Mad Money w/ Jim Cramer 8/4/26

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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 moment in summer, and I promise to help you find it. Mad Money starts now.

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

**Jim Cramer** (1:19)
Welcome to Mad Money. Welcome to Cramerica.
Hi, Blue Man friends. I'm just trying to make a little bit of money here. My job is not just to entertain, but to explain how days like today can happen. So call me 1-800-743-CMUZ to meet me at Jim Cramer. Okay, legitimate question. Where did all the sellers go? I think they've left the building, at least metaphorically. And that's how you get this kind of incredible day where the Dow gains 907 points at close to record high, SME rally 1.79%. Best day since April, setting records on both the intro day and closing basis. And the NASDAQ jumped 2.59%.
Still not quite at those early June records, but who knows when those will be taken out.
I go back to the same question. Where did the sellers disappear to? Allowing many stocks, but especially the data center and software stocks, to gallop higher without much resistance at all. No supply. Well, do you know that ever since we found out that Leopold Aschenbrenner's Hedge Fund Situation Awareness blew up last week, we've seen tech stocks flying all over the place. Unleashed, unbound, roaring higher, catapulted by the lack of sellers of any size. They seem to be all gone, leaving little stock for sale in their wake, causing the buyers to take stocks up with their own buying, one after another. Listen, I used to be a hedge fund manager. I've been caught with my pants down more than once. I've seen stocks move in the wake of my failures. Millions of dollars of stock just sold out from underneath me because of margin calls. You can see my sad footprints everywhere.
But I want to tell you that this Leopold guy, I mean, captain of the over-led situation, awareness fund, he did this stuff maybe a million times bigger than I ever did. Even as his fund went to kingdom common.

**Jim Cramer** (3:00)
Don't worry, he'll be back.

**Jim Cramer** (3:01)
They always come back. We're still living in his wake. It's his wake that's behind this magnificent rally, even as it seems inconceivable if you have never traded that it could possibly have had that kind of lasting impact.

**Jim Cramer** (3:11)
It does.

**Jim Cramer** (3:12)
This stock market is about supply and demand, people. It can handle pretty much any amount of stock that trades by side, sell side. But now we've learned that when this hedge fund, this hedge fund collapsed, this colossus, the positions that were for sale from Ashton Brenner and his inventors were too big for these stocks to handle without being massacred.

**SPEAKER_6** (3:31)
The house of pain.

**Jim Cramer** (3:33)
They plummeted because of this man's leverage. They were smashed because he was forced to sell into a vortex of miasma of other sell orders. Much more than this stock market can handle at any one level. How come?

**Jim Cramer** (3:43)
Who let this happen?

**Jim Cramer** (3:46)
Situational awareness was allowed to borrow $4 for every $1 he had under management. That alone is insane. Who the heck would give this guy, a 25-year-old rookie, that kind of power?

**SPEAKER_7** (3:58)
How did he get that firepower?

**Jim Cramer** (4:00)
Of course the brokers would, that's why. Because they make the biggest money lending on margin. No, not trading, but lending. So they gave him $4 for every dollar he had under management, helping to take his fund to $45 billion at its peak. Lot of borrowed money there. To look at his position list is to look at the topology of this entire tech market. We know to the absolute love, love, love, love, love, love the data centers. He adored the companies that built the data centers. This wild man bought hundreds of millions of dollars worth of nebius, bloom energy, cornweave, iron, just crazy size positions. He cherished the semis, buying them like a madman.