Does anyone else find this scary?

Discussion in 'Educational Resources' started by Cutten, Nov 1, 2003.

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  1. Something I saw in an article about Jim Cramer:

    "THURSDAY

    401(k) Spotlight
    An every-day feature, Jim fixes a listener's 401(k). "

    Would you trust your retirement savings with this guy? He's a (former) hedge-fund trader, with no track record as a long-term buy and hold investor, which is surely the type of approach the average Joe should take with their pensions savings. Is he appropriately qualified to give people retirement advice?

    Besides, I thought you needed some kind of qualification to act as a personal financial advisor. If so, does Cramer have it?

    I wonder what would have happened to someone who's 401(k) Cramer "fixed" in 2000?
     
  2. gms

    gms

    They've probably switched to Suze Orman.
     
  3. Yeah, but at least you get a live person to curse out, not some anonymous 5 letter fund symbol.
     
  4. Kudlow and Kramer are both total goofs and experienced people simply laugh at their commentary. Its like Channelling Dot Com or other fodder for the masses. Suzie is a brilliant world class economic genius next to K & C.

    Have you noticed how many of the commentators on CNBC are dummies ?

    Geeze I hit 50 posts, sorry for yapping so much.
     
  5. funny how "fodder for the masses" is always the other guy :p
     
  6. Both the program and its advertisers aim some of their material for traders, and some for the masses.

    Quote
    "Its like Channelling Dot Com or other fodder for the masses. Suzie is a brilliant world class economic genius next to K & C. "

    Channelling.com is the funniest, they show a 25 year old guy talking about his recent retirement. The early program with Mark is fine, but Kudlow and Cramer are a waste of space.

    Oh, and Long Shot, I wouldn't worry too much about daliddle's ability to get his money back, if you have ever met him in a traders room you will realize he doesn't need much help. I am of course biased, because he is a short specialist.
     
  7. Ebo

    Ebo

    Anybody else hate the new CNBC "Theme" music?
    They probably paid Tyler Matheson's son to write it for a ton of $.
    I can not watch these puppet heads and trade. I find it distracting. The classic CNBC is they will be hitting ES down 9 points and a commercial is just about over at 10:01. Ted David will say The FOMC announcement is imminent. This station is a waste.
     
  8. Ken_DTU

    Ken_DTU

    I've found that the best way to watch any financial tv show is with the volume turned completely down. :)

    I have not listened to a talking head since late 1999, and it's great that way. I focus instead on the Data and the Charts. They do all the talking I want to hear. I will watch finance channels in the premkt to see gap stock tickers and the nas prmkt futs values, that's it.

    "Just Mute It"

    The data, the numbers, are what counts. Scanning, looking at 52-week high/low breakouts for swingtrades, and 2d breakouts for daytrades, is much more interesting than hearing what talking heads have to say.

    Focus, based on data and facts, not on what talking heads say. It helps make things a lot clearer. The data and price action in charts has credibility, someone yapping on a tv show, does not.

    It can be entertaining though, if you're looking for a laugh (like some infomercials).


    ken
     
  9. I'll play devils advocate here and take up for J.C. :D

    My comments in Caps.

    "Re: Does anyone else find this scary?"

    NO.


    DO YOU KNOW WHAT "FIX" MEANS IN THAT CONTEXT? THAT IS HAVE YOU EVER LISTEND TO HIS SHOW OR BOTHERED TO READ HIS ARTICLES. FIX NORMALLY REFERS TO HIM TELLING SOMEONE SOMETHING LIKE "LOOK YOUR NOT REALLY DIVERSIFIED, YOU OWN LU, CIEN, NT, SUNW AND AMAT, THOSE ARE ALL TECH STOCKS AND LU, CIEN AND NT ESSENTIAL DO THE SAME THING, WHY DON'T YOU DO THIS...."

    CONSIDERING HE LEFT THE HEDGEFUND BUSINESS EXPLICITLY BECAUSE HE CLAIMED TO BE BURNED OUT AT BEING "PIEGEONHOLED" (SP?) INTO WRITING SHORT TERM STUFF BECAUSE HE FELT LIKE THAT WAS WHAT READERS EXPECTED AS LONG AS HE WAS AT THE HEDGEFUND, MY GUESS IS THAT PERSONS 401K LIKELY DID PRETTY WELL. DO YOU THINK IT WOULD HAVE DONE WORSE THAN THE MARKET? WHY? BECAUSE EVERYONE DRAGS OUT THE ARTICLES HE WROTE ABOUT LOVING A BUNCH OF DOTCOMS BACK IN THE DAY.

    I'VE SAID IT BEFORE AND I'LL SAY IT AGAIN, NOBODY MANAGES REAL MONEY (NO PUN INTENDED) FOR 19 YEARS IN A ROW IN A PERFORMANCE BASED ENVIRONMENT (HEDGEFUNDS) WITHOUT KNOWING WHAT THEY ARE DOING.



    :eek:
     
  10. Of course I find this very scary....."...buy and hold investor, which is surely the type of approach the average Joe should take with their pension savings.'

    That is so damn absurd, my usual response (even on the radio show) is..."buy and hold....THIS!"......The moronic buy and hold advice givers deserve the extra scrutiny that they are receiving now.

    NAZ = 4500, buy....Naz = 3500, lbuy or hold, Naz=3,000, buy or hold, Naz = 2500, buy or hold hold, Naz = 2,000 (Margin calls, have to sell).....Naz = 1400 (forget it, I am broke, looking for a job at Walmart as the greeter).

    Or, buy (damn) sell....sell more.....buy back, trade the market to at least avoid the the thousand point moves for Gawd's sakes people.

    I'm not talking BT here...I'm talking all you Schwab(ies) and Merrill's.....stay away from all those damn "CFA's" and other "know it alls" who are stealing commission money from investors...


    Don
     
    #10     Nov 2, 2003
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