well, you keep reffering to him ending up with $100 million +.......so you acknowledge he`s a salesman then & not a trader? once again.....his stock picks are NOT what i`m speaking about here......it`s more that he has zero ethics & would sell his own mothers soul to the devil if the price was right. i know what i know about the scumbag & it would be in my best interest not to divulge anything here.
Considering the success of Mad Money is and how cramer uses it as a platform to indirectly promote thestreet.com I doubt he will be quitting, unfortunately.
Cramer is more of a showman than a trader. There is more money to be made showing others how to make money than trying to game the markets the hard way. It has to be some public medium. Many people have done that, most remarkably WADE COOK in mid 1996-1997 era.
Cramer is probably one of the few talking heads out there that actually has a clue and has actually managed money successfully in the past. The public ought to be grateful for his presence in the otherwise vapid environment of financial commentators. The plain fact of the matter is when you are in the business of making bets, you are going to get some right and you are going to get some wrong. Which is why the Maria Bs of the world stick to renting themselves out as mouthpieces for CEOs who want to talk their book. You get the fame, the fawning of a gullible public and no risk. The other plain fact of the matter is that the common person likes to follow a leader - it's hardwired in human beings, and when they come to grief from their mindless following, will set upon their leader, instead of taking responsibility for their actions. This is how nice ordinary people turn into mobs that gather around to watch heads roll into a basket. Cramer should have seen this coming and stuck to Delphic utterances that would slide off him like Teflon when they go bad. ("On the one hand I like GOOG ..... but if XYZ happens, you should sell. Unless ABC happens first, then you don't.") Lengthy explanations with lots of escape clauses a la Greenspan save you from the wrath of the public, and have the added bonus of appearing respectable and erudite to the dim witted masses.
1) He likes the sound of his own voice too much to leave 2) He's got a new book to hawk. Sales are exponentially more with him on the tube. R
You sure of the above? Just in the last year or so, I've seen a couple of his touts that would have blown any moderately aggresive trader who traded the tout (not faded it). If he's blowing you up, how good can he be? Compare that fatality rate to the talents of any of a half dozen ETers whose picks in the last year or so would have made a follower tons of dinero without oversized drawdowns. Conclusion? Useful advice is many times more likely to appear here than on Mad Money or thestreet.com.