Sometimes Jim Cramer finds himself praying that Disney (DIS) CEO Bob Iger never retires, because he makes it so hard for investors to sell the stock.
"Iger's calming words about business on the conference call reversed a substantial decline and turned it into a small advance," the "Mad Money" host said.
Iger performed his magic by telling investors about all of the tremendous events and special things that will be added to the bottom line if investors hung on to Disney's stock.
It made Cramer feel like he was about to miss the opening of the biggest movie ever. Even better, Iger topped it off with a monster buyback, which seems to accelerate whenever the stock is down. Disney repurchased 15 million shares for approximately $1.5 billion last quarter, with plans to buy another $7 to $8 billion in the rest of the year.
"It's like Iger was saying, you want to sell Disney off of ESPN? Go ahead … I'll make more money off of you than you ever dreamed of," Cramer said.
Cramer hears worries every day that stocks are now overvalued, but still maintains that stocks aren't as outrageously priced versus other rallies in the past.
"The valuations are pretty darned reasonable, but I have a hard time proving it to people because we are in an incredibly visceral, polarizing moment stemming from the election of a pro-business president who seems to rack up an incredible amount of baggage on a daily basis," he said.
To prove that stocks are not overvalued once and for all, Cramer compared the top companies that dominated the market back in 1999, when the market was last on the verge of collapsing due to true overvaluation.
He ultimately found that five of the six largest companies right now all have justified fundamentals, with the only outlier being Amazon (AMZN), which Cramer said cannot be confined to a spreadsheet.
While many companies are scrambling to create more jobs in the U.S. to satisfy President Donald Trump 's hiring agenda, General Electric (GE) CEO Jeff Immelt isn't sweating it.
"We create great jobs here when we sell our products every place, and I think the president knows that," Immelt said.
Immelt also said he likes what Trump is doing so far when it comes to infrastructure, tax reform and regulatory reform. He plans to help Trump in any way that he can, and intends to lead by example .
Infact, Immelt said his company has been navigating the world on its own, and is happy to continue doing that without help from Washington.
"We don't have to go through Washington on our way to be global. We are global. We've got people all over the world," Immelt said.