. And so we stand by them we sustained by our military, and we need to equip them with this capability because the Russians don't really have a defeat system for this. This is the capability that is changing the outcome and will completely change the outcome. They have 1000s of in their hands. 20:30 All right hope people watching. I hope people watching because you I knew if I had you on, people would get it to hear the truth. And they just did. That's why even the lobbyists chairman, president, CEO of AeroVironment, I've used these machines. These machines are what the Ukrainians need. Thank you, sir. Thank you, Jim. Great to be with you may have monies back after the break. 20:56 Coming up. Last month, Cramer got to the bottom of this by get ready for another chapter of this consumer electronics story next. 21:15 This week, the network's added to the NBC News umbrella, we're holding our second annual inspiring America event. Here at CNBC. We are talking with unbelievable people, outstanding business leaders whose innovative practices inspire their employees, their customers, and the world at large. And that's why earlier today we spoke to Cory Berry, the CEO of Best Buy who does such a good job talking about our business and the great work she's done. Creating team tech centers were underprivileged, kids learn how to use cutting edge technology that would never have gotten it through schools. Take a look. To Great thrilled to be with you Cory, the thing that I want to talk about most is the fact that a lot of our younger watchers will not even think about buying a stock unless they know what you're doing to help society you are an innovative leader. That's why we've come to you, why don't you talk about some of the things that you're doing? Because they may not short term healthy earnings, but long term. They're fabulous. Yeah, 22:11 I'm going to start there. Actually, Jim, fundamentally, we believe that the work we're doing social environmental drives long term value creation for the company. And you know, I always start with our purpose. Our purpose is to enrich lives through technology. That's not just for one segment of customers, that is for society at large. So one of our efforts is our teen tech centers. We've been opening these since 2013. And we now have 4746 of them, excuse me open, I get excited. And they are after school facilities for kids. We start in middle school, where they can have a safe environment usually paired with a local nonprofit. And they have access to tech, everything from 3d printing, to sound mixing to graphic design, to coding, all of the tech that they may not otherwise have access to the whole trick here is access for disinvested communities so they can start to see careers and start to literally at high school ages, build award winning photography and videos and just understand what a career of the future could look like. So we have mentors, we have training. These are the pipelines for the employees of the future. And they are incredibly powerful. We know they work, because now we have almost 10 years of history, watching our kids go through these programs. 23:27 Well, I've got to tell you, I watched the video, the LA Community Impact Hub documentary. And what I saw were people being able to express themselves technologically that otherwise I think, Cory We have to admit the school system does not provide. 23:41 And that one is such an interesting example because it is a public private effort. So we have committed $10 million for 12 teen tech centers. We're partnering with the county who's also committing funds. We're partnering with local nonprofits like the Annenberg Foundation. And what that one builds is pipelines right into entertainment careers. So someone and one of the kids can learn about graphic design, they can learn about sound mixing or video. And then they can take those skills right into certification programs, and then take them right into careers really well paying careers. And in the entertainment industry, almost everything is done on the back of technology. And this is the perfect example of a pipeline for the future. 24:22 I have to tell you, some of our people in the office, were talking about how to dispose our computers. And we just said you know what, you throw them away. There's nobody who picks them up. What a mistake. What you are doing and recycling is monumental. Well, thank 24:40 you and I am incredibly proud of the team's work here. We have been leading in recycling since 2009. We've recycled over $2 billion dollars are 2 billion pounds excuse me worth of products. And that is right now until this point people bringing them to our stores and US responsibly recycling those products because again, Jim This isn't it Just like a sweater that you might dispose of this is technical equipment, it needs to be responsibly recycled. And now to your point, we just launched a service where we will come to your home. And for a fee, we will take two large products think appliances or TVs and unlimited small products, we will take them from you. And we will responsibly recycle, reuse, refurbish, get those products back into the ecosystem responsibly. 25:25 Alright, tell me what it's like to work at Best Buy and advance yourself you have a social impact officer. If people come up with ideas? I know they do. How do they express them? And how does it move up the chain? And how do they get valued for doing the right thing? 25:40 I think one of the most unique aspects at BestBuy is the long term careers that we create you and I've talked before our general managers right now have 6% turnover. So they have vested interest in their communities, in their employees in their customers. And we have very robust communication pipelines, they go back and forth continuously roundtables, events, every chance that we have to hear directly from our associates directly from our general managers, because they're the ones and actually, many of the ideas come straight from our customers, to your point exactly about the conversation you're having with your friends, we hear straight from a customer, I wish you would just like come to my house to pick this up. I wish you would refurb this product, I wish you would take back my product and give me money if it's worth something. All of those started from our customers from our employees. And now they're a huge differentiator in what we do. 26:31 Alright, just to pivot for a second, you are in touch with your people who are on the floor. And we love them, I go to Best Buy all the time. The one thing I can tell you, though, is that they know what's hot and what's not. We spoke before about the gaming cycle, I am beginning to believe that the gaming cycle is running its course because people want to be out. Are you seeing that? 26:53 Here's what's interesting about what we kind of refer to as the gaming cycle. Gaming is much bigger than any cycle. It is social, it is VR, it is console, it is computing, it is for fun, but it's also in competition, gaming, the definition of it has expanded massively. So this isn't just about consoles or a hot title. This is about amazing gaming computers, which are the highest end of the computing that we sell. This is about VR headsets and the future of what gaming looks like this is actually about social. This is about how we communicate amongst each other especially how my kids I watched it, that's how they talk to their friends. And so I think this is about more than just any one cycle. This is about continued, we believe in engagement in gaming across a multitude of platforms. 27:40 Now we continue to hear that the consumers the only part of this economy that's left that hasn't rolled over, but the consumer is so strong, the Fed has to take action. Do you see a consumer that comes to your store and buys good stuff? And by the way, joins up for a system where they come to your house? Because they're working at home? We need your system? Are you seeing that at all? Are you seeing continual buying? And are you seeing what I regard as being ubiquity of home electronics? 28:10 I think for us that is what we believe is our reason to exist on the planet, we believe the future, the way we live in almost every aspect will be lived using technology. Hybrid work is one model. But think even in your kitchen, everything that's connected, your entertainment, the gaming that we were just talking about your car is connected to your garage, your outdoor system, your pool might be run with an app. Everything in our lives is connected to technology. And that's why this isn't just about a want anymore. This is about a need and a way of living that fundamentally has changed faster than we ever thought in the last two years where people are using technology genuinely to live their lives. 28:52 Well Cory I want to thank you for coming on Mad Money and yes much more important. Thank you for inspiring America. You're on the list. Everything I heard makes me so excited about how business is the greatest force of social change. Cory bearish CEO of Best Buy thank you so much. Thank you 29:23 the last six months the high growth tech stocks have been getting what I like to call the Buscemi treatment. Yes, I mean, it had been tossed in the wood chipper like Steve Buscemi meant when he did it in Fargo. Look at a certain point, you gotta wonder, maybe they've got some value that the higher quality games have come down too far too fast. It's something that I am puzzled by, and I think about all the time. So you take a five nine that's cloud based contact center, software company. Okay, I'll get this. These guys posted probably one of the best quarters that I've seen this year. The stock got cut in half from its highs last summer through to where it was trading before the latest. But no none of that ever had much into a five nines business. The stock said we belong to a group that went out of style the Wall Street Fashion Show, the moment the Federal Reserve declared war on inflation. The market was what I call undiscerning when five nine reported last Thursday night, they delivered a clean top and bottom line be with very bullish guidance for the current quarter management, even raising the full year forecast. If you want to. I think it's worth pointing out that they're EBIT that they were EBIT up positive, yes, it was adjusted, but it was real. Plus, I'm like so many cloud software companies, they have the added advantage of being I would say, one of the most lucrative companies in the group and that's why the stock jumped 7% On Friday, even as important market got pummeled and attacked on another 5% Today, don't get me wrong, it's a difficult market fast cloud of Escalon cloud Sox have been crushed. But it's clear Wall Street got to negative five, nine. So could this be the beginning of a larger comeback? Let's take a closer look with Roland Trollope. He's the CEO of had not been on a number of times. Get a free reading. Of course, where's companies headed? Mr. Trump? Welcome back to Mad Money. 31:00 Hey, Jim, good to see you. Thanks for having me on again. Okay. So 31:02 Ron, I had to into that, that preface, I usually don't like to go that long, simply because I think people must feel well, there must be something dreadfully wrong at your company. It could be that it could have traded at 211. And then it traded at 110. But in reality, this was by far your best quarter and the EBIT, da positive, I could say is the true number. 31:23 Yeah, now definitely our focus as a company has always been on balanced growth and bottom line profitability, we have a very, very sharp focus on on efficiency of revenue and efficiency of growth. And so you know, look, the business is the same. We keep kicking butt and we had another great quarter. 31:42 Yeah, I mean, I want to talk about a win a 40, Walt's $44 million dollar win for what you do, and I'm gonna give it I'm gonna give you a non. These guys did not we're not the client, but I'm gonna tell you about something that happened this weekend. And you tell me what five nine would have done your part in conjunction with the company that you got your from? So I wanted to get my booster. So I called I went to the ligny with the drugstore. Okay. And went to went to the drugstore, knowing that I could get the shot. And I got there. And not only was it not, were they not able to give me a shot. They weren't even open. Okay, I will never go back to that place. You know why I'll never go back to that place. Because the mic chain that I did on my phone call they directed me there. They did not have any what I regard as artificial intelligence or intelligence. If I call a five nine shop, could that happen? 32:38 No, no, Jim, it would not happen. And we have, the healthcare segment has been particularly strong lately. So the $44 million arr. That's annual recurring revenue, when that we had last quarter was in the health care segment, global conglomerate. And they're laser focused on customer experience and making sure that for example, someone like you who comes in to go get a vaccine, that there's that that you have an incredible experience, because as we've all experienced, including myself, like that is not always the greatest experience. Sometimes it's maddening, right, you go in and you and you get to the shop, and it's not even open. That should never happen in this day and age. And when companies are finally realizing and this is one of the largest companies in the world, are finally realizing that the cloud is the way to go. And not only that, but our IV a technology intelligent virtual agent is one of the big drivers because they're starting to see that they can drive automation in a way that they never could before it and in a way that it also is really delightful for the end customer you in this case. So you don't have to speak to a human being. But you can still have a really good experience, whether that's on voice or also on text or SMS, which is how a lot of us want to communicate these days. Yes, 33:49 I mean, look, I don't know what artificial intelligence means. So you're gonna help me, I clearly wanted a booster shot and I wanted it now. There's just no doubt about it. I mean, that is not a difficult precept in an era of COVID What's your software be able to understand what I want? 34:06 Absolutely. So the technology has really come a long way from what most companies probably the experience you had that are currently using which is pre machine learning pre artificial intelligence, you know, directed dial or, or you know, IVR is pushed one if you want to get a vaccine pushed, okay, now we're talking about a computer that can understand your voice. So tell us, you know, Mr. Kramer, we see it's you calling tell us why you're calling. I would like to get a vaccine, the computer can understand that and say, Okay, I've got these four locations near you. It already knows where you are, where you can go get a vaccine, the earliest appointment is Monday at 9am. Would you like me to schedule that for you? That's what the experience should be like. And that's the kind of experience that we can create using our software. So it's much much better than what you're used to. 34:52 Well, what was interesting was in the conference call, you actually said, Look, we couldn't do this initially. And we were somewhat like other legacies. But this should develop. So tell me walk me through how you figured this out? Because that's the five nine advantage. 35:07 Yeah, absolutely. So we acquired a company two years ago called inference systems who were according to analysts, the best technology company in the segment. And that was kind of step one for us. And moving in this path, we have a huge base of existing customers. But we're also driving lots of new customers sales, and we're able to scale up to the largest companies in the world. So we're able to take this IAVA and intelligent virtual agent technology, and share it with all of our customers and say, Look, this is something that we can now do. And part of the secret sauce here is the architecture and the approach that we've taken. So we actually partner with the Amazons and Googles of Microsoft's of the world as opposed to competing with them. And so that's a world of difference because Amazon, Microsoft and Google are all investing significant amounts of money into human computer interactions using voice right speaking to your computer. And as a result, we kind of get to stand on the shoulders of giants there, and it gives our customers a much better answer than, you know, what we could potentially deliver and what most of our competitors are doing trying to deliver all this on your own really hard. 36:12 Now, do you think the conversation about your company is at last, devoid of any discussion of zoom? 36:20 Thanks for bringing it up. 36:22 To because I've talked about it forever, when it happened wrong, you gotta give me that I did talk about it, because I wanted it to happen. 36:29 Yeah, no, look, we are past that. And that the investors are not asking us about that, at this point we are getting for our investors love to see the growth. So we posted, like you said, an awesome quarter top and bottom line raised both top and bottom line for the full year. That's what they want to see. That's the five nine that they've always known and love, which is this very consistent, durable growth story. And we have a path to $2.4 billion, you know, by 2024, that is our goal. And to achieve that takes a 32% CAGR from where we are to getting there. And you can see that I've been saying consistently for the last few years that our enterprise subscription business is going to continue to grow in the mid 30s. So you just do the math, and you can see this business as just monotonically increasing and 37:16 that's why I like your stock. And I like what you're doing because you can do the math, you see a profitability path. It's already there when it comes to adjusted EBIT, da it's what I trust Rowan trout is the CEO of five nine F IV and it is worth looking at this conference call. It is so good. Robin, thank you so much for coming on the show. Hey, thanks, Jim. Man monies back into the break 37:42 coming up next, 37:43 let's make money together. What do we got? 37:45 Kramer is bringing the thunder and answering your burning questions in today's edition of the lightning round. 38:00 It is time to do this. We were I'm toast. And then the lightning round is over. Are you ready? Ski deck. Nitin in Illinois didn't. Tip. Well. Yeah. 38:14 Hey, I want to get your opinion on stock that's been getting destroyed lately so far, technology. 38:22 It's been getting destroyed. I don't know. I mean, it's you correctly summarize the situation. Let's go to Brad and Connecticut Brad. 38:31 Hey, Jim, how are you? 38:32 I'm good. How are you? 38:34 I'm good. Today is my anniversary. So I want to say a shout out to my wife who I love and I wanted to anniversary or call that you had with CO Donald McClement who is the CEO of indie i n di? 38:49 Well, yeah, I'm the only two semis in that space that you own are NHPI and on semi, those are the ones they had great numbers. They shot the lights out. Let's go to Heidi in Nevada, please, Heidi. 39:07 Hi, Jim. So my question is Edwards Lifesciences are down a lot since the earnings report, which was actually a good report, but also there's no dividends. Do I buy more old or 39:18 buy more? I thought that court was very good. I'm very surprised the stock did not go up. There really was no flies on that if you do want medical medical tech does j&j med tech is going to be very good. I bought j&j in 77. All day Riding Mountain Ron. Hi Jim. 39:33 Thanks for taking my call. Of course and then it goes stock you're selling below 17 a share. Apollo funds is purchasing back for $20 A share later this year. Is it smart to buy it next 39:48 on May I am not a rubber treasure? I cannot answer that question sir. I rather own Magna that gives me auto exposure without problem and that legem illusion 40:00 Our lightning round is sponsored by TD Ameritrade coming up Planes, Trains and Automobiles. Kramer takes a walk down commodity lane and puts inflation in perspective. Next. Tomorrow kickoff the trading day was squawk on the street. From post nine at the NYSC, the 40:30 monumental nature on a percentage basis of what's going on is freaking people out. But I like it. I like it because it's getting rid of all the weekends. And then someone comes in and buys all the chevron they want and oxy and they get that good yield. And next thing you know, you hear Apollo and I'm getting ready to return. And I say Stop panicking. 40:49 It all starts at 9am. Eastern 40:55 time. I'm hearing way, way too many people claim that inflation's become endemic. Now if the Federal Circuit believe that these people are defeatist, they look at inflation in the aggregate they make sweeping forecasts will be forgotten. By the time the Fed gets things under control. And believe me, the Federal get under control, no workflow. I might say it'd be easy, but I think they underestimate the kind of ingenuity it can help us stamp out or at least cool down inflation. Maybe we don't go much higher than 3% of the tenure things play outside describe. And I'm not just talking about a five nine, being able to make it so that you don't need one extra person, which is true. So why don't we do this? Let's start with steel, steel spin on the roaring that still make the world's lukewarm I've been kicking myself because we sold way too soon for the travel trust. But now it's almost back to the price where we rang the Register Form from just under one eight around what we feared this would happen when we honed it for the trust. We didn't want it to drop on us. As much as we loved nuclear we know what happens to the Steel's at this point the business cycle suddenly Cleveland cliffs just round trip from 25 to 34. And that is a gigantic declines people that single peak in the sky high price of steel, that's one of the biggest input costs has made so many companies, especially new autos miss their expense targets, but Alcoa oh boy, aluminum is really costly oil companies. Of course, keep it now that stocks roundtrip from the mid 60s to 98 back this one's a little trickier who's edge Minister mammal report but we've now seen reports of border slowing why because people are putting in fewer wars if we're gonna have recession make sense? And we have warehouses on Friday. largest lender in the country. I thought this lumber company told a great story. But today the stock could have vicious downward bad hold because the upside is limited. What would it be limited by how about the looming slowdown in housing and exports to Japan the latter being real stagnant market in the former be hurt by insurance. But I've heard a lot of people say to go buy a Freeport McMoRan now play a copper boom they're the best we have. I said what copper boom. I think it happened already. hellos to explain the stocks collapse from 52 and march to 40. Now, I bet the climb won't stop anytime soon because China biggest market for copper has locked down vast swathes of its economy, which kind of limits their demand for metals. Lots of money managers with a grain complex simply can't be stopped just hear it over fed can't stop Wait, that we listen to me for a second. wheat, soybeans, corn, they trade as instruments. But as quality Garner our resident commodities exporters plain to me, we just been bitten by hedging speculators no doubt because we're worried about Ukraine, not about organic demand corns up for similar reasons. Some innate demand there soy could be up for could be due for a good slide why we need some good weather. In other words, the whole grain complex could roll over with or without Jay Powell. What else right last week, Amazon reported tumbled number I hate to say that but it's true. And he said they had too many workers since they bid up the talent pool to begin with. It's almost like you have already trained New Economy workforce is about to be unleashed in the rest of corporate America. I have to wonder what happens when they start laying off truck drivers. Take a look at FedEx and UPS both hitting 52. Week lows today looks like we are not going to have much of a trucker shortage soon think consider used cars Oh, they're starting to fall in value now used cars. They're very big in these indices. Okay, in the CPI. Now let's have a call Carvana. We've had a bunch of times they pay 10% interest on a huge bond offering last week that's not a sign of health Carmex disappointed used car prices, they have Pete put all together, you got a ton of important cost to tune start coming down, which leaves just a few highly visible inflation drivers oil natural gas house. Now I don't have all of that much hope for oil, which is why chapel trust is loaded with them. Until the war in Ukraine. Its suppliers too hard to come by. If it weren't for the daily million barrel depletion from the Strategic Petroleum Reserve, who knows where How high will be much higher. Natural gas has been pushed up by the court April but also because speculators pit up the fuel. In expectation President Biden will start promoting liquefied natural gas exports to Europe by name he says sorry, I don't know if he can do that because he's so into the fossil fuel. I just think he's just torn housing though. I think the last big gasp of how homebuilders came over the last couple of months when buyers locked in low mortgage rates in March and April knowing that we're gonna buy a home so they got that rate plus an alpha in my courtroom. Asus average price by 25 grand. I mean, this is your this is a company that caters to younger buyers as prices and mortgage rates surge higher. Eventually demand dries up and we go from a housing shortage to housing glut, which is where I think we will be sometime this summer, especially if the 30 year goes from 5.5 where it is now just 6% and ensure a 6% return all over. All these things are peaking simply because the Fed said it has to happen. Even a few communicate commentators or communicators seem to notice I notice. Yeah, I hope you have to. I like to say there's always a bull market upon a show panic just for you right here on that money. I'm Jim Cramer.