I got my monthly marketing emai from TheStreet.com. Anyone know what Jim's 10 Favorite Stocks are so I can short them?
I can't even watch Cramer with the sound all the way off...he is beyond words. Better to watch Fox News, like Neil Cavuto's show with some better guests like Jimmy Rogers, Jonathon Honig, or Gary B. Smith.
but cramer HAS got most of this rally...was bullish entire '03. having said that...he also was telling everyone that june 02 was the fulcrum point, the 'put it all in the market' point because of the trading goddess, and that he had put all his money to work. and in july, when maria was telling everyone to sell short, cramer was telling everyone to sell it all....
Months ago Cramer was seemingly correct in calling a bottom.Unfortunately it was the fifth time he called the bottom.Listening to his advise ,you would just about be broke by the time the economy and the market rally.He also owns half the stocks they talk about.own it,own it, own it,own that too, own it, own it,have a small position in that.I think its K and C's own info-mercial to promote the markets and equities.They probably pay CNBC to run the show.Kudlows even worse,he's called the bottom eight times.And these guys have actually managed other peoples money? Thats a pretty scary thought.
Cramer made money by arbitraging information, working the phones to get the "first call" - this was his edge that allowed him to make 35% per year or whatever it was. After Reg FD that edge evaporated into thin air. This makes his decision to close down his fund and become a full-time pundit look well-timed. He is nothing special as an investor either, as shown by the performance of his action alert portfolio during the bear market (contrast with Realmoney poster Arne Alsin's during the same period). Finally, don't forget that Cramer was one day away from doing a Niederhoffer in 1998. He admits in print that the only reason he stayed solvent was because his wife bet the farm by going over their clearing firm credit limits and betting their fund on a bottom. So basically they took a massive risk of total loss of investor's money, so that Cramer could coin flip to save his own neck. They got lucky and the bottom was occured just in time. If they had been only 24 hours out, then Cramer's entire record would have been vaporized in one day just like Vic's, and they would have owed their clearing firm a fortune. Then we wouldn't be hearing too much of him, I suspect. This is not personal opinion btw - you can read about it in Cramer's own words in the Realmoney archives or his book "Confessions of a Street addict".
I like how Cramer says he is going to use X amount of dollars in his RealMoney ActionAlerts portfolio but whenever the market takes a dip, he gets to add money into the portfolio. So he started out with X initially but because of all the adds he is up to X+Y. Makes it hard to duplicate his performance when you start out with X dollars and assume that is all you are going to use.