CNBC - Cramer's Mad Money
- Thread starter LaSalle
- Start date
I made the mistake of PAYING for his action alerts.
Lets see, down about 30% on Symbol, 25% on Lucent, 25% on Tyco...................... Why was I paying for this guy to screw me out of money?
I am fascinated with his past, mainly his hedge fund days, his first book Confessions of a street addict was pretty good, for the stories, but this second book is a joke. I had to stop reading it after I got 1/4 of the way into it. He spends most of the pages telling you how he is going to TEACH you how to pick stocks, blah blah blah but he never really says anything worthwhile. He tells you to use limit orders and not market orders. Great, thanks Cramer, I appreciate the help for $25.
As a student in business school his past and stories he has to tell about it are cool, but his show is almost embarrassing to watch. His action alerts performance is junk. A good person to look up to and aspire to experience half of what he has but i wish he would have quit while he was ahead.
Lets see, down about 30% on Symbol, 25% on Lucent, 25% on Tyco...................... Why was I paying for this guy to screw me out of money?
I am fascinated with his past, mainly his hedge fund days, his first book Confessions of a street addict was pretty good, for the stories, but this second book is a joke. I had to stop reading it after I got 1/4 of the way into it. He spends most of the pages telling you how he is going to TEACH you how to pick stocks, blah blah blah but he never really says anything worthwhile. He tells you to use limit orders and not market orders. Great, thanks Cramer, I appreciate the help for $25.
As a student in business school his past and stories he has to tell about it are cool, but his show is almost embarrassing to watch. His action alerts performance is junk. A good person to look up to and aspire to experience half of what he has but i wish he would have quit while he was ahead.
Don't forget Forest Labs...........sh-t....I must say once again I'm tired of hearing about his hedge fund days where he made $700milion.
I e-mailed him once quizzing him (respectfully) about his very average performance over the last 3-1/2 yrs on his AA Portfolio. I received a blistering reply telling me to short his (sh-t) and "good for you- you calculated by return!", and a host of other profanities. It was hilarious - he's an easier target than a two-year-old.
He occasionally hits some good ones, but then again a broken clock is right twice a day.
If one were to "gauge" the market only by Cramer's stock / sector selections on his show; one would think the economy passes through three or four business cycles per week.
One day the data is too good and the Fed may need to increase the pace of tightening:
Cramer: "Oh no. The financials are not for me. Not with the Fed bent of destroying the economy" [insert childish bear graphic and sound here].
The next day the data comes in lighter than expected:
Cramer: "Oh baby! We're going to make you some mad money! Buy the financials! Buy the homebulders! Buy everything sensitive to interest rates! Goldman Sachs is my favorite pick."
Two days later, Goldman is down 3%:
Cramer: "Nope GS is not for me. I like Bear Stearns".
A day later some positive data is released and interest rate expectations tick higher:
[insert goofy echo chamber "sell sell sell" sound here] after Cramer is asked his opinion on the financial sector by a caller.
One day the data is too good and the Fed may need to increase the pace of tightening:
Cramer: "Oh no. The financials are not for me. Not with the Fed bent of destroying the economy" [insert childish bear graphic and sound here].
The next day the data comes in lighter than expected:
Cramer: "Oh baby! We're going to make you some mad money! Buy the financials! Buy the homebulders! Buy everything sensitive to interest rates! Goldman Sachs is my favorite pick."
Two days later, Goldman is down 3%:
Cramer: "Nope GS is not for me. I like Bear Stearns".
A day later some positive data is released and interest rate expectations tick higher:
[insert goofy echo chamber "sell sell sell" sound here] after Cramer is asked his opinion on the financial sector by a caller.
Guys,
I really do not understand what's all this fuss about this Cramer. It's a show! By definition, shows are entertaining, something to amuse and excite people. We are traders, right? Or at least, we're trying to be. A trader doesn't listen to anybody but him/herself. So why getting all worked up about this guy? CNBC needs something to grab people's attention (like everybody else in their business), and in my opinion Jim Cramer is pretty good at that. Do you really believe that most of the people want to make money in the market? I really don't think so. They want to be thrilled, entertained, excited, and Cramer delivers just that. Who cares if he's right? Who cares if he's wrong? Nobody does. Making money in the markets requires a lot of studying, and nobody likes to study. It's too boring. Cramer is anything but boring, and people like that. Besides, if he's bringing more liquidity to the markets, by all means let him talk. A fool and his/her money deserve to be parted.
That's the way I see it.
I really do not understand what's all this fuss about this Cramer. It's a show! By definition, shows are entertaining, something to amuse and excite people. We are traders, right? Or at least, we're trying to be. A trader doesn't listen to anybody but him/herself. So why getting all worked up about this guy? CNBC needs something to grab people's attention (like everybody else in their business), and in my opinion Jim Cramer is pretty good at that. Do you really believe that most of the people want to make money in the market? I really don't think so. They want to be thrilled, entertained, excited, and Cramer delivers just that. Who cares if he's right? Who cares if he's wrong? Nobody does. Making money in the markets requires a lot of studying, and nobody likes to study. It's too boring. Cramer is anything but boring, and people like that. Besides, if he's bringing more liquidity to the markets, by all means let him talk. A fool and his/her money deserve to be parted.
That's the way I see it.