With Washington policymakers butting heads over the federal budget, Jim Cramer decided to prepare investors for the case of a possible sell-off that could send stocks reeling.
"We've got another major political problem coming up that seems tailor-made to cause the kind of panicked sell-off that makes for a fabulous buying opportunity," the " Mad Money " host said.
"I'm talking about the prospect that the geniuses in Congress accidentally cause a government shutdown because they might not be able to pass a budget by the deadline this Friday," he continued.
While Cramer does not necessarily think a shutdown is bound to happen, worries that it might happen could slow the rally and even push stocks lower.
"In short, despite today's euphoria, you maybe get a better chance to buy," Cramer said.
At the same time, though a federal standstill might hit the stock market, Cramer does not believe that President Donald Trump's tax plan announcement on Wednesday has anything to do with the market's Monday boost.
"There are so many pundits out there saying that today's rally is all about these tax cuts that I think I have to call a time out and explain how that's not the real driver of this fabulous move," the " Mad Money " host said on Monday.
In reality, the market's upward move had two main drivers aside from the French election, Cramer said: increased merger activity and a wave of better-than-expected earnings reports.
One such report came from toy maker Hasbro (NASDAQ: HAS). Its shares closed up almost 6 percent on Monday after the company delivered an earnings beat that was boosted by new digital initiatives.
And as the world migrates online, Hasbro (NASDAQ: HAS) Chairman and CEO Brian Goldner told Cramer on Monday that his company has taken advantage of new-age trends that are paying off for the legacy toymaker.
"We are creating social-media-type games that now allow people to play face-to-face, but we're also creating digital games. And what we're finding out about our brands is they really resonate in that mobile gaming space," Goldner said.
Cramer also spoke with T-Mobile (NASDAQ: TMUS) President and CEO John Legere, w ho said he has always felt like his mo bile communications company was leaps and bounds ahead of its competitors.
"I've always told you that both dumb and dumber have been big contributors to the success of T-Mobile," he said to Cramer on Monday.
Legere attributed T-Mobile's handy earnings beat on Monday mainly to its customer growth — 1.1 million total net additions — and boosted service revenues, something not seen in the wireless industry in several years.
Finally, Cramer sat down with Scott Santi, chairman and CEO of Illinois Tool Works (NYSE: ITW), for his take on how the niche industrial has maintained its growth and continues to hit all-time highs.
Santi said the company's success — and what makes its stock a buy in Cramer's eyes — is its unique "80-20" operating model that serves to streamline the business.
"It really is built around a phenomenon that we see over and over again in our kinds of companies, our kinds of businesses, which is that typically, 20 percent of a business' customers and product lines generate 80 percent of revenue," Santi told Cramer on Monday.
Santi said that the method, which also helps cut costs and other complications, has been a key to Illinois Tool Works' success.
"It really comes about from that ability to really laser-light focus on those larger customers and more dominant product lines that really drive the bulk of the profitability in any business," the CEO said.
In Cramer's lightning round , he rattled off his take on some caller favorite stocks:
Berkshire Hathaway, Inc. (NYSE: BRK.A): "Well, I think that I don't want to go against [Warren Buffett's] judgment because he's the best I've ever seen and I am sure that he's also taking care of the idea of who should go after him. So I like that stock on the both short and long term basis."
Valeant Pharmaceuticals (Toronto Stock Exchange: VRX-CA): "No, no, no. We don't want to buy that. Remember, that's just a call. They owe $30 billion. You're looking at, really, an option on the idea that maybe one day they'll be able to pay all that. I don't feel that comfortable about that situation, but I always welcome management to come on the show."
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