CNBC Investing Club: Cramer’s Morning Take on Blue Owl Capital 3/2/26

SPEAKER_1 (0:00)

Tires matter. They're the only part of your vehicle that touches the road. Tread confidently with new tires from Tire Rack. Whether you're looking for expert recommendations or know exactly what you want, Tire Rack makes it easy. Fast, free shipping, free road hazard protection, and convenient installation options. Go to tirerack.com to see tire test results, tire ratings, and consumer reviews, and be sure to check out all the special offers. tirerack.com, the way tire buying should be.

SPEAKER_2 (0:30)

Oh, could this vintage store be any cuter?

SPEAKER_3 (0:33)

Right, and the best part, they accept Discover.

SPEAKER_2 (0:36)

Accept Discover? In a little place like this? I don't think so, Jennifer.

SPEAKER_1 (0:40)

Oh, yeah, huh.

SPEAKER_3 (0:41)

Discover is accepted where I like to shop. Come on, baby, get with the times.

SPEAKER_2 (0:46)

Right, so we shouldn't get the parachute pants?

SPEAKER_3 (0:49)

These are making a comeback.

SPEAKER_1 (0:52)

I think.

SPEAKER_3 (0:53)

Discover is accepted at 99% of places that take credit cards nationwide, based on the February 2025 Nielsen Report.

Jim Cramer (1:02)

Jim Cramer here to share a short preview of my take on the market from today's Members Only CNBC Investing Club Morning Meeting. Join the club for full access to the morning meeting every day at 10:20 a.m. Visit cnbc.com/morningtake to sign up today. That's one word, morning take. If you looked at this market, Jeff, at 3:30 a.m. like I did, it was looking down 2% and then it rallied to be down one. We tested it down to, we were very ugly at the open and then we bounced and a lot of this I think is that off the news that oil reached a peak and came down. I don't want to be too analytical in stocks versus the war, but this is very encouraging, particularly when it comes to tech.

Jeff Marks (1:48)

Yeah, and we've seen that linkage before, an inverse linkage where when oil spikes, sign of geopolitical tension, uncertainty of what could happen, inflation as a major risk, you see equities fall, so a little bit of that relationship still maintaining. And also keep in mind, Friday was a really nasty day in anticipation of the strikes that occurred over the weekend. So I think there is some concern that maybe this could last, it could linger for four weeks they are calling it. But there is also a chance that maybe not. So we will see.

Jim Cramer (2:24)

I think if I were the president, I would say four or five, because what are you really trying to do? You are trying to get the government to say, listen, we don't want to be in this war anymore. And if you said it is going to go on for the next three days, I think the government would say, we will wait out three days and then we will attack.

Jeff Marks (2:39)

Sure, it is not like he gave a lot of details of an imminent strike at the State of the Union last week. He likes to keep some cards close to the chest. Right.

Jim Cramer (2:47)

I mean, obviously, I think there is a lot of people who believe that we are over the hump of the worst part because frankly, well, I mean, the leadership was wiped out.

Jeff Marks (2:57)

Well, even so, you laid out that this is just one complexity added to a whole number of things the market is dealing with in your Sunday piece.

Jim Cramer (3:06)

Which they will come back to. I don't think anyone feels that the private credit issues have been resolved over the weekend.

I do feel, by the way, that there was maybe too much negativity because when you go over the portfolios of these companies, these enterprise, software companies are still, they're not defaulting. I think that the reputational risk had a blue out turned out to be more than we thought. That they seem unseasoned, that the principals went on margin and bought a hockey team. These are the things, when I was running a fund, a lot of investors would come in and they would look at my place and my place had drawings of my kids, okay? They would say, oh, he's good. They don't want to see trappings. Trappies of wealth are bad and the trappies of wealth that you're seeing from Al say, you know what, maybe these guys are unseasoned and that's a big reason the money's coming out. But if you take a look, Blackstone's getting killed, KKR's getting still, Apollo, so it's not just a blue out.

SPEAKER_2 (4:04)

All opinions expressed by Jim Cramer on this podcast and in connection with the CNBC Investing Club are solely Cramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates and may have been previously disseminated by Cramer on television, radio, internet or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Cramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce any particular trading behavior, investment or strategy. To view the full CNBC Investing Club disclaimer, please visit cnbc.com/investingclubdisclaimer.