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The people putting money into this market are betting on a brighter future, Jim Cramer told his Mad Money viewers Thursday in a special episode ahead of Veterans Day. But after today, Cramer said, this rally could be getting out of hand.
Indeed, money managers appear to be throwing out the notion that gridlock in Washington is a good thing, and marking Donald Trump's meetings with President Obama and House Speaker Paul Ryan with hope and optimism that our country can spur growth and prosperity for all.
But even as stocks of companies that make things -- along with restaurants and retailers -- were soaring, Cramer offered some cautionary words to his studio audience, which included West Point cadets, military personnel, veterans and their families. He said there is no way the velocity of these recent moves can be sustained for more than a few days, which means investors need to be careful.
On the day before Veterans' Day, Cramer said, he is both honoring our troops and praising those who can bury the hatchet, as we all try to make America a better place.
Executive Decision: Starbucks
Cramer sat down with Howard Schultz, chairman and CEO of Starbucks (SBUX) , a company working hard to hire and support veterans.
Schultz started off by saying that the integrity, work ethic and leadership skills of our veterans are beyond reproach and we should be acknowledging them every day and not just on Veterans' Day. He said among the things veterans need most are transitional tools to help them re-enter the workforce.
Schultz has been a long-time proponent of the notion, as he said, that "business is not evil" and that CEOs have an opportunity to benefit society. Hiring veterans, he said, is one of those ways, which is why Starbucks has thousands of job openings for veterans and military families, in stores, supply chain and management. Starbucks plans to hire at least 10,000 veterans and military spouses by the end of 2018.
As for the election, Schultz said he's optimistic, but still sees a lot of work that needs to be done. He said our nation desperately needs less divisiveness and more sincerity and compassion. No matter where he travels in the world, Schultz said, everyone wants to be respected and wants a better life for their children.
Action Alerts PLUS, a portfolio that Cramer and Jack Mohr co-manage as a charitable trust, recently downgraded Starbucks to a "Two" rating from a previous "One." Click here for a free 14-day trial membership to Action Alerts PLUS investment club to see why.
Executive Decision: Johnson & Johnson
In another "Executive Decision" segment, Cramer sat down with Alex Gorsky, chairman and CEO of Johnson & Johnson (JNJ) and a retired army captain, to talk business, politics and the many advantages of hiring veterans.
Gorsky said of the 45,000 Johnson & Johnson employees currently in the U.S., more than 5% of them are veterans. He said, "We couldn't do what we do without the great work of veterans" that provide leadership and problem-solving skills the company needs. Johnson & Johnson makes hiring veterans a priority and trains recruiters on how to translate military skills into workforce assets.
Gorsky also noted his involvement in the Travis Manion Foundation, which aims to help veterans and the families of fallen veterans. He said the foundation proves that our country is always stronger together.
When asked about this year's political season, which has vilified the pharmaceutical industry, Gorsky said that health care is important and it's an important part of our economy, so it deserves to be part of the debate. But, he said, it's also important to remember all of the good that pharma brings and the many diseases it cures and not just focus on the problems that still need to be solved.
The wrong call
"No one ever made a dime panicking," Cramer reminded his viewers, after recalling how many "sell everything" calls he heard on election night. Somehow, things got off track this election season, with the rhetoric far exceeding the facts of the situation.
Every four years, we have one candidate with one set of policies and another candidate with a differing set of priorities. This year was no different.
But to sell everything was, as it often is, a total mistake. Fear only masks the facts and kept many investors out of what has proven to be a great buying opportunity.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer said it's time to focus on ignored opportunities, those stocks that have been totally eclipsed by the election. He said Expedia (EXPE) is one of those stocks.
When Expedia last reported, it saw only inline revenues with a six-cents-a-share earnings miss, yet shares still rallied 4%. Why? Cramer said it's because there's a lot to like if you look under the hood.
Cramer said Expedia's purchase of HomeAway, a company that was seeing growth decelerating, is now beginning to bear fruit. The change in HomeAway's revenue model appears to be working, and that part of the business saw revenues up 33% for the quarter. Cramer was also bullish on Expedia's other acquisition, Trivago, which Wall Street has also largely ignored.
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