Pinterest Exec. Chairman & CEO, Paychex CEO & Off The Charts: Commodities 6/29/22

**Jim Cramer** (0:01)
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It's really messy out there.
One of my absolute favorite CEOs said that face to me this morning, and it's been stuck in my head ever since. It's messy out there. Could we go on state days like today and Dow inched up 82 points, S&P dipped 0.07%, Nasdaq declined 0.03%. And actually, I think I know why it's been so messy.
We're in a moment where there are so many cost currents and undertones that we need to accept the mess, but also have the conviction that not every company and every sector is performing at the same level. Some of them are doing okay. Even if their cohort keeps getting blasted almost daily, they might be worth buying. Now, way back when I first got in the business at Goldman Sachs, we're talking about 40 years ago, I was told that 50% of a stock's performance came from its prowess or lack thereof, and the other 50% comes from its sector.
But those were the good old days before the rise of index funds, the proliferation of ETFs that do their best to homogenize or unhomogenizeable, which is the companies, right? They homogenize the publicly traded companies. They do it like the fungible bottles of milk coming from a variety of cows.
I mean, these days it doesn't feel like up to 90% of a stock's performance on a given day comes from its sector. Something on down days feels like a heavy gravitational pull. And you know what?
It is starting to drive me crazy. So tonight I want you to remind you that no two stocks are truly alike. And more important, the sector analysis everyone lives by these days is often the travesty of a mockery of a sham. On days like today, I am so steamed. I feel like opening the valves and spewing the scalding water on the purveyors of these sector ETFs, which cluster unlike companies to gaffe unsuspecting investors who are looking for diversification, or at least the illusion of diversification. These ETFs have to some degree ruined the values of individual management performances and made it much harder to make money owning individual stocks, which has always been a great way for Americans to make money. It can still be done though. Let's go over a way to do it. I want to give you some examples. There's a perception that all packaged food companies are the same, you hear that all the time, the CPGs they call them. They're all hung by inflation, they all have supply chain problems, the litany of negatives that have kept their stocks from being attractive for a long time. I say wrong. This morning, a company that we all know, we just have to go into any pantry in this country, General Mills reported something, it was nothing short of spectacular. Big G gave you organic net sales up an astounding 30%, with operating profit of up 85%. Even better, the company expects that the growth to accelerate and they're putting through a 6% dividend boost. This is everything we want from individual stocks, isn't it? It's fantastic.

**SPEAKER_3** (3:08)
I mean, I just love this.

**Jim Cramer** (3:11)
How did General Mills pull it off? They reshuffled the portfolio with an emphasis on the highest end pet food, which is the one that we used, right? You probably do too, if you really take care of your pet, up 22%, as well as food service up 25%. It was remarkable. And you know what's so funny? Thank you.
Excuse me.
These are just as good as they've always been. Remember I used to throw away the rest of the stuff, and eat those?
Just mentioning. Now we know Kellogg created a lot of value in it and announced it to break up plans, but General Mills is doing exactly what we want from a company. While the stock jumped 6% to a new high today, I think it would be a heck of a lot higher if it weren't being dragged down by the market wide negativity. This was an amazing quarter from these guys.
Oh, when I was young, a little reminiscent. Then there's Disney. This stock has been a nightmare ever since Netflix reported that miserable quarter. Is Disney really just Disney Plus? Is that all it is?