We're in the longest bull market in history, Jim Cramer reminded his Mad Money viewers Tuesday. The bulls have been dominating Wall Street for 3,453 days to be exact. How did this happen? Cramer said it's because the bull has been the underdog the whole time.
Cramer detailed a long list of worries that the bull market has overcome in the past 10 years. Among the obstacles has been a constant sense of skepticism at every turn. The negativity has been perpetuated mainly by hedge fund managers, Cramer said -- managers who have been perpetually wrong.
The next obstacle? Valuation. The bears constantly cite that valuations are simply too high. But Cramer noted that while some sectors do get too high sometimes, they often self-correct.
Third on the list of obstacles -- political turmoil. From the Tea Party to Hillary Clinton to President Trump, there's always been something in the news to scare investors. This coincides with the market's other top worries, mainly the fight over the debt ceiling, rising interest rates and the inverted yield curve. These were all things that were supposed to derail the bull market. Instead, we've been living with them for years.
Next, Cramer cited overseas worries, from Europe to China. Whether it was Greece, Portugal, Italy or now Turkey, there's always something the bears are fretting about. As for China, we worry when the country is too strong and we worry when it's too weak.
Finally, Cramer said, the markets have been worried over the many "mini bear markets" like oil and housing, and they've been worried about FAANG, Cramer's acronym for the fastest-growing tech names.
But through this decade of worries, the bull has persevered to new heights. The bears, while constantly proven wrong, continue to cast doubts, as they surely will again tomorrow.
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Executive Decision: PetIQ
For his "Executive Decision" segment, Cramer sat down with Cord Christensen, chairman and CEO of Pet IQ (PETQ) , the pet healthcare provider with a stock that's up over 68% for 2018.
In a world where more pets are brought home each year than babies, Christensen said pet care is more important than ever. Pet IQ is taking a novel approach, expanding its products and services into places that haven't been traditionally served. He said retailers like Walmart (WMT) and Tractor Supply (TSCO) are opening tremendous opportunities to reach pets that have been unserved or underserved thus far.
Pet IQ is doing more than just offering pet health and medicines, they're opening vet clinics inside select Walmart and Tractor Supply locations and are seeing great success. Cramer said Pet IQ is another strong player in a terrific market.
The Cisco Systems Transformation
Sometimes, a high quality stock needs a little time to catch its breath before resuming the climb higher, Cramer told viewers. That's been the case with Cramer favorite, Cisco Systems (CSCO) , which has been slowly transforming itself into a software and services powerhouse.
Cramer said he's always been a big fan of Cisco CEO Chuck Robbins, and he was surprised when the markets panned the company's results when it reported in May. It was clear even back then, Cramer said, that Cisco's long line of smart acquisitions was going to pay off big for shareholders.
When Cisco last reported, those promises became reality, with a top- and bottom-line earnings beat, accelerating revenue growth up 5.9% and fantastic guidance. Nearly 56% of the company's sales now stem from software and services, many subscription based, up from just 43% a year ago.
It seems you can teach an old dog new tricks, Cramer said, yet shares trade for just 14 times earnings. With a $25 billion stock repurchase program still in effect, the stock of Cisco is a buy.
Off the Charts
In the "Off The Charts" segment, Cramer checked in with colleague Tim Collins to see where the chart of Starbucks (SBUX) might be headed next as we approach the crucial Pumpkin Spice latte season.
Shares of Starbucks plunged back in June, as the company cut its earnings forecasts, but Collins noted that shares have since left those June lows in the dust, rallying 14%. Now trading above their 50-day moving average, and above their recent channel, Collins felt the move higher could be accelerating, thanks to a bullish crossover in the daily chart.
Cramer agreed with Collin's analysis, saying that with coffee prices at 2-year lows, Starbucks can certainly get its groove back.
In his "No-Huddle Offense" segment, Cramer opined on the recent rallies in the drugs, REITs and utilities -- three sectors that historically have signaled a recession is looming.
Cramer said he has a different take on these recent moves. He believes these sectors have lost their predictive powers and no longer have a strong correlation to overall economy.
With low interest rates, booming employment and strong economic growth, it's crazy to think that a recession is looming, he said. Instead, the utilities are benefiting from the economy, while the REITs are seeing investors flocking towards yield. As for those drug stocks, Cramer said that's just plain old opportunity to make money.
Over on Real Money, Cramer says don't interpret these economic and market moves as a sign of a real slowdown. Get more of his insights with a free trial subscription to Real Money.
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