Cramer's Morning Take: Solar & Big Banks 9/11/24

Jim Cramer (0:02)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting.

Jeff Marks (0:09)

I do want to turn back to the debate. Well, if there was any winner last night from it, it seems to be the solar stocks. Maybe perhaps you had Trump say that he liked solar, it was in the middle of a rant. But then also we know Vice President Harris is in favor of renewable energy. So, next tracker, finally. because it's been brutal.

Jim Cramer (0:28)

Yeah, oh no, it's been horrible. I've talked to Shug and trying to figure out what's going on and how could just have such a missed quarter when all that really happened was they pushed out things. And I came away thinking, okay, if Trump wins, this is a loser. And if Kamala wins, it's a winner. And I don't want it to be that. They actually make money. They have a real business. It is not like any of the other solar stocks, but it's being treated as just another fly by night solar. And you know that's not true.

Jeff Marks (0:56)

No, well certainly if with rate cuts coming, interest rates are big, increases the...

They're all purchased on financing these big solar, utility scale solar projects. So lower rates will help. And also some election certainty, you might get a normalization here.

Jim Cramer (1:15)

But remember, what this does, I think people have gotten away from this, what this does is make solar fields more efficient. That is just the classic case of what you want. It's like a pick and shovel, a gold rush.

Jeff Marks (1:29)

Maximizing yield.

Jim Cramer (1:30)

Yeah, we did not buy it because we thought that solar was necessarily the hope of the future. We bought it because we think that solar is going to be 25% of the pastiche that is our country in 2030, that's what everybody agrees. But there are two ways to do it. You have to build a lot of fields and you have to get more out of the fields. This isn't about getting more out of the fields. That's what it is.

Jeff Marks (1:49)

Certainly we know electricity demands are going to be increasing from all those data centers, especially when we had Oracle the other day talk about a thousand to two thousand more data centers. Let's go back to the bank. They got crushed yesterday after JPMorgan's COO basically said 2025 estimates are a little bit too optimistic.

Jim Cramer (2:09)

I come back and say, okay, look, I did have some sport with him this morning but on Squawk on the Street. But it's not possible to predict 2025 The really good bank CEOs know you can't do that because you can't do it right. So just to lower estimates was almost as if one of the most ill-advised strategies I've seen any executive have.

Jeff Marks (2:32)

Well, it's bringing all of them down in uniform. You did have Morgan Stanley downgraded at Goldman today, basically saying there's other ways to play or better ways to play the capital markets recovery, which would be their own bank that they would probably argue.

Jim Cramer (2:44)

But you have a yield here.

Jeff Marks (2:46)

Yeah. It is a good debate, Morgan Stanley versus Goldman Sachs. They all are coming in, obviously, Goldman has been a performer.

Jim Cramer (2:51)

Look, the criticism of Morgan Stanley is Ted Pick. What have they really done with E-Trade? And I would tell you what they've done with E-Trade. Absolutely nothing. Join the CNBC Investing Club with Jim Cramer to catch my member exclusive morning meetings every day at 10, 20 a.m. and visit cnbc.com/morningtake to become a member today. That's one word, morning take.

SPEAKER_3 (3:18)

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