still don't like Cramer...

Discussion in 'Trading' started by mjh, Nov 14, 2006.

  1. Uhmm...not really...

    All he said was "take a little off the table..."

    That does not constitute SELL EVERYTHING NOW. In fact, here is his famous "Winners of the New World" from Feb '00. Cramer is no better than a monkey (and may be worse). Not his fault, it's a tough game...

    Click here for the latest from James J. Cramer.

    You want winners? You want me to put my Cramer Berkowitz hedge fund hat on and just discuss what my fund is buying today to try to make money tomorrow and the next day and the next? You want my top 10 stocks for who is going to make it in the New World? You know what? I am going to give them to you. Right here. Right now.

    OK. Here goes. Write them down -- no handouts here!: 724 Solutions (SVNX:Nasdaq - news), Ariba (ARBA:Nasdaq - news), Digital Island (ISLD:Nasdaq - news), Exodus (EXDS:Nasdaq - news), (INSP:Nasdaq - news), Inktomi (INKT:Nasdaq - news), Mercury Interactive (MERQ:Nasdaq - news), Sonera (SNRA:Nasdaq - news), VeriSign (VRSN:Nasdaq - news) and Veritas Software (VRTS:Nasdaq - news).

    We are buying some of every one of these this morning as I give this speech. We buy them every day, particularly if they are down, which, no surprise given what they do, is very rare. And we will keep doing so until this period is over -- and it is very far from ending. Heck, people are just learning these stories on Wall Street, and the more they come to learn, the more they love and own! Most of these companies don't even have earnings per share, so we won't have to be constrained by that methodology for quarters to come.

    There, now that that's done with, can we talk about the methodology that produced those top 10 so that you can understand how, in a universe of a gazillion stocks, we arrived at those, so you too can figure it out? I hope we can because I have another 10 and still another 10 and another...
    #21     Nov 20, 2006
  2. Yes, we all know (or should know) about risk management. But do you think everyone does? Cramer does not take in perspective that people with nothing (sometimes less than nothing) see his show, get hyped up, and follow what he does. It goes the wrong way, what does Cramer do? Says sorry and puts a piece of paper on his head. While those people are out dough. He is just as bad as those fly by night get rich quick infomercials at night. Only showing the up side, not the down side. Does he make good calls, yea, sometimes with the obvious. Every dog has his day...
    #22     Nov 20, 2006
  3. hels02


    I never saved a copy of the Street (who would) from that time, nor could I access it now if it were even available.

    I can't recall the date in 2000, but he said he was in a 70% cash position. It was so ludicrous at the time that it was notable.

    The reason it stuck in my mind is because after losing roughly 80% that year after walking away from the market without liquidating my positions (Enron, MCI, Lucent, Global Crossing, Loral among them), I could recall that he was the only one recommending being in cash, when it was completely not obvious to anyone else.

    Regardless, I didn't say he was accurate now. I have no idea, I don't watch him. I was just suggesting that this may be why he still has a devoted following.

    As for people buying everything he recommends... everyone knows that he often moves the market, I'm not sure you can pin the blame on him rather than the lazy buyers who don't do their own due diligence.
    #23     Nov 20, 2006
  4. There for a while Cramer was a major part of my swing trades. I would short his picks the next day after they climbed .5% or so and buy them back in 2 to 3 days after they dropped a percent or so. It was nickels and dimes but steady money. I would use some common sense and not short the obvious trending stocks, just his hot picks. SHLD would retrace just about every time he mentioned it.
    As far as anything new from his show it ain't goin to happen, it's just more of the same regurgitated stuff from CNBC.
    #24     Nov 20, 2006
  5. That 'Booyah!" shit got old after the first month. Dave Chappelle knew when to quit saying "I'm Rick James, Bitch!", and South Park knew when to quit killing Kenny.

    <b>A real entertainer knows to keep it fresh, without harping on the same old tired catch phrases.</b> When I hear yet another stuttering or little kid booyah, I instinctively reach for the remote.
    #25     Nov 20, 2006
  6. I do know about SHLD, I still think it is worth it and it will go higher, with or without Craper. Lampert knows what he is doing, just no one else does. :\
    #26     Nov 20, 2006
  7. Wow 1000 trades to not beat the passive indexed market- think about that! I guess that's the main argument against him-- he likes too much. I was reading a financial blog that looks at his trades & from one show " 3 Risky Plays " or something-- all 3 are down! and the poor amateur investors get creamed. He made a nice call on ABB an nuclear play that I bought and dumped- my bad; but he killed me with Birch Mtn Resc. I try like hell not to listen but every now and then... I get weak.
    I saw someone mention they used to get RealMoney for free-- welcome former Harris Direct Customer! How do you like ETrade? In RealMoney I really respected Helen Meisner I wish I could break her away from there. Also Dan Fitzpatrick is cool he mentioned in an e-mail to me that he's starting his own service soon with more of his own ideas. Right now he's taking a lot of viewers stocks which does me no good.
    Someone else mentioned ISLE & Kramer Oh no! That's one of mine! What's Kramer's take? Do you all know about the bid they have in overseas-- one of three possible winners and that one of the past great gaming analysts I think it's Johnethan Adler-- my mind is going now, just got stoned-- he's in it for sooooo much stock. I smell a winner Kramer or not!
    #27     Nov 20, 2006