He talks and acts like a moron, but certainly hes not. This is pure marketing for himself since he cant cut it in the hedge fund world anymore after information aribtrage game is over... All he has now is selling books, videos, and making paid TV appearances...
I know. When I heard that I almost crapped in my pants. What a lame and incorrect excuse for the troubles of WalMart.
The crash of 1929. There is nothing unique about the crash of '29. It is something that happens every 20 to 30 years, because that is the length of the financial memory. It is about the length of time needed for a new set of suckers to come in and imagine they have a new and wonderful fix on the future." From: Jesse Livermore, World's greatest stock trader. Maria
I liked his excuse for why he thought Six Flags was a good buy. He said that because the land was valuable and that a developer could come right in and build houses on it. So they are going to dismantle the park and then build houses on it? Is this why they brought in the new CEO?
Well, he's right about the land in SoCal, it's golden. But what the hell kinda reason is that to buy the stock? If the company fails, the stock would tank waaayyy before the land would be sold.
Where "World's greatest stock trader" means "Guy who shot himself because he couldn't make money without cheating after the SEC reforms."
These threads come up continously on ET. Once and for all, a drop like 1987 or 1929 cannot happen in one day _ever_ (for all practical purposes) again unless it OPENs there, because of the new rules the exchanges have instituted to prevent such an event from happening _intraday_. FWIW to you guys, I traded on what I thought the economy would do (tank) and how it would affect European and American markets, and held futures positions over night for several weeks. I did it with size. I blew out. If you are going to gamble on opinions, at least do it with options on futs (or options on NDX SPX or etf's) where your risk is known before hand. They now trade weekly expiring options on index futs at the CBOE. If you want to take a gamble on a tank on Monday, you could have bought yesterday, for example the 1400 weekly puts on SPX, expiring next Friday. If on Monday no crash, exit the position for a small loss or possibly a small gain. nitro
The point is Cramer is a moron and his MO is simply BUY, BUY, BUY best of breed, not rocket science and he will be right more then he's wrong BUT the problem is when he's wrong he will be REALLY wrong and it will wipe out all the good that he may have done. So what's the point?
The point is that there are three types of people that watch that show : 1) People that watch that show for entertainment 2) Investors that are looking for ideas, and aren't looking to time the market so much on daily time frames. 3) Traders that are looking to make markets with edge to #2 people and scalp them for small gains. Other than that, there is no point. nitro
I think in a way we are all a little bit jealous of cramer, but not for the reasons you may think. How great would it be to purchase stocks and then tell millions of your sheep to go out and buy it. We would all kill for that kind of opportunity. His charitable trust should be making a fortune. I guess that is how he justifies leading people astray. It's all for charity.