"I will pay back our parents after we win the lawsuit (lawyer said out of court settlement of maybe 90% of our damage claim of $450 million is a reasonable estimate for our suit.)"
WTF? Did this person risk a couple billion?
Something about watching a guy who looks like he snorted a line before going on the air to talk finance is pretty darn entertaining.
ebaydotcomz
Member
posted: Aug. 16, 2005 @ 11:26p
the lawyer is talking smack...at least he makes money from legal fees..this guy is getting suckered twice...wow...ridiculous
jocktheglide
Member
posted: Aug. 16, 2005 @ 11:27p
oh yeah he is getting suckered in for sure what a doof he expect to get 450 million from what losing 1k?
rhythmwaters said: "I will pay back our parents after we win the lawsuit (lawyer said out of court settlement of maybe 90% of our damage claim of $450 million is a reasonable estimate for our suit.)"
WTF? Did this person risk a couple billion?
Something about watching a guy who looks like he snorted a line before going on the air to talk finance is pretty darn entertaining.
you think that's funny, check out the podcast on www.indieanalyst.com
it's a few guys talking stocks, sounding like they are smoking a bong and yelling at someone named Hilda for getting them drunk with free drinks.
jocktheglide
Member
posted: Aug. 17, 2005 @ 1:30a
I wonder though if the stock he recommends and people guys and gains do they give him any percentage for the gains? So why should a consumer who has lost money sue him for their losses since in turn if they gained they wouldnt give him any.
About 15yrs ago, when Tv was where people got their "investments ideas", one of the main sources was "Louis Rukeyser's Wall Street". To try and profit from the unsophisticated, I devised a plan: Four days before the show would air, I would call CNBC and ask for the names of upcoming guests on the show (after awhile, they simply put me on their mailing list and I just got the info by snailmail). With the info in hand, I called their respective investment firms, and simply inquired what stocks they were recommending their clients. The plot: Buy the stocks the last business day before the show, sell on close the first trading day after the show or the following morning. Of course, yours truely sat tight watching the show praying that the guests would mention the stock - over 90% of the time, that's exactly what they did, and soon the plot turned to practice.I would've loved to tell you of the fortune I made but alas, at times the stock simply did not respond, at other times overall market conditions caused it to decline, and when the expected pop up did occur it wasn't really large enough (remember back then, no direct access and super fast execution - all was done by phone). This story I hope, illustrates how professionals approach "advice" regardless of source. Good luck, and if you trade...I'll see you at the dance.
Cramer is much more entertaining. Watching Rukeyser is like watching paint dry. Plus people on his show speak in tongues, and Cramer speaks in English. I picked up a few tid bits from Cramer and with other reading can understand a lot more things than a few months ago. Lou Dobbs is useless. Bloomberg is boring. Squakbox is pretty good but sometimes they don't explain why things happen. The saturday FOX business shows are also OK, but sometimes the people there pump the weirdest stocks. They also have the chartman, but they don't care to explain that charting usually only works in up markets.
The one thing that people don't understand is that Cramer is from Wall Street. Unless he personally knows the company or the industry all he is hyping is good numbers from IBD and their rankings. Unlike other newspapers they keep records of earnings growth and rank companies based on it and other factors like ROE. Cramer looks at the numbers and tells you who is best of breed. He also does a lot of research and sometimes this comes out in the little details he knows about different companies like drug pipelines, the type of cosmetic lasers they sell, etc. Of course sometimes things change and the best of breed gives up that position to a competitor, but this won't become evident for several months or years.
fixfox69 said: About 15yrs ago, when Tv was where people got their "investments ideas", one of the main sources was "Louis Rukeyser's Wall Street". To try and profit from the unsophisticated, I devised a plan: Four days before the show would air, I would call CNBC and ask for the names of upcoming guests on the show (after awhile, they simply put me on their mailing list and I just got the info by snailmail). With the info in hand, I called their respective investment firms, and simply inquired what stocks they were recommending their clients. The plot: Buy the stocks the last business day before the show, sell on close the first trading day after the show or the following morning. Of course, yours truely sat tight watching the show praying that the guests would mention the stock - over 90% of the time, that's exactly what they did, and soon the plot turned to practice.I would've loved to tell you of the fortune I made but alas, at times the stock simply did not respond, at other times overall market conditions caused it to decline, and when the expected pop up did occur it wasn't really large enough (remember back then, no direct access and super fast execution - all was done by phone). This story I hope, illustrates how professionals approach "advice" regardless of source. Good luck, and if you trade...I'll see you at the dance.
Looks like I am going to have to Tivo Cramer's show just to see what all the fuss is about!
OLEOLEOLEO
Member
posted: Aug. 17, 2005 @ 4:11p
I would believe the Rukeyser story except that his show was on PBS for 32 years until he moved to CNBC in 2002.
manuel
Greedy Member
posted: Aug. 17, 2005 @ 4:16p
teplitsa said: Cramer is much more entertaining. Watching Rukeyser is like watching paint dry. Plus people on his show speak in tongues, and Cramer speaks in English.
Agree that Cramer is energetic and entertaining - but I much preferred Rukeyser. And I think the booyas and interplay on cramer is much more akin to tongues.
kpc88
Senior Member
posted: Aug. 18, 2005 @ 2:00p
I do believe the Rukeyser story. I once read a study someone did of the companies recommended on Wall Street Week. It was obvious from the study that someone was buying the stocks several days before and selling them at a peak on Monday. I always wondered how people knew beforehand and fixfox69 gave a plausible explanation, other than confusing CNBC with PBS.
cramer's an idiot. he's wrong 60% of the time. he'll give a buy recommendation one week and a sell recommendation the next on the same stock after it plummets.
i'm betting that cramer and his boyfriend greenberg manipulate stock prices to either profit themselves or for their hedge fund batty buddies.
Two weeks ago he was pushing the tech rally and move on back with cisco. Today he sounding the alerts .. dive dive dive for csco
He also changed his opinion on energy stocks and crude today. Everytime I watch his show his credibility drops a little more each day. But I still enjoy watching the show and listening to the call-ins just to see what people are interested in. Even though those callers are probably pre-screened for specific areas cramer would like to focus on.
so you are saying that he is not allowed to change his mind on winning sectors? Oil and housing stocks took a dive over the last week. Most of his oil stocks are up 10% - 20% over the last few months. People think they are topped out and there is a correction going on. A lot of people think that oil is on it's way down to big losses.
No, I'm not saying the man can't change his mind on a sector but he has the most awful luck when it comes to announcing on air what he believes will go up or go down the next day. Thursday he was saying get out of oil and the energy stocks. Today oil and energy is up, lol he can't win for losing.
Now he is once again touting goog on mad money and friday on cnbc power lunch. You never know what motivates someone like him, maybe all his picks are based on what his hedge fund , fund manager friends need him to say?
I still watching the guy on tv though, they broke the mold when they made him.
why not to short sell on every thing cramer says, if we believe he is wrong most of the time.
manuel
Greedy Member
posted: Aug. 19, 2005 @ 4:49p
It's not a either/or kinda game. If one doesn't believe he knows what he's doing there's no reason to assume one can make money betting against him.
FarmerOak
Senior Member - 1K
posted: Aug. 19, 2005 @ 5:32p
manuel said: It's not a either/or kinda game. If one doesn't believe he knows what he's doing there's no reason to assume one can make money betting against him.Right. If he was ALWAYS wrong, then he'd be incredibly useful for obvious reasons. If he's a crap shoot, then he's worth nothing to anyone.
lookingdeals said: No, I'm not saying the man can't change his mind on a sector but he has the most awful luck when it comes to announcing on air what he believes will go up or go down the next day. Thursday he was saying get out of oil and the energy stocks. Today oil and energy is up, lol he can't win for losing.
Now he is once again touting goog on mad money and friday on cnbc power lunch. You never know what motivates someone like him, maybe all his picks are based on what his hedge fund , fund manager friends need him to say?
I still watching the guy on tv though, they broke the mold when they made him.
Cramer is not for daytraders. He thinks oil topped out for the near future and is due to drop. The fact that it goes up you have to look at the volume of the stocks and compare it to the last few months. A lot of time stocks will go up after a huge drop because of people who think it's just a dip. Look at Wal Mart, on it's way down there were plenty of up days.
I kept track of some of his mentions and overall it's not bad. The trick is you have to diversify, and not buy the day after he mentions it. Pesonally I'm also looking at Google. The reason they dropped is concerns on how they are going to make money of all the cool things they are working on. Their expenses are rising faster than revenue growth. There was an analyst on Squakbox this morning who finally got Google right and that they aren't a media/advertising company.
Anything Cramer picks is usually for a 1 year hold most of the time. Cramer gets his picks from IBD and the top performing sectors that institutional investors are accumulating. IBD even tracks if a stock is being accumulated or not. The trick is that sometimes a sector tops out and money starts flowing into lower performing sectors or into stocks that are thought to be the future winners and the current A list stocks underperform. The risk is if you invest at the top. Too bad a lot of people get carried away with emotion and invest on it.
One difference between Cramer and IBD is that the latter says you should only buy on strength to minimize risk. Cramer likes to buy on weakness when he thinks long term it's a winner over 1-3 years. IBD says never average down. Cramer likes to average down even if he takes losses for a few months. Cramer is good if you learn some basic technical analysis and wait to buy his stocks since many of them are trading too high to buy when he mentions them.
Ffej207
Member
posted: Aug. 20, 2005 @ 12:32a
The Forbes article on his influence on stocks is pretty good.
It says something about while mentioning Dick's Sporting Goods, it traded 300,000 shares between 6:00 and 7:00. Cisco, for example, traded 12,000 shares during the same time period.
I think it's probably best to watch his show and get two things out of it:
1)Entertainment - face it, that much energy is addictive 2)Broad knowledge and/or news - what other people are interested in and what is going on
Take this with a grain of salt too, as I have never purchased stock.
TonySpero
Senior Member - 1K
posted: Aug. 20, 2005 @ 1:24a
Ffej207 said: I think it's probably best to watch his show and get two things out of it:
1)Entertainment - face it, that much energy is addictive 2)Broad knowledge and/or news - what other people are interested in and what is going on
I am up better than 75% since his show first aired due to his picks in a short 5 months. I purchased my first stock at age 15, some 40 years ago. I am no where near worth the 50 million that Cramer is worth, but have done quite well. A LOT better than investing in real estate!
The real entertainment is some of the posts made in this thread. From some of these posts I can really see why MOST people lose money in the market.
On page 115 of his book Real Money, is a "Cyclical Investing & Trading" chart. This thing is right on the money! I found a simular one about 30 years ago (not as good as his), and for the past 30 years my overall average has been 23% per year.
For all you Cramer na-sayers; When Cramer makes a mistake he will admit it on his show. I have NEVER seen an investment adviser, broker, talking head or what ever you wish to call them, admit when they are wrong on a television show.
the difference is that when cramer first came on in march that was when the stock market rally just started. A lot of people are ticked off at him because the recent picks have been made right before a correction which is normal because stocks outran the fundamentals. For the short term the market is looking for direction and can go either way this is why he is into defensive stocks now. Longer term is the same.
but that is the best thing about him. He will tell you why certain stocks are good investments at times because he has been around long enough to see a bunch of economic cycles pass.
fatterthebetter
Member
posted: Sep. 12, 2005 @ 9:28a
In reply to the posting - "cramer's an idiot. he's wrong 60% of the time. he'll give a buy recommendation one week and a sell recommendation the next on the same stock after it plummets."
Your perceptions are not based on facts. You have obviously not done your homework...
I quote from a recent newspaper article - "he managed a hedge fund for wealthy families that produced a 24 percent average return after fees for 15 years." 24%...15 years... that is beyond outstanding
"According to a compilation provided by CNBC, the 21 "picks of the week" Cramer has made since April rose an average of 6.24 percent, about DOUBLE the rise in the Standard & Poor's 500 index and slightly less than the small-stock S&P 600 index during that same period."
As for us, our portfolio is now averaging a 30+% return from listening to him AND doing our own research. Stock investing is not for the uninformed or the impatient. You have to be plugged in, realistic, follow the market closely yourself and be flexible.
It's noted from most of the critical postings here on Fatwallet about Cramer that many have little experience with investing in stocks. No wonder they are trashing Cramer. It's like someone being critical of swimming because they don't know how or have the patience to learn.
Don't just jump on a stock he suggests. He may suggest a stock one day and tell you to avoid it the next week due to industry, co. variables that may crop up. He has no control over that. The market is fluid. Things change, which the advantage he has is alot of industry/sector experience in the trenches. Why not utilize that knowledge?
DO YOUR OWN RESEARCH THOUGH. Keep in mind that stock investing is not for everyone, especially for those with less than $10k to invest in a diversified portfolio of stocks to balance their risk or for the impatient. If you have neither, let a fund manage your money by all means.
Cramer moved a stock almost 3 million shares in after hours today. He hyped some chip stock that ended at the high end of 5 million shares traded today. It now shows almost 9 million shares traded. Almost 3 million shares in after market. And it's up like 25% in after market.
sla0011
Member
posted: Sep. 20, 2005 @ 2:29a
I just saw this guy's show for the first time today (first time in years to have cable) this guy is a rodeo clown. Whats he doing on CNBC the only place people like him belong on tv are reality shows and jerry springer.
P.S. What would the offspring of Jim Cramer and Suze Orman be like?
Fly01
Senior Member
posted: Sep. 20, 2005 @ 10:16p
I watched him 2-3 times, and was positively EXHAUSTED each time. Just can't do it again...
say whatever you want about him, but in tomorrow's Investor Business Daily there is a picture of him helping build homes for Katrina victims with Donny Deutsch. He is actually building the home, not doing a photo op.
anyone still watching him? I haven't watched the show in months. I got tired of every stock that he mentioned being bought up in after hours or having risen 30% in the prior month and due for a correction.
fatterthebetter
Member
posted: Dec. 28, 2005 @ 9:44p
Haven't either. We downgraded to basic cable. Can get transcripts of his show off his website. Glad that we invested in Google back when he was pushing it to go to the heights it's at now.
kewldealspdx
Addicted Member
posted: Dec. 28, 2005 @ 9:45p
I just watched him yesterday for the first time and I have to say I'm quite impressed with the way he admits failures. For all those cramer nay-sayers let us face the fact. No one can accurately predict 100% how a particular stock will move or industry will move or heck the market will move. So he is doing his best. He is definitely much better than some radio shows where they ask the callers to call in with their ticker symbols and within 4 seconds say buy, hold or sell. I'm going to continue to watch him and do my own DD before buying any stock recommended by him.
there is a little blurb on thestreet.com about madmoney. It says that Cramer has recommended 2000 stocks since the show started almost a year ago. I think he is well on his way recommending every traded stock over the next few years.
kewldealspdx said: He is definitely much better than some radio shows where they ask the callers to call in with their ticker symbols and within 4 seconds say buy, hold or sell.Cramer does that on his radio show, only with stock names instead of symbols. The first 15 minutes of that show are probably worth the listen.
kewldealspdx said: I just watched him yesterday for the first time and I have to say I'm quite impressed with the way he admits failures.Cramer is a self-promoting carnival barker. He never admitted this failure, imploring people to put their money into fledgling "new economy" companies right at the peak of the bubble, a bubble that he bought hook, line and sinker. Those who invested in these "winners" have lost over 90% of their money.
cirrus said: You know what I realized? Cramer does this idiotic thing where he'll trash a stock, then two weeks later-with no actual changes in the fundamentals or market-he'll declare it a real winner
Look no further than his trashing of the number 2 computer chip maker and the hyping of the number 1 chip maker, now he's reversed course and is giving triple sells on #1, and triple buys on #2.
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