If you take a long-term view of the stock market, maybe you haven't missed as much as you think, Jim Cramer told his Mad Money viewers Monday, quoting Warren Buffett's words from the Berkshire Hathaway (BRK.B) annual report, released over the weekend.
Cramer said Buffett had a number of interesting things to say in his annual report and subsequent interview with CNBC.
First, Buffett disclosed that he's amassed 133 million shares of Apple (AAPL) , an Action Alerts PLUS holding and long-time Cramer favorite. Buffett, like Cramer, believes Apple's best days are ahead of it, bucking the analysts who fear otherwise.
Buffett also sounded off against the high fees charged by money managers, another view shared by Cramer. Low-cost index funds are a better alternative, Buffett argued, in an industry where the best sales guys -- not the best investor -- wins.
Are stocks overvalued? According to Buffett, stocks as an asset class remain cheap when compared to bonds, their chief rival, which need higher interest rates to become competitive.
Cramer's final nugget from the report dealt with Buffett's views on stock buybacks, calling out CEOs for not setting limits on the purchase price. "What is smart at one price is stupid at another," Buffett wrote, sentiment shared by Cramer.
After another successful year, Cramer wished Buffett, the 85-year-old who is showing no signs of slowing down, all the best in 2017 and beyond.
Meanwhile, on Real Money, Cramer takes another look at stock groups that are sitting at or near all-time highs: airlines, banks. Check out his strategies with a free trial subscription to Real Money.
Executive Decision: Marriott Vacations Worldwide
For his "Executive Decision" segment, Cramer sat down with Steve Weisz, president and CEO of Marriott Vacations Worldwide (VAC) , which just delivered a nine-cents-a-share earnings beat with strong 2017 guidance.
Weisz explained that his company laid out it's plan for growth in 2015 and it's nice "when plans work out." He said Marriott has been rolling out new sales centers, new resort locations and new marketing efforts to bring people to those sales centers and the results have been increased tour traffic.
Timeshares are not an impulse purchase, Weisz said, and people need to take a tour and have the investment explained to them, and that's why the increased traffic and improved closing rate have made such a difference. Weisz noted that new sales centers in Miami, Washington, DC and New York are all performing well and his company's seen a 50% jump in sales in Asia.
When asked about his company's cash flow and the best use of its cash, Weisz said that in just five years his company has generated almost $1 billion in cash flow and has returned $700 million of it to shareholders.
Cramer said investors need to look into this company as it has a lot going for it.
Trump's Economic Revolution: Maybe We Can Wait
When the facts change, investors must change too, Cramer reminded viewers. Just so, he changed his stance on what Donald Trump's plans for tax reform and repatriation of funds means for the stock market.
Cramer said it's widely believed that the market needs to have these two key aspects of Trump's economic plan in place to thrive. But do they really?
Cramer noted that apparel maker PVH (PVH) is making its numbers without these tailwinds, as the company is seeing strong sales in Europe and Asia that are offsetting the retail reset occurring in the U.S.
The same holds true for Honeywell (HON) , where international sales are no longer dragging down profits, and United Technologies (UTX) , Apple and even Facebook (FB) , another Action Alerts PLUS position.
Cramer said he no longer feels the markets must have Trump's economic plan immediately; he'll take plain old revenue growth any day of the week, even if it comes from overseas.
Executive Decision: Martin Marietta
In his second "Executive Decision" segment, Cramer spoke with Ward Nye, chairman, president and CEO of Martin Marietta Materials (MLM) , a stock that's been on fire since the election as investors pin their hopes on a major infrastructure bill from Washington.
Nye said that his company's shares fell hard during the recession as housing collapsed and our country lacked a federal highway bill. But today, he said, we have a highway bill and both housing and non-residential construction are on the mend, which have led to growth for Martin Marietta.
Among the bright spots for his company are North Carolina, Texas, Colorado and Ohio. Nye noted that the Southeast, in particular, declined sharply during the recession and is now recovering quickly.
When asked about that promised infrastructure bill from President Trump, Nye said that he doesn't expect anything until 2018, and he noted that there is nothing in his company's forecasts yet. Nye did confirm that if there were a border wall, Martin Marietta is the market leader in Texas, but so far, no one has contacted them.
Another bright spot for Martin Marietta: the 17 liquified natural gas projects currently underway in the gulf region. Nye said those projects represent $47 billion of investment and are enormous users of aggregates and concrete.
In the Lightning Round, Cramer was bullish on PayPal (PYPL) , CH Robinson Worldwide (CHRW) , Texas Instruments (TXN) , NXP Semiconductors (NXPI) , Celgene (CELG) and Regeneron Pharmaceuticals (REGN) .
Executive Decision: Workday
For his final "Executive Decision" segment, Cramer spoke with Aneel Bhusri, co-founder and CEO of Workday (WDAY) , the cloud software provider that had a rough December quarter but has since seen its shares rally to near 52-week highs.
Bhusri said that after a slow October and November, business bounced back in December and January and led to record quarter for the company. He said Workday continues to see strong sales in Fortune 500 companies.
When asked about that growth, Bhusri noted that Workday offers a great suite of product and when companies do their homework, they choose Workday for the company's high customer satisfaction rating. He also said that Oracle's (ORCL) acquisition of NetSuite has created some turmoil that Workday has been able to capitalize on.
Workday also landed Amazon.com (AMZN) as a customer and Bhusri said that over the next 12 months they will be working closely with Amazon to get that company's workforce onto the Workday platform.
Shares of Workday are up 36% so far in 2017.
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