Maybe we should have a fun index. An index about the companies where the execs seem to be enjoying themselves, happy to tell their story.
Number one in the fun index? Netflix (NFLX) . Here's a company that's pretty cheery about everything. Competition? The more the merrier, makes our value proposition even stronger. Amazon (AMZN) ? Wish them luck, but it is a lot harder to get the word out to individual talented directors and writers in Hollywood than Amazon seems to think. The first time I have ever had someone make light of Amazon as a competitor.
The possibilities of having to spend too much on original product? Nope, they have to spend even more than they are, because the time is so right. Worried about Asian adoption? Nah, they saw how it is done in Brazil and Mexico, and it can be repeated in Asia.
It's pure joy.
Now, maybe that's because they have an interrogator -- Doug Mitchelson from UBS -- who asks all the questions, so it becomes a conversation, which I like so much more than the current style of conference calls. The other reports? It's all about a queue of analysts asking questions one after the other that have nothing to do with each other, so you get so much less out of management.
I know that people would think that it is counterintuitive that things there could be learned from what seems far more scripted and less adversarial, but what's the point in being adversarial if management are as transparent as this one and open to talking about any faults they have?
Can it be goofy? Sure, like the fact that the management team wore Stranger Things Two duds from Target TGT, good for an ugly sweater contest to rival Christmas ugly sweater day.
Can it be given to hyperbole and showmanship? Of course, like the last call when Reed Hastings said that enormous negative cash flow can be the key to success -- something that was unchallenged but should have been given at least some sort of riposte.
In general, though, what I get is their vision, a vision of having several hundred million viewers who will be hooked at lower price points and will then see them raised, in part because the stupid movie theatres have priced their own wares at $10-12 for show and some real expensive candy, while you can get tons of more valuable programming than a movie with all the candy and popcorn you want at home. It is an unassailable value, one that sells itself in every region where the company makes content.
Now, Netflix management aren't alone in having fun. John Legere gets a kick out of bashing the competition on the T-Mobile (TMUS) call. He's feisty and he's playing all trash-mouthed, coming in hot.
Rob Sands from Constellation Brands (STZ) runs a totally upbeat conference call that's informative and comfortable with lots of tidbits and insights scattered through the narrative.
Elon Musk throws a party at Tesla (TSLA) . You get a sense that Musk is having a grand time, maybe too grand a time. I find it off-putting because of the hubris, but it's mighty entertaining.
And Restoration Hardware's (RH) Gary Friedman, in good and bad times, clearly enjoys telling you what his company's trying to do, through his breakthrough videos. You may not like them -- I find them informative and not bound by traditional ways of thinking.
But in the end, I come back to Netflix, because the calls are inspiring for all who want to think big, and no one's thinking bigger than these guys. No one. It's a tour de force, and I bet if we made people watch it in school there would be a heck of a lot more stock investors than we have now.
Join Jim Cramer, CNBC's Jon Najarian and Other Experts Oct. 28 in New York
Jim Cramer will host CNBC's Jon Najarian, TD Ameritrade's JJ Kinahan, famed analytics expert Marc Chaikin and other market mavens on Oct. 28 in New York City to share successful strategies for active investors.
You can join them as they discuss how smart investors can make the most of options trading, futures contracts, fundamental and quantitative analysis and great ETFs to buy right now. Participants will also get a chance to meet Jim and other panelists and take photos.
When: Saturday, Oct. 28, 8 a.m.-3 p.m.
Where: The Harvard Club of New York, 35 West 44th St., New York, N.Y.
Cost: $250 per person.
Click here for the full conference agenda or to reserve your seat now.