James 'Winners of the New World' Cramer: "Better Have 5 Years of Cash on Hand"

[RussellDaytrade]

Quote from vhehn:

i will bet you $100 bucks that cramer issues a buy call again sometime this year.

he'll do it within a week


anyhow, he is a 'flame-fanner', nuthin new about that, it is to be expected as part and parcel...


buy 'em at the highs, then sell 'em at the lows, and then buy 'em again higher than you sold them, that'll be the full-circle version.

and as far as his 'five-year plan', watch him chnage that to, 'you gotta buy buy buy, for the next five years!

 

[gnome]

Quote from vhehn:

i will bet you $100 bucks that cramer issues a buy call again sometime this year.

He DOES appear to understand the "1st Principle of Forecasting"... FORECAST OFTEN!

 

[Free Thinker]

Quote from gnome:

He DOES appear to understand the "1st Principle of Forecasting"... FORECAST OFTEN!

this is why he capitulated:

Action Alerts PLUS contains Mr. Cramer's own opinions 2008 YTD Return -28.05%

Total Average Return 0.72% The Total Average Return figures reflect changes since 1/1/2002.

 

[gnome]

Quote from vhehn:

this is why he capitulated:

Action Alerts PLUS contains Mr. Cramer's own opinions 2008 YTD Return -28.05%

Total Average Return 0.72% The Total Average Return figures reflect changes since 1/1/2002.

No surprise there... We all knew his prior success was due to Linda's picks or his willingness to pay high commissions to be notified of analysts recs before made public, according to some.

 

[gaj]

it's hitting mainstream press:

http://www.nydailynews.com/money/2008/10/06/2008-10-06_no_bull_jim_cramer_says_get_out_of_stock.html

i've posted elsewhere on ET, but here's the basic thing with cramer:

he'll be basically a coin-toss, a dart-throw, etc. on most of his specific picks. his GENERAL comments on how to look for stocks (which aren't time sensitive) are fine.

however...when he takes a long held position, and all of a sudden switches in a seeming panic, THAT marks an excellent counter trade.

'98, he was buying bottoms until his infamous sell. '00, he did his winners of the new world. sometime later, he did his fabulous five or something which marked within a short time the top of TASR.

he's done it time and again, and i suspect this one will be *A* bottom. does it mean THE bottom? i have no idea. nor do i need to.

but i do know cramer's track record when he switches long-held positions....and it's absolutely wonderful as a contra indicator.

 

[gnome]

Quote from gaj:

"... but i do know cramer's track record when he switches long-held positions....and it's absolutely wonderful as a contra indicator.

Must have learned it while at GS. Today they downgraded FSLR to sell.... It had topped at 310, dipped to 130 = SELL .. Yea!

 

[ByLoSellHi]

Quote from Lucrum:

The same way imbeciles like you get on ET?

And no I don't like Cramer.

I'm sorry I hurt your vagina and feelings in the politics forums debating you.

Both will heal soon.

Quote from gnome:

He DOES appear to understand the "1st Principle of Forecasting"... FORECAST OFTEN!

Is the '2nd' 'and wrong?'

 

[Free Thinker]

Quote from vhehn:

this is why he capitulated:

Action Alerts PLUS contains Mr. Cramer's own opinions 2008 YTD Return -28.05%

Total Average Return 0.72% The Total Average Return figures reflect changes since 1/1/2002.

update to reflect yesterday: 2008 YTD Return -30.64%
Total Average Return -2.9%

almost seven years and no gain.

 

[Stok]

cramer nailed the bottom here...he did the same thing in 97 or 98 on tech bottom/crisis.

nbc/msnbc/and cnbc should take his crap off air!!

 

[gaj]

thanks vhehn!

i did checking, and the action alerts portfolio which was scrapped in 2001 (reset in 2002) was down 17.9% that year.