Cramer says sell HB's 1 week before fed cut

Discussion in 'Trading' started by silk, Sep 10, 2007.

  1. Cramer was saying anyone who sells Goldman Sachs at $220 is "an idiot"....

    GS now at $180 give or take...priceless
     
    #11     Sep 10, 2007
  2. silk

    silk

    While we getting on Cramer's case, here is one last one. He poo pooed subprime as being trivial all spring and summer and then it turned out to be the biggest story in the markets of the last 5 years.

    Actually i think Cramer is good. But when you make 1000's of calls you are going to wind up looking like an idiot hundreds of times.
     
    #12     Sep 10, 2007
  3. why does anybody watch , listen or even care what cosmo cramer has to say or recommend
     
    #13     Sep 10, 2007
  4. making bad calls is one thing, but calling your audience "idiots" is quite another....

    Hopefully the Fox Business channel will appeal to people with IQ's above 40
     
    #14     Sep 10, 2007
  5. But BZH short interest is only 91.90%. :p

    Yeah, I think you're on the right track here.

    EDIT: Not trying to spoil the party, but Silk; Have you seen the news that came out on BZH after the close? Kinda ugly.

    ___________________________
    Beazer receives notice of default from bond trustee

    NEW YORK (Reuters) - Beazer Homes USA Inc (BZH.N: Quote, Profile, Research),said on Monday it has received a notice of default from the trustee of one of its convertible notes and that it has filed for a relief from a federal court that would stop trustee's action.

    Beazer, whose mortgage unit is the subject of a federal investigation, said that on Friday, its received a purported default notice from U.S. Bank National Association, the trustee governing Beazer's outstanding 4 5/8 percent Convertible Senior Notes due 2024.

    http://www.reuters.com/article/marketsNews/idUKWNAS377320070910?rpc=44
     
    #15     Sep 10, 2007
  6. silk

    silk

    That is same news as friday when default notices were given related to a their other bonds on friday. Same thing. My understanding is its a shake down to get money out of BZH. Same thing happened to KBH last year and KBH finally paid $16 million to bondholders to get a waiver. In BZH case sounds like they have grounds to block the default notice and have sued accordingly. They also have 60 days to get the 10Q out in any event. I've been told that what is going on is hedge funds that own the bonds trying to ciruclate the bad press so they can buy more bonds and shares on the cheap. Then they create a takeover rumor or refinancing or something and they make out like bandits. BZH is not going under anytime soon.
     
    #16     Sep 10, 2007

  7. BOOK VALUE is deceptive, they own land and real estate and god knows what thats worth and how much it will lose next quarter. You cannot value a company, based on book value alone.

    Do you know what the discounted cash flow stream is worth for these turkeys?
     
    #17     Sep 10, 2007

  8. Crammer lost his shirt on GS. He owned GS and SHLD, both cost him a ton of money
     
    #18     Sep 10, 2007
  9. gaj

    gaj


    actually, he purchased SHLD for his charitable trust long ago, at like 40? GS, he's had forever too.

    so those are bad examples to use. there's plenty of terrible calls...

    and don't forget, his action alerts portfolio has basically had the same results as the s&p for the 6 years which he's run it.

    THAT'S the key takeaway.
     
    #19     Sep 11, 2007
  10. Well Silk, since I happen to know that you're one of the most successful traders on ET, plus your reasoning makes sense;
    I bought 11,000 shares of Beavis Homes today in my long term/investment account. Good luck to us...
     
    #20     Sep 11, 2007