Many of them sure seemed to have developed some pep in their step today. A day where the dow gained 26 points, ninth Straight Record high s p advanced 1. 6 , first record close since july 26. And the nasdaq climbed 0. 51 [ applause ] for the past couple of weeks, the dow jones average has captivated people throughout the country as it lunged through 22,000 level like it was childs play at the same time, the Growth Technology stocks, like f. A. N. G. , have been under pressure, with lot theorizing its game forever author these allegedly overvalued companies of course, the tech bears are not all that original. Boo the narrative for this decline is always the same when the has dnasdaq peaked in h of 2000, lots of money flowed out of tech. All of the same old school stocks that people revert to when the tide goes out and the hyper Growth Stocks are revealed to be frothy and expensive but i love historical analogies as much as the next guy, im always trying to find patterns but history doesnt always repeat itself. In fact, there are times when it can lead you very much astray. For example, ifyou took your cue from 2000 when it comes to these red hot tech stocks, the history did lead you astray, because 2017 is a very different story. This morning, when i saw the reversal of money back into the high flyers, and they were flying from the get go, you know what i did i decided to google top, nasdaq, 2000 so what comes up the stocks that crashed and burned back at the turn of the century, how overvalued they were and a couple of interesting articles, including a story written on march 20, they bucked the conventional wisdom. This suggested that maybe stocks werent as overvalued. It was a brave analysis. And rational but i am sure the piece was scoffed at as soon as it hit whatever wire it was, because, well, it was written as soon as you write a piece like that, as soon as you Say Something like that, heres what happens. The scolds come out, and they tell us that the four most dangerous words in the lexicon are, this time is different. Nord, anyone who argues the high flying tech stocks have more room to run, that theyre not due for a crash, is seen as being a fool, whistling past the graveyard, because history is supposed to repeat itself. [ whistling oh, sorry. So i decided to go back to see how f. A. N. G. , facebook, amazon, netflix and google, was doing at that 15th anniversary when the piece was written. Because its an excellent illustration why you shouldnt take this too seriously. In march of 2015, facebook was trading at 81 now its at 172 so you would have left 90 on the table because this time wasnt supposed to be different. More important, though, was facebooks stock even that expensive at that moment in time all right. It sure looked expensive Facebook Stock has always looked expensive from the day it was born but was it remember when you examined Growth Stocks, you need to look at whats known as the out years, the earnings and the future because the near term numbers dont capture the trajectory if you looked out a couple of years, you would have discovered facebook was trading at just 16 times its 2017 earnings estimates. I think those are low ball numbers, too but the point is, if you looked at the right metric two years ago, it would have been obvious facebook was much cheaper than it seemed. Thats nothing like the has dak peaked in 2000 how about Amazon Amazon stock was trading at 369 when that piece came out you thought there would be a year 2000 reprieve, you missed a monster move, up to 992 as of today. Now, this one is trickier. Amazon isnt really judged on an earnings basis ill talk about how its valued later on the show. What you need to know is if you looked tat numbers alone two years ago, you would have missed that amazon was developing this Cloud Based WebService Business many of the smartest people i know say its 40 of the value of the Company Given its growth and prospects. Whats 40 of amazon worth right now . How about 395 thats right, the web Services Business alone is worth more than what the entire company was selling for a couple of years ago. How about the n in f. A. N. G. . Netflix, in 2015, the company had 65 million subscribers at the time, there was a feeling it was stalling out. Something that was dispelled the next quarter it jumped from 62 to 81 and change more importantly, not only did subscriber growth continue, but netflix conquered international. More than 50 of the current 103 million subskricribers are now m overseas, and the stock trades for 181 finally, theres google, now alphabet back then it was 555, now its 945 still, lets perform the same exercise given the 2017 numbers we should use, the estimates and whats in the can, the stock is trading at 16 times earnings. Its dirt cheap, people. So before you takethe eternal pessimists of technology too seriously, they were saying the exact same thing more than two years ago. They were trying to get you out, they probably succeeded in a lot of cases when you look at the high profile of the f. A. N. G. Stocks, the earnings have only accelera accelerated. The truth is, i can find plenty of stronger tech names than f. A. N. G. How about nvidia lots of people think its the most outrageously valued stock on the market, accentuated by the fact that it took outits alltime high today. And the fact that i renamed my dog nvidia in march of 2015, what do you think it was trade at . Six, six times earnings. Yeah, the estimates were that low. Way too low. Oh, boy, it looked expensive turned out to be one of the greatest bargains of alltime. I dont want to scare you, but the same thing could happen again. Oh, maybe it wont be different. Now, look, im not saying you should only own these high flying tech stocks i said this very weekend, i had to dispel someone of this knowledge by Photo Bombing them. Its absurd. If you want the best growth right now, you have to look in aerospace. I think boeing is undervalued here the cheapest Aerospace Stock was rockwell collins, trading at 109 at the time today, United Technologies might be buying that country outright. I think United Technologies could easily pay 140 a share, well above the current price, to make it work for utx shareholders greg hayes, im talking to you hes the ceo im not wedded to tech alone, im just making the point we need to stop thinking of these tech stocks as being dangerous land mines that could detonate upon contact the last time everyone freaked out about the nasdaqs valuation in 2015, it was an amazing big opportunity, as the stocks turned out to be cheat the bottom line, as long as you remember that history doesnt necessarily have to repeat itself, you might want to buy one of these tech stocks on the next dip otherwise, maybe youre missing an opportunity, and this opportunity only gets better when the high flyers pull back and everyone starts freaking out. Lets go to carol in florida carol. Caller hi, jim thanks for taking my call. Of course caller im a longtime holder of office depot, and its finally coming back to life but still not great. Do you think theres hope for them you know, its at a 52week high i never want to say all you can lose is 6, because you can lose 6 but i thinkits fine to me, though, i would just not a lot there. All right. Thats all show wrote. History doesnt always repeat itself now you know the next dip is an opportunity. On mad money tonight, the stock remains stagnant is the botox maker frozen . Im eyeing the fine lines of the earn wgs the ceo and why netflix and amazon have defied wall street rules and whether tesla will continue to defy it, too and snapon tools have been experiencing a snapback in shares but could the companys 500 million buyback announcement today give you more confidence in the stock lets talk to the ceo. And stick with cramer. Dont miss a second of mad money. Follow jimcramer at twitter have a question . Tweet cramer at madtweets send jim an email to madmoney cnbc. Com or give us a call at 1800743cnbc miss something head to madmoney. Cnbc. Com. At ally, were doing Digital Financial services right. But if thats not enough, we have 7500 allys looking out for one thing, you. Call in the next ten minutes to save on. And if thats not enough, well look after your every dollar. Put down the phone. And if thats not enough, well look after your every cent. Grab your wallet. Access denied. And if thats still not enough to help you save. Ooo i need these well just bring out the snowplow. You dont need those well do anything, seriously anything, to help our customers. Thanks. Ally. Do it right. Who knew that phones would starentertaining us,ng . Getting us back on track and finding us dates. Phones really have changed. So why hasnt the way we pay for them . Introducing xfinity mobile. You only pay for data and can easily switch between pay per gig and unlimited. No one else lets you do that. See how much you can save when you choose by the gig or unlimited. Call or go to xfinitymobile. Com. Xfinity mobile. Its a new kind of network, designed to save you money. Whats happening with allergen the drug company with ahuge medical esthetics business that you know we love we own it for my Charitable Trust because its some of the best growth in the industry. All together, it could be worth 13 billion in peak sales. The company also got a long history of thrivering excellent results. Last thursday, it delivered a ten cents earnings off of a 392 basis. Management raised their fullyear guidance however, the stock has barely budged now its down from where it was trading before the Company Reported isnt the Company Getting lets just say its not getting the credit it deserves lets take a holook with the ce of the company i am a little incensed with your stock, i was looking at pfizer and bristol. A 3 yield should not protect anyone im trying to understand this. You have a stake in teba every day it goes down it hurts your stock cant you just dump it we do own a small dollar value of teba. Its about 10 , a couple billion dollars and we have several billion in cash, and we do when we did the deal with teba over a year ago, we were locked up for one year. The one year just expired a few days ago weve been clear from the day we took the teba position that we would not be longterm holders however, were responsible stewards well sell the stock over the next few quarters in a responsible way. Im not sure selling i have spent hours since you reported trying to figure out the valuation. Most companies do not have as much in the pipe most of the drugs people have in the pipe arent as big as yours. So it was the only thing i could come up with trading on the stock market valuation of teba for allergan doesnt make a lot of sense to me i want to talk about these drugs. Market size opportunity and where you are. So probably the two biggest are repastino, which is in phase three. This is our novel depression drug it could be a game changer in depression i. V its about 30second injection. Its not like sitting with a bag for hours. We know that can be delivered in the psychiatrists office, and theres a whole infrastructure around the world for home infusion, as well as infusion centers. So people should we couldnt do injections for migraines and we do that just fine. So that shouldnt be an issue. The data is replicated from phase two to phase three it wont be a game changer in a huge market. The others are oral cprg compounds. We have two of them. English, english. One for prophylaxis, one for chronic. Both in late stage testing we have a couple thousand patients enrolled. Theyre proceeding ahead of schedule the safety looks really good so far. And so well get results next year both could be game changers. The migraine market is massive theres this whole new chlass o drugs coming these will be the only orals people prefer orals opposed to injections we have a small molecule following. Medical, i dont think people understand medical esthetics you said something that made me think, your company may be the selfie generation drug company, because you said both males, but millennials are doing this that was not the case for people who when i was a millennial age. How is that happening . Lets just take the market in the united states. 30 Million People consider esthetic applications today, roughly. 30 Million People. Only 3 million receive so we havent even penetrated the market and we could double that 30 million to 60 million. And these are people that dont have to worry about medicare its all cash. Now, within that 3 million that are considering, we see two new groups starting to emerge. Millennials, which account for maybe 10 , 15 of the 3 million, and males, which account for 10 , 15 so both relatively new to that 3 million group. But growing quickly. And so yes, maybe the selfie generation has alot to do with it okay. Now, theres also you were a little disappointed with cybella, but you think you can get it going were not disappointed. As a drug, its delivering exactly what it spended to eino which is reduction of the double chin it works theres enough use out there that we know it works. We are creating a newmarket, the lower face youve said, and i use it all the time, that allergan owns the face you do. It takes some time. It took us a long time to develop the upper face, several years. Scoping for fat reduction has been around seven, eight years were just hitting our stride. These new markets take a few years to develop but cybela works, and the injectors are getting comfortable. Last thing, fda, the whole scheme of Affordable Health care, obamacare, where do you fit in and what do you see happening . I applaud all the efforts to make medicine more affordable and accessible you know allergan has been a leader in this we did have social contract almost a year ago, an idea stimulated right here on mad money when you asked me about that that really got me thinking about it and so what were seeing in this administration is constructive the things that secretary pryce is doing, commissioner gottlieb to look at how we stimulate competition and break down the barriers that are artificial that cause high drug prices. But we have to also make sure theres an incentive to investor innovation we have to solve your larng jit laryngitis yes, please i dont understand the valuation, other than to tell you its too cheap mad money is back after the break. Coming up, the internet of things is arriving fast. But after a big drop last week, is it time to disconnect from Sierra Wireless . That was a steep decline. Cramer sits down with the ceo, when mad money returns. So thats the idea. What do you think . Hate to play devils advocate but. I kind of feel like its a game changer. I wouldnt go that far. Are you there . Hes probably on mute. Yeah. Gary wont like it. Why . Because hes gary. phone ringing what . Keep going yeah. laughs voice on phone its not millennial enough. There are a lot of ways to say no. Thank you so much. Thank you so were doing it. Yes start saying yes to your companys best ideas. Let us help with money and knowhow, so you can get business done. American express open. In the stock business, i wrote a fabulous book, how to use what you already know to make money in the market by peter lynch if you dont know lynch, hes a legendary mutual fund manager who ran the Magellan Fund for fidelity, created wealth for millions of people i liked lynch so much that even when i was living out of my car, i still contributed 100 a month to him and on friday nights show, i talked about the need to invest money for your kids. Put it into a 529 plan back on topic, lynchs book changed everything for me. He had a simple precept, which is if you keep your eyes open and like a product or a store or some sort of experience, you may just have a profitable investment on your hands the people who are use thing method to buy stocks should really read it, because then youll discover that your personal knowledge and observations are a good place to start when investing in a country. You have to do some homework you shouldnt just buy the stock of something you love without doing research if you dont have the time or inclinician to do that, dont know when to sell . Thats okay. Its easier to do the homework, you should put your money in a mutual fund or just an index fund of your own choose. A simple s p 500 will do but a funny thing happened the homework has in some cases kept you out of stocks that you might otherwise have owned and made fortunes in in the last few years, weve seen three companies pass the first test but they had to be bought any way, amazon, netflix and tesla for years, amazon spent more than it had and relied on the kindness of the Financial Markets to stay afloat because investors believed in the investment model most of the smart people i talked to never believed in amazon but the love for the product and the genius of the man behind it drove the stock to where it is today. One of the greatest runs of all time netflix is no different. Who doesnt love netflix again, if you did the work, well, or you looked at the fundamentals, you would find a real money loser making things even more difficult on the recent conference call, the ceo championed the notion that negative Free Cash Flow will be an indicator of enormous success, his quote i dont think that would pass the lynch test now along comes teslas ceo elon musk with his 1. 5 billion bond offering announced today one of many deals this company has used to finance growth tesla is doing this deal to raise money to produce the model three. Like amazon prime, like netflix, the product that is tesla, the car, is loved. But whoa, its almost impossible to tell how much money tesla makes per car, if anything nor is it possible to define the future of the company. It could be the next amazon, a tech company that sells cars in other words, the homework kept you out of the stock, not in the hazard of the business what are we supposed to make of these . Just suspend judgment when we find something we love with a stock attached to it im stuck on the second part of the test its been a mistake not to only those thee for certain but at the same time, tesla has kept you out of many loser i wish i had an answer maybe just sake some real mad money and buy one of them. Thats been my view for some time, even as i always say you need to know your own risk tolerance, no matter the fact is, some sto