October 7, 2008
Booyah or Boohoo? What to Make of Cramer’s Panic
Jim Cramer: Time to get out of the stock market
“I thought about this all weekend. Whatever money you may need for the next five years, please take it out of the stock market right now, this week. I do not believe that you should risk those assets in the stock market right now.”
Not sure if it will mark *the* bottom, but surely this marks some kind of major bottom (assuming there is a just God, lol).
Cat: | Time: 12:10 pm (utc+8)
October 7th, 2008 at 9:39 pm
I tried watching this guy’s show a couple of times. But after hearing teenagers calling with their “Big b-b-b-booyahs!” I had seen enough.
The guy is just downright criminal, possibly even evil.
October 7th, 2008 at 10:43 pm
I dunno. Cramer’s got a lot of years under his belt and has seen an awful lot, so I gave him the benefit of the doubt for a long time.
But he’s such an overdramatic panic mongering drama queen that I can’t listen to him any more. If he’s actually serious in his tirades, he needs help. If it’s for the camera it’s worse.
There’s much more sober, reasonable advice, information and guidance out there.
October 8th, 2008 at 12:00 am
cramer’s action alerts portfolio:
2008, -30.6%
from 2002-2008, -2.9%
and the “scrapped” action alerts portfolio from 2001: -17.9%.
October 8th, 2008 at 1:21 am
Just a couple points and thoughts on Mr. Cramer
How tall is Cramer? He looks no taller than 5′5.
Cramer’s “Confession of a Street Addict” was very entertaining. Worthy of a read no matter what you think of him. And if you want a 3rd person perspective on Cramer in his trading days, you should also read Nicholas Maier book, Trading with the Enemy, who was a former trader for Jim.
Jim Cramer is a very intelligent man. People who graduate magna cum laude from Harvard and who worked for Goldman Sachs are very sharp. His actions and words that the public hears are carefully thought about and not spontaneous. Even though Cramer no longer runs a hedge fund, I’m sure he still has money tied to one or more and uses his “pull” to help influence the market. When Jim is calling for a bottom, he wants Joe Dummy to be buying and when he tells everyone right now to sell, its because the Hedge Funds and Mutuals are buying right now and need someone to sell to them. Liquidity is important when you’re a player on the street.
The parody’s about Jim Cramer on WallStrip are freaking hilarious!
October 8th, 2008 at 1:39 am
he’s a couple inches shorter than the chairman.
confessions is one of the best financial books. and cramer’s smart, yes. but he’s not THAT smart, and he really doesn’t have many friends on the street. as stated in the book, he’s way too emotional.
October 8th, 2008 at 5:23 am
I’m not sure what lessons I learned from “Confessions” other than that Yahoo message boards are useful for picking tech stocks and when your hedge fund is about to go bust, turn over the trading decisions to your wife who will average down and get lucky. Genius is a rising market. Cramer capitalized on a secular bull market.
I’m sort of coming around to agreeing with KC Trader’s analysis that Cramer’s misguided calls are really machinations to help the hedge funds. It’s just the ecology of the markets at work. This is Cramer hitting another mini-bottom: http://www.thestreet.com/story/10426463/1/cramer-the-danger-is-immense.html
Then, he called a bottom, which turned out to be a “top” in the market, about 2000 points higher in the Dow. And now we are supposed to sell enough stocks to live on for the next 5 years?
October 8th, 2008 at 5:56 am
bull market- fun to watch cramer call out 52wk hi/hi beta stocks and woo isnt this fun time
bear market- dont listen to a word he says- he’s buried more listeners trying to call bottoms or guess earnings announcements
my favorite from confessions- he ridicules chartists and even today still will mock those who follow the squiggly lines, but it was his wife a chartist and his magical ‘oscillator’ that he overleveraged to save his ass during the 91′ meltdown
October 8th, 2008 at 6:49 am
At a trading seminar by former trader and radio host Jack Steinem, Jack said he was hired by Cramer as a market analyst and was ridiculed about the use of TA . After six months, he walked. He basically told us Cramer was a thief. If you watch his Street.com video’s, he is completely different. Strange guy.
October 8th, 2008 at 6:53 am
Correction: The seminar was by Jack Steiman. Sorry.
October 8th, 2008 at 10:47 am
Cramer - **eh** - shrugs.
It’s funny how he appears to be reviled by millions…who have bought his books, watch his tele show, and visit his website.
Still the best delicious on the planet, youngster. “My Pussy Is So Hot” has gotta go viral.
If dow 9,000 is not near the bottom, where is?
October 8th, 2008 at 10:21 pm
@KC: Cramer is very short, I believe. 5′5″ is a good guess.
October 9th, 2008 at 12:04 pm
5′5″ ?? = shrimp syndrome now everything makes sense
also shortest guy in the room
from the chin up. educated idiot
hedge fund shill. I’ll send him a copy
of these comments. ;)