Cramer has been on the right side since the start of IRAQ war. He called for 9500 earlier this year, and now he is calling for 10000 by end of this year, unless rates spike over 5% His buddy Kurlak posted on the realmoney.com website last October 2002 that semiconductors and wireless had bottomed, and recommended buying. He recommended adding more earlier this year. SOX is up over 100% since then. Kurlak has target for INTC of $45 before the end of this up cycle. Ride the crazy insane momentum, or get out of the way!
Cramer trades his own multi-million dollar account and is up 26% on that money this year and is being called a hack. Oh brother. 14 years as a profitable hedge fund manager and he can't pick stocks? I would like to see one person ripping Cramer on this site who makes more money trading stocks. Note the more money. Not someone who is up 100% this year by turning 5k into 10k but someone who makes more money trading. There's not that many people out there. But he can get annoying, so I understand why people don't like him.
that is correct, he can't pick stocks. here's what it boils down to: cramer is great at getting talented people around him. if you read cramer's book (confessions), you'll see where he sells out at bottoms...and the thing that saved his firm was NOT him but his wife. he was selling...and, of course, his famous "winners of the world" was a classic example of buying at the top (link at: http://users.sedona.net/~bemond/winners.htm ). you'll also find out that he would pay high comissions to get information, then buy those stocks... here's an article from realmoney where cramer states very clearly that he can't pick stocks well (longer term) and how he does it (short term). http://www.thestreet.com/_tscs/comment/wrongrear/867444.html pertinent quotes: "I think you can invest better than I can. I don't think you can trade better than I can. In fact, I think I can out-trade you on most stocks, given that I get a call from every brokerage house and you don't." note that this was when cramer was still at the hedge fund. once he decided to run his AA portfolio (which he then 'cancelled' the first one when it was underperforming), of course, he became a genius *cough* on longer term investing. i was once a subscriber at realmoney, and cancelled because i couldn't stand giving money to someone who was so wrong, and rarely admitted it. before that point in time, i thought he was good. fortunately, i never lost any (big) money by his stock picks.
but here's another beaut: http://www.itulip.com/awards.htm (dates that are listed as january are really december, of 2000.)
Both of these guys are of the VERY SAME ILK. ALL marketing, FULL of hot air, and ZERO stock-picking ability. Also known as: AFZ ( All Full of Zeros! ) Period.
Jimmy Rogers has been so right for so long ... loaded up on QQQ and Japan earlier this year. Just a continuation of a career of investment brilliance. Guaranteed he made more while travelling for the past three years than anyone hanging around on ET. Don't even mention the C***** guy in the same sentence. One of my favorite lines from Roger's 1989 interview w/ Schwager in Market Wizards: "I guarantee that the Japanese stock market is going to have a major collapse - possibly within the next year or two. Many of our stocks are going to go down 80 to 90 percent in the bear market. A lot more of theirs are going to go down 80 to 90 percent. Short Japanese stocks, short Japanese indexes, short Japanese calls, buy Japanese puts ... " And of course only now is he buying!
Jimmy Rogers always has some great comment as "I am short Russia", LOL, what a crock. I have never heard him pick a single stock traded on some exchange that someone could actually track. He is always going on about some esoteric commodity in some third world country. All he needs is a big red rubber nose, a horn, a squirting flower and the outfit would be complete. Steve
Must be on his payroll ... Bottom line, if you don't appreciate the fact that Cramer will turn your millions into thousands & thousands into hundreds, then you weren't around over the last several years... Just because Cramer was right this year doesn't mean you would've made money following his calls....he POUNDED THE TABLE on the Nasdaq at 5000 (he said it would blast above 6000), right before the begining of the collapse....he pounded the table at Nasdaq 3000 on the way down ... he pounded the table at Nasdaq 2000 on the way down...
I admit Cramer is annoying at times and I think he's a closet republican that is little more than Kudlow's yes man on their show....BUT I've run part of my equity portfolio based on his service and last year I beat my index holdings by 3.8% and this year I'm ahead by 12.6% after commissions and dividends. I have done nothing more than mimic his trades and followed recommendations he's restricted from following. His published returns are misleading because you get to buy ahead of him and he gives advice he can't trade on due to his restrictions which understates his performance. So at least for the last year, he's been doing quite well. The only drawbacks to his service is that he's pretty active, but I'm already in front of my screen trading anyway so slipping in his trades is not a problem. I wouldn't be surprised to see him go through a cold spell, but I'm pretty happy so far. Shreddog