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Mad Money w/ Jim Cramer

CEO of NiSource, CEO of Wingstop, Conservationist Jane Goodall & A New CEO On The Wall of Shame

Mad Money w/ Jim Cramer

CNBC

News, Investing, Business

4.43.9K Ratings

🗓️ 3 November 2021

⏱️ 45 minutes

🧾️ Download transcript

Summary

All three major averages close at record highs and Cramer’s breaking down what you need to know, Then, CEO of NiSource, Joe Hamrock, shares how his company will be a part of a clean energy future. Then, CEO of Wingstop, Charlie Morrison, dips into the details on the company’s 3rd quarter after a 10% pull back on Wednesday. And, legendary conservationist Jane Goodall, reminds us how important it is to plant trees and how her foundation is doing it. Plus, after his company fell significantly today, Cramer’s adding a new CEO on the wall of shame.

Transcript

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0:00.0

My mission is simple to make you money. I'm here to level the playing field for all investors.

0:08.0

There's always a more market somewhere and I promised to help you find it.

0:12.0

Man money starts now.

0:16.0

Hey, I'm Kramer. Welcome to Man Money. Welcome to Kramer, America.

0:20.0

People in my friends just trying to make a little money. My job is to entertain, but

0:24.0

I can't teach to call me 107 for 3CBC or quit me at Kramer. On the day when we shrugged off the Fed's

0:31.0

taper announcement, Dow actually gaining 105 points, S&P advancing points 65% in the Nasdaq jumping 1.04%.

0:38.0

Wow, you need to understand that this is a market where the tail can indeed wag the dog.

0:46.0

Where what's happened to a stock can be more important than what's happening at the underlying company itself.

0:53.0

Now we've always had some stocks that traded more on individual excitement than institutional fielding.

1:00.0

I created the acronym Fang in order to capture that. Fang because Facebook Amazon, Apple, Netflix and Google were

1:08.0

beloved by home gamers first, not by institutions. The home gamers kept buying it and making fortunes,

1:14.0

even as the big money people in Wall Street remains skeptical. At one point all these stocks were

1:20.0

being too giddy. Giddy being a code word that means something rallying because of dumb money.

1:26.0

Wall Street speak for you. Yeah, regular investors. You, I rebel at these kind of semi-judgements.

1:32.0

Big reason, by the way, while we created the investment club here. And I often share your enthusiasm for stocks most pros

1:39.0

denigrate. But these wise men are very often betting against your instincts. In particular, you had a whole

1:45.0

cottage industry of experts who crow about how Amazon and Netflix would never ever turn a profit, no matter how much

1:51.0

you like their services and products, no matter how much you pay. Many of these so-called professional money managers

1:58.0

were too skeptical, too pessimistic, thin their nature. They thought these companies were run by dreamers with their

2:03.0

heads in the clouds. When reality, the CEO of Amazon and Netflix were ruthless businessmen who also had to be visioners.

2:10.0

Today, both companies are incredibly profitable. But these companies have never been, they've never been held to account.

...

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