Jim Cramer

[ALawPoker]

I watch him from time to time, and actually made a quick chunk of change off one of his suggestions after hurricane Katrina. It was some small lumber provider that I never would've heard of otherwise. That's sort of what I use his show for. Let him throw some ideas at you, but trust your own instincts and research. I think he definitely knows what he's doing, but ultimately it is a TV show, and he's tossing way too much info out to trust everything he says.

[NajdorfDefense]

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He made 30% in the downturn of 2000. How many other professional managers did that?

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I don't know where you got this info

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From his audited track record distributed by their independent, third-party administrator.

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gives a story of Cramer and his top 5 can't miss, hold for the next decade picks he made in 2000.

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Um, no. You are completely wrong. Don't argue with experts when you are so clearly clueless and uninformed and relying on memory from footnotes unrelated to Cramer Berkowitz' 2000 actual performance.

You seem to be relying on a post, one of tens of thousands, Cramer made on TSC about his 10 [not 5] favorite stocks to own on Feb 29th, 2000. We already mentioned this in the thread.

The important quote -- ' Because these are the only ones worth owning right now in this extremely difficult, extremely narrow stock market.'

The word 'decade,' in fact, does not appear anywhere in his column on that day. 'Right now' <> 'decade.'

I'll allow others to elaborate if that last point confuses you.

[JoseGonzlez]

yeah well the guy was a great trader not a great investor. he likes whatever stock is going up hates whatever is going down. it looks good on tv not as great in the real world.

Read Confessions of a Street Addict its his own book. He basically talks about he was one of the 5 biggest commission generators on wall street and in turn he would get some clue on upgrades or downgrades a brokerage company would make (these upgrades are usually worth a few percent jump in a stock.) this stuff may have been legal at the time but it is not anymore. if you read his own book you get the impression alot of his profits were made from somewhat shady practices and sheer hustle rather than being a great market prognosticator.

i really hate the guy. he is just a dishonest self promoter.

funny ny post story

[NajdorfDefense]

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He made 30% in the downturn of 2000. How many other professional managers did that?

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I don't know where you got this info

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From his audited track record distributed by their independent, third-party administrator.

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gives a story of Cramer and his top 5 can't miss, hold for the next decade picks he made in 2000.

[/ QUOTE ]

Um, no. You are completely wrong. Don't argue with experts when you are so clearly clueless and uninformed and relying on memory from footnotes unrelated to Cramer Berkowitz' 2000 actual performance.

You seem to be relying on a post, one of tens of thousands, Cramer made on TSC about his 10 [not 5] favorite stocks to own on Feb 29th, 2000. We already mentioned this in the thread.

The important quote -- ' Because these are the only ones worth owning right now in this extremely difficult, extremely narrow stock market.'

The word 'decade,' in fact, does not appear anywhere in his column on that day. 'Right now' <> 'decade.'

I'll allow others to elaborate if that last point confuses you.

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Here is Cramer less than a month later:
'I can only tell you what I have done. I have taken money out and put some of it in a New Jersey municipal-bond account that Vanguard has. It allows me to sleep. It allows me to trade better. It allows me to feel that the down days are not going to change my lifestyle one whit. It gives me the freedom to be bigger and bolder with the money that remains in.

No, you won't get this kind of advice elsewhere because, long-term, stocks are the best investments so it makes no "theoretical sense" to put some assets into a tax-free AAA-rated municipal fund.
...With this piece, I will now drop this theme. I am getting too much email blasting me for this stance and I am just going to direct everybody to this piece. It is my last word on what to do with this market. '

March 27, 2000.

[Beavis68]

he knows what he is doing. I listened to him on the radio for a few years and dabled in his recommnantions and they did well.

I am probably an idiot for not keeping with it. i find his TV show pretty worthless but his radio program was pretty good.

He has a lot of money and enjoys the attention he is getting now.

[JoseGonzlez]

people think he is good because its been a tranquil bull market.

he likes whatever is going up hates whatever is going down.

i could tell you what he will say about a stock before he says it.

the guy is not good he made his money through shady tactics and hustle that is about it.

he sucks as an invenstment advisor.

[ArturiusX]

In reality, if you're holding a stock for less than 5 years, you're probably trading it, not investing it. Most people are stock traders, not stock investors, but never know it, and it kills their bottom line.

[nycballer]

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Um, no. You are completely wrong.

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nah dude im right....

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You seem to be relying on a post, one of tens of thousands, Cramer made on TSC about his 10 [not 5] favorite stocks to own on Feb 29th, 2000. We already mentioned this in the thread.

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nope. From one the most important investment books ever, Security Anaylsis, i quote "In February 2002, hedge fund manager James J. Cramer proclaimed that internet-related companies 'are the only ones worth owning right now.' These 'winners of the new world' as he called them, 'are the only ones that are going higher consistently in good days and bad.' Cramer's favorite stocks did not go 'higher consistently in good days and bad'. By year end 2002, one of the 10 had already gone bankrupt, and a $10,000 investment spread equally across Cramer's picks would have lost 94% leaving you with a grand total of $597.44."

To make that a mistake of that magnitude puts Cramer in the hack category. I know a few money managers that believe the same

[edtost]

a) everything that made "security analysis" one of the most important books ever was written well before cramer's 2002 column.

b) cramer was a short-term momentum trader who reversed the position he took in that column well before the end of the year 2002, making the numbers you post a moot point.

[NajdorfDefense]

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You seem to be relying on a post, one of tens of thousands, Cramer made on TSC about his 10 [not 5] favorite stocks to own on Feb 29th, 2000. We already mentioned this in the thread.

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nope. From one the most important investment books ever, Security Anaylsis, i quote "In February 2002, hedge fund manager James J. Cramer proclaimed that internet-related companies 'are the only ones worth owning right now.'

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You, and the editor of that version of SA, are idiots. The post is from Feb 2000. He reversed position on March 2000 as shown by my direct quoting of his column. He made over 30% in 2000. He did not hold those stocks for 2 years, nor did he tell anyone else to do so.

Why do you insist on being so wildly and publicly wrong, esp when others have already posted the relevant info in this thread? You got the date wrong, the advice wrong, and the number of stocks wrong.