Mad Money w/ Jim Cramer 8/11/26

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**Jim Cramer** (1:02)
My mission is simple, to make you money.
I'm here to level the playing field for all investors. There's always a bull market somewhere, and I promise to help you find it.

**Jim Cramer** (1:18)
Hey, I'm Cramer.

**Jim Cramer** (1:19)
Welcome to Mad Money. Welcome to Cramer. How do people make friends? I'm just trying to make a little bit of money here. My job is not just to entertain, but to educate you. So call me at 1-800-743-CMBC, tweet me at Jim Cramer.
When I'm fishing for tarpon, those giant beasts off the coast of Trinidad, seven miles from Venezuela, I try to keep up with the market, if only because I got a CMBC investing club meeting noon Thursday. So I check in with those who have the signal and ask a minimal amount of questions to get a picture of what's going on. I'm on vacation. I could ask for the averages, right? Like today, where the Dow shed 184 points, S&P dipped .32% NASDAQ down .6%.
But that's not what I did yesterday, not when I'm on the road. I need more context. I'm going to show you how to get it. You need to know it. As someone who was on the road for four years at Goldman Sachs, I learned early on that the average don't always tell a story. So when I called in, I had a routine to find out the most I could in the least amount of time. At the same time, don't forget, this time I'm on vacation, so I got to keep it quick. That's why any given time, I always have three questions in my head that can give me the context that I need to figure out if I need to take action. Maybe you should have a couple of questions. First question, where are the bonds? You must never forget that as important as stocks are, the bond market is much larger and it rules the roost. If it's going lower, you likely have a robust stock market. If rates are going higher, probably a bad one. These days, we have a new Fed chair, got Kevin Marsh and he's a smart guy. He doesn't want to make mistakes, so he's trying to figure things out. I think he's taking a very professional approach, and I mean that as a compliment. This is a divisive time for America. It's good to have a professional run in our central bank. However, I think worse can be right now, opaque. I hope he doesn't go the way of his predecessor, who apparently shared opinions with one reporter working for one paper. That made no sense to me. Nor did it make sense to have a press conference where the same people ask variations of the same questions each time. I think they often try to make the Fed chief look bad, show disrespect to the institution. Also mystifies me why all these Fed governors and presidents are constantly yapping, offering themselves up to the media. I mean, like they're the Fed chief themselves. What the heck is that all about? I've said for years that when you're on the Federal Open Market Committee, you should keep your darn mouth shut about monetary policy. Let the institution do the communicating. Otherwise, you end up misleading people. Warsh is different though. I think he gets that. I think he's taking his cue from the bond market, just like I did when I was fishing for tarpon. Long rates went up when I was away. I was taught that if rates were going up, they'll tell the Fed chief what to do. I think Warsh is from that same school. He knows that if long rates keep rising, he's going to have to tighten. And if he starts to tighten, then you, me, us, will have to get more cautious. I'll do that for my travel trust. You can follow that along by joining our investing club. If you buy stocks at that point, you'll be fighting the Fed, and you don't want to fight the Fed, because that is a losing battle.