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like it or not the future belongs to young people and that includes the future of the stock market for example this morning i listened to american express say that percent of new 66.00 owners are millennials bingo the stock screams 14 points higher or take american eagles the stock we bought way too early for the charitable trust has now come down to the point where yields more than 3 percent but american eagle owns a huge chunk of the gen z market which is why matt boss jp morgan the best retail animals from wall street could see it rallying 50 percent if you evaluate the way kohl's is being valued on takeover we featured it on our morning meeting at 10 20 for investing club members only and the darn thing roared in the bull mode but you know what's really a shame though i've always told you to buy what you know that doesn't necessarily mean that you should just buy something like american eagle because you like your jeans what i want you to do is say hey i like american eagles genes now let me delve into the stock is it cheap how was the quarter how's that dividend do they have a problem with infrastructure that's the right way to buy when you know and that's what i try to teach in the cnbc investing club unfortunately we've got tons of young investors who insist on buying what they don't know i saw many millennials rush into the cruise line stocks not considering that maybe they needed to raise money to stay afloat which they did diluting the heck out of every owner i saw them by palantir in almost mystical fashion betting that it was somehow the best cyber warfare stock even though it isn't of course they love the ten dollar specs like you can only lose ten dollars it hurts to lose ten dollars and of course a year ago this week they piled into two companies not because they like the businesses oh no not at all actually but because they believe they could crush the short sellers i'm talking about amc and gamestop now i'm never against making money as long as you aren't breaking the law but i think it's a bad strategy to buy something that you either don't understand or don't care to understand sure with amc everybody knows movie theaters but you might not have known that ceo adam martin was desperate to raise some capital the whole way up to keep the company alive it otherwise wouldn't have been and then he followed that up by selling much of his personal stock more than 40 million dollars worth to make some money for his family i thought that was fine too you see because he was crystal clear that he was going to do it he even gave you a head start to get out ahead of him did you listen to him i think far too many younger investors who crowded into amc which is of course when you sell it was much much higher believe something big was happening here some kind of turn around maybe involving popcorn nothing could be further from the truth the numbers for the box office this year are horrendous down 55 percent from prepaid i mean they're horrible you had to get out while they're getting was good and he told you when that was by his stock sales why the emoji-headed monk bonks didn't listen to him i have no idea but at least with amc i can imagine a future where they're doing well gamestop on the other hand was always much harder to justify as an investment it's a video game retailer in a world where people just download their games over the web the whole bull thesis here was always tenuous to put it lightly the idea that an executive from chewie the digital pet food company could come over to gamestop's board of directors and changed everything well that was never a good reason to own the stock sure maybe they really are going into crypto and nfts but that feels more like a way to capitalize on a popular buzzword if they've finished my whole plan i think they actually could do well but maybe what they really should do and i've been thinking about this because i am a rigorous thinker maybe they should have gone into dog toys that you can buy with those coins more important younger people even like go to a game stop i mean really i mean if you've actually gone to the stores and seen how antiquated they are well you've already had a rude awakening i mean it's like guitar hero the people bidding this stock up simply knew that they could crack the shorts and once the shorts were beaten they stuck with the same playbook even though it made no longer sense because i'm wearing wearing shorts in it right now i'm seeing many younger investors get blown to smithereens because they don't know what they own many of them are proud that they smashed the short sellers in gamestop in amc but that was a year ago for heaven's sake and these hedge funds have moved on now it's time to buy stocks of what you know and if you truly knew gamestop and amc you or like know how to read a balance sheet with a ladder you probably wouldn't like them here at all unless making money doesn't matter anymore in which case you really are better off just watching football and betting on the game with one of a dozen apps every bit as good as robin hood if not better we're all caesars i like to say there's always a blue market summer and i promise try to find it just for you right here on mad money i'm jim cramer see you tomorrow the news with shepherd smith starts now
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