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With violent moves and bloodshed everywhere, Jim Cramer thinks this market is like watching the movie "Scarface." So, for the moment he would rather talk about the wild swings of the market and what caused them instead of Greek bonds, and what's not behind them.
"I say we have to understand the violence, if not embrace it, to see if we can profit from both the damage and the extreme moves to the upside that might not yet be finished," said the "Mad Money" host.
There were just too many market casualties to count today. But the bloodiest of them all was Chipotle, when it dropped 7 percent in one day. Most investors wanted out of the stock before same-store sales plummeted any further and consider the stock too difficult to own.
Cramer thinks that judgment was wrong and that the quarter got a bad rap because of the decision not to take pork from a supplier who treated the pigs inhumanely. This shortsighted view of Chipotle's guidance does not take the company into long-term consideration.
"Stocks that are down this big in one day tend to go down big again the next. You buy on day three. That's been the right move every time for Chipotle. I think it will be so again," said the "Mad Money" host.
One stock that was not annihilated on Wednesday was Disney. Cramer considers it to be the greatest American growth story of all time.
And until Bob Iger took over as the CEO 10 years ago, Disney was a much different story. It would have a good movie once in a while, followed by a weak movie, strong theme park attendance and not so strong numbers.
Iger has now transformed the company from being a $15 stock, into a $101 stock in a matter of just six years. He also added tens of billions in market capitalization on top of that.
How did this CEO manage to transform Disney so quickly?
One word—consistency. In fact, Cramer thinks the consistency is so strong that it acts more like a packaged goods company than anything else. Ultimately, the consistency reduced risk for the company.
"Remember, between now and next year when China's them park opens, this will be the stock that everyone wants to own," said Cramer.
What the heck happened to Take-Two Interactive Software? The maker of popular video games such as "Grand Theft Auto" has been a long-time favorite for Cramer, yet somehow after reporting a fabulous quarter the stock fell off a cliff on Wednesday.
On Tuesday night, Take-Two reported a 25 cent earnings beat from a $1.52 basis, crushed revenue estimates and upped guidance for the year. Unfortunately, investors still took the stock to the woodshed, claiming there was not much visibility into its game release schedule.
But it seemed that the lack of "Grand Theft Auto" in the release schedule is all that Wall Street cared about. Could the stock market's flounder be an opportunity for investors? To find out, Cramer sat down with Take-Two Interactive Software's CEO Strauss Zelnick.
"When the question is raised that we keep increasing the comps because the results are so good, it's really hard to argue with that. That's a problem I'd like to have," said Zelnick
One thing that consumers are buying a lot of this year are the big-ticket items. This attributes to the success of Brunswick Corporation, the world's No. 1 maker of recreational boats. That includes fishing boats, like Jim Cramer's 17-foot Boston Whaler, and boat engines, fitness machines and even pool tables. Basically—toys for the wealthy.
Brunswick reported last week and delivered a 6 cent earnings beat from a 27 cent basis and increased its guidance for the year.
Can the stock sail higher? Cramer sat down with Brunswick CEO Dusty McCoy to find out. The CEO explained that while the number of new boat units have dropped there are certain models that are sold out and have increased in sales, indicating a change of consumer interests.
"Before the recession we were selling around new 310,000 units. The recession hit us and we sold 135,000 units. Now we are back to new 170,000 units...What's changing are that people are looking at boating differently and they want a boat that fits new and different lifestyles," McCoy said.
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
Ambarella: "You've got a gun to your head, my friend. We're in a crazy market here, you don't want to put a gun to your head! Don't buy."
Stratasys Ltd: "No, we are staying away from that one. We don't like the 3-D space, other than when HP spins off. That stock is not done going down in my opinion."