Cramer burning out and comtemplating retiring?

Discussion in 'Wall St. News' started by makloda, Nov 14, 2007.

  1. From Cramer's blog, looks like he is getting so frustrated and feels helpless with people ripping into him:

    Last night after I finished the live auction at St. Jude's Wall Street division, I was immediately accosted, right from the podium, by a woman who said I had lost her her life savings.

    I was stunned, in part because we had just had a very successful auction and I was proud of the money we raised -- $97,000, which is $10,000 better than we did last year when I auctioned. I was in no mood to hear the catcalls.

    But more important, I was struck by how, when I said I liked oil, ag, minerals, defense and aerospace and tech -- Apple, Google, Research In Motion, Hewlett-Packard, Cisco, EMC -- over and over and over again, how I could have lost someone her life savings? What did she do?

    I told her that couldn't be the case if you followed me. She said she wanted me to make good the losses I had caused and wanted them made good now.

    I had no security there so I didn't know what to do. I said that I was sorry she felt that way, but then she pursued me even as I tried to embrace one of the children who has been cured by St. Jude's. It was bizarre. It was awful. And it comes with the territory of trying to explain and help people pick stocks.

    I know that on Thursday I said I liked some stocks that went down Friday and Monday and I told you to buy them into the selloff. If you did, you are up a great deal.

    But perhaps she bought Friday and sold Monday? Perhaps she put all of her assets in speculative stocks that got crushed? Perhaps she just bought Citigroup? I don't know.

    All I know is that I have a method. The method, studying stocks and buying the good ones on the way down on a scale not aggressively and letting stock go into strength has worked for me since 1981. I think it can work for others. There are many other styles mentioned on these sites. I always say find what works for you.

    In the end, though, you are going to have to be under water by nature if you do what I do until the swing occurs or something good occurs at the firm I am recommending. If I recommend buying up I have never found that to be a winner for me.

    I got an email recently from someone who said that he was shocked at how much negative media coverage I get. He was adamant that people just want me to disappear, to go back to the hedge fund business. I have been offered a billion dollars to manage on several occasions in the last year. I have said no. I said no because I believe this is a higher calling, something where I can help people. Believe me -- if I wasn't empirically helping people, I'd just go run the money and say. "It was a nice time, but it didn't work."

    I can't. Too many pros too numerous to mention swear by "Mad Money" and swear by my writings. Some have been in awe of my stock picking and sector picking this year. A few who runs multiple billions did the "four horsemen of tech," which I pushed every day, or bought Google or Apple or RIM against their own good judgment because I insisted on it.

    I hate to ever take my cue from my billionaire friends, but they have much more knowledge of what works and what it takes to get rich than either my media critics or that crazed attacking woman last night at St. Jude's or the vicious questioners on Stockpickr. Without them, I have to admit, no matter how many appeals by people who are trying to be good, I would have gone back to hedge funds. They are the ones I respect, even as I want to help those without means. If they thought I was washed up, I would be.

    Someday maybe I will go run my own family money. That holds some intrigue for me. I am proud that I would have enough family money to run.

    Until then you are stuck with me. The media are stuck with me.

    And I am sticking with Cramer.
     
  2. i want to challenge cramer 1 on 1
     
  3. i`d rather the thread read....."Cramer burning out & contemplating suicide"......anyone whom thinks this guy is here to help the people are wrong......scumbag is what he is.
     
  4. the biggest scumbags work at fnc and fbc.
     
  5. Scumbag or not, the dude did something right to obtain 100+ mil net worth.
     
  6. jd7419

    jd7419

    Imagine if we go into a real bear market. That wrath of the cool aid drinker callers on mad money will probably put cramer in the nut house. Anyway I used to not like the man, but lately I am coming to the realization that hes an entertainer. A good one actually.
     
  7. Methinks Cramer burned out his audience with crappy calls.

    Watching someone jumping around like a monkey and yelling out stock picks for an hour gets old after a few years.
     
  8. An interesting book on Cramer -

    Trading with the Enemy

    If he wasn't buddies with Princess Spitzer he would have probably been doing the perp walk back in the day.
     
  9. Volente....if you knew a little more about how he obtained what he claims to be worth.....you would`nt be patting him on his ass & giving him a hug.

    i believe you are under the illusion that he`s actually a good trader?
     
    #10     Nov 14, 2007